Lion of the Blogosphere

How’s the FTSE 100 doing?

June 23: 6338.10 Last close before Brexit vote.

June 27: 5982.10 Low after Brexit vote. Commetentators in mainstream media saying “see, Brexit destroyed the United Kingdom’s economy, you stupid voters are getting what you deserve.”

August 15: 6941.19 Today. Up 10% since June 23, up 16% since June 27. Maybe the stupid voters were right and mainstream media commentators were actually the stupid people?

Written by Lion of the Blogosphere

August 15, 2016 at 3:25 pm

54 Responses

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  1. FTSE is being supported by government monetary action to counteract the BrExit instability fears.

    You could make a lot of money if betting on the effects of these government monetary stimuli.

    Lion of the Turambar

    August 15, 2016 at 3:42 pm

    • FTSE is being supported by government monetary action to counteract the BrExit instability fears.

      Cutting rates is a good central banking tactic the bank, like the Bank of England, is overseeing a generally healthy economy and when it is intended to be a short to medium term measure.

      Injecting liquidity becomes problematic when it is a permanent measure to mask an unhealthy economy, as the Federal Reserve and European Central Bank have been doing.

      The Undiscovered Jew

      August 15, 2016 at 6:12 pm

  2. As i said in the last thread. If you dont understand statistics you’ll keep reacting like a neurotic harpie to every single thing that happens.

    The long term equity trend is up because central bankers honestly think printing money and handing it to corporations and the wealthy is the best way to stimulate the economy. If you think tax cuts for the rich is bad, many years from now empiricists are going to go beserk at how much the top 1% wealth increased through quant easing and how little it did.

    Although fine art warehouse security men did ok so thats typically a cuckold will point to that.

    The Philosopher

    August 15, 2016 at 4:09 pm

  3. You have to remember that a lot of the companies trading on the FTSE 100 and NYSE are multinational companies which means they have business interests all over the world. Therefore, even though Britain is leaving the EU, many of these companies will still continue to do business inside the European Union.

    Joe Walker

    August 15, 2016 at 5:41 pm

  4. Maybe the stupid voters were right and mainstream media commentators were actually the stupid people?

    As I predicted, the economy of Britain weathered the referendum with negligible consequences.

    The Undiscovered Jew

    August 15, 2016 at 6:01 pm

  5. It’s tempting to crow but one has to be cautious. Before the vote people were saying that if Cameron lost the next leader would have to be someone who supported Brexit, yet the new PM was a Remain supporter too. The whole issue has become quite murky with no clear consensus about what leaving will actually mean. It may be that at the end of this process (which still has no certain end date and could take years) we end up with something far less than the total control and independence that some of us were hoping for, and which feels a lot like still being in the EU.

    So maybe the stock market reaction is the realisation sinking in that the Remain camp aren’t beaten at all and the system wins again.

    In any case most Alt-Right people are cyincal and suspicious about the manipulation and dishonesty involved in the financial markets, so why suddenly start seeing it as a reliable measure in this one instance?

    prolier than thou

    August 15, 2016 at 6:04 pm

    • The pro-Brexit right didn’t choose the stock market as the measure by which Brexit was to be judged, liberals did. They should be made to live with it when the numbers they were citing no longer back up their claims.

      Besides, one reason I didn’t base my support of Brexit on what stocks did is that I don’t see the latter as reflecting real economic conditions. It would be an advance for our side if we put liberals on the spot and they started saying the same thing to wriggle out of their contradictions.


      August 15, 2016 at 6:33 pm

    • “In any case most Alt-Right people are cyincal and suspicious about the manipulation and dishonesty involved in the financial markets”

      Unless you enjoy it from a fun/gambling perspective and can say to yourself with certainty that you know what you’re doing, the only thing you need to know about the stock market is go to, open an account, and buy their index funds.

      They are a non-profit and have the lowest fees in the entire world, often less than 0.1% per year. The big scam on Wall Street is not price manipulation, which an index fund investor is just as likely to benefit as lose from, but the fees, which always involve Wall Street winning and the investor losing.

      One word, VANGUARD, is worth more than every word ever said on CNBC.

      I am alt-right and cynical about financial markets, but that doesn’t mean I don’t think they basically do work as intended. The stock market should be priced at the collective view of the present value of future corporate net profits less taxes, and it seems to actually do that to me. Its sheer size makes it very hard to manipulate as a whole.

