Posts Tagged ‘Ayn Rand’

Ayn Rand Resurrected

Going Galt with Stephen Colbert

Courtesy of Benign Brodwicz’s The Animal Spirits Page

Brilliant.

The Colbert Report Mon – Thurs 11:30pm / 10:30c
The Word – Rand Illusion
www.colbertnation.com
Colbert Report Full Episodes Political Humor U.S. Speedskating

 

Want more?  Dangerous Minds’ Richard Metzger responds to Andrew Corsello’s The Bitch is Back article in GQ.

Ayn Rand Assholes

ayn rand
 

Andrew Corsello’s The Bitch is Back article from GQ on the boorish subject of Ayn Rand Assholes is probably the best takedown of Ayn Rand’s followers (and Alan Greenspan and Wall Street) I’ve yet seen and certainly the funniest (other than Stephen Colbert’s). It was about time for an article like this to appear and I am glad it was Corsello who wrote it.

I myself became an unabashed Ayn Rand fanatic when I was in 7th or 8th grade. I’d been reading the works of Victor Hugo and so I was totally primed for discovering another “Romantic” (note capital “r”) writer like Ayn Rand next, but it wasn’t via her well-known fiction that I discovered the Russian-born novelist and philosopher, but rather a more obscure volume called Introduction to Objectivist Epistemology, which I read extremely slowly so I could take in the complexity of the thought. It’s a very dry, technical book, but made a huge impression on me (more on this below,…
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Ayn Rand Eviscerated in GQ

Ayn Rand Eviscerated in GQ

Postal Stamp Art On Display At National Postal Museum

Courtesy of Joshua M Brown, The Reformed Broker

I’ve not read anything by Andrew Corsello before, but his evisceration of Ayn Rand in GQ magazine is a thing of caustic, vicious and snark-filled beauty.

I did my share of battle with the Rand Cult earlier this fall when I interviewed her Ghost to discuss capitalism’s share of blame for the credit crisis.  Corsello never meets her ghost, but speaks to quite a few of her acolytes in his piece.

I’m adding Andrew Corsello to my list of writers to keep up with.

Here’s why:

goddamn, the experience of being 19 years old and reading Ayn Rand! The crystal-shivering-at-the-breaking-pitch intensity of it! Not just for that 19-year-old, but for everybody unfortunate enough to be caught in his psychic blast radius. Is “experience” even the right word for The Fountainhead and Atlas Shrugged? Ayn Rand’s idolization of Mickey Spillane and cigarettes and capitalism—an experience? Her tentacular contempt for Shakespeare and Beethoven and Karl Marx and facial hair and government and “subnormal” children and the poor and the Baby Jesus and the U.N. and homosexuals and “simpering” social workers and French Impressionism and a thousand other things the flesh is heir to: experience?

Read the rest:

The Bitch is Back (GQ)

Read Also:

Interview With The Ghost Of Ayn Rand (TRB)

 


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How the Servant Became a Predator: Finance’s Five Fatal Flaws

Here’s an excellent, must-read article by William K. Black.  Special thanks to New Deal 2.0. - Ilene

How the Servant Became a Predator: Finance’s Five Fatal Flaws

By Bill Black, Courtesy of New Deal 2.0

money-shark-150 - preditor stateRoosevelt Institute Braintruster William K. Black explains how the finance economy preys on the real economy instead of serving it. He shows how both have become dysfunctional and warns that we must not neglect the real economy — the source of our jobs, our incomes, and the creator of goods and services — as we focus on financial reform.

What exactly is the function of the financial sector in our society? Simply this: Its sole function is supplying capital efficiently to aid the real economy. The financial sector is a tool to help those that make real tools, not an end in itself. But five fatal flaws in the financial sector’s current structure have created a monster that drains the real economy, promotes fraud and corruption, threatens democracy, and causes recurrent, intensifying crises.

