NICHOLAS DUNBAR ~ THE DEVIL’S DERIVATIVES ~ 2011

~ RTDIA ~ Ready To Do It Again

~ TBAHFMCTB ~ The Bankers And Hedge Fund Managers Celebrating Their Bonuses

~ TBTMBS ~ The Bets That Made Banking Sexy

~ IWCA-CDS-RTBLT-CM-IR-S-O-C-TDWLT-UFD:TDOLOB-IWABLBIPOSEL-TCOPFRNHAQPTCBTED ~ It Was Called A – Credit Default Swap – Rather Than Being Linked To – Currency Markets – Interest Rates – Stocks – Or – Commodities – These Derivatives Were Linked To – Unmitigated Financial Disaster: The Default Of Loans Or Bonds – It Was A Bit Like Buying Insurance Policy On Someone Else’s Life – The Cost Of Protection From Risk Now Had A Quantifiable Price That Could Be Traded Every Day

~ T-S-S-D-O-H-T-LB ~ The – Sad – Strange – Death – Of – Hate-To-Lose Banking

~ TFAOR ~ The False Apostles Of Rationality

~ BRTMTT ~ Bending Reality To Match The Textbook

~ AD-SHIYL ~ A Derivatives-Shaped Hole In Your Life

~ A-FL-W-PF ~ A – Free Lunch – With – Processed Food

~ TDAEMP ~ The Debt And Equity Morality Play

~ BATG ~ Barbarians Among The Gatekeepers

~ STU ~ Selling The Unsellable

~ RC ~ Regulatory Capture

~ PTB ~ Passing The Bucks

~ ‘SI’/’LD’-’LL’ ~ “Stated Income” / “Limited Documentation” – “Liar Loans”

~ P-T-EL ~ Primed-To-Explode Loans

~ A-BCDS ~ Asset-Backed Credit Default Swaps

~ NINJA ~ No Income / No Job / No Assets

~ TF-SMOTFSWNOACOMA ~ The Full-Scale Meltdown Of The Financial System Was Now Only A Couple Of Months Away

~ BITS ~ Banking In The Shadows

~ T-S-I-WL-R-AM-S-DITE-‘R’-FESOTIP ~ The – Self-Interest – Was Less – Rational – And More – Selfish – Driving Individuals To Extract – “Rent” – From Each Step Of The Innovation Process

~ BBPM ~ Banking By Photocopy Machine

~ TCOASA-H/L/U-O-TBG-TF-WAYU ~ The Consequences Of Allowing Such A – Huge / Leveraged / Unregulated – Off-Track Betting Game – To Flourish – Were As Yet Unimagined

~ PGTB ~ Pop Goes The Bubble

~ MCD ~ Massive Collateral Damage

~ ‘STBYOV…’ ~ “Sorry To Bother You On Vacation…”

~ CITS ~ Cracks In The Street

~ L-A-D-O-PD ~ Life – And – Death – On – Planet Derivative

~ WHBMRBIU-BPHOBODITS-GQTWOU-APU-PD ~ What Had Been Measurable Risk Became Immeasurable Uncertainty – By Pouring Hundreds Of Billions Of Dollars Into The System – Governments Quenched The Wildfire Of Uncertainty – And Propped Up – Planet Derivative

~ JTATOTB ~ Just Throw A Tarp Over The Body

~ ASOILADMAAD-AOTUPUBTG-PFBT ~ A Series Of Increasingly Large And Desperate Merger And Acquisition Deals – All Of Them Ultimately Propped Up By The Government – Paid For By Taxpayers

~ BHMHRC ~ But How Much Has Really Changed?

~ UB ~ Unchastened Banks

~ TM-NCTATBRIB ~ The Multi-Nationals Continue To Argue That Bigger Really Is Better

~ DS(M)U-THITTRATHT-TOIP-TCOC-TUATWOC ~ Derivatives Still (Mostly) Unbound – The Huge Incentives To Take Risks And Then Hedge Them – The Opacity In Pricing – The Contagion Of Collateralization – The Uncertainty About The Web Of Counterparties

~ BB ~ Buyers Beware

RUTH SOUKUP ~ LIVING WELL SPENDING LESS ~ 2014

~ TGLINWWTII-MINE-DYGL ~ The Good Life Is Not What We Think It Is – More Is Never Enough – Define Your Good Life

~ CIAC ~ Contentment Is A Choice

~ KWMM-IIWTDT-WWPRMF? ~ Knowing What Matters Most – If I Were To Die Tomorrow – What Would People Remember Me For?