      Way too many alt righters get scammed by high-fee investments or overbuy gold and silver because of conspiracy-peddling ZeroHedge type sites, as well as slightly more respectable but equally wrong Peter Schiff types. That site just keeps getting more popular, even as their stock bear market, hyper-inflation, and $10,000 gold predictions all went completely wrong.


      August 15, 2016 at 10:58 pm

      • Lot, you would like the blog of J.L. Collins of New Hampshire:

        Collins’ financial advice is: 1) spend less than you earn, and 2) invest what you save in Vanguard index funds.

        He also has some interesting thoughts on buying a house, which he sees as a terrible investment. He has nothing against buying a house if you want a house; just don’t think of it as an investment.


        August 16, 2016 at 3:31 am

      • None of those things have been disproven yet.


        August 16, 2016 at 9:13 am

      • > the only thing you need to know about the stock market is go to, open an account, and buy their index funds.

        So you’re absolutely sure the stock market will not crash in the next few years right? Good advice…😛 I hope I get the opportunity to hold some assets that are worth 50% of what I paid for them…


        August 16, 2016 at 9:15 am

      • there are some exceptions to vanguard funds only or to a vg brokerage account only.

        1. if it’s a retirement account the only access to leverage one has is via ETFs and CEFs all of which are non-vanguard or futures. vg has no access to futures. Interactive Brokers does.

        2. vanguard has a limited selection and its brokerage charges 25x as much as Interactive Brokers for foreign stock transactions…minimum $50 vs $2.

        3. despite the often times absurd fees there are actually some consistent outperformers among CEFs, investment trusts, etc. and if their discount to NAV is sufficient their higher expense ratios make no difference to long term returns. Flaherty & Crumrine CEFs for example consistently beat index funds of preferred stock and vanguard has no such index funds. leverage is a big part of it, but there are some bond CEFs that have consistently beaten vg index funds even if these were levered.

        Trumpocalypse Now

        August 16, 2016 at 5:51 pm

      • Lot,

        What do you think of money markets as a safe haven if the market crashes, which I still anticipate? I’ve been out of the market since late 2014 and all in money markets when Greece elected an anti-euro leftist party.

        The Undiscovered Jew

        August 20, 2016 at 10:57 am

  6. There’s a fucking race riot in Milwaukee and you’re concerned about the stock exchange?


    Robert the Wise

    August 15, 2016 at 6:51 pm

    • That appears to be over, and the mainstream media is not promoting the story.

      Lion of the Blogosphere

      August 15, 2016 at 7:08 pm

      • Olympics aren’t over and Fiji took the rugby gold annihilating Britan! Pretty amazing. We need to talk about this.


        August 16, 2016 at 7:39 am

      • yakov…comrade…tovarishch…

        olympic rugby is like olympic soccer/football…

        the best don’t show up…they don’t care.

        the rugby world cup is dominated by new zealand, australia, and south africa…because those are the only countries where anyone cares.

        the more interesting hbd questions are:

        1. why is it that all the interesting sports originated in the uk?

        2. why is it that the british south african accent sounds a lot like the antipodean accent? but even the afrikaner accent sounds like rupert murdoch.

        but the fijians are a HUGE example of appearance vs genes.

        fijians are melanesians. they look like black africans. they even have afros/kinky hair.

        but genetically they’re much more closely related to europeans and japanese than they are to sub-saharan africans.

        Trumpocalypse Now

        August 18, 2016 at 7:38 pm

      • @trumpapocalypse

        Mate, I think rugby is the sport that fits Fijian character. In soccer they’ve lost 8:0 to S. Korea(!), 10:0 to Germany. They went home without having won a match! Their world cup rugby team is rated in the tenth place, which is very decent for a tiny nation. This is their thing and it’s quite amazing.

        There were 44 Chinese table tennis players competing in Rio. Only 6 represented China.

        So I would like smart people to explain this predilection that these people have.

        England has given us some excellent sports, but not all or even most, just a few. Why are you saying all?

        I don’t understand the question about the accents.

        Fijians are supposed to have an IQ of 85 and that makes them closer to the Sub-Saharan Africans then to the Japanese. So I dunno what you are saying.


