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Facebook, Google, Antitrust and the All Pervasive Underestimation of the Big Tech Threat

Above: Photo Collage / Lynxotic / Adobe Stock

The opinions expressed “pro” or “con” regarding big tech abuses of power are both overlooking far more serious issues that lie beneath

After years of public and insider opinion gradually shifting from a state of wonder, awe and hero worship of tech giants and their founders and CEOs, toward a more skeptical stance, and now, finally, government action begins; the fundamental issues that lie beneath are still barely mentioned, let alone widely understood.

In a filing at the U.S. District Court in Washington D.C., on December 9th, 2020, the Federal Trade Commission, together with 46 states, plus the District of Columbia and Guam, alleged that Facebook employed anticompetitive tactics, allowing it to bully and bury its rivals. In a strongly worded brief it recommends that the massive company be broken up, specifically by divesting itself of Instagram and WhatsApp.

While past antitrust cases were complex and difficult to understand fully, particularly for the general public, from the little known A & P case in the 30s and 40s to Standard Oil and Ma Bell / AT&T, in each case there were complex issues to address.

However, one simple thing tied them together that could be understood by virtually anyone: businesses that have a win-at-all-costs approach to business tactics and then achieve monopoly power almost always use that power to fulfill ambitions based on self-perpetuating greed at the expense of society as a whole.

Many, from all walks of life, particularly in the U.S., worship the ethos of “winner take all” and even if they are at the lowest levels of the economic ladder still cheer on the most ruthless and morally bankrupt “winners” as heroes, using a bizarre logic, that somehow they might one day see themselves in the winners circle.

This perspective is similar to societies where dictators, such as Ferdinand Marcos in the Philippines, or emperors are worshiped fervently by the very people that are most exploited and downtrodden under their regimes. Perhaps this is a hardwired genetic human trait, impossible to alter.

In the case of tech giants of the internet era, beginning with Microsoft and its antitrust case, a similar dynamic is no less present, and, no different from the steps that dictators take to encourage obedience and worship from their subjects. In this case it’s massive amounts of money and power used for required self-serving PR and the brutal economic repression of any dissenting voices.

Try to find a book on Amazon’s Jeff Bezos that is not a hero-worship nonsense-title purporting to offer you a way to become a “business genius” like him. You will find a few exceptions, of course, these purporting to offer “hard-hitting” investigative journalism and a sober look at the “real facts”.

These will be watered down, meekly subservient, weak and impotent tombs barely scratching the surface of any negative perspectives on the real problems Amazon and its founder have created, not only for millions of people around the world but for society as a whole.

Even among those that are the most incisive and have a real desire to “dig-deep” and reach the roots of the real problems, there is often still the a priori assumption that somehow, the 26 year evolution of business models that could “succeed” in internet and software based business are to be measured on a scale that presumes that the business models themselves are basically valid, simply because they were able to survive and create massive, nearly immeasurable, wealth for a tiny handful of individuals. .

Taking into account the pervasive pro-big-business bias, it is a miracle in a sense, that the public opinion has shifted so far, to the point where antitrust actions can be seen as valid, by enough of the public at large, that these giant monopolistic tech companies are called into question at all.

The miracle, if we call it that, is only a reflection of just how purely evil and out of control the situation has become, and how many people have been harmed, and in how many different ways this harm has occurred.

From teen suicides to thousands of bankrupt and struggling small businesses to privacy rights trampled in the dirt, the list of abuses and harm, if it were ever brought to light, could fill a thousand page treatise and would read like a recounting of the atrocities of war.

And then there’s the fact that the war is fought with computer code and over territory that has no physical address

Much as collateralized debt obligations and other arcane “synthetic” financial products nearly collapsed the entire world economy in 2008, partially due to the intentional complexity, which served only to hide the stupidity, complex computer algorithms are now at the heart of an ever larger and even more dangerous economic debacle that continues to unfold.

And much of the lack of any pushback against this is the simple ability to hide behind the complex computer methods and concepts that have allowed tech giants to build an even bigger and more dangerous kind of monopolistic behavior than even the so called “Robber Barons” of the Gilded Age.

Even those, in government or in the press, who are pushing back are doing so with, apparently, little understanding of the real dangers that are buried in the code and in the tricks used by very sophisticated, technologically educated people in control of these trillion dollar behemoths.

For example, Facebook is already claiming that the government should not be able to question the acquisitions of Instagram and WhatsApp because they already approved the mergers at the time they happened.

In his excellent article published on medium.com , Will Oremus points out:

But I looked up the FTC’s public statements following those reviews, and it states explicitly that the matter should not be considered permanently settled.

“This action is not to be construed as a determination that a violation may not have occurred,” the FTC’s closing letter said. It added, “The Commission reserves the right to take such further action as the public interest may require.” Facebook did not immediately respond to a request for comment.

Also in that article, titled; ‘Competition Is for Losers’: How Peter Thiel Helped Facebook Embrace Monopoly the idea succinctly embodied in the title which refers to a Wall Street Journal piece on Thiel’s book “Zero to One” which he describes as having been “embraced as a business bible in Silicon Valley and beyond” and quotes from including this characterization:

(Thiel) made the case for monopoly as the ultimate goal of capitalism. Indeed, “monopoly is the condition of every successful business,” he asserted. With it, you’re free to set your own prices, think long-term, innovate, and pursue goals other than mere survival. Without it, you’re replaceable, and your profits will eventually converge on zero.

And this provides the context within which the current struggle unfolds. To understand the real dangers of the total domination of the internet, which has become the vital lifeline of our economy and social existence, by a handful of trillion dollar companies, that not only embrace limitless greed and dictatorial status within their industry, but see it as the divine right that they hold, and believe they are entitled to aspire toward without interference.

And in another context such behavior would be known as immoral, destructive to society and social justice, and if the laws are adequate to apply; criminal.

And there’s the rub. The antitrust statutes, possibly already inadequate to take on this new kind of robber, have also been weakened since the 80s. Add to that how the pre-existing biases are heavily slanted toward minimizing any accountability for such behavior and is follows that any real reform must rise from the public at large.

The birth of the internet was anything but immaculate

The tragi-comic farce of the story, when seen through the lens of internet history, is how Facebook, Google and Amazon all followed the same absurd arc.

From “underdogs” with massive losses and no income to ridiculously “valuable” “FANG” members championed from the rooftops as heroic winners of darwinian battles to build out the internet for profit. And, finally, after decades of unfettered expansion, being seen more and more for what they are: profit-seeking scams using each a different method to restrain competition and destroy the most valuable asset humanity has ever built: the internet itself.

The complexity of the scams is still the most useful cloak for them to hide behind, each with a different insanely complicated way to force what is a public asset, the internet, into a tool for private greed, at the expense of any real innovation. And the victims are not the competitor firms that they might have destroyed (or bought), but rather the entire population of any territory that they control, with North America being the center of the empire.

The question asked for example of Google or Facebook should not be, “do they provide any services from the public can benefit, in exchange for their obscenely privileged monopoly control over “search” and “social networking”, respectively. The question should be “are they the best possible solution, from the perspective of what is in the best interest of society, for those extremely important functions in our new digital world.

It is not enough to say that “consumers have chosen” each as their go-to tool. If any company or group of companies could do a better job of enabling humanity to communicate, interact and become educated via the internet, why should those other solutions be buried forever under a mountain of greed and self-interest?

This is the infinitely elusive point: No different than Bernie Madoff, the damage they have wrought, by destroying what could have been, will only be understood once they are either gone or forced to cease what they depend on for domination, which would lead to their ultimate demise over time, just as Peter Thiel himself stated:

Without (a monoply), you’re replaceable, and your profits will eventually converge on zero.

Or as Jeff Bezos explained, in what his become his predatory raison d’être: The competition is always one-click-away. This makes every other online seller, in his view, an enemy that must be destroyed at all costs, no matter how small, no matter how weak.

In this sick paranoid view of the world it is truly an all or nothing struggle for survival, with death of all competitors, literally and figuratively, the only acceptable outcome.

With this mindset at the heart of these companies, and with the government and most of the press taking a milk-toast submissive approach (in contrast) the struggle to rein in these monstrous, utterly corrupt empires, will take years if not decades.

However, 2020 will always be seen as the beginning of the end the the gruesome mistake of history that these companies represent.

Companies that achieved dominance and monopoly control of a system meant for public benefit, through the most destructive methods they were able to devise, and then redoubled efforts infinitely to expand using those same destructive and corrupt methods.

In the end there is only one power large enough to intervene, as already at their current size, and while, like a virus, they double in power and economic domination almost annually, and that is the power of the billions that use their platforms everyday. Change will arise when they have damaged themselves by damaging the very societies they prey on, and once damaged, those societies will have no choice but to shed them like the murderous parasites that they are.

That will not happen anytime soon. The general view of these companies, is still very mild and forgiving. And it’s important to note that each case is different and this article applies only to Facebook, Google and Amazon.

Just as most have either forgiven or forgotten the massive bailouts that criminal companies were gifted during the 2008 financial crisis, the perception that these massive tech companies are at worst mildly anti-competitive and at best harmless and just practicing good, successful capitalism, will not be changed overnight.

It can only come after much more pain at the hands of this corrupt system that currently controls the internet, and therefore, our digital lives.


