Tag: Lies

Categories
Finance Politics

Day 1558 and Basis Point Bullying

I’ve tried not to pay too close attention to the panicked aftermath of the new tariff regime.

I don’t trade the public markets actively and we’d already made preparations in our personal financial lives for a deleveraged dollar. It seemed clear where things were headed and weakening the dollar solves a couple problems for America.

I am a free trader. I believe in open markets as the most effective means we currently have at our disposal for large scale coordination that works with human nature.

Nevertheless the allure of central planning and collectivism is hard to resist for those in power. The market will adapt and find other ways of allocating assets but the wasted energy of a crisis frustrates investors. Damming the waters only impeded flow.

Each basis point drop saves America 1 billion according to Secretary Bessent. So we’ve an incentive to nuke 30 basis points and keep yields low. And yet the 10 year is still stubbornly high.

The exorbitant privilege of Bretton Woods comes with the fears of a centralized currency managed by technocrats who must give guidance to markets without providing too many surprises.

I grew up with a significant amount of skepticism around the federal reserve and its places to hippie parents and the University of Chicago but even I never thought I’d live to see this kind of test. And I am a Bitcoiner! Maybe Silicon Valley will finally find out what bargain we have with Uncle Sam.

Categories
Politics

Day 1556 and Market Mania and Mold

I’ve had a week of poor sleep that feels like it’s catching up with me. My mood is sour and my mind is mush. This sort of state leaves me with anxiety.

The running joke in the family is that anytime the markets are about to go off I feel it in my body long before it hits the Bloomberg terminal.

I vividly remember the day Silicon Valley Bank collapsed as I had a terrible migraine. I had a sense in the days before I can only describe as snowblind. An informational blizzard of such density and intensity it turned every vantage into a blinding sameness.

It’s possible I’m a mess as the whole week was a mixture of market mania thanks to “Liberation Day” tariffs along with other personal life challenges like mold remediation.

I feel anxious about everything which is to say I am not anxious about anything. It’s simply pervasive. If past market issues caused snowblindness this feels more like swamp gas. It stinks, is favored by conspiratorial types and is a fantastic excuse for seeing things you shouldn’t.

Categories
Culture

Day 1551 and Jokes On Us

April Fool’s Day is just the worst. Practical jokes were much more enjoyable when telling the truth was still a widely accepted social norm. Our moment is one of a thousand falsehoods.

Our commitment to the truth and a shared sense of what separates truth from falsehoods has never felt shakier to me. It’s one strategic lie after another from all our institutions and leaders.

If you are living in our era of lies, half truths, and various flavors of misinformation & disinformation the idea of dedicated a day to falsehoods seems perverse. I don’t want to be on the Internet or a part of discourse on a day when deliberately lying gives you social capital.

Alas this is an ancient human custom in many places. The Indian festival of Holi, medieval Feast of Fools, and the Roman Hilaria are all early spring celebrations of pranks, jokes and foolishness. The prevailing theory dates to France and the change to the Gregorian calendar.

April Fools’ Day back to 16th-century France. In 1564, King Charles IX adopted the Gregorian calendar, moving New Year’s Day from late March (around the vernal equinox) to January 1. Those who continued celebrating the old New Year date on April 1 were mocked as “April fools” and became targets of pranks, such as receiving fake gifts or being sent on “fool’s errands.”

– Via Perplexity

I rather imagine that the religious traditions mentioned above all valued truth as a foundational virtue. To know the truth of the world and the truth of your soul are the twin ambitions of human life.

Perhaps I’m being too sensitive. Or too rigid. Humans are evolved primates and we play status games that involve deception in the entire primate family. But I’d still prefer that we communicate true information to each other as both a norm and as an aspiration. That’s not a joke.

Categories
Emotional Work

Day 1538 and Reason About the World

There is a pet theory that I ascribe to that precious few changes their minds without experiencing a failure in social consensus. Being pushed outside of culture lets you map it more accurately on the way back in.

There is nothing more valuable than your ability to reason about the world. We sense-make with all kinds of inconsistencies and have so little incentive to step out of what we think is true about our world. Go along to get along is how humans stay alive.

I have had a wildly inaccurate model of the world in the past and I’m confident I’ll say that same soon in the future.

But I’m comfortable falling out of social consensus if it clashes with the model of the world that I work within. I’m not saying I’m smarter than anyone but I do know that I regularly weigh my faulty priors even if it’s embarrassing. I’ll keep searching for people who can reason about the world. We can see better together.

Categories
Emotional Work

Day 1530 and Pandemic Anniversary

March 11 2020 was the day the World Health Organization declared Covid-19 to be a pandemic. It’s been five years since we had our once in a century pandemic that changed everything. Honestly it feels like it just happened.