        August 19, 2016 at 1:04 am

      • predisposed to possess physical characteristics potentially beneficial to rugby union performance”. They are heavier, have more muscular limbs and smaller proportions of body fat, and can produce “greater force in explosive movements” than players of other ethnicities. This combination of impact and agility has also been useful in other sports.


        August 19, 2016 at 12:32 pm

  7. Two comments:

    1) the market hasn’t reflected any kind of fundamentals driven value in over 10 years. Even 2007 was an aberrational year with artificially low interest rates below historic averages and a fraud based lending economy.

    2) here’s the link to the bear stearns analysis on investment banking:

    I’m sure Lion loves Bear Stearns because they were the proliest of the investment banks.


    August 15, 2016 at 7:05 pm

    • That should say “illegal immigration”, not “investment banking.”


      August 15, 2016 at 11:32 pm

  8. it is pretty bizarre that central banks are supporting markets post brexit. if the lesson is supposed to be, don’t leave the EU because it will be bad for you – they are failing on first principles.

    So, i suspect the intervention is to prevent people from realizing that Brexit means that the entire debt of the EU nations is only backed by Germany and a bunch of insolvent countries.

    Protecting against that is more significant than punishing UK.

    Strange times indeed.


    August 15, 2016 at 9:24 pm

    • Protecting against that is more significant than punishing UK.

      Threats against Britain’s economy were always bluffs. London’s financial center could only be brought to it’s knees by severe sanctions; sanctions that would have quickly backfired on the Continental banking sector and destroyed the eurozone.

      Neither was the establishment case strengthened by the fact Southern Europe has been devastated by the currency union.

      The Undiscovered Jew

      August 16, 2016 at 5:50 pm

  9. This has been my best year in the market ever. iRobot has done well, on Lion’s advice I got some for 29, now up to 40.7 today, almost a 40% gain in less than a year. I hope he held on too.

    Mostly I have stopped trying to find some stock that will go crazy and have instead the last few years been buying one large-cap that pays a dividend per month. This gives me a lot of smaller positions that I can tax loss harvest and is a bit of fun gambling without much real risk. Verizon for example is very low risk, and the 4.2% dividend is a whole lot better than either paying down my mortgage or letting it sit in a bank or gov bonds.

    I also had some great timing and bought some natural gas and gold mining stocks before their bull markets started this year, and better still when I initially lost money I averaged down near their bottoms, so some individual buys have tripled in this sector. Mostly I want to sell my gold and gas since these sectors are so volatile, but I would hate to pay short term cap gains taxes so I am waiting out the 1 year and locking in profits as that happens.


    August 15, 2016 at 10:45 pm

    • Nice! Congratulations, and thanks for sharing your strategy and some names.


      August 16, 2016 at 11:06 am

    • @Lot

      I do this play with a small portion of my funds, like I’d recommended a couple of years ago to buy Gazprom (OGZPY). It’s been a decent investment. This Friday I’m getting my second dividend of 5.7% on my original investment. It’s a small position of 7,000 shares, so the dividend is only $1,700, but I hope the price recovers. I want to sell at $7-8. SBRCY, which I had enthusiastically recommended under $4, is at $9. The dividend has been practically discontinued. Gonna exit at $12-15, if lucky.


      August 18, 2016 at 10:37 am

      • I avoid Russian/Chinese/South American stocks. I don’t trust their commitment to international capitalism that respects investor rights. $28,000 in one foreign equity would scare me. They zoom up and down much faster than Western and Japanese stocks, so there is a lot of money to be made guessing where the bottom is.


        August 20, 2016 at 4:40 am

  10. Very encouraged by the race riot in Milwaukee. BLM doesn’t give a shit about Hillary and they can sense how weak the police are. Although there was a media blackout, everybody knows about it. There will be more to come.

    Also a record weekend for murders in Chicago. Unfortunately DeBlasio caved to the police so crime is back in decline in NYC but crime is on the rise everywhere else. A few more terror attacks would also be great.

    But what we really need is a stock market crash. That would really dent the confidence in Obama and the elites. I don’t think there will be a crash until 2018, however.

    Otis the Sweaty

    August 15, 2016 at 10:58 pm

    • Its mathematically impossible for there to be a stock crash. Like the chinese stock market bailout, the central bankers and regulators there are controlled like the us authorities are by the extractors.