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Facebook Antitrust Case Kicks-off with a Bang: 46 States on board, Google Next Up as California Joins in

Above: Photo Collage / Lynxotic / Adobe Stock

In a filing at the U.S. District Court in Washington D.C., on December 9th, 2020, the Federal Trade Commission, together with 46 states, plus the District of Columbia and Guam, alleged that Facebook employed anticompetitive tactics, allowing it to bully and bury its rivals. In a strongly worded brief it recommends that the massive company be broken up, specifically by divesting itself of Instagram and WhatsApp.

“For nearly a decade, Facebook has used its dominance and monopoly power to crush smaller rivals and snuff out competition. By using its vast troves of data and money, Facebook has squashed or hindered what the company perceived to be potential threats.”

–New York attorney general, Letitia James, representing the state group, at a news conference

After the 18 month long investigation, charges are finally arriving, well after Facebook has already made extensive retaliatory changes to its products. The changes that were implemented, which interlinked the functionality of Facebook apps with Instagram and WhatsApp, are clearly meant to try and make it technically impossible, or at least difficult for them to function separately again.

This amounts to a way of using computer code to fabricate a “moat”, basically an excuse or impediment which they hope, apparently, would make it impossible to reverse the changes, in the event they are forced to sell off the previously separate companies.

The brazen and obvious action which appears designed to impede and block any remedies that the court could impose is reminiscent of the now infamous “move fast and break things” motto often attributed to Mark Zuckerberg, and the, just as famous, Silicon Valley truism “Ask forgiveness not permission”.

This kind of preemptive obstruction, while not necessarily illegal in any way, is nevertheless a perfect reflection of the attitude also associated with Facebook via Peter Thiel: “Competition is for Losers” phrase which stems from title of a WSJ article on Thiel’s book and which was adopted fondly by the billionaire.

It is important, from a layman’s perspective, to note that being big or being, effectively, a monopoly, is not enough, necessarily, to justify drastic government imposed remedies. The behavior, however, in other words, wether or not there was abuse of the power a monopoly affords, is crucial.

In the past several years Facebook has been found to be guilty of abuses, primarily in European cases, as have Google and Amazon. All the evidence, so pervasive as to be easily noted by even a casual observer, points to a pattern of behavior that could be seen, and possibly even proven to be, predatory and abusive of market power.

The response from Facebook has been anything but substantive, with the initial defense being a very weak statement that the government should not be allowed “do-overs”:

“Those acquisitions were cleared and if you can buy a company, and eight years, 10 years later, the government can clear them and unwind it — that’s going to be a really big chilling problem for American business, we are not going to be competitive around the world,”

Facebook COO Sheryl Sandberg, in a recent interview with Tamron Hall

The facts in no way back up this surprisingly flaccid response, since the mergers were, in fact never, “approved” just not blocked at the time, and in public statements, in writing, the FTC clearly and specifically stated:

“This action is not to be construed as a determination that a violation may not have occurred, The Commission reserves the right to take such further action as the public interest may require.”

As for the decades old “we are not going to be competitive around the world,” comment that is the oldest excuse for awarding big internet companies with special status to run amok going back to Al Gore’s “Internet Superhighway” exemptions from the early 90s.

To quote Kara Swisher in a recent New York Times opinion piece:

“Those charged with regulation have given companies like Google, Facebook and Amazon a very wide berth to grow into some of the most valuable entities in the history of the planet. Their founders are among the richest people ever.”

— Kara Swisher, in the New York Times

And, in case anyone is feeling sorry for poor Facebook, it’s also pertinent to point out that what they claim to need or be entitled to is exactly the kind of special treatment and license to break rules that others would have to abide by.

And that status and privilege is exactly what enabled Facebook (and Amazon and Google) to become so massive and so intensely inclined toward abuse of market power in the first place.

“Action as the public interest may require. “ Remember that phrase, you may be hearing it often, over the next few years, in relation to Facebook, Google and Amazon. And, in the end, it is the public verdict in the marketplace that will ultimately have the power to intercede with enough force to achieve change.


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Amazon declines to join Google, Facebook and Microsoft in French “Tech for Good Call”

As antitrust suits loom, a digital tax appears as additional government option

Related to French “digital tax” hopes, and which may have future repercussions for other tech related regulation attempts, Google, Microsoft, and Facebook have” signs on for the “Tech for Good Call”. Amazon has declined which Apple continues to negotiate, according to reports. 

A list was released by the French government with signatures of 75 executives of tech companies who have signed up to the initiative so far. Notably, the list included Google CEO Sundar Pichai, Facebook’s Mark Zuckerberg and Microsoft President Brad Smith. Amazon’s Jeff Bezos and Apple’s Tim Cook were absent, however. 

Read more: Apple is Coming: Facebook, Amazon and Google Surveillance facing US scrutiny and danger from New Software

For nearly three years President Emmanuel Macron of France has attempted to  convince  tech giants to begin collaborating with governments to seek remedies for a list of global challenges. Examples are; fighting hate speech online, preserving privacy or paying a so-called “digital-tax”, presumably to offset negative economic effects of the overwhelming dominance of big tech.

Reuters reports that Macron’s advisers said on Monday that the president had asked tech companies to sign up to a new initiative called “Tech for Good Call” underlining principles for the post-COVID world. This development comes as “anti-big-tech” sentiment is increasing, particularly during the massive profit spike the giants are enjoying due to a devastating world-wide pandemic.

A general publicity based initiative could be leverage for negotiations to rein in tech giants

Also, according to Reuters, the “Tech for Good Call” includes a non-binding pledge to “contribute fairly to the taxes in countries where (they) operate”; refrain & prevent  the dissemination of “child sexual abuse material, terrorist or extreme violence online contents”; and “support the ecological transition”, in addition to other things.

Read more: Cracks in The Wall: Apple, Google, Amazon and Facebook Silently Declare War

Though not legally binding, it is expected that the French will use this tentative agreement to in negotiations during upcoming global forums on regulating Big Tech.

In addition to antitrust suits underway in the US and Europe, the idea of a “digital tax” is being explored and attempted with France and Australia leading the way.

In an article in today’s Wall Street Journal, citing multiple sources, that federal and state regulators are preparing four or more antitrust cases against the two online giants, separate from the antitrust case that the DOJ and 11 states launched against Google in October

The building chorus for regulation against Google and Facebook stem from the extremely dominant position each holds online, with Google having near total control of search traffic and advertising, while Facebooks monopoly in social media concerns its use of that position to monetize private data through advertising.

Also, according to Reuters, the “Tech for Good Call” includes a non-binding pledge to “contribute fairly to the taxes in countries where (they) operate”; refrain & prevent  the dissemination of “child sexual abuse material, terrorist or extreme violence online contents”; and “support the ecological transition”, in addition to other things.

Read more: Cracks in The Wall: Apple, Google, Amazon and Facebook Silently Declare War

Though not legally binding, it is expected that the French will use this tentative agreement to in negotiations during upcoming global forums on regulating Big Tech.

In addition to antitrust suits underway in the US and Europe, the idea of a “digital tax” is being explored and attempted with France and Australia leading the way.

In an article in today’s Wall Street Journal, citing multiple sources, that federal and state regulators are preparing four or more antitrust cases against the two online giants, separate from the antitrust case that the DOJ and 11 states launched against Google in October

The building chorus for regulation against Google and Facebook stem from the extremely dominant position each holds online, with Google having near total control of search traffic and advertising, while Facebooks monopoly in social media concerns its use of that position to monetize private data through advertising.

“The supportive chorus of elected officials is giving assurance to [the U.S. Department of Justice (DOJ)] and the [Federal Trade Commission (FTC)] that they have the political support they need to blunt [the companies’] efforts … to pressure the agencies to back off or water down their cases,” former FTC Chairman William Kovacic told WSJ.


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ByeDon: GSA has formally acknowledged Biden as the apparent Election winner

Trump, at the same time, said he was still not conceding

The first crack in Humpty-Trumpty’s fall is here. After more than two weeks since his victory in the electoral college was known, President-elect Joe Biden has been officially cleared to formally start his transition to the White House.

The General Services Administration, or GSA, has sent a letter and thereby formally acknowledged Biden as the apparent winner of the presidential election. This letter will allow him and his team to begin officially working on all aspects of the transition.

Non-concession concession, in a tweet, of course

“Nevertheless, in the best interest of our Country, I am recommending that Emily and her team do what needs to be done with regard to initial protocols, and have told my team to do the same.”

Trump in Tweet on November 23rd, 2020

Trump, in a somewhat confused tweet, appears to concede, or at least accept that he can not block what is inevitable, and yet still clings to his “I believe we will prevail” line.

Read more: Biden will Nominate John Kerry, Janet Yellen, Avril Haines & Alejandro Mayorkas, more, to Cabinet

However the important part: “Nevertheless, in the best interest of our Country, I am recommending that Emily and her team do what needs to be done with regard to initial protocols, and have told my team to do the same.” Was there for all to see in the second section of the tweet.

The president-elect cannot access federal transition funds or contact federal agencies to plan staffing, as per federal law, until the GSA recognizes him as the electoral winner.

Apparently this was all an off-the-cuff-tweet-scenario, as there were reports that various senior staff in the White House were unaware of this development, until having read the tweet themselves.

Read more: Giuliani’s Dripping Head and ‘My Cousin Vinny’ Dominate Fraud Presser in Desperate Sweaty Stammering Mess

Many White House officials have said in confidence, according to reports, that they have been pushing for this next, important step, and only Rudy Giuliani was against moving forward.

“Today’s decision is a needed step to begin tackling the challenges facing our nation, including getting the pandemic under control and our economy back on track”

— Johannes Abraham, transition executive director for Biden / Harris, in a statement Monday

Until now the GSA has remained silent, thus limiting the President-elect from proceeding in some aspects of the transition. Now that the GSA has acknowledged formally via this letter,  Biden‘s team will have access to more than $7 million of public funds.


