People don’t realize how devastating the effects of an entire generation without work ethic but dedicated to social media praise is to our society. Sure, it’s embarrassing and public when it happens in journalism, but it’s deadly when it happens in medicine, it’s devastating when it becomes the norm in education, and soon, we’ll all fee…
People don’t realize how devastating the effects of an entire generation without work ethic but dedicated to social media praise is to our society. Sure, it’s embarrassing and public when it happens in journalism, but it’s deadly when it happens in medicine, it’s devastating when it becomes the norm in education, and soon, we’ll all feel how truly painful it is when it happens in stock and bond markets.
When it’s more rewarding to follow the crowd than it is to do good work - all across there board and all across industries - society pays the price
The debate over ESG investing is only the latest example of “social justice” warriors violating established legal norms, I.e. fiduciary responsibility.
Alex Berenson just did a stack on university covid vaccine mandates and how confusing they are in the face of medical evidence. But what’s confusing is why he thinks medical evidence matters. Vaccine mandates exist at universities because universities depend on NIH grants to do research and the NIH requires vaccine mandates (because they collect royalties on vaccine sales) to be eligible for grants.
ESG is exactly the same thing. The US is a banana republic - and our banana is debt. Debt is the only thing we produce and the only positive trade balance we have. So, when a bank needs free money (and they ALL need free money), they will follow whatever guidance the FED has produced in order to secure that loan. If those guidelines include nonsense like ESG that’s a small price to pay for what has been unlimited access to free money for almost 15 straight years.
You get bored later go checkout how much money Uber has burned through without even a pathway to profitability and then go check it’s investors. You’ll see why these investment firms and banks are SOOOO committed to ESG. It’s because borrowing money - rather than running successful businesses - is the ONLY thing they know how to do…
The US economy is the largest GDP in the world though. That’s real money even if some like Uber are losing billions they’re wasting mostly saudi sovereign wealth funds money. Uber is a Ponzi scheme and always has been. That’s the beauty of markets like the USA though you can pick and choose.
Modern GDP is a joke. It includes government spending and our government literally prints money whenever and however it wants and then “spends” it and calls it GDP. We have the largest trade deficit in human history. That tells you all you need to know. Other countries create value, we create debt. That bubble ALWAYS bursts
And has been a world-changing in the political arena. Turns out the source of the Steele dossier, bought and paid for by HRC, was on the FBIs payroll. Just think of the FBI raids, FISA warrants and a Presidential candidate defamed. Repeatedly.
People don’t realize how devastating the effects of an entire generation without work ethic but dedicated to social media praise is to our society. Sure, it’s embarrassing and public when it happens in journalism, but it’s deadly when it happens in medicine, it’s devastating when it becomes the norm in education, and soon, we’ll all feel how truly painful it is when it happens in stock and bond markets.
When it’s more rewarding to follow the crowd than it is to do good work - all across there board and all across industries - society pays the price
The debate over ESG investing is only the latest example of “social justice” warriors violating established legal norms, I.e. fiduciary responsibility.
Alex Berenson just did a stack on university covid vaccine mandates and how confusing they are in the face of medical evidence. But what’s confusing is why he thinks medical evidence matters. Vaccine mandates exist at universities because universities depend on NIH grants to do research and the NIH requires vaccine mandates (because they collect royalties on vaccine sales) to be eligible for grants.
ESG is exactly the same thing. The US is a banana republic - and our banana is debt. Debt is the only thing we produce and the only positive trade balance we have. So, when a bank needs free money (and they ALL need free money), they will follow whatever guidance the FED has produced in order to secure that loan. If those guidelines include nonsense like ESG that’s a small price to pay for what has been unlimited access to free money for almost 15 straight years.
You get bored later go checkout how much money Uber has burned through without even a pathway to profitability and then go check it’s investors. You’ll see why these investment firms and banks are SOOOO committed to ESG. It’s because borrowing money - rather than running successful businesses - is the ONLY thing they know how to do…
Holy cow, this is a severely underrated comment. Hammer meet nail.
The US economy is the largest GDP in the world though. That’s real money even if some like Uber are losing billions they’re wasting mostly saudi sovereign wealth funds money. Uber is a Ponzi scheme and always has been. That’s the beauty of markets like the USA though you can pick and choose.
Modern GDP is a joke. It includes government spending and our government literally prints money whenever and however it wants and then “spends” it and calls it GDP. We have the largest trade deficit in human history. That tells you all you need to know. Other countries create value, we create debt. That bubble ALWAYS bursts
Yeah, *all-a* it too true. And, yeah, Uber is a classic case.
I’d love to see a story here about this Uber angle. Very interesting.
And has been a world-changing in the political arena. Turns out the source of the Steele dossier, bought and paid for by HRC, was on the FBIs payroll. Just think of the FBI raids, FISA warrants and a Presidential candidate defamed. Repeatedly.
While they accuse the other side of fascism, authoritarianism, misinformation and conspiracy theories.
At this point, anyone who doesn't see it is choosing blindness.
100%