      Why do you think every single major treasury and central banker has gone on to proz for the industry after leaving office?

      As soon as prices started slipping they would ban short selling, force lockdowns on large funds and print billions to buy stock. It would simply never happen. To many big time guys have too much to lose.

      At the extreme they would just bail out large corporations to “save jobs”. For example, they have even bailed out hedge funds before. Probably to “save jobs”.

      Some elements of the market have priced this in, in the same way european italian or portugeese bonds yields reflect no chance of defaulting as the ecb will step in.

      Western economies have more in common with managed capitalism china than western economics textbooks and milton friedman. The funny thing is the chinese are doing a better job despite being nominally communists!

      The Philosopher

      August 16, 2016 at 3:37 am

      • The Japanese stock market crashed despite the Bank of Japan doing everything they could to keep it up. Eventually the US stock market will crash too. I think it will continue to rise for another 10 years or so but ultimately it is doomed.

        Otis the Sweaty

        August 16, 2016 at 6:18 pm

      • The stock market is effectively crashing, the problem is it is happening on a multi decade scale. I will explain:

        But first it’s important to understand that the stock market crashing is only useful to sway undecided voters. This is the real backbone middle class who still buy into the mythos of American social mobility and affordability of first world premium services such as health care and college and of course Anerican style retirement.

        The real barometer for middle classness is access to those two to three things in a way that doesn’t financially destroy you. Good healthcare to keep you functional in the golden years and on the golf course, and college education to provide the fake self-actualization which allows the middles to pretend they are similar to the upper middles (David Brooks’s bobos).

        Indefinite QE and leftist policies are destroying healthcare affordability and cost of college education at a rate of 3-9% per year depending on the year (it depends on demographics and many factors hence the wide range). GDP has a theoretical peak of 4% annual growth based on the last 50 years of historical data, but more realistically averaged 3%. For various reasons I’ll skip over (but can come back to if someone wants – they’ve been covered on this blog many times) GDP growth is unlikely to exceed 2% and more that likely will average 0-1% over the next 10 years. This is similar to Japan which is in the death spiral part of keynesian monetarist interventionism. Big words big words big words.

        Anyway, with a 3-8% differential between the increase in per capita incomes and the cost of US middle class consumers’ two main expenditures, the standard of living will easily decline by 30-50% in terms of purchasing power in the next 10 years. Essentially this brings us to middle income country status such as Mexico or a Central European country. Needless to say that is a massive CUT in your living standards and will likely not survive social unrest. The other piece of good news is that pension funds are functionally insolvent today so that will also hit people just as standards of living are declining.

        So maybe the S&P will hit 4,000 in ten years, but the middle undecided voters will feel like we are at S&P 600.


        August 16, 2016 at 9:44 pm

      • 1. healthcare costs are quite interesting as 99% of US businesses would benefit from socialized medicine. but the 1% of businesses in health care have congress by the balls. 1% of businesses, 17% of GDP.

        2. higher ed in the US is unique in a number of ways.

        a. the NCAA is unique. no other such organization exists in the entire world.

        b. but a study of professor pay by country found, to the investigators’ surprise, that canada and italy have higher salaries for public uni professors than the US. but i would guess than canada and italy do NOT have nearly as many hangers on like departments of “equity and inclusion”, and that their universities have much smaller “administrations” with much smaller salaries. and of course top paid profs at private US unis make much more than top paid profs at public unis.

        c. US admissions decisions are uniquely un-meritocratic. or only canada is worse.

        but what are these “leftist policies” which are to blame?

        the dems are NOT leftists! they pretend to be leftists to get elected and to exclude all who might threaten their power…but the average american “leftist” is even MORE motivated by status and class prejudice than the trickle down dildos.

        Trumpocalypse Now

        August 17, 2016 at 6:55 pm

      • but being un-able to retire “in style” really can be blamed on the individual in most cases.

        of course the individualist ideology is bullshit and mostly anglo-sphere.

        but americans spend like drunken sailors.

        if the US stock market had performed like the japanese market over the last 20 years, and if those who failed to diversify outside their own country could be excused…then it wouldn’t be an individual problem.

        but my God…you didn’t need to make much at all to retire at 50…in style!

        but children and wives have become the ultimate status symbol…for people with high IQs.

        and there’s a whole industry which relies on the obscene financial illiteracy of americans.