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Apple Search Plans & Potential are Casting a Massive Shadow on Google Anti-Trust Case

Above: Photo Collage / Lynxotic

Search Battle Lynxotic Predicted is about to Breakout Big time

In a year that has already offered AppleOne5G, and perpetual AirTag teases, Apple Inc might have yet another major project hidden up its sleeve. According to a report from the Financial Times, the tech company has recently partaken in research and development indicative of creating a new original search engine.

Read More: Apple iPhone 12 Pro Models are Here and There’s More

For years, Google has been the default search engine on Apple devices. This is part of an ongoing deal between the two companies where Google pays Apple a pretty penny to foreground their services. Now, however, Google is facing an antitrust suit from the Department of Justice. This case claims that Google has a monopoly over search and directly sites its relationship with Apple as evidence.

If the DOJ manages to win against Google, it could be the end of its search engine arriving pre-encrypted in all iPhones, iPads, and Macs. Thus, an in-house Apple search engine comes at an opportune time. Not only will it provide Apple with a new default search platform, but it will also muster some competition against Google— one of the things that the antitrust case desperately calls for.

Any Engine at All by Apple is Earth-shattering to the Status Quo of Big Tech

Nothing is set in concrete about this speculative Apple search engine yet. All we know for sure is that the latest version of iOS 14 shows signs of increased search technology. Under the upgraded operating system, iPhone users can type in questions directly on their devices’ home screens and arrive at Internet results without any middleman. This has also led to an uptick in Apple’s spidering tools, which comb and datafy the web for a smoother search experience. 

These changes in iOS 14 are subtle, but given the context, they could be laying the seeds for something much larger. Tellingly, former Google head of search John Geannandrea also oversees these recent Apple advancements. Geannandrea joined Apple three years ago, and while his main focus at the company has been Siri thus far, he obviously has the expertise and experience for helming a Google-like project.

Some believe that Siri is the base of Apple’s increased search interests. Perhaps the new technologies are simply working to refine the voice assistant rather than setting up a wholly alternative Google competitor. At the same time, though, with the proper expansion, Siri could very well evolve into a worthy Google rival, especially if it becomes the one-stop search engine on all Apple devices.For now, users will just have to wait while events unfold. Experts say that the antitrust case against Google will go on for years, and if Apple is indeed developing its own search engine alternative, it will likely take just as long.


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Looming Economic Collapse and Ways to Prepare; Historic Echos and Warnings

Photo Collage / Book Publishers

2008 and it’s Aftermath was a Wake Up Call that was Heeded by Virtually No-one

There are many good films on the economic collapse of 2008 (The Big Short is a favorite), also known as “The Great Recession” for fear of using the “D” word. Books too have opined on the lessons learned and, in some cases, taken dubious credit for the “rescue” of the world economy.

Read More: Conspiracy Theories are gaining adherents like never before: where’s the Reality?

Watched or read closely, these books, with the exclusion of the self-congratulatory ones mentioned above, all point to a sobering conclusion: the underlying issues that nearly led to a protracted worldwide economic collapse were not solved or fixed but “the can was simply kicked further down the road”.

Unfortunately, they also agree that “further down the road”, currently around 11 years later, translates to “soon”. Accordingly, we’d all be wise to revisit the 2008 crisis and read some of the conclusions, in detail, that have been drawn from a deeper study of the remaining and very serious issues faced as we go further forward into the 2020’s.

So much of our destinies are tied to economics, it is always a wise area to begin to look for solutions to all macro-dilemmas 

Of course, now, in a crowded life-raft of a planet, we also have the rising threat of Climate Change, the ongoing and terrifying challenges associated with global pandemics and sociopolitical trends, that point towards anything but harmonious co-operation, within and between societies around the world. 

All the more reason to embrace what at times appears to be the lone bright spot, in this saga of seemingly-endless doom and gloom: we have educational resources available and the modern marvel of human-networked-communication devices (a.k.a. the internet and the software and hardware we use to access it), is becoming a more powerful ally by the hour. 

Here are books we highly recommend to start your journey towards your heroic contributions to finding solutions and hope, as we look to the future:

The Great Devaluation: How to Embrace, Prepare, and Profit from the Coming Global Monetary Reset

Click here to see “The Great Devaluation
and help Independent Bookstores.
Also available on Amazon.

The Great Devaluation is the #1 bestselling book that explains why the real crisis facing the world today is not the Coronavirus. The real crisis facing the world is explosive government debt and deficits. Governments are now left with no choice but to spend more than they make, borrow more than they can ever repay, and devalue their currencies to cover it all up.

Former Hollywood storyteller Adam Baratta brings monetary policy to life in this follow-up to his national bestseller, Gold Is A Better Way. You’ll learn how and why Federal Reserve polices have facilitated an explosion in government debt and have systematically undermined the world financial system in the name of profit. The result? An out of control system where financial inequality has become a ticking time bomb set to blow up the global economy. Click here to see “The Great Devaluation” and help Independent Bookstores. Also available on Amazon.

Crashed: How a Decade of Financial Crises Changed the World

Click here to see “Crashed
and help Independent Bookstores.
Also available on Amazon.

We live in a world where dramatic shifts in the domestic and global economy command the headlines, from rollbacks in US banking regulations to tariffs that may ignite international trade wars. But current events have deep roots, and the key to navigating today’s roiling policies lies in the events that started it all–the 2008 economic crisis and its aftermath.

Despite initial attempts to downplay the crisis as a local incident, what happened on Wall Street beginning in 2008 was, in fact, a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. With a historian’s eye for detail, connection, and consequence, Adam Tooze brings the story right up to today’s negotiations, actions, and threats–a much-needed perspective on a global catastrophe and its long-term consequences. Click here to see “Crashed” and help Independent Bookstores. Also available on Amazon.

Manias, Panics, and Crashes: A History of Financial Crises, Seventh Edition

Click here to see “Manias, Panics, and Crashes
and help Independent Bookstores.
Also available on Amazon.

This seventh edition of an investment classic has been thoroughly revised and expanded following the latest crises to hit international markets. Renowned economist Robert Z. Aliber introduces the concept that global financial crises in recent years are not independent events, but symptomatic of an inherent instability in the international system.

Covering such topics as the history and anatomy of crises, speculative manias, and the lender of last resort, this book puts the turbulence of the financial world in perspective. Click here to see “Manias, Panics, and Crashes” and help Independent Bookstores. Also available on Amazon.

The Fed and Lehman Brothers: Setting the Record Straight on a Financial Disaster

Click here to see “The Fed and Lehman Brothers
and help Independent Bookstores.
Also available on Amazon.

The bankruptcy of the investment bank Lehman Brothers was the pivotal event of the 2008 financial crisis and the Great Recession that followed. Ever since the bankruptcy, there has been heated debate about why the Federal Reserve did not rescue Lehman in the same way it rescued other financial institutions, such as Bear Stearns and AIG. The Fed’s leaders from that time, especially former Chairman Ben Bernanke, have strongly asserted that they lacked the legal authority to save Lehman because it did not have adequate collateral for the loan it needed to survive.

Based on a meticulous four-year study of the Lehman case, The Fed and Lehman Brothers debunks the official narrative of the crisis. It shows that in reality, the Fed could have rescued Lehman but officials chose not to because of political pressures and because they underestimated the damage that the bankruptcy would do to the economy. The compelling story of the Lehman collapse will interest anyone who cares about what caused the financial crisis, whether the leaders of the Federal Reserve have given accurate accounts of their actions, and how the Fed can prevent future financial disasters. Click here to see “The Fed and Lehman Brothers” and help Independent Bookstores. Also available on Amazon.

Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System–And Themselves

Click here to see “Too Big to Fail
and help Independent Bookstores.
Also available on Amazon.

Brand New for 2018: an updated edition featuring a new afterword to mark the 10th anniversary of the financial crisis. The brilliantly reported New York Times bestseller that goes behind the scenes of the financial crisis on Wall Street and in Washington to give the definitive account of the crisis, the basis for the HBO film.

In one of the most gripping financial narratives in decades, Andrew Ross Sorkin–a New York Times columnist and one of the country’s most respected financial reporters–delivers the first definitive blow-by-blow account of the epochal economic crisis that brought the world to the brink. Through unprecedented access to the players involved, he re-creates all the drama and turmoil of these turbulent days, revealing never-before-disclosed details and recounting how, motivated as often by ego and greed as by fear and self-preservation, the most powerful men and women in finance and politics decided the fate of the world’s economy. Click here to see “Too Big to Fail” and help Independent Bookstores. Also available on Amazon.

Crash of 2008 and What It Means: The New Paradigm for Financial Markets

Click here to see “The Crash of 2008
and help Independent Bookstores.
Also available on Amazon.

In the midst of one of the most serious financial upheavals since the Great Depression, George Soros, the legendary financier and philanthropist, writes about the origins of the crisis and proposes a set of policies that should be adopted to confront it.

Soros, whose breadth of experience in financial markets is unrivaled, places the crisis in the context of his decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world. Click here to see “The Crash of 2008 and What it Means” and help Independent Bookstores. Also available on Amazon.


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Launch of SpaceX’s Starlink and iPhone 12 5G highlights inferior US Broadband: will shake-up ISPs

Above: Photo Collage / Lynxotic / SpaceX

The problem of slow and expensive broadband access in the USA is not a technological one. The US lags behind due to the pseudo-geographical monopolies held by various ISPs and the ability they have enjoyed to be able to gouge customers with high priced bad service. Lack of competition often results in slow progress or no progress. 

