Tag: bloomberg

This tweet and this blog: “In a post truth world pay attention to the men proximate to the money printers”

The tweet, copying a few bits: https://x.com/goodalexander/status/1825296389317775501

Thus Bloomberg’s monopoly is not a tech monopoly. Its software is mediocre. It is an access monopoly, which is a direct side effect of the great ongoing state-corporate merger that’s hyper-accelerated since the late 1980s.Politics is – of course, at the center of a political economy. And it pays to be on the side of the aisle that gives you the best access (which is the left wing).

This similarly explains why George Soros became a left-wing meme lord post 1993. His capital base simply got too big and the only way to move size was in government markets. Cryptocurrency is inherently a right wing asset class because it’s constantly noting the elephant in the room (that there’s too much debt, and it won’t ever be paid back). As such, it cripples itself in terms of institutional adoption so it’s a bit of a miracle that there are even ETFs.

Everyone has convinced themselves there’s a ton of election risk regarding cryptocurrency. But — because Bloomberg, Soros, Blackrock and the left wing consortium are on the forefront of ‘institutional adoption’ – I simply don’t think that’s the case. Not for BTC, and not for ETH.

In a post truth world pay attention to the men proximate to the money printers. Assume they are acting on marching orders that are somewhat consistent. Buy crypto because you’re allowed to. Keep your Bloomberg terminal so you can buy more intraday when they invent a crisis to start easing.

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…and his blog is great too! https://goodalexander.com/

An indirect yet very clear explanation of MMT

Emerging markets have reasons to be wary of MMT. They don’t strictly meet its preconditions. While every country does print a legal tender and collects taxes in its own currency, not all can borrow in them. Nor can they allow their exchange rates to float freely, especially if they import vital commodities like food or energy. The degree of economic freedom enjoyed by the governments of the U.S., Japan, or the U.K. is simply not available in most places.
Highly recommended Bloomberg article on the role of MMT in our modern global economy, and why many smaller / less developed countries are wary of copying the same (bad) strategies of the US and Japan.

$30B Hong Kong tycoon Li Ka-shing shares gems in this Bloomberg interview

was a refugee from China to HK during the Japan invasion

“cashflow is the most important thing”

“whatever industry I get into I buy books about that industry”

believes in a Western management model mixed with a Confucian life philosophy

wears a simple Citizen solar-powered watch and runs his watch 30 minutes fast because he can be anywhere in HK in 30 minutes (!)

named one of his two holding companies Cheung Kong after the Yantze river because many other rivers flow into it, metaphor for how he should be (welcoming and truly modest, not just superficially so)

“I’ve always believed that it is very important for people to have faith”

his life philosophy in two sentences:
1. Always be industrious
2. The virtuous welcome onerous duties

framed a share of AIG stock, explains that AIG was worth almost $200B and seemingly overnight dropped to $17B, losing 91% of its value. serves as a reminder to his two sons: manage the company carefully, “don’t invest like gambling”