American Supremacy Is The Greatest Threat To

The Financial Markets Play An Active Role In Determining What's Going To Happen, How The Economy Is Going To Function.

If We Care About Universal Principles Such As Freedom, Democracy And The Rule Of Law, We Cannot Leave Them To The Care Of Market Forces; We Must Establish Some Other Institutions To Safeguard Them.

In Certain Circumstances, Financial Markets Can Affect The So-called Fundamentals Which They Are Supposed To Reflect. When That Happens, Markets Enter Into A State Of Dynamic Disequilibrium And Behave Quite Differently From What Would Be Considered Normal By The Theory Of Efficient Markets. Such Boom/bust Sequences Do Not Arise Very Often, But When They Do, They Can Be Very Disruptive, Exactly Because They Affect The Fundamentals Of The Economy.

The Trouble With Institutional Investors Is That Their Performance Is Usually Measured Relative To Their Peer Group And Not By An Absolute Yardstick. This Makes Them Trend Followers By Definition.

If We Carry This Line Of Argument To Its Logical Conclusion, The Meaning Of Life Consists Of The Flaws In One's Conceptions And What One Does About Them. Life Can Be Seen As A Fertile Fallacy.