Tag Archives: Economics

The Stock Market’s “Trump Bump” Is Over | Markets Are Dumb 2

With today’s video we go all in on discussing the US stock market. There’s this idea that stock markets are somehow rational, or serious. People who talk about it are always wearing suits, and we put a lot of effort into making all the details of interest rates, portfolio management, and valuations seem boring. The stock market is none of these things. In fact it’s nuts. By going through the history of the “Trump Bump”, I attempt to draw the curtain back a bit.

Unfortunately, watching the video, I think I screwed something up. It’s not that the story I put forward is wrong, it’s just that I left too much out. The video falls into the “Presidents impact everything” school of commentary. I hate that school. The differing views market makers took of Trump and Obama are tremendously important to this particular economic story, but that doesn’t mean that presidents are actually all that powerful. I really don’t want to create that impression, and I apologize if I did so with this video.

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Video Transcript after the jump…

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How The US Gets China Wrong | World War 3 IV

Over the next couple weeks I intend to get into China in more detail. I’ve certainly covered China in the past, sometimes discounting the idea that they pose a threat to the US today, but at other points hinting that the US-China relationship SHOULD be our main priority. There is no contradiction here. To clarify that approach, with today’s video I’m returning to my old World War 3 series. The name of the playlist is of course an SEO bid for eyeballs, but it also goes beyond that.

Regular viewers know I don’t think a new world war is coming for decades, but I do think it’s coming. It’s up to us to decide whether it comes in 50 years or 500 years. So last year, I started this series, to evaluate the chances of war, and to dive in a little on the conflicts and opportunities that will determine when this conflict happens. I like that I did three vids about a year ago, and I’m weighing in about a year later, to take a deeper dive. Last year, I pointed out why Trump wasn’t going to war with China, but he was making that future war more likely. In World War 3 II, I pointed out why Russia won’t be a major combatant in the next war, though it may be a battleground. Next I laid out the dangers of Trump’s attack on the US world order, and how it makes conflict more likely.

With today’s vid World War 3 IV, I dispel some myths about China’s rise, and point out why it can be an opportunity rather than a threat. I’ve already got the next two installments written, which dive deep into what Syria means for the US-China relationship, and why we should get out of it. I’m very pleased with how this series is developing, and like the idea of revisiting it each year. Check out this playlist I’ve built, that intersperses the vids with other relevant videos from the back catalog…

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Video Transcript after the jump…

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Why Turkey Will Never Be Pakistan | Everybody’s Lying About Islam 32

I wanted to address another aspect of the comparison between Pakistan and Turkey that the cursed article I talk about in today’s video mentions briefly. The article does concede that Pakistan’s dictator led Islamification under Zia ul-Haq was a completely different example than the attempts at Islamification currently being carried out by Turkey’s elected president Erdogan. As I point out in the video, Pakistan remains desperately poor today and this was even more the case in the 1980’s. Zia was using Islam as tool for nation-building. It remains a key part of Pakistan’s sense of itself as a nation today.

As I laid out in my other two videos on Islam in Turkey, Erdogan does not have the blank slate to work with that Pakistan’s Zia did. Pakistan of course, unlike Saudi Arabia, has an endlessly rich and varied history. But very few among a population that mostly couldn’t read, and was living on the brink of starvation, were able to benefit from that history and culture. Turkey has a very distinct sense of nationalism that is quite separate from Islam, and that is internalized across the population. No matter how powerful Erdogan becomes, he will not be able to eradicate those underpinnings.

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Video Transcript after the jump…

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