1. The financial sector harms the real economy.

Even when not in crisis, the financial sector harms the real economy. First, it is vastly too large. The finance sector is an intermediary — essentially a “middleman”. Like all middlemen, it should be as small as possible, while still being capable of accomplishing its mission. Otherwise it is inherently parasitical. Unfortunately, it is now vastly larger than necessary, dwarfing the real economy it is supposed to serve. Forty years ago, our real economy grew better with a financial sector that received one-twentieth as large a percentage of total profits (2%) than does the current financial sector (40%). The minimum measure of how much damage the bloated, grossly over-compensated finance sector causes to the real economy is this massive increase in the share of total national income wasted through the finance sector’s parasitism.

Second, the finance sector is worse than parasitic. In the title of his recent book, The Predator State, James Galbraith aptly names the problem. The financial sector functions as the sharp canines that the predator state uses to rend the nation. In addition to siphoning off capital for its own benefit, the finance sector misallocates the remaining capital in ways that harm the real economy in order to reward already-rich financial elites harming the nation. The facts are alarming:

• Corporate stock repurchases…
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Zero Hedge

Record Coral Cover Of Great Barrier Reef Shames Climate Alarmists, Media

Courtesy of ZeroHedge View original post here.

Authored by Peter Ridd via ClimateChangeDispatch.com,

The annual data on coral cover for the Great Barrier Reef, produced by the Australian Institute of Marine Science, was released on Monday showing the amount of coral on the reef is at record high levels.

...



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Phil's Favorites

Axie Infinity: online games where people earn as they play are transforming gaming

 

Axie Infinity: online games where people earn as they play are transforming gaming

Welcome to the latest craze in gaming. ira Lichi

Courtesy of Drew Cattanach, University of Westminster

The ultimate point of playing video games has always been to have fun. Whether it’s Space Invaders or Sonic or Red Dead Redemption, you hit the start button and do your thing until game over – and then you probably wipe the sweat off your hands and do it again.

But a new class of games is emerging where playing is an investment opport...



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Digital Currencies

Is Amazon About To Start Accepting Crypto?

Courtesy of ZeroHedge

For the first time ever, Amazon has shown itself to be interested in crypto with a new major hire within its payments-focused team.

Posted on Thursday, the new role seeks an experienced product leader with expertise in blockchain, central bank digital currencies and cryptocurrencies to “develop the case for the capabilities which should be developed” and drive overall product vision.

The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap

The Amazon Payment Acceptance & Experie...



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Biotech/COVID-19

US is split between the vaccinated and unvaccinated - and deaths and hospitalizations reflect this divide

 

US is split between the vaccinated and unvaccinated – and deaths and hospitalizations reflect this divide

As coronavirus cases surge, unvaccinated people are accounting for nearly all hospitalizations and deaths. Fat Camera/E+ via Getty Images

Courtesy of Rodney E. Rohde, Texas State University and Ryan McNamara, University of North Carolina at Chapel Hill ...



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Chart School

Investing with Channels - Review

Courtesy of Read the Ticker

The US has a lot of debt, to sell more units of the debt to non US buyers the FED and Treasury must get the unit price of the debt down.

This video assumes a 'risk on' bullish bias into the Nov 2022 US mid terms. The bias assumes a US dollar trending down from it current high price of $93 on the DXY.






Chart 1 - US Dollar Channels


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Chart 2 - Ethereum/USD


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Politics

New York defines illegal firearms use as a 'public nuisance' in bid to pierce gun industry's powerful liability shield

 

New York defines illegal firearms use as a ‘public nuisance’ in bid to pierce gun industry’s powerful liability shield

Illegal gun use is now a public nuisance in New York. AP Photo/Bebeto Matthews

Courtesy of Timothy D. Lytton, Georgia State University

Could calling the illegal use of firearms a “public nuisance” bring an end to the gun industry’s immunity from civil lawsuits? ...



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Promotions

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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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