That is all about to change. You don’t need to have a technician to analyze the various 5G systems, or compare carriers chances of “winning” to realize that the very fact that speeds and options are increasing exponentially is going to re-write the map when it comes to who controls the cash-cow subscription gravy train. That system is about to collapse.

Read More: The iPhone 12 could see a Serious Sales Boom for Apple due to 5G and Starlink Internet

In steps Elon, and his little copy-cat-side-kick Jeffy Bezos, and now the landscape is about to become unrecognizable

First, 5G speeds rival or exceed the former fixed / desktop speeds which had commanded a premium for the geographically entrenched providers. 5G home systems will also be available in many areas that will be competitive in speed, price and convenience.

SpaceX’s Starlink is a serious project; with nearly 1000 satellites already in orbit out of an eventual 12,000 and launches continuing almost weekly with 60 each time. This ambitious plan will eventually completely encircle the earth with interconnected satellites that will link through intermediary “ground stations” with up to 1 million planned for USA alone. Each ground station is just under 19 inches (.48 m) across.

Read More: Elon Musk broadband milestone as SpaceX Starlink Public beta begins, nearly 800 Satellites Orbiting

“It looks like a UFO on a stick,” according to SpaceX CEO Elon Musk “It’s very important that you don’t need a specialist to install. The goal is for … just two instructions and they can be done in either order: Point at sky, plug in.”

Satellite Broadband, such as SpaceX’s Starlink will not only add ubiquitous 100mbps and higher, low latency coverage, it will also cover the same areas with high population density, major cities, where both current systems and 5G are also focusing. 

Exact pricing is as yet unknown but it is extremely likely that there will be a high pitched battle over customers once the various systems go into the next phase of the rollout. And all of this is not factoring in additional players in 5G and satellite systems.

Longer term (2 years +) there will be major world-wide implications of this shift toward more and faster options in internet connectivity

The first shift, primarily driven by the geographical independence of satellite broadband such as Starlink, will be a decentralization of populations at massive scale. While we are looking at a world where, due to the current pandemic countermeasures, WFH a.k.a. work-from-home is becoming more than a temporary factor. As many as 20 major companies such as Google and Microsoft have announced extended or permanent work-from-home policies as of October 2020. 

There are already plenty of very serious discussions about what will be done with all the skyscrapers and office buildings once there are no workers to fill the offices. This is not idle chit-chat. A migration has already begun away from the insanely overpriced rents and home prices in places like Silicon Valley, to take advantage of the work-from-home-anywhere approach.

Extrapolate based on increased speed and availability of connectivity to millions of locations not currently viable, each of which soon to have internet at minimum speeds rivaling the current world champion Liechtenstein (see above), and you will recognize the beginnings of an exodus of epic proportions.

Just in time, unfortunately, for an economic upheaval due to the aftermath of the still-ongoing global pandemic and, of yes, the issues of accelerated global warming, which will, coincidentally, affect costal “elite” cities like Miami, SanFrancisco, New York and others around the world to a disproportionally large degree. 

“The reality is that a technological utopian vision, one where the world is able to shift to sustainable energy and regenerative farming, and create economies based on prosperous and equal distribution of the wealth generated by those systems, [along with AI and robot technology powered by sustainable clean energy], can only be realized by an acceleration of learning and positive social change. “

-DL

These changes, to be clear, are not all “bad” nor are they all the cause of negative side-effects such as the current covid-19 outbreak. 

The reality is that a technological utopian vision, one where the world is able to shift to sustainable energy and regenerative farming, and create economies based on prosperous and equal distribution of the wealth generated by those systems, [along with AI androbot technology, powered by sustainable clean energy), can only be realized by an acceleration of learning and positive social change

Change is urgently needed to build out the human networked communication system that will enable the learning and cooperation which is the only hope for the survival of our species. 5G, the iPhone 12 and SpaceX’s Starlink Satellite Broadband are going to be huge factors, in making the first baby-steps toward that change, possible.. 


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The Real Meaning of 5G, iPhone 12 Pro and the SpaceX Race to build Satellite Broadband

Above: Photo Collage / Lynxotic / Adobe Stock

The Confusion around 5G goes far beyond the political-nonsense conspiracy theories

Most articles on 5G since the Apple iPhone 12 launch event on October 13th have been looking in the rearview mirror to predict the future: 5G will “disappoint” due to the slow buildout, technical limitations of the format, and various issues with all the competing systems and carriers, and these arguments are casting doubt on the much touted potential. 

Read More: Apple iPhone 12 Pro Models are Coming Immediately and There’s More

This perspective misses the point on so many levels, it’s difficult to know where to begin to unpack the myriad of misunderstandings.

Much of the technical discussion has been focused on the various flavors of 5G and the associated limitations and advantages of each. The fact that the fastest 5G, which goes by the sub-category moniker millimeter wave, is not instantly available everywhere for the 5G capable iPhones, and that they will not be in the hands of most consumers before next year, has been met with feigned shock and bewilderment.

And further, many highlight the confusion mounting over the various providers and the various flavors: 5G, 5G E, 5G UW or 5G+ as they are designated by “service indicators” on the iPhone 12 itself.  Verizon Communications Inc., T-Mobile US Inc. and AT&T Inc. each have their own systems they have developed and are building out – looking for a piece of the 5G market, expected to be around $1.15 trillion by 2025.

First and foremost – since Apple and iPhone are the leader of all innovations in the marketplace – not necessarily by the sheer number of handsets sold, but by the focus on increasing technical and aesthetic quality, and appealing to the top demographic, not to mention the majority of early adopters, it is precisely the fact that, until now, the iPhone 5G handset did not yet exist, that the buildout is not further along. 

The fact that, in real-world tests, it is already performing at up to 7 times the fastest previously available connections, was coupled inevitably with the caveat; physical locations where these speeds can be accomplished are currently hard to find. 

Due to the technical issues with this ultra-high speed version of 5G; the inability to travel more than very short distances and the lack of ability to penetrate obstacles or walls, the possibility to get these amazing speeds are, at present, more likely to be found at outdoor locations. 

This is, admittedly, an odd conundrum, but you can be sure, with the upcoming massive increase in competition for ISP customers, it is one that will find at least some viable solutions very soon. There are many billions at stake for those that can find ways to improve this issue. 

“Standing in front of a camera store in South of Market, I got 5G speeds reaching 2,160 megabits a second, which was 2,900 percent faster than 4G. Even where it was a tad slower — behind the Safeway parking lot in the Marina district — the 5G iPhone drew speeds of 668 megabits a second, which was 1,052 percent faster than 4G.”

 – Brian X. Chen for the New York Times

The carriers have not had the market to build for, and needed to be pushed by a huge influx of iPhone 12 owners. Then, meaning now, they will begin to compete with one another for that extremely lucrative group of users. That rising competitive battle is not the only one looming on the horizon. 

Regardless of the ultimate time frame of the build-out, there is an obvious and very meaningful conclusion that we can reach here: 1 year from now things will look very different in the options available for those who want to work and play with the help of a faster internet connection (meaning, obviously, everybody).

RankCountryDownload Speed (Mbps)Upload Speed (Mbps)# Download Tests# Upload TestsNo. IPs
1Liechtenstein199.2839.78969810
2Hong Kong112.3291.4047825589933
3Denmark107.7866.022149522217912
4Switzerland93.6041.4465614743501907
5Netherlands93.4827.5889478939709044
6Sweden91.3686.0420812238752071
7Iceland80.1924.3031443555
8Finland79.4018.39948710395526
9Andorra76.6756.2015917633
10Bermuda74.2119.2758963146
11San Marino61.899.76433
12Norway58.9549.7313841142982083
13United States54.9910.4519723352126398364898
source: fastmetrics

As can be seen from the chart above in early 2020 the US ranked 13th in desktop download speed while mobile speeds ranked even worse coming in at #33 (various sources have US at #10 for fixed broadband). Liechtenstein is nearly 4x faster, on average, than the US. Also note that the highest average is one-tenth to one-twentieth of the eventual “ideal conditions” speeds of 5G.

Failure of the US Broadband infrastructure and the coming shake-up in the ISP system grid-lock

The problem is not a technological one. The US lags behind due to the pseudo-geographical monopolies held by various ISPs and the ability they have enjoyed to be able to gouge customers with high priced, bad service. Lack of competition often results in slow progress, or no progress. 

That is all about to change. You don’t need to have a technician to analyze the various 5G systems, or compare carriers chances of “winning” to realize that the very fact that speeds and options are increasing exponentially is going to re-write the map when it comes to who controls the cash-cow subscription gravy train. That system is about to collapse.

In steps Elon, and his little copy-cat-side-kick Jeffy Bezos, and the landscape is about to become unrecognizable

First, 5G speeds rival or exceed the former fixed / desktop speeds which had commanded a premium for the geographically entrenched providers. 5G home systems will be available in many areas that will be competitive in speed, price and convenience.

Read More: Elon Musk broadband milestone as SpaceX Starlink Public beta begins, nearly 800 Satellites Orbiting

SpaceX’s Starlink, with nearly 1,000 satellites already in orbit out of an eventual 12,000, with launches continuing almost weekly with 60 in each launch, is a serious project. This ambitious plan will eventually encircle the Earth completely with interconnected satellites that will link through intermediary “ground stations” with up to 1 million planned for USA alone. Each ground station is just under 19 inches (.48 m) across.

