Don’t worry about how sky-high stock market prices are today. Or Bitcoin – its price is now $59,000 (having appreciated 500% over the past 12 months). Or the price of GameStop (from $4 to $483 in 6 months) or of sports trading cards ($1.3 million...
Today’s TLR is about the Soaring Dragon, its wings shading the global landscape … and the Resting Eagle, seated in its nest with its wings tucked neatly at its sides. The Dragon is China …, the 21st Century’s rising Great Power (its flight strategy described in...
Social media is the most wonderful delusion invention of the 21st Century. From a friend: “I was shopping at the mall just before Christmas and walked past this videogame store called GameStop. It was selling games that you can easily download from a home computer. My...
America’s economy is running on a belief in perpetual motion …, the reason being that the U.S. government is printing piles oodles of Dollars with the expressed intention of continuing to do so indefinitely … using those Dollars to fund America’s lavish military and entitlement...
TLR’s most important narratives center on bridging America’s divisions …, and 2020 provided plenty of grist for that mill. Progress in any culture and any political system requires a constant re-examination of goals and realities. In America today, progress depends on a critical evaluation of the...
The obverse of “Rational Exuberance” is “Irrational Exuberance,” a phrase popularized in December 1996 by then-Federal Reserve Chairman Alan Greenspan when he warned investors that unjustified internet optimism had crept into stock market valuations. As a consequence, he warned, soaring valuation assumptions based on rosy...