        Trumpocalypse Now

        August 17, 2016 at 7:03 pm

      • and leftist?

        who’s a leftist?

        the terms right and left come from the french national assembly during the revolution.

        “the mountain” makes clinton and all dems, except sanders, look like the koch brothers.

        robespierre 2016.

        Trumpocalypse Now

        August 18, 2016 at 1:17 am

      • As ive mentioned before a massive psychological and epistemological problem is to think in symmetry – alt right social policy means alt right economic policy works and so on.

        I suppose, when one is free of the illogical nature of symmetrical normative thinking you would pretty easily figure out most ‘leftist’ economic policies are sound.

        Japan suffers from lack of redistribution to higher marginal propensity to spend consumers, a function of low test peoples i may add, not keynesianism. Its corporations and cuckold class have too much savings – hence the very low jgb bond yeilds despite debt levels.

        You cab see the wealth hoarding outweighs the ‘keynesian’ deficit spending problem in magnitude through the implied and current yield curves.

        America suffers likewise – lack of redustribution. They are happy to redistribute upwards with sales taxes and quant easing. Not downwards maybe cos of blacks (you cant have seperate welfare/worker incentive policies for blacks and whites)

        So you see the trillions in tax havens earning commercial deposit rates or dumped in empty london property is worse for agg demand than a great pyramid building scheme or alien invasion.

        All the empirical work favours some state intervention.

        But the alt right is correct about much social policy. Arguably redist cant happen without homogenous peoples and a stable beta family pyramid for surplus production.

        This is why it is my belief and amalgamation between sanders and trump should happen. Not the current centrist nash bargain of cuckolding.

        The Philosopher

        August 18, 2016 at 2:45 am


        sanders showed he was a “flawed human being” with his denunciations of trump and his hillary boosting.

        the messiah would be a child of trump and sanders…

        if two guys could have kids.

        the ultimate problem, synecdochally speaking, was expressed by stiglitz recently…the higher education-poltics-media-complex…thomas frank has said as much…

        The first thing that really struck me when I went from academia to the White House was that there was almost no one with a scientific background. They were lawyers. And very, very few of the lawyers had majored in any science.

        They like winning an argument, but science-based, evidence-based reasoning was just sort of not in their framework.

        that’s my bottle of rum this evening.

        Trumpocalypse Now

        August 18, 2016 at 11:49 pm

      • but to be fair i had at least two profs who were fully cognizant of the value-transference nature of their “work”.

        both of them did make an effort to “teach”.

        but basically it was a case of The Bicycle Thief…they had kids and had no other tolerable job opportunities…so they justified their position to themselves…not really…but because they had to.

        and that is un-fortunately a totally moral excuse…

        but going further…actually believing that one is not a thief…

        that’s “going native”…

        so to say.

        what did eric fromm say in his afterword to 1984? or was it sinclair?

        It is difficult to get a man to understand something, when his salary depends on his not understanding it.

        Trumpocalypse Now

        August 19, 2016 at 12:32 am

      • I keep saying that newspapers should just print statistical tables.

        And statistics should be mandatory in education as a seperate subject. I would even say, in terms of cogntive function purposes, its more important than general math or physics. (But not learning english, although thats debatable…)

        Scott locklin made a similar point about how the theoretical work of statisicians in the 20th century after ww2 outweighs physics for our knowledge.

        Peoples narrative or verbal functions are not super top level to see gamma radiation in their information chutes. As steve sailer has written, having a merely above average verbal iq is probably the worse of all worlds – high susceptibility to gamma semantics and anchoring, smart enough to think theyre ‘your’ beloved ideas.

        Its much easier to train people to build lego data sets from a manual than freestyle surfing on the waves of narration.

        People are shocked at that as an assertion until they realise the vast majority of people on earth are religious, or other ideological (and thus, servants). Or even the vast majority of scientists believe in the blank slate and dont know what women want (although a theory of mind cannot be inferred from statistics either).

