Posts Tagged ‘sickcare complex’

Innovation, Risk and the Forest Fire Analogy

Innovation, Risk and the Forest Fire Analogy  

Lava burning forest

Courtesy of Charles Hugh Smith Of Two Minds 

To clear open space for innovation to take root, sometimes you need a forest fire to destroy all the deadwood. Instead, we are frantically piling up more deadwood.

What was once an inflammatory outlier--that our brand of "capitalism" incentivizes exploitation, fraud, complicity, corruption and plunder--is now commonplace. Even the most mainstream financial media websites now sport commentaries which excoriate our systemic fraud, and books galore gleefully sport titles containing "hot" words like plunder.

That is a remarkable turn of events: that a radical critique of our entire financial system has gone mainstream, and in many circles has been accepted as "obvious." (For more on the tricky nature of what’s "obvious," please see the chapters on the politics of experience in Survival+.)

In Innovation: Financial, Technical and Institutional (June 30, 2010), I attempted to connect the dots between risk and innovation. I believe that the two concepts are intrinsically bound like oxygen and hydrogen in the water molecule, but this deep structural connection between the two is generally ignored or not even recognized.

In essence, innovations which remain inherently unstable and unsafe regardless of hedges, controls and safety features--that is, they embody intrinsic risk-- cannot be placed in the same category as innovations with inherently low risk.

One of the keystones of the Survival+ critique is the realization that the risks of our systemic "financial innovations" are ontological and cannot be massaged away to zero. Indeed, the idea that this was possible underpinned the entire credit bubble and its inevitable implosion.

Mathematician Benoit Mandelbrot discredited this notion in depth in his book (highly recommended) The Misbehavior of Markets.

I addressed this last year in The Yellowstone Analogy and The Crisis of Neoliberal Capitalism (May 18, 2009):

For decades, the operative theory of forestry management was that limited controlled burns-- mild reductions of dead underbrush and debris--would essentially reduce the possibility of a major fire to near-zero.

But the practice actually allowed a buildup of dead wood which then fueled the devastating forest fire which swept Yellowstone National Park in 1988. Various revisionist views sprouted up later, claiming the fire was not the result of misguided attempts to limit natural forces (Vast Yellowstone Fire Now Seen as Unstoppable Natural Cataclysm (NT Times, 1989)).

Now we’re in a financial conflagration which is widely considered the result of


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ValueWalk

Mixed Trick or Treat Bag for US Retailers this Halloween

By Refinitiv. Originally published at ValueWalk.

As a result of the coronavirus restraining normal activities, including traditional Halloween events, such as trick or treating and costume parties, retailers are feeling the pinch of a scary Halloween season.

Q3 2020 hedge fund letters, conferences and more

In collaboration with StyleSage, Refinitiv reviews this year’s Halloween discounts and consumer purchasing behavior in the report: It’s a Mixed Trick or Treat Bag at Hallowee...



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Kimble Charting Solutions

Are the S&P 500 Index and Crude Oil Peaking Together Again?

Courtesy of Chris Kimble

The price of crude oil has been an important indicator of the economy for quite some time. When oil is in demand and performing well, the economy likely is. And when oil is not performing well, the economy likely isn’t either.

Taking this one step further, it’s easy to see how crude oil can be a solid indicator of the stock market as well.

Often times, investors receive a bearish or bullish message from this relationship. In today’s chart 2-pack, we illustrate how the relationship between the S&P 500 Index and the ...



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Phil's Favorites

Despite Its Five Felony Counts, the Federal Reserve Has Entrusted $2 Trillion in Bonds to JPMorgan Chase

Courtesy of Pam Martens

Imagine that your neighbor across the street had been criminally charged with five felony counts for financial crimes in the past six years and admitted to committing each and every crime to the U.S. Department of Justice. Would you put one-third of all of your money in a safe, give that neighbor the combination, and ask him to hold the safe in his house for you? You would probably be suited up for a straight jacket if you did something like that.

That’s effectively what the Federal Reserve, the central bank of the United States, has done when it comes to JPMorgan Chase. As of this past Wednesday, the Fed ...



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Zero Hedge

In Unprecedented Cost-Cutting, Exxon Is Firing 15% Of Its Workers To Keep Dividend

Courtesy of ZeroHedge View original post here.

It may sound unbelievable that just seven years ago Exxon was the world's largest company.

Of course, all that changed with the advent of the FAAMGs and the Fed blowing the biggest tech bubble in history which together with the plunge in the price of oil, meant the market cap of Exxon has tumbled to just $136BN, below that of Zoom. Yes, we have gotten to the point in the bubble where a video chat with no barriers to entry, zero infrastructure and barely any profit is more val...



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Biotech/COVID-19

Achieving COVID-19 herd immunity through infection is dangerous, deadly and might not even work

 

Achieving COVID-19 herd immunity through infection is dangerous, deadly and might not even work

Under relaxed public health restrictions, deaths will spike far before herd immunity is achieved. AP Photo/Mark Lennihan

Courtesy of Steven Albert, University of Pittsburgh

White House advisers have made the case recently for a “natural” approach to herd immunity as a way to reduce the need for ...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Monday, 18 May 2020, 03:35:21 AM

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Comment: Ooh so pretty, so pretty, ooh so!



Date Found: Thursday, 21 May 2020, 01:03:17 AM

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Comment: Charlie Lee: All Things Litecoin (#MimbleWimble, ...



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Politics

How to track your mail-in ballot

 

How to track your mail-in ballot

Make sure you know when your ballot is arriving, and whether it’s been accepted for counting back at your election office. erhui1979/DigitalVision Vectors via Getty Images

Courtesy of Steven Mulroy, University of Memphis

Many voters who want to participate in the election by mail are concerned about when they’ll receive their ballot – and whether it will get back in time to be counted.

The pandemic has caused interest in ...



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Digital Currencies

Bitcoin: the UK and US are clamping down on crypto trading - here's why it's not yet a big deal

 

Bitcoin: the UK and US are clamping down on crypto trading – here's why it's not yet a big deal

Where there’s a bit there’s a writ. Novikov Aleksey

Courtesy of Gavin Brown, University of Liverpool

The sale and promotion of derivatives of bitcoin and other cryptocurrencies to amateur investors is being banned in the UK by the financial regulator, the Financial Conduct Authority (FCA). It is a...



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Mapping The Market

COVID-19 Forces More Than Half of Asset Management Firms to Accelerate Adoption of Digital Marketing Technology

By Jacob Wolinsky. Originally published at ValueWalk.

There is no doubt that the use of technology to support client engagement initiatives brings both opportunities and threats but this has been brought into sharp focus this year with the COVID-19 pandemic.

The crisis has brought to the fore the need for firms to enable flexibility in client engagement – the expectation that providers will communicate to clients on their terms, at their speed and frequency and on their preferred channels, is now a given. This is even more critical when clients are experiencing unparalleled anxiety from both market conditions and their own personal circumstances.

...

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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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Promotions

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Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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