Spot on, Chris! I can remember going work to work at a very large commercial bank in the late 80’s, being surrounded by MBA’s, and feeling somewhat intimidated that I only had a small private school BA degree with a focus on Austrian economics. I quickly came to the realization that most of them were dumb as rocks. Yellen reminds me of most of them - you hear her speak and wonder if she’s capable of drinking a glass of water without pouring it down her chin.
And the depth of academic penetration into Wall Street also means that banks and asset managers are all still equipped with their woefully inadequate Value-at-Risk and other academic models / methodologies to navigate the Caribbean cruise ship through the perfect risk storm ⛈️ - when the models are broken, why fix them?
That depends on whose money the models are being used to invest. Some of the models written by people investing their own money are actually effective.
Glad to see this article tying things together. IMO:
1) It's not just the Ivies at this point. It's all of the higher ed system, right down to the community colleges. They're all consumed by the leftist, pro-government rot and its accompanying diversity scam. What isn't straight plagiarism or fraud is politically filtered. "Peer review" is part of this filtering process.
2) Taking down Gay will be like a bomb dropped into the ocean. I think it's going to blow up the entire concept of "experts" and everything that comes with it. Exposing Harvard in this way is going to lead to others finding fraud/plagiarism across the academic landscape. This will take out entire "fields" of study (which are just leftist politics disguised as academia). The covid scam, the DEI assault on school kids and employees, the climate scam, the wars-for-profit, and the ever-decreasing buying power of the average citizen wouldn't have happened without this leftist rot in higher ed. It's all tied together and it's going to come tumbling down together.
3) There will be pop culture impacts as well. What has been put in front of us passed through the same sort of political litmus test that "academic" papers go through. (Note how bent the powers-that-be became when the narrative started to shift due to genuine, grassroots user-created content on social media platforms.) We've been living a sea of propaganda for 30+ years.
4) All of this was funded by tax dollars and inflationary money printing (also taxation).
What a scam it's been. You have to give them credit. Going to be an interesting period in history to watch it unravel.
Super article. The entire picture presentred shows without a doubt that emotion based socialist thinking is usually wrong. They can not face logical thought, it is what they want to escape in each situation. I saw this in high school civics class 1963, no less. The teacher and I battled almost every day.. But regardless he would not answer my pointed questions. H" just changed the subject. I got a "C"for my efforts.
So many ways colleges are embedding the wrong message. So the lack of concern over the financial cluster fuck is because of the educated (indoctrinated) and the uneducated (uninformed), and the privledged oligarchs with campaign donations. Wonderful
As he knows full well, education is important, and that is achieved in many, many ways.
Just getting in line to buy a big ticket course at the 'right' community school because it opens many, many doors afterwards is not enough. It never was.
For all the negative stuff around short sellers, there is one factor - most, if not all, think critically. However, this is not true for the corporates punting bad ideas - they are cynical, or corrupt, or stupid. Possibly all three at the very same time.
Remarkably many of these bad actors have lined-up in earlier life to get the 'right course' at the 'right community college'.
"is a graduate of Yale and Brown, and has worked at Harvard."
The ultimate trifecta in an echo chamber of puffed up, self pat your self on the back (their you go brother, or sister in this case), self appointed "educated erudite elite" unless you count the shear incompetence and hubris in which case its earned 1000%. Just remember, the smarter one thinks they are (usually based on how much nonsense they can cram into their noggin), the dumber and more disastrous the out come will be. I know because I have been there, and also seen it to often in the personal lives of others.
Its almost as if these people made a pact with the devil, and forgot who they where making a pact with. He always pulls out the rug at some point, simply because that is who he is, a destroyer.
Nailed it again as usual. I've been thinking along these same lines for years but this states the entire grim picture more succinctly than I ever could. The universities put more poison into the national bloodstream than anything else.
I agree with your assessment in the article. It’s difficult to watch all the players across the political spectrum just keep going on and on. We have Republicans that spout restraint without any substance and then when it’s convenient for them they spend even more than the Democrats. The sums are mind boggling and the horse trading to just keep the lights on is just as mind boggling. No one is actually in charge of anything because they are so busy checking the wind direction that they are incapable of decision making that is rooted in reality.
Thank you! key to solving this is finding a way to enlighten the production generators that central bank monetary theory is in fact "All Bulshit" and must be removed along with its champions.
2+2=4 it can not be changed. Any other answer is delusional!!
Not long ago, I experienced a significant loss of confidence and faith in academia. It was hard to buy into the idea, pushed by governments and political bodies, that we should just stop thinking for ourselves and listen to 'experts' in everything from health to the economy.
By the way, I really liked the title of the post and the graph showing the skyrocketing US interest expenses, which most Americans seem to be either comfortable with or absolutely unaware of.