~ AAOG ~ An Attitude Of Gratitude

~ ET-SFCIASACTSCOTTTCUTS-IMSAFATTTMUFUOLWJDHE ~ Eliminating Temptation – Sometimes Finding Contentment Is As Simple As Choosing To Steer Clear Of The Things That Cause Us To Stumble – It Means Staying Away From All Those Things That Make Us Feel Unworthy Or Like We Just Don’t Have Enough

~ WAHASS-FYSS-WIYP? ~ We All Have A Sweet Spot – Finding Your Sweet Spot – Where Is Your Passion?

~ BWYA-MTMOWYARN ~ Bloom Where You Are – Make The Most Of Where You Are Right Now

~ IOG ~ Identifying Our Gifts

~ WG-CCYL-WTDMTR-A-OTAR-YCIT ~ Written Goals – Can Change Your Life – Writing Them Down Makes Them Real – And – Once They Are Real – You Can’t Ignore Them

~ PYR-BCAYO-GYADD-BDLG-TYP-CA-CYS ~ Planning Your Route – Be Clear About Your Objective – Give Yourself A Due Date – Break Down Large Goals – Track Your Progress – Create Accountability – Celebrate Your Success

~ S-TS-F-L-TG ~ Short-Term Sacrifices – For – Long-Term Gain

~ WAGTS24H ~ We All Get The Same Twenty-Four Hours

~ ETU ~ Eliminating The Unessential

~ LSEMJ ~ Less Stuff Equals More Joy

~ STF-IYTWTLCF-YMSBMS ~ Stop The Flow – If You Truly Want To Live Clutter Free – You Must Stop Buying More Stuff

~ VQOQ ~ Value Quality Over Quantity

~ PYES ~ Purge Your Excess Stuff

~ WNTSLTWTWD ~ We Need To Spend Less Than We Think We Do

~ RTAOL ~ Retail Therapy And Other Lies

~ SIASOM ~ Saving Is A State Of Mind

~ CAB-AST-ARB ~ Creating A Budget – And Sticking To – A Realistic Budget

~ SMOOS-HOA-TIIQSTRHMPEFCB-EOTTWN ~ So Much Of Our Spending – Happens On Autopilot – That It Is Quite Shocking To Realize How Many Possibilities Exist For Cutting Back – Even On Those Things We Need

~ SFTF-SAMFTFINAL;IIAN ~ Saving For The Future – Setting Aside Money For The Future Is Not A Luxury; It Is A Necessity

~STS-S-S-S- ~ Shop The Sales – Stockpile – Stockpile – Stockpile

~ GYO ~ Grow Your Own

~ ACHIAHH ~ A Clean House Is A Happy House

~ TBTILAF ~ The Best Things In Life Are Free

~ NYF ~ Nurturing Your Friendships

~ CC ~ Cultivating Creativity

~ WGMWWG ~ We Get More When We Give

B.J. MENDELSON ~ SOCIAL MEDIA IS BULLSHIT ~ 2012

~ TPWGRDT-GR-ARTPDFG-ITPSTS ~ The People Who Get Rich During – The Gold Rush – Are Rarely The People Digging For Gold – It’s The People Selling The Shovels

~ MOTN-PGTWTATB-TPTK-KSWCHT ~ More Often Than Not – People Get To Where They Are Today Because – The People They Know – Know Someone Who Could Help Them

~ TA-BE ~ The Asshole-Based Economy

~ CAGROOWACTMDTKCO-ATWIRBBAC-IOTROU-ETWWTTWWLTPF ~ Corporations Are Getting Rich Off Our Work And Consolidating Their Market Dominance To Keep Competitors Out – And The Web Is Rewarding Big Brands And Celebrities – Instead Of The Rest Of Us – Even Though We Were Told The Web Would Level The Playing Field