        The Philosopher

        August 19, 2016 at 4:11 am

  11. Pound lost value against euro/dollar after Brexit, FTSE 100 is international companies – their profits will soar in pounds and their stocks will go up (the day after brexit was just temporary panic for these companies stocks,)

    Anders Lindqvist

    August 15, 2016 at 11:39 pm

    • The pound losing value makes British goods more competitive at home as well as abroad. That’s a good thing for the British economy. Though I can see why Germany wouldn’t like it. They like having other EU countries as colonies for their exports. That’s one of the factors ailing the PIIGS economies. Hopefully, other countries will leave the EU and tell Merkel to stick the Euro up her ass.


      August 16, 2016 at 1:58 am

      • @Trumpacolypse

        I get what you are saying, but in the real world, classrooms will always be needed. Most people lack the drive to actually push themselves to self study even if they are highly motivated. Showing up to class is similar to showing up to work. I think there was a work from home discussion on this blog a few weeks ago so it’s really the same conversation.

        Also some people learn better from a real live human being. There is also a social element that needs to exist and can’t be replicated from self study courses. We aren’t all East Asian robots.

        Also, college once upon a time was a place where non prole young men could meet non prole (or suppressed faggot striver poors aka striver proles) young ladies that they then courted and began families with.

        Sometimes I wonder why we have these arguments on this blog. In a way 1000 years from now everything will look massively different if the human race even exists at all. We should all just make the best of what is and say to hell with it for civilizations trajectory. I guess I’m in it for the possibility of immortality which will only happen if we invest trillions into scientific research done by non-NAM men.


        August 18, 2016 at 9:26 pm

    • Replying to Trumpacolypse above (the reply button doesn’t exist in his responses for some reason).

      1) socialized medicine isn’t really the problem. You can do it if you want but I think it’s probably less efficient than an all cash free market based one provided the following:
      A) destroy the medical monopolies ability to obscure price transparency. No more coming to the hospital for a $5k knee procedure and coming out with $80k in bills. Prices should be quoted up front and should mostly be reasonably close to the final cost. This needs to be legally enforced.

      B) No more charging $80k in the US for a $300 vial of scorpion venom made in Mexico. This would require repeal of the anti cross border arbitrage laws that are a special carve out for big pharma. The rest of the world would see a 2 times price increase in the cost of their drugs and we would see a 66-90% reduction in most cases.

      These two policies immediately and permanently resolve the US budget deficit, but it will cause a temporary and massive depressionary dislocation as a whopping 20% of the economy struggles to relocate itself since it can no longer rape the US taxpayers. Probably a ton of upper middle striver faggot poors jobs dissappear. Not the end of the world as these people will land in the middle class and be forced to vote for ethnic homogeneity now that they can’t afford private school for their kids.

      2) the dems policies are effectively leftist it doesn’t matter that the net effect of leftist policies is increased class bifurcation (one could argue it is a feature of the ideology for those that promote it).

      As for college costs, those are mainly out of control due to admin overhead and massive real estate costs like gold plated toilets for 105 IQ fraternity and sorostitute imbeciles. This might be the ultimate form of cuckholdery from the current regime as we are all basically subsidizing Chad thundercock to run a train on dozens of our daughters and wives at a time with zero accountability for the utility of their college experience. The added bonus is it also annihilates early family formation because instead of a house mortgage you have a useless degree mortgage. It’s effectively a massive wealth transfer to a self annointed priestly class as well.

      Should the student loan bubble burst their should be mandatory confiscation or something to the effect of a “bail in” from private institutions which have basically fattened their endowments from this bubble. This can include land seizures and whatever other means necessary to correct for their ill gotten gains and saddling young Americans with unsustainable debt. Also put an end to socialism with the hole fafsa forms garbage. At 18 years old someone is a legal adult and their parents income shouldnt matter when determining the price of a good they are buying. This will also help with tuition costs as colleges are now forced to not price discriminate and cater to the optimal median denominator to maximize revenue without sacrificing too many new admits ability to afford an education.

      3) it doesn’t matter how most people invested the bottom line is most 401k plans are functionally insolvent as pension fund managers baked in 7-9% perpetual stock market growth assumptions. This either means people will be paid in funny money or will be taking a massive haircut.


      August 17, 2016 at 10:29 pm

      • Empirically state medicine works far better than “free market” medicine. You would have to be ideologically demented not to realise that.

