Why it is a good idea to ignore expert predictions
Adjacent headlines on CNBC this morning
Crypto, Finance: Bankman-Fried and most everyone connected to him may have been scammers, say some
But critics say Sam Bankman-Fried’s collapse shows that the movement was always morally compromised — “a con,” as author Anand Giridharadas put it — because it didn’t seem to care…
Demographics: Are retiring Baby Boomer’s causing inflation?
Simplistic perspective: Fewer people working because they have elected to retire makes it more difficult to cure the economy’s supply-demand imbalance. Source: Why retiring Baby Boomers may make it harder…
Crypto, Crime: FTX and “Effective Altruism”
Instead, MacAskill is the thinker perhaps most associated with the moral philosophy known as “effective altruism,” which was profoundly influential on Bankman-Fried, Alameda CEO Caroline Ellison and others in their…
Crypto: Just over half of Bitcoin addresses now at a loss
Just over 51%, or 24.6 million addresses of the total 47.9 million, are below purchase price on their investments, according to data provided by blockchain analytics firm IntoTheBlock. About 45%…
Finance: Who are the people behind the FTX collapse?
Bankman-Fried was worshiped by much of the media when skepticism might have been better: Is Sam Bankman-Fried, the disheveled, media-hungry founder, a sociopath, as some are beginning to say? Or…
Finance: How did the grand cryptocurrency con happen? “Hero worship”
And while SBF’s FTX takes the cake for crypto’s biggest con in dollar terms, it’s noteworthy how many other conmen crypto has produced: Mt. Gox’s Mark Karpeles, QuadrigaX’s Gerald Cotton,…
Finance: How did FTX happen?
And that’s where the danger comes in. Because it’s not just hypocritical to act like capitalist accumulation is altruism. It’s also a great way for people like Bankman-Field to avoid…
Finance: Are you saving too much for retirement? Probably.
Previously: The fundamental question is – “Should you save when you are relatively poor so you can have more when you are relatively rich?” This week: This week’s latest on…
Finance: Inflation as a wealth tax on all, to cut Federal debt
For all the attention that soaring inflation has gotten this year, one of its most surprising direct offshoots has gone largely unnoticed: US government debt is shrinking rapidly. Not in…