“It looks like a UFO on a stick,” according to SpaceX CEO Elon Musk “It’s very important that you don’t need a specialist to install. The goal is for … just two instructions and they can be done in either order: Point at sky, plug in.”

Satellite Broadband, such as SpaceX’s Starlink will not only add ubiquitous 100mbps and higher, low latency coverage, it will also cover the same areas with high population density, major cities, where both current systems and 5G are also focusing. 

Exact pricing is as yet unknown, but it is very likely that there will be a high-pitched battle over customers, once the various systems go into the next phase of the rollout. And all of this is not factoring in additional players in 5G and satellite systems.

Longer term (2 years +) there will be major world-wide implications of this shift, toward more and faster options in internet connectivity

The first shift, primarily driven by the geographical independence of satellite broadband, such as Starlink, will be a decentralization of populations at massive scale. While we are looking at a world where, due to the current pandemic countermeasures, WFH a.k.a. work from home is becoming more than a temporary factor. As many as 20 major companies such as Google and Microsoft have announced extended or permanent work-from-home policies as of October 2020. 

There are plenty of very serious discussions about what will be done with all the skyscrapers and office buildings once there are no workers to fill the offices. This is not idle chit-chat. A migration has already begun away from the insanely overpriced rents and home prices to take advantage of the work-from-home-anywhere approach.

Extrapolate, based on increased speed and availability of connectivity to millions of locations not currently viable, will soon have internet at minimum speeds rivaling the current world champion Liechtenstein (see above), and you see the beginnings of an exodus of epic proportions. Just in time for economic upheaval, due to the aftermath of the still ongoing global pandemic, and yes, the issues of accelerated global warming, which will, coincidentally, affect costal “elite” cities like Miami, San Francisco, New York and others around the world to a disproportionally large degree. 

“The reality is that a technological utopian vision, one where the world is able to shift to sustainable energy and regenerative farming, and create economies based on prosperous and equal distribution of the wealth generated by those systems (along with AI plus robot technology (powered by sustainable clean energy), can only be realized by an acceleration of learning and positive social change.

-DL

These changes, to be clear, are not all “bad” nor are they all the cause of negative side-effects such as the current covid-19 outbreak. 

Read More: “Kiss The Ground” Documentary Offers Hopeful Remedy To Climate Change Focusing On Soil Regeneration

The reality is that a technological utopian vision, one where the world is able to shift to sustainable energy and regenerative farming, and create economies based on prosperous and equal distribution of the wealth generated by those systems, (along with AI, robot technology powered by sustainable clean energy), can only be realized by an acceleration of learning and positive social change

Change is urgently needed to build out the human networked-communication-system that will enable the learning and cooperation which is the only hope for the survival of our species. 5G, the iPhone 12 and SpaceX’s Starlink Satellite Broadband are going to be huge factors, in making the first baby-steps toward that change, possible. 


Check out all our Apple Coverage

Subscribe to our newsletter for all the latest updates directly to your inBox.

Find books on Big TechSustainable EnergyEconomics and many other topics at our sister site: Cherrybooks on Bookshop.org

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Lynxotic may receive a small commission based on any purchases made by following links from this page.

The Justice Department finally issues antitrust suit against Google for “unlawfully maintaining monopolies”

Internet giants finally receiving long overdue legal scrutiny

After months of investigation and inquiry, the United States’ Justice Department has formally accused Google of illegally sustaining a monopoly over search and search advertising in America. The Department filed the lawsuit on October 20th in the U.S. District Court, beginning what could be a turning point in the Internet economy.

Read More: Amazon, Facebook, and Google will be accountable if Anti-trust law revisions hold

Republicans and Democrats alike have been watching big tech companies for a while now, scrutinizing the big four—Google, Apple, Facebook, and Amazon – as they’ve grown into corporate behemoths and played cat-and-mouse with American antitrust laws. Only now is the federal government (along with over forty states and jurisdictions that have investigated Google) finally making a move to attempt to keep these juggernauts in check.

Antitrust laws essentially make sure that American businesses cannot develop into illegal monopolies. Monopolies are illegal if they are established or maintained through improper conduct, sfor example, exclusionary or predatory acts. 

Conventionally, the laws protect consumers from situations where a single company holds all of the supply. In the current digital age, though, most of these services are nominally free to consumers. Nevertheless, they can still become hegemonic at the expense of competition.

Because the site’s ascendency has left consumers with the impression that they are unaffected, superficially, Google personnel have long been able to refute the fact that they hold a proper monopoly. However, given that eighty percent of Internet searches go through Google, many politicians (and users) suspect something legally dubious at hand.

As is also the case with Amazon and Facebook there are, like an iceberg of crimes hiding beneath the waterline, these giant firms are engaged in many practices are highly anticompetitive. The behaviors, however rampant,  have either gone unnoticed or, in a purported attempt to bolster internet commerce in a general way, have been intentionally overlooked by governing bodies for decades.

In order for the case to effectively convict Google on antitrust laws, the Justice Department must prove two things. First, that Google has dominance over search. Second, that it actively stifles competition in the search market through deals with other companies.

The fact that Google has dominance over search is quite hard to argue against nowadays. To sell the second part of the case, however, the DOJ will have to look into Google’s business behaviors and deals with other companies such as Apple.

Google essentially pays Apple up to $11 billion to be the default search engine on all iPhones, iPads, and Macs. This is just one example of Google buying its way to the top of the market and making sure that other search engines do not stand a chance.

Of course, Google denies doing anything illegal or sidestepping antitrust laws. The company argues that users actually retain choice when it comes to search engines, but people consistently go to Google for quality. As for the deals with companies like Apple, Google likens it to a cereal brand paying a grocery store for a better spot on the shelf. To Google, it’s simple business.

The courts, however, might not find it quite so simple, as many politicians are reframing antitrust laws in their perspective toward the case and the online marketplace.

This is not the end of the story but barely the beginning with many revelations yet to come

American antitrust laws, and how they are applied, are severely outdated. Most of them were written over a century ago when computers (let alone the Internet) were hardly a concept. Despite a few public outings where tech moguls have had to answer before Washington, the Federal government has not taken much action against these massive modern institutions. Exceptions include a 2001 antirust case against Microsoft for maintaining a monopoly over PC software and a former near-trial against Google when the Federal Trade Commission investigated the Alphabet Inc. for antitrust in the early 2010s.

Meanwhile, other countries have been far more active in holding big tech accountable. The European Union enforces much more timely antitrust policies, and has brought three cases against Google in recent years.

In America, however, Google has been riding off of the free market since its very conceptualization at Stanford University in 1998. The same could be said for Amazon, or Facebook and their respective, nearly mythic, ostensibly humble origins. While this nation’s laws and economy give companies the unique ability to grow, thrive, and expand into global phenomenon, they also have a duty to protect the people and even the playing field when those same companies abuse freedom or gain too much power.

This case will not be a short ride. It will likely take years, but such is the slow, magnificent, changing tide of justice and progress.


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Covid-19 Documentary Exposes still more inside details of Trump’s failure to contain the Pandemic

Made in secrecy during the past 6 months with interviews from administration insiders

Just when it seemed like 2020 could not get any stranger, President Donald Trump announced via Twitter on October 2nd that he and First Lady Melania Trump tested positive for COVID-19. In what some would see as a ‘karmic’ coincidence, within twenty-four hours of this breaking news, Neon media dropped a trailer for the new documentary “Totally Under Control,” which focuses on the President and his administration’s unsuccessful response to the coronavirus. 

Read More: Tweets Reacting to Trump-Covid are Evolving at Warp Speed

“Totally Under Control” is the second Trump-focused project from documentarian Alex Gibney. Earlier this year, the director released “Agents Of Chaos,” an HBO mini-series centered on Russian involvement in the 2016 election. Gibney is also responsible for the 2010 Oscar nominated doc, “Client 9: The Rise And Fall Of Eliot Spitzer” and the 2007 Oscar winner, “Taxi To The Dark Side.” Most of his films take on timely topics through an investigative lens. “Totally Under Control” will be no different. 

Unsurprisingly, Gibney latest movie condemns the Trump administration, as it chronicles how the President handled the coronavirus across the first half of 2020. Its synopsis states: 

“On January 20th, 2020 the US and South Korea both discovered their first cases of COVID-19. However, nine months later, the novel Coronavirus has claimed the lives of over 200,000 Americans and caused staggering economic damage, while in South Korea, there were no significant lockdowns and, in an urbanized population of 51 million, only 344 lives have been lost. Where did we go wrong?” 

Read More: Donald and Melania Trump tested positive for Covid-19

The film aims to answer this question and shed light on America’s complicated, corrupted, and fruitless reaction to the global pandemic. To do this, Gibney uses news footage from the past ten months— much of it showing Trump’s early, woefully dismissive thoughts on the coronavirus before it hit the United States.

He also interviews experts from doctors, to scientists, to government officials, all of whom agree that the current administration’s reaction to COVID was absolutely abhorrent from the start. 

The trailer plays out like that of a disaster movie, beginning with former Biomedical Advanced Research and Development Authority leader, Rick Bright explaining, “The scientists knew what to do for the pandemic response. The plan was in front of us, but leadership would not do it.” Bright goes on to recall how he tired bringing this vital information to the public, but was consequentially fired from his federal position. 

As the trailer unfolds, the music gets more and more intense. The interviewees retell the all-too-familiar 2020 story of how COVID got worse by the day and the United States government did nothing to combat it. Meanwhile, quasi-apocalyptic images of ubiquitous ambulances, omnipresent sirens, medial personnel in hazmat suits, restless political rallies, and so on flash across the screen.