        Quite simply – if youre lying on the street, have a chronic problem, have addiction or mental health issues etc a doctor could charge anything based on sticky geography, ignorance, dire need and non transparency of procedure pricing (chances are your condition means you cant move job etc).

        It is only the good nature of the doctor throughout history that stops enormous rent seeking – but not in america! No1 in worst healthcare outcomes in the developed world.

        If you want to figure out how having an autistic economic and social policy works, i would go to america. It works only if everyone is autist (mainly asian/large chunk white) k selected. Once you throw in schizo muslims and blacks its doomed.

        As for education, agree with most of those sentiments. The banks wont bail in – like subprime mortgages they will be bailed

        Plus ca change.

        The Philosopher

        August 18, 2016 at 2:57 am

      • hear! hear!

        except i still think america’s so called “leftists” are only playing at being leftists.

        their “leftism” is intended to be self-defeating…is intended to put high crenellated walls and a moat around their own status.

        american “leftism”‘s failure is by design.

        Trumpocalypse Now

        August 18, 2016 at 3:33 pm

      • and the bail-in is a great idea, but politicians are stupid and venal.

        imagine if student loans were advanced by the universities themselves.

        but what no one other than me ever says is that after the printing press and the re-introduction of paper into europe, formal education at all levels has been an anachronism and persists not because it has some subtle utility, but just by its own inertia. and with recorded sound and then video and then the internet…it’s just an enormous SCAM. yet the supposedly high IQ professoriate is totally oblivious…another example of how vice can make high status more likely and how libertarians confuse status and virtue.

        Trumpocalypse Now

        August 18, 2016 at 3:51 pm

      • that is, the university qua physical thing…should be no more than labs and offices. teaching labs and research labs. offices for the profs.

        but now the labs are an afterthought.

        the full profs make in the 95th percentile of wages but the labs are under-equipped and taught by TAs making minimum wage or “instructors”…

        like the elite media, the universities are a “din of iniquity”…and yet both have absolutely no clue as to how evil they are. they think they are doing “God’s work” and that they are morally and intellectually superior.
        yet another example of “value transference”.

        Trumpocalypse Now

        August 18, 2016 at 4:01 pm

      • @thephilosopher

        Right and people who’s cars break down in the middle of no where pay $10s of thousands of dollars to have their tires changed, because they are desperate right? That you have to construct a straw man of the most extreme case of patient proves my point. Do you even live in the real world?

        In the real world government antitrust laws (Sherman and Clayton Act) protect people from price gouging and various other anticompetitive behaviors. Guess what the kind of behavior you cite used to be very common in the auto industry and .gov basically cracked the anti trust whip and put an end to it.

        There is no free market medical model you can point to for comparison except American medicine in the 1950s which worked just fine.

        I suppose the surgery center in Oklahoma which actually posts prices up front provides a reasonable look at what medicine should actually cost today:

        FYI the Catholic Church used to provide care to the drug addled and the indigent until Ronnie Raygun basically stepped in with EMTALA and put an end to it. Now the church just hords the extra money, because hey why not? While the rest of us suffer rampant runaway medical cost inflation because of government intervention beyond their limited scope to regulate commerce and ensure fair trade between entities.

        As for why alt right social policies go hand in hand with a nation of enterprising single proprietors I refer you to non other than the founder of anarchy tyranny as a concept himself Samuel Francis:

        We also don’t need wealth redistribution we just need some semblance of a free market again. If the banks had been allowed to fail in 2008 we would have already recovered from a deep depression by 2010 and we’d have a functional middle class. The left would never allow it though because it would put an end to their project of remaking America in the Camp of the Saints image.

        Actually, not only do we not need wealth redistribution, we need to stop redistributing the wealth upward, which is basically what all the debt binge of the last 30 years had done. Built a parasitic bobo class that does nothing but shuffle papers around and heir surrogates such as doctors and lawyers. Remove fed support of the leveraged financial markets and watch all those professions collapse.

        The truth is there just isn’t much of a demand for smart people despite what they want to think. The smart persons fate is more likely that of the 1980s where they are shoved in lockers by their physically superior betters.

        Life is certainly more demanding of higher IQ people given the increase in technology and need to maintain it as well as medicine, but our bloated NGO/think tank/consulting/financial sector which probably account for well over 3 million jobs are just not needed. Since these jobs are occupied by IQ 110+ almost exclusively there will be a ton of depressed people falling to find self actualization once we restore a sane economy based on sound money ($1 of capital not some bullshit idiotic gold standard). Maybe these people can become local farmers and find self actualization in doing real honest work.