You can quibble a bit on the start (right there in the name alluding to its discovery in 2019) but this second of March the week where America finally started changing behaviors. Within two weeks we’d have the infamous “flatten the curve” discussion. What a shitshow those early days were.

The pandemic changed a lot of people’s lives. The New York Times has a feature with 30 charts about how the world is different that I found interesting.

My life changed in a lot of ways that are probably recognizable to other Americans. My already digital life became how business was done. I moved back home. I rethought my relationship with institutional trust.

We lived in New York when we were locked down. Alex and I didn’t leave our one bedroom apartment for three months except to go to the CVS.

Coincidentally we’d been in the middle of our landlord trying to evict us for filing a complaint with the department of buildings over broken elevators. That got stopped. As soon as it seemed safe to leave city we rented an Airbnb in the Hudson Valley. The next week protests broke out. We had lived above City Hall so we got very lucky.

Figuring out where to land and the shape of our lives was a process. The Airbnb phase felt stressful as the summer ended and the urge for permanency felt overwhelming. We signed a lease site unseen for a townhouse in my hometown of Boulder Colorado.

Much of the rest of these past five years have been subsequently documented here on this blog. We found our way to Montana. A lot happened in those intervening years. None of it felt like it happened very fast. And yet here we are.

Categories
Finance

Day 1529 and The Detoxing Economy

Do you recall the first time you heard the term detox? If you were a hippie kid I’d bet you grew up with it. If you were a striver maybe it arrived in your email inbox with Gwyneth Paltrow’s Goop.

Or if you are a banker, maybe Scott Bessent introduced you to the term just this week. Which tbh I wouldn’t entirely believe as the entire dating pool for the professional upper middle class is obsessed with wellness.

“The market and the economy have just become hooked. We’ve become addicted to this government spending, and there’s going to be a detox period,”

Scott Bessent at the New York Economic Club March 6th 2025

Hippies and anxious white women usually use detox as a kind of catch all for methods of various efficacy for flushing out unwelcome…toxins. Being specific can make you sound like a loony tune.

Turns the same logic can be applied to economic and fiscal policy. If you get too far into monetary policy and the Federal Reserve you too will sound like a loony tune.

But it’s hard not to be persuaded by those who rightly point out that America has been printing money and that has downstream effects.

Many an empire has fallen for debasing its currency. Something I am sure a man like Bessent understands. It’s not so much a pleasant white girl cleanse but managing through opioid addiction. Which isn’t an encouraging metaphor.

Categories
Internet Culture Media

Day 1514 and Informational Ravine

I hate to add fears that we will face a “dead internet” but increasingly we lack shared context in our online spaces. As context collapses so too does culture. Bad behavior proliferates.

Without shared values we cannot find purchase on the informational ravine of the open web. Competing narratives and interests buffet your mind as you try to sense-make your way into a firmer grip. It’s easy to slip and find yourself unsure of what is up or down.

The vibes are bad. People have entirely different interpretations when presented with something as innocuous as an email asking “what did you get done this week?” If you discuss a particularly contested space it quickly becomes a hostile information environment. Many retreat.

If you are tempted to argue with me about whether that action is in fact innocuous you have to wonder how far apart you and I are from each other as we try to climb through the great ravine to the other side.

Categories
Chronic Disease Politics

Day 1490 and Healthcare’s Sin Eaters

I went to see a rheumatologist today. I had the baffling experience of them wanting to actually get to know me. Which was surprisingly unhelpful in the moment but really nails vibe we’ve got with healthcare in America.

I kvetched on Twitter that I spent my week defending hot girls and open source software while I deride Big Pharma and public employee unions. That’s more of a humble brag about my priorities. But I felt bad that I picked on pharmaceuticals. I got replies. Why harsh on pharmaceuticals? And actually fair.

Drug companies are the least bad of some very bad actors. For all its faults, drug companies are not just existing to be parasitic like pharmacy benefit managers or generate wealth through regulatory capture like Epic.

If anything pharma is the sad scapegoat in healthcare. We pick one drug a decade to laud & then like clockwork do a hard reversal on it in a decade or two. Patients get hurt and doctors did their best. We saw with statins, SSRIs, opioids, adderall, and I’m sure soon GLP-1s will be next to have Netflix documentaries. Someone is always to blame and it’s usually the drug companies.

Some category is designated a sin eater for the system’s horrors. Which isn’t at all fair as all those drugs serve real needs. Sorry Oxycodone you remain a villain. But why is American in so much pain?

Which gets back to my surprise as having a doctor who wanted to get to know me. We came in with a typed up diagnostics sheet with a timeline of treatments, protocols and medications and the bastard has the audacity to ask me about the quality of my life.