All the while, Trump’s voice comes in and out with infamous phrases such as “It will disappear,” “It will be wonderful,” and most egregiously, “I don’t take responsibility at all.” 

Art imitates life as covid disbeliever enters hospital after contracting virus that affects ‘almost nobody’

Today, these statements are more ironic than ever before, as Trump himself has been checked into the Walter Reed Medical Center in Bethesda, Maryland for COVID. The diagnosis occurred just two days after the first presidential debate, where Trump continued to downplay the coronavirus in favor of reopening the country. 

“Totally Under Control” will be available On-Demand starting October 13th and will stream on Hulu starting October 20th. Although the film focuses on current (and ongoing) events, it is not the first piece of media to tackle the coronavirus, and it surely won’t be the last.

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Online Media next Fatality after Coronavirus Causes 50% Ad Income Decline?

photo collage / Lynxotic / adobe stock

Both New and Old Media in Battle to Survive

Local print and digital news industries have been in a fragile state for the past decade or so. As print journalism becomes outdated, digital news grows oversaturated, and Facebook and Google dominate the online advertising market, newspapers—both young and old, established and local—have been downsizing, reprogramming, and, in some cases, abandoning operations. Now, with the COVID-19 pandemic tanking the economy, these papers are getting yet another potentially fatal blow, this time at a moment when we need them the most.

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While subscriptions to various outlets could certainly be higher, the real culprit behind the industry’s recent setback has been a lack in ads. With businesses are closing their doors and the stock market chronically sinking amidst orders for most consumers to stay at home. Temporarily shut down businesses with no active customers naturally have no purpose in increasing or continuing advertising campaigns. People are steadfastly living in isolation, pausing the conventional market flow and thus rendering most ads futile or impotent at best.

Unfortunately for many news media outlets, ads are where most of the revenue comes from. Advertisements fund nearly all of the journalism that makes these publications worthwhile. While actual subscription sales do a part of the job, their contributions are meager compared to the ads. Therefore, while isolation might actually yield increased readership, the ad supported outlets still face financial losses and sink further into debt during this crisis.

While Journalism Struggles America Needs Professional Reporting more than Ever

“Crisis” is the apt word for the present situation, which should speak volumes to the current necessity for quality journalism. Fear, half-truths, political discord, and downright uncertainty grips the nation. The Press has a longstanding Democratic obligation to keep Americans informed and feed them the whole truth. If it ceases to operate—especially in these unstable times—then people may turn to unreliable sources, court misinformation, and render the already scary situation even more dangerous.

In previous periods when journalism hit roadblocks, such as during the Great Recession in 2008, most papers found ways around the situation by increasing pay walls on digital services or seeking private funding. These options might still be available for major publications like The New York Times or The Washington Post. However, smaller, local and regional news outlets are unlikely to find similar rescue options.

A Huge Need For Local and Regional Reporting Exists

Local news organizations are the most vulnerable outlets during the COVID-19 pandemic, as they have tighter readerships, rely on smaller business ads, and don’t share the same major connections that some of the bigger publications boast. They are no less important, though, as they cater to parts of the country removed from urban hubs and spread localized information to contained populations.

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Consequentially, the News Media Alliance and America’s Newspapers—two trade associations representing over 2000 newspapers both big and small—are turning to the federal government for help. On March 30th, NMA President David Chavern and America’s Newspapers CEO H. Dean Ridings penned a letter to President Donald Trump, House Speaker Nancy Pelosi, and Senate Majority Leader Mitch McConnell. In the letter, they beseech the feds for relief funding, making a case for journalists as essential workers and crucial parts of the current fight against COVID-19.

Given Trump’s reputation for badmouthing journalists and attacking news sources, the outcome of this plea is unclear. Nevertheless, these are unconventional circumstances, and with the more likely support of Democrat Nancy Pelosi, perhaps the newspapers stand a fighting chance.

In the meantime, however, things are sadly only getting worse for America’s newspapers. According to PressGazette on April 1st, newspaper ad revenues have dropped by 50% since the corona virus shutdowns began. With newsrooms clearing out and many journalists working from home, papers are growing pickier about who and what is essential, cutting costs by laying off personnel and printing fewer stories.

And all of this happening at a time when the Press perseveres as a last line of defense between truth and hysteria.

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These Films are not about Pandemics: They are about Finding Ways to Triumph in the Face of Great Adversity

Stories from Past Crises can Reveal New Insights as we Encounter huge Challenges

https://movietrailers.apple.com/movies/paramount/thebigshort/thebigshort-onlinespot_h1080p.mov

The reality is sinking in, slowly, that the future is truly unknowable and that big changes and even bigger challenges are looming. Twin shocks of a health emergency and a financial crisis, intertwined and yet with separate trajectories, are still to be resolved in our near future.

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And then there’s the myriad of other challenges that were already acute, such as global warming and the “other” epidemic; corruption and greed. It’s almost too much to face up to, and no one can be blamed for wanting to just turn away.

Too much has been glossed over. After the 2008 crisis we all just wanted to put that ugly mess behind us and get on with our lives. I suppose the criminals that netted billions as a “reward” for almost destroying the entire global economy were also eager to just move on.

All that as it may be, perhaps, a way to begin the process of regaining our courage and looking into the future with some kind of hope, or at least a deeper understanding of the human dilemma and historical precedents, might be to enjoy films about small moments of triumph before great adversity. Here are a few recent options:


The Big Short

https://movietrailers.apple.com/movies/paramount/thebigshort/thebigshort-fte1_h1080p.mov

Barely 12 years ago, the financial collapse and ensuing “Great Recession” was a nightmare scenario. The aftermath of that debacle is also a contributor to the economic dangers we see before us in 2020. This film, likely the best based on that era, highlights how outsiders and misfits were able to prosper, even as they witnessed the corruption, failure and systemic injustice that brought the world to the brink of total economic chaos.

Starring: Christian Bale, Steve Carell, Ryan Gosling and Brad Pitt.


Anthropocene: The Human Epoch

https://movietrailers.apple.com/movies/independent/anthropocene/anthropocene-trailer-1b_h1080p.mov
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For a bird’s-eye overview and scientific perspective – Athropocene is a film for those ready to think deeply on how, once beyond the immediate danger, we would want to emerge into a new era as a species. A positive reaction to the current crisis, worldwide, has been a series of ideas and proposals that show a willingness to confront the challenges from an entirely new perspective. Maybe new leadership can mean starting over and making a pledge to try a new approach to literally everything.

‘The film follows the research of an international body of scientists, the Anthropocene Working Group who, after nearly 10 years of research, argue that the Holocene Epoch gave way to the Anthropocene Epoch in the mid-twentieth century as a result of profound and lasting human changes to the Earth.”


Unbroken

https://movietrailers.apple.com/movies/universal/unbroken/unbroken-tlr2_h1080p.mov

Facing death constantly is a reality in war times. This story is a testament to resilience and survival against all odds.

Angelina Jolie directs this adaptation from Laura Hillenbrand’s popular book, “Unbroken” stars Jack O’Connell, Domhnall Gleeson, Alex Russell, Miyavi and Finn Wittrock


Cinderella Man

This Depression era feel-good story takes on new meaning as we see a “Great Depression II” potentially looming. Looking for strength and courage facing forces that threaten our survival, and coming out at the end in a better place, that’s a synopsis and blueprint we can all benefit from observing, even if it’s packaged as a Hollywood vehicle. Russel Crowe at his best. Maybe worth a second look.


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Dow Plunges in Largest 1-Day Point Drop in History – and it’s Still not Because of the Coronavirus

Photo Collage / Lynxotic – Various

Down nearly 4000 points in Five Days in Correction Territory, but Bear is Still Hiding in Plain Sight

At the time of this writing the DJIA futures are down nearly 400 additional points (1.54%) at 25,161. As is often the case at major market turning points there is talk of corrections (commonly measured as a drop of 10% but less than 20%) and, naturally, afterwards, a probable return to all time highs.

There are ridiculous attempts to “blame” the drop on the election, Bernie Sanders, The Corona Virus and even an intentional combination of all of the above to sabotage Trump’s re-election hopes.

The financial press has a similar job to the President, to calm fears. That’s why there are numerous articles that all say the same thing: don’t worry, corrections are healthy, by definition they represent a decline of 10% or more – and are not the start of a Bear Market. Unless they are.

There are articles advising to buy the dip, or to wait a little longer and then buy the dip. There are literally dozens of articles saying that virtually 100% of the downturn is based on “fears” that can be directly attributed to the Coronavirus.

More honest are the articles that use the word “amid” as in “Dow tumbles almost 1,200 points, 124-year record, amid coronavirus scare”. The word amid implying that the two things – the scare and the drop in stocks are in proximity, yet not necessarily a case of causation and causal correlation.

Naturally, being a part of the world economic situation, the virus and fears that it will spread and become a Pandemic have an impact. But 100%? As if all sellers are literally freaking out together about precisely this one thing?

Just as Summer leads to Fall and Fall Leads to Winter, there’s another Explanation the we should All Consider

The minority of the media weighing in, and from anecdotal evidence it is a tiny, tiny faction of the whole, actually mention the most likely and even obvious “cause” for the market showing a very strong propensity for decline at this juncture. The fact that Bull markets always end eventually and are followed by Bear markets.