~ IOTTPASI-B-IAWOTTPAS-M-U– A– PHI-TFYOI ~ It’s One Thing To Package And Sell Information – But – It’s A Whole Other Thing To Package And Sell – Made-Up And – Potentially Harmful Information – To Further Your Own Interests – The Asshole-Based Economy – Selling Harmful Bullshit To Further Their Own Interests

~ CH ~ Cyber Hipsters

~ CH-TRTSIUTTETPTHTPTDA-W-R/F/C/T/E/ASF-AAALEAOWL-TTCIOTTITFO-A-SF-A-BD-TFGITEAC-TSG-ATWTTI-IGTCTWBLUBTM ~ Cyber Hipsters – The Rhetoric They Spew Is Usually To The Effect That People Today Have The Power To Do Anything – Without – Resources / Funding / Connections / Training / Education / And So Forth – After Amassing A Large Enough Audience Of Willing Listeners – They Then Cash In On The Traffic Generated From The Talk In The Form Of – Advertisements – Speaking Fees – And – Book Deals – The First Group Is The Early Adopter Crowd – The Second Group – Are Those Who Think The Internet – Is Going To Change The World By Letting Us Be The Media

~ INC-TALOTICHTMCT-CFEMOOC-BRTA-CH-CFTKOBPSCHWBATIP-AIAFTTOWCHOT ~ It’s No Coincidence – That A Lot Of The Important Cyber Hipsters That Marketers Cater To – Came From Established Media Outlets Or Corporations – Before Reinventing Themselves As – Cyber Hipsters – Coming From This Kind Of Background Provides Some Cyber Hipsters With Better Access To Important Parties – And Increased Attention From The Thousands Of Wannabe Cyber Hipsters Out There

~ MMTY-BAD-BTNTMTYT ~ Marketers May Tell You – Books Are Dead – But They Need Them More Than You Think

~ DES-TNODWWFTLCNWFY-B-TAMIWTDEWFT-E-DT-EY-MTOABC-‘SMSS’-SHIPT-‘SM’-CWFY-AEYITOTWTPTTPIQTWS-TH-M-C-A-OR-ATDTTCTI-IF-ALOTSALA-‘SM’- AA-RG-BA-LL ~ Despite Evidence Showing – That Not Only Does What Work For The Large Corporation Not Work For You – But – There Are Many Instances Where This Doesn’t Even Work For Them – Either – Despite This – Every Year – Marketers Trot Out A Big Corporate – “Social Media Success Story” – Saying How Its Proof That – “Social Media” – Can Work For You – And Every Year It Turns Out That What They Present To The Public Isn’t Quite The Whole Story – They Have – Money – Connections – And – Other Resources – At Their Disposal That They Can Tap Into – In Fact – A Lot Of Them Simply Aren’t Looking At – “Social Media” – As A – Revenue Generator – But A – Loss Leader

~ ‘PI’-90%L-9%MCO-1%WDMOTCAP ~ “Participation Inequality” – 90 Percent Lurk – 9 Percent Might Contribute Occasionally – 1 Percent Will Do Most Of The Commenting And Participating

~ TCWRTPHJAMTGBSBATMD ~ The Companies Who Run These Platforms Have Just As Much To Gain By Spreading Bullshit As The Marketers Do

~ IYAGTSSMTIMH-YBSPR ~ If You Are Going To Spend So Much Time In My Head – You Better Start Paying Rent

~ ATAASABFOOWS-OTYO ~ All Traffic And Attention Should Always Be Focused On One Web Site – One That You Own

~ W-M-AO-CH-ACO-IATCYAD-TUFLTJTA-WTTF-TWRWAA-OA-O-Y-YF-EYD-ITHTIDPATTHOOT ~ Whenever – Marketers – And Other – Cyber Hipsters – Are Called Out – In Addition To Calling You A Dinosaur – They’ll Use Faulty Logic To Justify Their Actions – When Those Tactics Fail – They Will React With An All-Out Assault – On – You – Your Family – Everything You Do – In The Hopes That It’ll Distract People And Take The Heat Off Of Them

~ EIYFOTIUYSSTDL ~ Everyone Is Your Friend On The Internet Until You Say Something They Don’t Like

~ IW-A-H-SOPSPANT-WMLTBS-EIWDKTPSTNTIBPTDS ~ If – We – As – Humans – See Other People Saying Positive And Nice Things – We’re More Likely To Be Swayed – Especially If We Don’t Know That Person Saying Those Nice Things Is Being Paid To Do So

