Just read a Substack post from the UK that said that it appears that some big financial event is brewing and that the inside track has it that it is Credit Suisse - that Credit Suisse(now referred to as Debit Suisse) could be the next Lehman Brothers, with Deutsche Bank right in there with them. This is related to the strength of the dollar, the overall debt crisis and the burgeoning energy crisis in Europe and it is Financial Contagion - a possible trigger event just like Lehman Brothers was. This is what you guys write about and specialise in, so if this isn’t already on your radar screen thought you might add it as a watch item. We may not get any warning, but a little may be better than none.
So much information, and so little brain. Thank you Joel, for always brightening up my days with your wit and knowledge and sharing the knowledge of your peers! 🍻
Joel always love your style and anecdotal accoutrements .. must be that southern hemisphere folks are wired differently ..? ie they think about what they are going to say before they say it ..
After listening to these excellent interviews with a review of history 'Hayek' thrown in, I came to the conclusion that the single variable ingredient in economics, philosophy and behavioral sociology are the Human Species .. the ones walking talking doing etc today are just wired differently than the ones Hayek describes .. yes the "fatal conceit" is still relevant but many of the assumptions he made about what drives (emotions feelings etc) are no longer valid in the present century. After almost 80 years on this planet the one thing I can clearly recognise is that there are very few similarities between humans of 2022 and those of 1922 .. so much has and continues to change in our human species. Although physically we are still similar in our daily functions, our mental state of mind/thought, personalities and individual or collective (tribal) aspirations have totally changed.
I suspect that humans will, like all species, 'have a regression to the mean' as in all other systems. The questions is will humans be able to change and adapt quickly enough to survive .. and enjoy another glass of high country Malbec ..? I sure hope so for all our sake's!
Yes my brother, Putin is right when he said America is doomed from within, evil satanism and wokism in our corporate world with communist and liberals to warp our youth. It’s all madness when a man like Putin is more aware about our doomed culture then we…..
Enjoyed this Sunday sesh, having just read/viewed it after a day in the pool with the granddaughter not thinking about anything financial! Keep it up, much appreciated.
As you asked for suggestions about recognized free thinkers - my suggestion is to talk to
Hernan Buchi B, former Minister of Economics in Chile, and recognized as the "architect for the Chilean economic recovery in the 80´s" . I am a Chilean , mining entrepreneur . Thank you Joel,
I think a good guest if you could get him would be Peter Zeihan. I am enjoying his new book, "the end of the world is just the beginning" and think he has some good insights.
Greatly enjoyed your quotes (and summaries) from Hayek's essay "The Fatal Conceit"!
>>“The creation of wealth is not simply a physical process and cannot be explained by a chain of cause and effect,” he wrote. “It is determined not by objective physical facts known to any one mind but by the separate, differing, information of millions, which is precipitated in prices that serve to guide further decisions.”
>>Hayek argued for private property as a fundamental basis for modern civilization and free market capitalism as the appropriate, logical and moral form of its natural, “extended order.”
>>Economies grow organically, Hayek observed, based on the voluntary actions of individuals within them following their own self interest.>>
It is just too bad that neither Hayek nor Mises seemed to realize that the same approach could be used to understand and create "extended order" for all voluntary actions of individuals making decisions about their own self interest, even when such decisions do not involve monetary value, but all the other values (or lack of value) that constantly occur within all human interrelationships, which decisions I call "social preferencing". It is the totality of economic preferencing (what Hayek is describing) and social preferencing that can fully adjudicate and order all human actions without any form of top-down centralized authority.
I understand completely. I have a brother in siesta key Florida who never worries about anything financially. Once in a great while I will be a little jealous of his complete lack of understanding of what is happening in this country. And when the crap does hit the fan I would rather be me!
Just read a Substack post from the UK that said that it appears that some big financial event is brewing and that the inside track has it that it is Credit Suisse - that Credit Suisse(now referred to as Debit Suisse) could be the next Lehman Brothers, with Deutsche Bank right in there with them. This is related to the strength of the dollar, the overall debt crisis and the burgeoning energy crisis in Europe and it is Financial Contagion - a possible trigger event just like Lehman Brothers was. This is what you guys write about and specialise in, so if this isn’t already on your radar screen thought you might add it as a watch item. We may not get any warning, but a little may be better than none.
