On my quest to discover why the channel doesn’t grow anymore, one of the things I’ve identified is my tendency to publish videos at the end of the day on Tuesday. This means fewer waking hours for people to discover the video in the US, and it means that most of my overseas audience doesn’t get the chance to see it until Wednesday.
Which is all to explain why This week’s Tuesday video is an unproduced rant. I’ve got a produced video written, and expect to work hard on it throughout today and tomorrow. But instead of publishing it for an audience that’s mostly asleep, I’ll hold it for Thursday or Friday morning EST, and increase its chances of being seen widely.
I hope you enjoy this rant on Chad. What’s going on in the Sahel has bugged me for quite some time, but the lack of unbiased information has made it hard for me to dive in. Interestingly, the bizarre death of this pillar of French policy in the region is bringing some more scrutiny and ways into the story.
Economies are funny things. I just noticed that I forgot to tie today’s video into one of the central messages of this “Markets Are Dumb” series. That’s the importance of Confidence to markets. I sometimes think that’s all there is to them. In our last installment on the Turkish economy I talked about how the fundamentals of the Turkish economy had been disastrous for half a decade. Everybody knew this. All the experts agreed. Yet the Turkish economy kept trucking along, and sometimes putting up very impressive growth numbers. How did it happen? Confidence.
The Turkish people weren’t exposed to the basic facts of their economy, and their misplaced faith, or confidence, kept the wheels spinning. The growth this led to prompted international investors to keep pouring money it. It seems that this perpetual motion machine may finally have stopped. As today’s video makes clear, Trump can’t be held responsible for any of the disastrous choices that Turkish policy makers have made over the past decade. But he is the guy who finally punctured that last bubble of confidence. And that’s actually pretty important.