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Olduvai III: Catacylsm
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Manipulation = Fragility

Manipulation = Fragility In markets distorted by permanent manipulation the most powerful incentive is to borrow as much money as you can and leverage it as much as you can to maximize your gains in risk-on asset bubbles. A core dynamic is laying waste to global financial markets: the greater the level of central bank/government manipulation, […]

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Counterintuitive: (Some) volatility is good for you, stability not so much

Counterintuitive: (Some) volatility is good for you, stability not so much With stock markets around the world plunging and commodity prices in free fall, it seems appropriate to return to a theme which I’ve taken up previously: That a certain amount of volatility is good for humans and the systems they build, and that attempts to […]

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Terms of debate: Destroying vs altering nature, the fragile vs the resilient Earth

Terms of debate: Destroying vs altering nature, the fragile vs the resilient Earth Last week’s piece drew responses that throw into relief how much the language we use depends on our most basic assumptions about how the world works. If left unexamined, that language leads to further conclusions that go unchallenged because the underlying assumptions are never scrutinized. […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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