~ RN-T- ‘SM’-W-IDU-STASTMO-T-‘G’-‘BD’-‘TMW’-BIAE ~ Right Now – The – “Social Media” – Well – Is Drying Up – So They Are Starting To Move On – To – “Gamification” – “Big Data” – “The Mobile Web” – Bullshit Is Always Evolving

~ AS-TCRTCOOAMPAD-ROTV-A-TEBOTT-TMWKOC ~ A System – That Currently Rewards The Churning Out Of A Million Posts A Day – Regardless Of Their Value – And – The Easy Burial Of The Truth – The Myths Will Keep On Coming

~ FWPOTIIALLBIACA;NCOLG ~ Fighting With People On The Internet Is A Lot Like Being In A Car Accident; Nobody Comes Out Looking Good

~ RTEW ~ Roswell That Ends Well

~ TA-SMM ~ The Anti-Social Media Manifesto

~ WTPOHAMF-W-NOT-A-COYL-FYCTA-A-NCOTMY? ~ What’s The Point Of Having A Million Followers – When – None Of Them – Are – Clicking On Your Links – Following Your Calls To Action – And – Not Coming Out To Meet You?

~ TANMPWHSFTST-‘SM’-IB-INANCABTM ~ There Are Not Many People Who Have Stepped Forward To Say That – “Social Media” Is Bullshit – It’s Not A Narrative Currently Accepted By The Media

~ TEOBAAHT-‘MI’-OTW-MCTAE-ATSNJBCO-T-‘SM’E-BBCOTTI ~ The Era Of Bad Advice About How To – “Make It” – On The Web – Must Come To An End – And That Starts Not Just By Calling Out – The “Social Media” Experts – But By Calling Out The Term Itself

~ GRSL-‘SM’-CAG ~ Get Rich Quick Schemes Like – “Social Media” – Come And Go

~ TEST-‘SM’-I-PPITHOTP-A-TNEPAGTCE-NOTIT-WHLP-NM-A-NILTWWHTS-U-C-TM-O-SF-GI ~ The Experts Say That – “Social Media” – Is – Putting Power Into The Hands Of The People – And – These Newly Empowered People Are Going To Change Everything – None Of This Is True – We Have Less Power – Not More – And – Nobody Is Listening To What We Have To Say – Unless – Companies – The Media – Or – Someone Famous – Gets Involved

~ WCLIAWWYCMFMMTPAHTGROTI-TYCBATTGR-TNTC ~ We Live In A World Where You Can Make Far More Money Telling People About How To Get Rich On The Internet – Than You Can By Actually Trying To Get Rich – That Needs To Change

JOSEPH STIGLITZ ~ THE PRICE OF INEQUALITY ~ HOW TODAY’S DIVIDED SOCIETY ENDANGERS OUR FUTURE ~ NORTON ~ 2012

~ SGVFCTC-TWSST-TWACUT-IMW-T-EAPS-HF-A-T-BWFU ~ Specific Grievances Varied From Country To Country – There Were Some Shared Themes – There Was A Common Understanding That – In Many Ways – The – Economic And Political System – Had Failed – And – That – Both Were Fundamentally Unfair

~ TGBWOEAPSASTD-WWWTTDD-AWTAC-BTLTBI ~ The Gap Between What Our Economic And Political Systems Are Supposed To Do – What We Were Told They Did Do – And What They Actually Do – Became Too Large To Be Ignored

~ TBHTB-T-WGA-WHBTATEED-ACLATSSTTWNAA-TBHITBTW ~ The Bankers Had Taken Bets – That – Without Government Assistance – Would Have Brought Them And The Entire Economy Down – A Closer Look At The System Showed That This Was Not An Accident – The Bankers Had Incentives To Behave This Way

~ TMOINE ~ The Market Obviously Is Not Efficient

~ U-TIOTMTGJFSMC-ITWFOTM-TGSOI-AAMCOI ~ Unemployment – The Inability Of The Market To Generate Jobs For So Many Citizens – Is The Worst Failure Of The Market – The Greatest Source Of Inefficiency – And A Major Cause Of Inequality