Further, that the many all time highs that Trump has been touting at every opportunity were, in reality, the last throes of a bull market that was juiced in every possible way, initially to stimulate the economy after the 2008 “Great Recession” and, more recently, at Trump’s prodding, to help with his re-election efforts.

Optimism has been off the charts, and investing and paying insane sums to invest in companies that have zero profits was, until very recently, considered by many a permanent condition that would just keep expanding, along with the beneficiaries.

So, in the midst of all kinds of likely causes and reasons, the most obvious, the most likely, the most logical and the reason that is being emphasized by the extent that it is being ignored and ruled out stands out clearly, like a beacon in the fog.

A long overdue Bear Market has started. Just as with a virus threatening our health, it is best to be prepared if there is a chance ( possibly, a very significant chance) that it is coming.

Say the B Word, have no Fear, as Forewarned is Forearmed

So, rather than being behind the curve as wishful thinking grips us and makes literally any other explanation than the obvious one more attractive, it’s best to at least come to grips with the Bear Market scenario.

If this is the start of a Bear Market phase, here is what will happen next. This initial drop will continue for hours or days longer but not weeks. That will be followed by a rebound, possibly sharp, that will last a few weeks or even longer – climbing and clawing up takes longer than a straight drop.

Then, right around the time that all the articles are saying the worst is probably over, that all time highs are possible even likely, the next down phase will come. It will be at least as strong and deep as the current one and once it is about halfway through it’s decline many will begin to change perspective and become pessimistic for the first time in years.

So, prepare and be safe, both regarding your health, and finances. Hope for the best but prepare for the worst or, at least, the unanimously unexpected.


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Black Swan? Coronavirus? Bernie Sanders? None of these are the reason for the Huge Stock Drop This Week

And, no, this is not a Conspiracy to Stop Trump from Getting Re-elected

This week, so far, the Dow Jones Industrial Average lost over 1900 points in two days. Although the percentages were not record breaking the point totals qualified as the third and fourth highest loses ever. In the S&P the two day loss percentage was the largest since 2015: 6.3%, while the dollar calculation in market value for that same index was $1.7 trillion, as tabulated by S&P Dow Jones Indices.

In addition to the supposed calculations above the an all time record low for the 10-year Treasury yield was also noted. It is possible that in some cosmic way all of these factors played a role, except perhaps Trump’s delusional conspiracy theory.

You can be sure that if the market continues to decline in a prototypical Bear market pattern, the President will twist this theory and any other that comes to mind in an effort to blame anyone and anything. And, in truth, the coming issues trace back to the stimulus “rescue” actions (TARP) taken in 2008 and many actions not taken since. However, that does not absolve the current occupant of the White House of his ill-advised self-congratulations each time the market made new highs.

There is a perverse tendency to ascribe correlation to virtually anything that is negative in the news on a given day to a concurrent stock market decline. The same bad news on a day the markets rise suddenly morphs into strong “shrugging off” of the “headwinds” or are seen as proof of a “resilient” bullish potential.

From the Ridiculous to the Sublime, Creative Explanations for the Consecutive Down Days Abound

How about Senator and Presidential candidate Bernie Sanders causing $1.7 trillion in losses by threatening to become the democratic nominee – which could happen maybe in July? Or it’s just a “Black Swan” out of nowhere a one in a trillion event that is aimed at some specific detail in your life – like Trump projecting that this is all a plot to ruin his re-election hope. All just reasons to pretend that Bull markets are not followed, inevitably, by Bear markets, which, unfortunately they always are.

However, as counterweight to that pattern of assuming a correlation where there is none, are other facts. Such as the fact that the Coronavirus has been known and killing people for months and during that entire time the markets have risen substantially.

And, further, these kinds of superficial causality explanations fail to add context of anything beyond news stories. For example, this has been a nearly 11 year Bull market, the longest in history and more than twice as long as the 4.5 year average.

The measurements that show a likely peak in sentiment and a potential end (bull markets are always followed by bear markets, without exception) to the climb have been flashing red for some time. Of course, since many pundits are invested, literally, in an endless continuation of rising stock prices, there are those that argue that there were several tiny baby bear markets during the last decade, which would negate the longest ever status.

Many indicators and the wise predictors among asset managers are pointing towards at least a drop of 38% likely, which would qualify as a Bear market, but that is also a very conservative estimate.

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Further, if available data and common sense are taken into consideration, it is possible that the markets could regain what has been lost in the last week and once again enter positive territory for the year. It is not likely, however, that any such bounce would be anything beyond a temporary respite before the Bear is back.

And the Cornavirus? We all hope that it will be contained and we can all rest a little easier. But don’t plan on stocks having a lock on the ups and downs of that saga, anymore that they are trading in lock-step with the trade war with China, for example. It is absolutely possible that both of those issues could be resolved and have no positive impact on stock prices whatsoever. Of course, if that happened there would be a new convenient scapegoat waiting in the wings.

All that being said, for anyone holding substantial sums in the markets, or if you happen to be an incumbent President, there is a dose of double trouble in the wind. Both the rapid plunge in stock prices and the rise of a potential global pandemic are negative and scary. One just doesn’t happen to be the cause of the other.


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Tesla Announcements: Elon Musk shares 3rd Quarter Profits, Gigafactory, and Solar Tiles V3

Tesla Shares Make a Surprise Comeback and Soar 21%

Tesla’s third-quarter profit results released on Wednesday, October 23rd surprised investors after a long-time series of doubts about the company’s ability to compete with larger and better capitalized rivals in other parts of the world.

The company announced a $143 million profit third quarter profit in 2019, and that, by the end of September, Tesla had $5.3 billion in cash and cash equivalents along with $371 million in operating cash.

Additionally, after Chief Executive Elon Musk announced his promise of a 2020 rollout with a more affordable SUV and more self-driving technology, Tesla’s shares rose almost 21% to $307.12 within hours of the unexpected news.

This is obviously good news for both Tesla and its investors, but there are going be a few more battles needed to prove consistent profitability and to remain ahead of the market it was the first to establish.

“Given the breakneck speed of expansion, Tesla will face significant demands on its cash pile.”

Nicholas Hyett, Financial Analyst at Hargreaves Lansdown

So far, Tesla has shown significant increases in production efficiency while setting another record for deliveries led by Model 3. This, along with their new, cost-cutting Shanghai Gigafactory 3, holds promise that they’ll be able to meet these profitability demands.

Tesla Giga Factory 3 in Shanghai, China

Shanghai Gigafactory Increases Tesla Production Efficiency

After returning to profitability, Tesla revealed that its Shanghai Gigafatory is now ready to start producing EVs for China, the world’s most populated country. In fact, it’s already assembling full vehicles on a trial basis to work out a few regulatory kinks before official production begins.

Tesla released their Q3 2019 update and said “China is by far the largest market for mid-sized premium sedans. With Model 3 priced on par with gasoline powered mid-sized sedans (even before gas savings and other benefits), we believe China could become the biggest market for Model 3.”

As Tesla breaks significant ground in China, their sustainable influence reaches beyond North America, aiming for a greater presence on the global stage.

Solar Roof Tile V3: Affordable Sustainability = Accessible Sustainability

Elon Musk’s proposed third iteration of his solar roof tile products is now ready for sales.

During his company’s annual shareholder meeting in June, Musk promised that these solar tiles would have a significant improvement in performance and affordability. If you factor-in future utility savings and how much a new roof installation generally costs, the product would be on par with the cost of cheap, non-solar roofing tiles.

This is a significant development towards affordable, sustainable energy measures since Tesla first unveiled the product in 2016 and opened pre-orders in 2017.

However, consumers have been generally slow to purchase the solar tiles because of their reservations regarding timeline expectations for prospective installation.

Tesla App showing “My Home” – Photo / Tesla

Hopefully, once more information about this is made available, the sales will take off, thereby increasing the accessibility for many more homes to go solar.


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Stocks Dive, Trump Goes Berserk: It’s Not Sexy, but the Inverted Yield Curve has Never Been Wrong

Stocks decline a day after Trump gave the markets a jolt of optimism…

Truth is, no one knows why stocks bounce one day and collapse the next. Yesterday, the reduction in trade war tensions, due to the postponement of a tariff increase, was credited with the surge in market prices.

Today, all major indices are down around 3%, while the VIX, known as the “fear index” spiked 20% higher, and there are plenty of factors that may have set the sell-off in motion:

This time, it’s the inversion of the yield curve that is given the blame, primarily, for the Dow Jones Industrial Average being down, at the end of Wednesday’s session, over 800 points. Asleep yet?

Don’t worry, this won’t take long: 

The Mysterious Yield Curve, Deconstructed

When shorter dated bonds, bonds that “mature” sooner, have higher yields (pay a higher percentage in interest) than longer dated ones, that’s an inverted yield curve. Inverted, because, it is not “normal” to be paid more for taking less risk, that is to say, holding a bond for a shorter period of time. Also, it’s not logical. 

Unless, in theory, people are seeing the near term risk as higher than the long term one. Which, honestly, may or may not be accurate, but perception is all and all.

And this is not the first inversion lately. For several months, since March, the 3-month yield rose above the 10-year, then again in July and has remained so. However, today it’s the 2-year vs. the 10-year, and it is considered the “main” pair, and that’s what got the ball rolling down hill. 

Extremes are also a concern. For example, the 30-year Treasury yield dropped to it’s lowest rate ever at 2.05%.

And, to top it all off, the snowball begins to roll when the 2-year vs. 10-year curve inverts, particularly due to the history of what happens after this phenomena occurs. 

The R word. Yes, recession. Not sometimes. Always. At least so far. 