Love Doug Casey and the other 2 are fine as well.
Casey is so intelligent and of course is known as one of the best crisis investors ever.
He is also a great writer and his book series is excellent!!!
So much information, and so little brain. Thank you Joel, for always brightening up my days with your wit and knowledge and sharing the knowledge of your peers! 🍻
Joel always love your style and anecdotal accoutrements .. must be that southern hemisphere folks are wired differently ..? ie they think about what they are going to say before they say it ..
After listening to these excellent interviews with a review of history 'Hayek' thrown in, I came to the conclusion that the single variable ingredient in economics, philosophy and behavioral sociology are the Human Species .. the ones walking talking doing etc today are just wired differently than the ones Hayek describes .. yes the "fatal conceit" is still relevant but many of the assumptions he made about what drives (emotions feelings etc) are no longer valid in the present century. After almost 80 years on this planet the one thing I can clearly recognise is that there are very few similarities between humans of 2022 and those of 1922 .. so much has and continues to change in our human species. Although physically we are still similar in our daily functions, our mental state of mind/thought, personalities and individual or collective (tribal) aspirations have totally changed.
I suspect that humans will, like all species, 'have a regression to the mean' as in all other systems. The questions is will humans be able to change and adapt quickly enough to survive .. and enjoy another glass of high country Malbec ..? I sure hope so for all our sake's!
Brilliant!
Yes my brother, Putin is right when he said America is doomed from within, evil satanism and wokism in our corporate world with communist and liberals to warp our youth. It’s all madness when a man like Putin is more aware about our doomed culture then we…..
Sorry, half bottle of Angels Envy. That’s all it takes to have my devil come out, a little angel….
As I have stated, better to be silent and thought the fool, then to speak and remove all doubt! My bad!
Enjoyed this Sunday sesh, having just read/viewed it after a day in the pool with the granddaughter not thinking about anything financial! Keep it up, much appreciated.
Can’t wait for next regular Sunday Sesh.
As you asked for suggestions about recognized free thinkers - my suggestion is to talk to
Hernan Buchi B, former Minister of Economics in Chile, and recognized as the "architect for the Chilean economic recovery in the 80´s" . I am a Chilean , mining entrepreneur . Thank you Joel,
Julia A.
I think a good guest if you could get him would be Peter Zeihan. I am enjoying his new book, "the end of the world is just the beginning" and think he has some good insights.
Greatly enjoyed your quotes (and summaries) from Hayek's essay "The Fatal Conceit"!
>>“The creation of wealth is not simply a physical process and cannot be explained by a chain of cause and effect,” he wrote. “It is determined not by objective physical facts known to any one mind but by the separate, differing, information of millions, which is precipitated in prices that serve to guide further decisions.”
>>Hayek argued for private property as a fundamental basis for modern civilization and free market capitalism as the appropriate, logical and moral form of its natural, “extended order.”
>>Economies grow organically, Hayek observed, based on the voluntary actions of individuals within them following their own self interest.>>
It is just too bad that neither Hayek nor Mises seemed to realize that the same approach could be used to understand and create "extended order" for all voluntary actions of individuals making decisions about their own self interest, even when such decisions do not involve monetary value, but all the other values (or lack of value) that constantly occur within all human interrelationships, which decisions I call "social preferencing". It is the totality of economic preferencing (what Hayek is describing) and social preferencing that can fully adjudicate and order all human actions without any form of top-down centralized authority.
Satoshi Nakomoto on the Fatal Conceits podcast would be fair dinkum
Piece of cake
I understand completely. I have a brother in siesta key Florida who never worries about anything financially. Once in a great while I will be a little jealous of his complete lack of understanding of what is happening in this country. And when the crap does hit the fan I would rather be me!
Great interviews by all guests.
Reminding me, the more I know, the less I know.
Thanks !
Saifedean Ammous would be a great guest