Spot on, Chris! I can remember going work to work at a very large commercial bank in the late 80’s, being surrounded by MBA’s, and feeling somewhat intimidated that I only had a small private school BA degree with a focus on Austrian economics. I quickly came to the realization that most of them were dumb as rocks. Yellen reminds me of most of them - you hear her speak and wonder if she’s capable of drinking a glass of water without pouring it down her chin.
And the depth of academic penetration into Wall Street also means that banks and asset managers are all still equipped with their woefully inadequate Value-at-Risk and other academic models / methodologies to navigate the Caribbean cruise ship through the perfect risk storm ⛈️ - when the models are broken, why fix them?
The financial models work as well as the public healthcare COVID spread models.
That depends on whose money the models are being used to invest. Some of the models written by people investing their own money are actually effective.
Glad to see this article tying things together. IMO:
1) It's not just the Ivies at this point. It's all of the higher ed system, right down to the community colleges. They're all consumed by the leftist, pro-government rot and its accompanying diversity scam. What isn't straight plagiarism or fraud is politically filtered. "Peer review" is part of this filtering process.
2) Taking down Gay will be like a bomb dropped into the ocean. I think it's going to blow up the entire concept of "experts" and everything that comes with it. Exposing Harvard in this way is going to lead to others finding fraud/plagiarism across the academic landscape. This will take out entire "fields" of study (which are just leftist politics disguised as academia). The covid scam, the DEI assault on school kids and employees, the climate scam, the wars-for-profit, and the ever-decreasing buying power of the average citizen wouldn't have happened without this leftist rot in higher ed. It's all tied together and it's going to come tumbling down together.
3) There will be pop culture impacts as well. What has been put in front of us passed through the same sort of political litmus test that "academic" papers go through. (Note how bent the powers-that-be became when the narrative started to shift due to genuine, grassroots user-created content on social media platforms.) We've been living a sea of propaganda for 30+ years.
4) All of this was funded by tax dollars and inflationary money printing (also taxation).
What a scam it's been. You have to give them credit. Going to be an interesting period in history to watch it unravel.
The "Fed soft landing" is the new "safe and effective."
Super article. The entire picture presentred shows without a doubt that emotion based socialist thinking is usually wrong. They can not face logical thought, it is what they want to escape in each situation. I saw this in high school civics class 1963, no less. The teacher and I battled almost every day.. But regardless he would not answer my pointed questions. H" just changed the subject. I got a "C"for my efforts.
Roger
So many ways colleges are embedding the wrong message. So the lack of concern over the financial cluster fuck is because of the educated (indoctrinated) and the uneducated (uninformed), and the privledged oligarchs with campaign donations. Wonderful
Excellent article from Lord Chris of Irons.
As he knows full well, education is important, and that is achieved in many, many ways.
Just getting in line to buy a big ticket course at the 'right' community school because it opens many, many doors afterwards is not enough. It never was.
For all the negative stuff around short sellers, there is one factor - most, if not all, think critically. However, this is not true for the corporates punting bad ideas - they are cynical, or corrupt, or stupid. Possibly all three at the very same time.
Remarkably many of these bad actors have lined-up in earlier life to get the 'right course' at the 'right community college'.
Fever breaking.
"is a graduate of Yale and Brown, and has worked at Harvard."
The ultimate trifecta in an echo chamber of puffed up, self pat your self on the back (their you go brother, or sister in this case), self appointed "educated erudite elite" unless you count the shear incompetence and hubris in which case its earned 1000%. Just remember, the smarter one thinks they are (usually based on how much nonsense they can cram into their noggin), the dumber and more disastrous the out come will be. I know because I have been there, and also seen it to often in the personal lives of others.
Its almost as if these people made a pact with the devil, and forgot who they where making a pact with. He always pulls out the rug at some point, simply because that is who he is, a destroyer.
Nailed it again as usual. I've been thinking along these same lines for years but this states the entire grim picture more succinctly than I ever could. The universities put more poison into the national bloodstream than anything else.
I agree with your assessment in the article. It’s difficult to watch all the players across the political spectrum just keep going on and on. We have Republicans that spout restraint without any substance and then when it’s convenient for them they spend even more than the Democrats. The sums are mind boggling and the horse trading to just keep the lights on is just as mind boggling. No one is actually in charge of anything because they are so busy checking the wind direction that they are incapable of decision making that is rooted in reality.
And they get paid $900,000 a year to be that incapable.
Thank you! key to solving this is finding a way to enlighten the production generators that central bank monetary theory is in fact "All Bulshit" and must be removed along with its champions.
2+2=4 it can not be changed. Any other answer is delusional!!
Not long ago, I experienced a significant loss of confidence and faith in academia. It was hard to buy into the idea, pushed by governments and political bodies, that we should just stop thinking for ourselves and listen to 'experts' in everything from health to the economy.
By the way, I really liked the title of the post and the graph showing the skyrocketing US interest expenses, which most Americans seem to be either comfortable with or absolutely unaware of.
We are living in a sycophancracy. Once I realized this, it all fell into place.
Thanks for helping me keep my sanity.
Chris, excellent piece.