        Oh and a society with NAMs fails period there isn’t even much of a discussion there.


        August 18, 2016 at 9:19 pm

      • oops. i guess i meant a “den of iniquity”, but the iniquity is quite ob-streperous, a din of iniquity…

        for those who have ears to hear.

        Trumpocalypse Now

        August 18, 2016 at 11:15 pm

      • Old Timer

        Antitrust laws enforcement or sublimation by bribery is a recursive function of wealth accumulation by the a priori price gouging that would take place beforehand.

        You mention broken down cars in the desert and I mention demand inelastic street drug dealing.

        My analogy is more apt.

        After all, don’t we take ‘medicine’ to feel better?

        In any case, semantics shudders under cold empirical light. The USA’s healthcare market is a lot more free market than the vast majority of developed nations and gets the worst outcomes. Any layman could tell you that deregulation seems heavily correlated with inferior outcomes. What any layman could not tell you is that its also heavily correlated with the annihilation of civilisation.

        Civilization is regulation.

        The autistic neoliberals genuinely believe replacing workers with low wage low iq third worldlings will save the day as they create scientific breakthrough after breakthrough or that they will be obedient etc.

        Like finance, or pharmaceutical manufacturing, or the media, certain industries cannot exist at all or cannot exist without extreme volatility and negative externalities without state intervention.

        America was never a free market. It never can be. The more free market you make something, symmetrically in all directions, the more the extremis cases of certain industries idiosyncrasies would start to bend backwards turning the core into a gangsters paradise.

        The Philosopher

        August 19, 2016 at 3:24 pm

  12. Russia has responded to its recession by slashing immigrant visas, and guess what? Unemployment remained steady, which is never supposed to happen during a downturn!


    August 16, 2016 at 9:08 am

  13. Mates, after 20 years on Wall Street and 40 years in America, lemme share some prole wisdom with you:

    1. You can’t time the market.

    2. US is the best country and the best economy, ergo it has the best stock market, naturally.

    The mate that referred us to Vanguard was on the money, so to speak. I currently have 65% in Sp500, the rest in Oil and Russia, and it’s a wonderful choice. I just need to gamble a little, it’s a personal thing. Also, I’m building a powerful cash position to use for acquisitions next time the hell brakes loose and there is blood on the streets. Lol! If you stay 100% indexed an no it’s also a wonderful choice, but not very exciting. Indexing will probably outperform me in the long run. I gotta stop gambling, er.. investing.

    The Fiji gold medal needs to be talked about. A population of a half a million natives fielded that team. Half a million! Mates, this is a wonder of HBD. Someone’s got to do an in depth scoop on it. Lion, Jayman? This is totally amazing. I’m happy for them.


    August 16, 2016 at 9:54 am

  14. Heh.


    a person who displays or demands of others pointlessly precise conformity, fussiness about trivialities, or exaggerated propriety, especially in a self-righteous or irritating manner.

    Define’s them to a T.


    August 16, 2016 at 10:07 am

  15. OT: NYT, 08/15/16 – Waiting 8 Days in the Heat for a Career in Carpentry

    Dawn on Monday began the eighth consecutive day that Glenn Hobbesland stood on the baking sidewalk in the West Village of Manhattan. There, for the past week of searing heat, he had slept in a pup tent pitched on the pavement to be among the first in a line of several hundred people seeking to join the carpenters’ union.

    Whether camped out on lawn chairs under canopies, or toughing it out in the sun while pouring bags of ice over their heads, the men and some women were there to grab one of just 250 applications for an apprenticeship at the New York City District Council of Carpenters…

    those selected will spend four years undergoing classroom and on-the-job training, for which they are paid. There are currently about 1,500 apprentices, and over 70 percent of them are minorities, according to the union…

    E. Rekshun

    August 16, 2016 at 5:15 pm

  16. i think lion has neglected that the ftse is still down in USD terms.

    the GBP traded at 1.50 just before the vote. it’s now at 1.30. that’s a decline of 15.4%.

    Trumpocalypse Now

    August 16, 2016 at 5:54 pm

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