~ WHEHAHP ~ We Have Empty Homes And Homeless People

~ WAPAHPFO-I-AESTISSALE-WLG-A-ADTHBPIP ~ We Are Paying A High Price For Our – Inequality – An Economic System That Is Less Stable And Less Efficient – With Less Growth – And – A Democracy That Has Been Put Into Peril

~ TPOMIE-BTHNIMC ~ The Power Of Markets Is Enormous – But They Have No Inherent Moral Character

~ ATB-MHPACRITSIIPASOLITPTHY-BGHAPAMRITA-AFTF-MATFTA ~ At Their Best – Markets Have Played A Central Role In The Stunning Increases In Productivity And Standards Of Living In The Past Two Hundred Years – But Government Has Also Played A Major Role In These Advances – A Fact That Free-Market Advocates Typically Fail To Acknowledge

~ OTOH-MCACW-PECOTS-A-AWAC ~ On The Other Hand – Markets Can Also Concentrate Wealth – Pass Environmental Costs On To Society – And – Abuse Workers And Consumers

~ TFIPAEAR-ATREO-PHSTM-ASIIWT-ATT-ATEOTR ~ The Failures In Politics And Economics Are Related – And They Reinforce Each Other – Politics Have Shaped The Market – And Shaped It In Ways That – Advantage The Top – At The Expense Of The Rest

~ UMDNWW-AWHS ~ Unfettered Markets Do Not Work Well – As We Have Seen

~ TLOI-A-TAOO-INI-NIIRRSTPOIMF ~ The Level Of Inequality – And – The Absence Of Opportunity – Is Not Inevitable – Nor Is Its Recent Rise Simply The Product Of Inexorable Market Forces

~ IA-ATAM-ATTCTGMMTTTWBE-PBIWLTMG-TIAIC-T-DE-IHALP-AHLBD-HIHNLTMG ~ Inequality’s Apologists – And They Are Many – Argue To The Contrary That Giving More Money To The Top Will Benefit Everyone – Partly Because It Would Led To More Growth – This Is An Idea Called – Trickle-Down Economics – It Has A Long Pedigree – And Has Long Been Discredited – Higher Inequality Has Not Led To More Growth

~ SDIIFTBIP-TETERTTSAA-‘PT’ ~ So Difficult Is It For Those Born Into Poverty To Escape – That Economists Refer To The Situation As A – “Poverty Trap”

~ MOIIDFCCAOI ~ Measures Of Income Inequality Don’t Fully Capture Critical Aspects Of Inequality

~ MOTITETIARO-GP-BWTGDAWIDND-IITROPFAMAOEO ~ Much Of The Inequality That Exists Today Is A Result Of – Government Policy – Both What The Government Does And What It Does Not Do – Inequality Is The Result Of Political Forces As Much As Of Economic Ones

~ TMTMA-TMCTALTB-WGI-CMCEAD ~ The More Transparent Markets Are – The More Competitive They Are Likely To Be – Without Good Information – Capital Markets Can’t Exercise Any Discipline

~ T-WAS-CWI;IC-T-T-‘R’-O-L/NR-WMTD ~ Taxing – Work And Savings – Can Weaken Incentives; In Contrast – Taxing – The – “Rents” – On – Land / Natural Resources – Won’t Make Them Disappear

~ INHTBWITGSY-F-$500M-AM-TW-$1B~ It’s Not Hard To Become Wealthy If The Government Sells You – For – $500 Million – A Mine – That’s Worth – $1 Billion

~ TSWTASMIGTGTGYO ~ The Simplest Way To A Sustainable Monopoly Is Getting The Government To Give You One

~ IOTTWIAFG-IQATBATWTROTG-A-IEW-IYCCYOR ~ It’s One Thing To Win In A Fair Game – It’s Quite Another To Be Able To Write The Rules Of The Game – And – It’s Even Worse – If You Can Choose Your Own Referees

~ ‘RC’-TOTRC-CFARTTSTTASTR-STSW-GWRITP-GC ~ “Regulatory Capture” – Those On The Regulatory Commissions – Come From And Return To The Sector That They Are Supposed To Regulate – Serve The Sector Well – Get Well Rewarded In Their Post-Government Career