Not necessarily right away. The first inversion prior to the 2008 financial crisis was in December of 2005. However, according to the Fed Bank of Cleveland, a recession can generally be expected approximately one year after the yield curve inverts. 

Trump Goes Berserk. Blames Fed Chairman and the “Crazy” Curve!

Does this guy sound worried?

Germany and China Numbers and That Pesky Trade War that Tariff-man loves so much

Ok, that’s pretty much the bond story. Other factors weighing on stock prices? There’s that pesky trade war with China which, yesterday’s jubilation notwithstanding, is not over. Not by a long shot. 

Then, in came the news that Germany’s GDP contracted for the first time in ten years. What has been called the “Golden Decade” for the mighty Teutonic economy, the world’s 4th largest, is now officially at an end. 

This, again, ties back to the trade wars as Germany is an export driven economy and exports to the US and China, (who, as we know are locked in their battle over trade) primarily and mainly cars. Car sales, particularly in China, are very weak. In China the sales figure have gone down for the last 13 months. 

Also in China, industrial production, it was announced, in July of 2019 was weaker than for the same month in 2018. Still a positive number, mind you, at 4.8%, but the lowest growth percentage in 17 years. 

Other economic numbers for the Chinese economy, also announced today, were weak in many key segments. Retail sales were less than expected and unemployment is on the rise. All in all, a gloomy report for what has been the rising star on the world stage in terms of growth. 

Plenty of Triggers, not many Rainbows

So, if we are looking for reasons why people in the stock markets, generally, might be in the mood to sell, we can point to these factors, not to mention political dangers in Asia with the ongoing Hong Kong protests, and tension. 

Although sometimes people sell just to sell (often politely called “profit taking”) this appears to be something else. 

Also, while it is too early to say that any positive effect will arise in trade talks, with the US and China both feeling weaker and therefore more accommodating, that is, at least one possible silver lining. 

Another is that, for the first time in all recorded history of the bond market, the inversion might not lead to a recession, after all.


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Market Drops on Trade War Escalation: Dow Closes Down 767

photo collage / Lynxotic

Does over 925 points lost by the Dow Jones Industrial Average intraday qualify as a Market Crash? With the NASDAQ down over 4% and Bonds at record low yields, and the Chinese Yuan breaking the psychologically important 7 to 1 barrier against the dollar, it appears the Trade War is getting serious indeed. The Dow closed for the day down 767 points.

After Trump’s now infamous tweet, late last week, that set markets in the US tumbling, now, China’s immediate retaliation plans have been revealed, pushing the markets into a tailspin.

Lowering the currency exchange rate has the effect of countering the tariff by increasing the number of yuan generated by dollar denominated exports. Naturally there are more complex peripheral and ancillary effects that will be debated by economists until the end of time. The People’s Bank, for what it’s worth, claimed that the drop was “driven and determined” by market forces.<p>The yuan is now at its lowest point relative to the dollar since 2008.

The NASDAQ and tech stocks are now down for the sixth straight day. A man who at his inauguration spoke of “the end of American carnage”, and who touts his ability to conjure up stock market gains is now facing a serious problem, in addition to his legal and political woes.


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Trump Topples Rally with Tariffs: Dow Drops Nearly 600 Intraday

10% on $300 Billion will Commence September 1st…

The DJIA was up more than 300 points when the announcement was made, then it ultimately ended the session down 280. The new tariffs are on the 300 billion in goods that have been, until this point, coming into the country without a toll. There are also 250 billion in Chinese goods that already have a 25% levy attached.

Recent trade negotiations in Shanghai concluded on Wednesday with little or no progress. Talks are scheduled to resume in September.

Speaking on July 30th, before reporters Trump speculated that China may be thinking of delaying a resolution until after the election in 2020, saying:

“They would just love if I got defeated so they could deal with somebody like Elizabeth Warren or Sleepy Joe Biden…. They’ll pray that Trump loses. And then they’ll make a deal with a stiff, somebody that doesn’t know what they’re doing like Obama and Biden, like all the presidents before.”

Donald J. Trump

Calling the tariff a “small additional levy” Trump also said in a series of tweets that China’s promise to buy large amounts of agricultural products from the US, was not kept.

While speaking to reporters this afternoon at the White House, he also threatened to lift the percentage to 25% and beyond, “But we are not looking to do that, necessarily”.

Products that will be included in this new batch of tariffed goods will be consumer electronics such as iPhones, toys and shoes, among other items.

There was some surprise noted, as the meetings and discussions in Shanghai appeared to end on a somewhat positive note, initially. Now, with this announcement, there is a sense of the talks having fallen short of any progress at all.

Fallout of the Trade War to Begin Hitting Home

Trump continues to claim that China will pay these levies, although studies have shown that the consumer in the US will ultimately pay through higher costs on all tariffed goods. The higher prices will also harm sellers in the US due to a reduced volume of sales.

While there is sill also a lot of “carrot” talk, how the negotiations can also take a turn for the better at any time, coming from both sides, it does not appear that there is much substance to be gleaned from these pronouncements.

Since the percentage of some of the products that will be affected, such as toys, include as high as 85% currently coming from China, these tariffs can have a substantial effect on the marketplace.

Also, possibly unintended beneficiaries to the trade war are neighboring countries such as Vietnam and Cambodia, that are already showing signs of increased activity due to the shifting of origin of manufacturing to those countries in order to avoid the levies.

Tariff-man is staying true to his self-given moniker and in September, as the next wave hits, it is yet to be seen what the economic effects will be, either in China or here in the US.


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Dow Futures Drop over 500 points after Trump Threatens on China Trade

“Tariff-Man” talks tuff when traders expect cream puffs

Photo / Adobe Stock – Lynxotic

Nasdaq futures down over 2%

Futures began to tumble when Trump announced he would raise tariffs on $200 Billion in Chinese goods and soon add a levy on $325 billion more. In the largest drop in Futures since January, traders appear to be reacting to the expectation of a positive resolution to the trade tensions, only to be surprised by the escalation by Trump.

Read More: The Dow Drops more than 6% as “Trump Bump” Vanishes into Thin Air

Brinksmanship? Or will both sides make good on threats?

As reported by the Wall Street Journal, China may be pulling out of the talks, which only raises the stakes. It’s entirely possible that both sides are talking tough in an attempt to gain an advantage and claim victory, if and when the talks resume. A sudden positive, “unexpected” reversal on both sides would likely spur a knee jerk market rally, for example, so volatility in the markets appears to be likely for the week ahead.

Needless to say, a trade war escalation would be a serious event for both sides. Although China may feel the negative effects of such an all out Tariff avalanche first, the potential downside for the U.S.A. is not clear and would be by no means insignificant.

Photo / South China Morning Post

With both sides broadcasting extreme positions, on the other hand, the talks may well halt, which would “require” Trump to make good on his threats (in order to save face). Stay Tuned.

Read More: Five New Books about how We can Change the Direction of the USA in November and Beyond


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Stock Market Outlook 2019

Consensus Views Or Contrary Swans

Funny thing about consensus vs. contrary views – they are often identical if you believe what you read. “Wall of worry” and “Slope of Hope”: it’s all irrelevant if you are wearing blinders and have no mooring, or any basis for what the facts are.

Add to all that the fact that most opinions are paid advertisements, mainly for sell-side firms, and it’s tough to wade through the B.S. As per usual, according to a survey from CNBC, the S&P 500 will reach 3000 by the end of 2019.

According to my own non-scientific survey this is the 20th consecutive year that such surveys predict a gain in the market. A prediction for the coming or current year is almost always positive. The negative predictions are saved for “next year” (in other words later in 2020 as seen from in early 2019). Then, of course, the predictions change, and turn positive, just before the year turns.

Such nonsense goes even deeper while pundits and hacks will cite “pervasive pessimism” in the face of almost total bullishness to claim to have a “contrary” view while in reality herding like Spanish bulls in springtime.

“It’s tough to make predictions, especially about the future”

Yogi Berra

Using actual data such as the Put-Call Ratio, VIX, AAII Sentiment Survey, or, for example, levels of margin debt and mutual fund money flows, can at least give a picture of the state against which one intends to be contrary.


Then, once in a while, in full-on Black Swan fashion, the prevailing “wisdom” blows up and everyone declares shock that such a thing could happen. A recent example of this was the disastrous collapse of the “short vol” trade in February of 2018.

A one-eyed man in the land of the blind can see a bit more than the rest. A first step is to be aware of the hype and see past the herd. In the last 100 years, Bull markets have tended to last longer than Bear markets (which move faster) and that alone leads to a bias toward a false idea that investing in stocks can lead to a steady, constant gain profile.

To sum up our outlook for 2019 in terms of end of year projections, the word “grim” comes to mind. Bear Markets follow Bull Markets, Raising Rates pop bubbles, the 2008 excess was never dealt with, and on and on and on. Clearly, the most bullish possible prediction anyone looking at facts could possibly make is that the next down phase in the market might come a bit later (2020 anyone?) rather than sooner.

Naturally, that is exactly what the “pessimistic” pundits are predicting. Far from pessimistic in reality, this is the most wildly optimistic, bullish possible take on the current juncture imaginable. Perfect for the true contrarian outlook which points toward a real Bear Market, sooner rather than later.

This is not to say that it looks like all gloom and doom for the coming year(s). There are exciting changes afoot, particularly in media and digital communication, and, as with all times of great change, the aftermath of the coming storm points toward a cleansing and realignment of world economies and cultures. Bring it on…….


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