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Theme: The Crime Wave Is Not Over

Interview: Local Investing with Michael H. Shuman

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102 Comments

  2. Hi, Catherine. I wanted to point out that the comment you made about there being an over-supply of oil tankers (if I heard you correctly) is not accurate. There was an oversupply several years ago, but that is no longer the case. Oil tanker companies have not been devoting any CapEx for years into the building new ships. Older ships are starting to now be retired, and many ships that went into storage will not be coming back online because the cost is prohibitive. There is lack of supply of tankers in spite of growing demand; thus, we’re seeing high rates that should go much higher.

  3. I would like to know if there is a link between Sullivan and Cromwell’s role as lead law firm over seeing the FTX bankruptcy and the run on Silicon Valley Bank.

        1. Does not look to me like a bank run so much as a document grab and destruction – firewalls against the inevitable lawsuits. With the Jan 6th cover story unwinding on the fiscal side of the hous https://theconservativetreehouse.com/blog/2023/03/12/the-parliamentary-motive-behind-the-j6-fedsurrection/ looks to me like the monetary side of the house needs to shut down the documents and train on the Ukraine-FTX money laundering trail. If JPM is causing a bank run on SVB, is it because they can not afford for the story on their US government bank depository involvement on the Ukraine and its relationship to funding the election steal to come out? Note Powell had to cancel his meetings in Switzerland.
          Note MS and GS both said contagion was unlikely – this would fit with it being a launder clean up operation like the FTX takedown. Will be interesting to get the real story on how the uninsured depositors got the Treasury and Fed to cover them – deal to keep them shut up? The dirt on this one goes all the way to the moon. I am wondering if the grabbed Signature to help fund their clean up – like Bear Stearns back in the day.

  4. I live in the UK and my energy bills have gone up by about 75% almost double it was in dec. Catherine is right about the UK being the worst hit!

  5. Imagine a World Without Smartphones reminded me of this passage from Carl Sagan’s 1995 book, the Demon-Haunted World: Science as a Candle in the Dark:

    I have a foreboding of an America in my children’s or grandchildren’s time – when the United States is a service and information economy; when nearly all the key manufacturing industries have slipped away to other countries; when awesome technological powers are in the hands of a very few, and no one representing the the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties in decline, unable to distinguish between what feels good and what’s true, we slide, almost without noticing, back into superstition and darkness. The dumbing down of America is most evident in the slow decay of substantive content in the enormously influential media, the 30-second sound bites (now down to 10 seconds or less), lowest common denominator programming, credulous presentations on pseudoscience and superstition, but especially a kind of celebration of ignorance. As I write, the number one video cassette rental in America is the movie Dumb and Dumber. Beavis and Butthead remains popular (and influential) with young TV viewers. The plain lesson is that study and learning – not just of science, but of anything – are avoidable, even undesirable.

    We’ve arranged a global civilization in which most crucial elements – transportation, communications, and all other industries; agriculture, medicine, education, entertainment, protecting the environment; and even the key democratic institution of voting – profoundly depend on science and technology. We have also arranged things so that almost no one understands science and technology. This is the prescription for disaster. We might get away with it for a while, but sooner or later this combustible mixture of ignorance and power is going to blow up in our faces.

    1. This battle has been ongoing for centuries. Cross-discipline teaching techniques, based on geometry, were revived by 1800 France’s precursor of modern-day MIT and will remain valuable in 2200.
      https://web.archive.org/web/20220506150152/http://r.schillerinstitute.org/educ/hist/1997/bourbons_pbeaudry.html

      It is as a result of the destruction of the Ecole Polytechnique’s national education system, that France lost its soul as a nation-state … From 1794 to 1814, the Ecole Polytechnique had become without any doubt the leading scientific institution in the world … The education program of the Ecole Polytechnique was based on universal principles which subsumed and linked together methods applicable to both Arts and Sciences. 

      Its principal mission was to give the new Republic, as efficiently and as rapidly as humanly possible, scientists, and engineers to serve in public works, as well as in the military. Also required were architects, manufacturers, artists, physicists, chemists, etc.; and the polytechnique method of descriptive geometry, instituted by Monge, served as the theoretical and practical epistemological basis for that purpose … 

      … the method of discovery was made accessible to every citizen, especially the poor and the orphans, in order to enlarge the pool of contributions that would be put at the service of the nation-state. Carnot made clear that this principle of education was not just for France, but for the whole world. “Elevate to the dignity of man every individual of the human species,” he wrote.

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