I hesitate to say “well shit” because I am Protestant from Scandinavians stock because we pride ourselves on being “oh just fine”

And of course I’m the asshole who quotes Kierkegaard at my doctor. Sickness unto death right Doctor? Which I guess is a bit of a downer.

The man actually asked me if I’d consider managing my pain more aggressively. I am absolutely mogged by the audacity of the sentiment that I could suffer less.

Apparently no one scans you for drug seeking behavior when you chuckle and kneel before what God has decided for you. So that’s a good trick I guess for the less sincere.

You can really see how public perception of RFK Jr is so different from what elite narratives would like to see. People are with RFK’s righteous indignation. Why are so many suffering?

The cranks and the crazies are here because America is mostly gaslit by a nest of bad incentives. Doctors don’t want any of this. Neither do the drug companies. But someone has to be blamed and it’s usually the guys with the money. But they are trying as hard as anyone to actually come up with solutions.

Maybe no one deserves to have a righteous Kennedy come after them. But everyone feels a little bit crazy with how the system works now.

Categories
Internet Culture Politics Startups

Day 1487 and Gell Mann Amnesia

It’s a busy day for competitive narratives on social media (and in the markets) as normies are belated reacting to news about a new open source artificial intelligence model from a Chinese quantitative hedge fund called DeepSeek.

The new model been available since Wednesday though many of us open source fans have been using prior versions for quite some time.

DeepSeek even powers the skincare bot my friend Kasra and I have been playing with for fun. We used all the open source models We are early days and hyperscalers have different games they play than us tinkerer types.

I have no hot takes for you on what it means geopolitically or otherwise. You can doomscroll for Jevons Paradox, the possibility of a Sputnik moment for the West, and the benefits of constraints for creativity.

What I think is most useful to remember about media narratives is the Gell-Mann Amnesia effect. Coined by Michael Crichton of Jurassic Park fame it helps remind experts to not expect expertise from normal people.

Briefly stated, the Gell-Mann Amnesia effect is as follows. You open the newspaper to an article on some subject you know well. In Murray’s case, physics. In mine, show business. You read the article and see the journalist has absolutely no understanding of either the facts or the issues. Often, the article is so wrong it actually presents the story backward—reversing cause and effect. I call these the “wet streets cause rain” stories. Paper’s full of them.


In any case, you read with exasperation or amusement the multiple errors in a story, and then turn the page to national or international affairs, and read as if the rest of the newspaper was somehow more accurate about Palestine than the baloney you just read. You turn the page, and forget what you know.

Michael Crichton

I am passionate about the right to compute because new technologies should not be in the hands of only giant corporations or controlled by nation states.

Most of the commentary you will see on any given topic of media interest will be a fog of war mismash of competing narratives and ambitions.

Just remember that it’s wise to be wary of any certainty when it comes to what’s going on. What we know changes on what we know and it’s odd how easily we forget that.

Categories
Media Politics

Day 1472 and Odds and Ends

I have now done six days of hyperbaric chamber oxygen therapy (HBOT for short) in a row. I also did a vitamin IV with glutathione so my morning was well occupied with maximizing wellness.

Because I was inside a chamber and tied to a chair for a few hours I was able to enjoy my backlog of reading. If you enjoy essays and e-ink books I personally use a combination of Readwise Reader and Daylight.

News and Essays

Peter Thiel has an op-ed in the financial times about the American ancien regime and the chance for the Internet era to enable us to grabble with the trouble of our elites.

A fan of Leibniz? The New Yorker reviews two books on his life. The polymath wrote quite a bit which endears me to him but our real debt to him goes beyond calculus notation. George Boole’s logic is partially informed by Leibniz.

Leibniz loved the simplicity and the suggestiveness of binary: he titled a draft paper “Wonderful Origin of All Numbers from 1 and 0, Which Serves as a Beautiful Representation of the Mystery of Creation, since Everything Arises from God and Nothing Else.”

Jacobin asks where all the good American Marxist academic work might be given that we perceive universities as hotbeds of socialism. Spoiler alert it’s hard to find.

Is middle age sexy? I went to read the styles piece in the New York Times only to discover that one must be over 50 to count. This elder millennial keeps trying to claim the mantle of middle age but Gen X and Boomers refuse to age.

Tips and Tricks

It’s wise to have a medical plan when traveling. American medications may be unavailable or even banned (Japan does not permit Adderall in the country).

I travel with a box of about 30 core medications to cover everything from allergies to food poisoning to bacterial infections.

Interested in becoming a Normie Man? Go on Joe Rogan. Not notable enough for an appearance. Let me suggest the rousing version of Copland’s Fanfare for the Common Man.