~ ITGGYTRT-E-R-F-F-IDTAGTMAF ~ If The Government Grants You The Right To – Extract – Resources – For – Free – It Doesn’t Take A Genius To Make A Fortune

~ OESRP-NMHTM-AIA-M-CE-INSTSMSPTTS ~ Our Economic System Rewards Profits – No Matter How They’re Made – And In A – Money-Centric Economy – It’s Not Surprising To See Moral Scruples Put To The Side

~ TMDOAIS-IC ~ The Major Determinant Of An Individual’s Success – Initial Conditions

~ LIR-LR-A-ADADFS-CTTROTE-FAM ~ Low Interest Rates – Lax Regulations – And – A Distorted And Dysfunctional Financial Sector – Came To The Rescue Of The Economy – For A Moment

~ R-ATROTG-TEC-TPA-TPTTCPT ~ Regulations – Are The Rules Of The Game – To Ensure Competition – To Prevent Abuses – To Protect Those That Cannot Protect Themselves

~ MOTIIOE:TROR-S ~ Much Of The Inequality In Our Economy: The Result Of Rent-Seeking

~ TFSIST-STROTE-NTOWA ~ The Financial Sector Is Supposed To – Serve The Rest Of The Economy – Not The Other Way Around

~ MOT-‘FI’-WDT-CR-AALL-REP ~ Many Of These – “Financial Innovations” – Were Designed To – Circumvent Regulations – And Actually Lowered Long-Run Economic Performance

~ TCBDAWACC ~ There Can Be Destructive As Well As Constructive Competition

~ IF-ATPOF-IP ~ Increasing Fairness – And The Perception Of Fairness – Increases Productivity

~ TSTOEAPSIU-UT-WIEFTFOOS ~ The Sense That Our Economic And Political System Is Unfair – Undermines Trust – Which Is Essential For The Functioning Of Our Society

~ G-ITFITWWAT-C-TSTNP ~ Government – Is The Formal Institution Through Which We Act Together – Collectively – To Solve The Nation’s Problems

~ CATAIIESOS ~ Cooperation And Trust Are Important In Every Sphere Of Society

~ WOU-TROT-IMOEW-O-TIOTSC-TBUT ~ We Often Underestimate – The Role Of Trust – In Making Our Economy Work – Or – The Importance Of The Social Contract – That Binds Us Together

~ SC-ITGTHST ~ Social Capital – Is The Glue That Holds Societies Together

~ OCSH-D-NS-D-A-FAUG ~ One Cannot Simultaneously Have – Democracy – National Self-Determination – And – Full And Unfettered Globalization

~ N-ITHOTP-HSM-GSM-TSF-WWSR-WAAIR ~ Never – In The History Of The Planet – Had So Many – Given So Much – To So Few – Who Were So Rich – Without Asking Anything In Return

~ MH-BBHRAPLTERTBB ~ Moral Hazard – Bank Bailouts Had Repeatedly And Predictably Led To Excessive Risk Taking By Banks

~ RBBHIHCOT ~ Repeated Bank Bailouts Have Imposed High Costs On Taxpayers

~ ATW-TEO-FP-AL ~ Around The World – The Examples Of – Failed Privatizations – Are Legion

~ MOCWIHWTTC ~ Much Of Corporate Welfare Is Hidden Within The Tax Code

~ MCWITISD-ICGOTUOTR-WTBTL ~ Markets Can’t Work If There Isn’t Some Discipline – If Companies Get Only The Upside Of The Risks – With Taxpayer Bearing The Losses

~ WTWIO-DHTBTFCOTA-TWHII-NTIT-A-TTPTAROI ~ When Those Who Injure Others – Don’t Have To Bear The Full Consequences Of Their Actions – They Will Have Inadequate Incentives – Not To Injure Them – And – To Take Precautions To Avoid Risks Of Injury

~ IEPIACBTUD-PCWF ~ If Economic Power In A Country Becomes Too Unevenly Distributed – Political Consequences Will Follow

~ IAD-API-APAIM-ACBIAPI-MHSDOA-OTMSTTINM-ABDAEP ~ In Any Democracy – A Public Institution – And Pretend As It Might – A Central Bank Is A Public Institution – Must Have Some Degree Of Accountability – Oversight To Make Sure That There Is No Malfeasance – A Central Bank’s Decisions Are Essentially Political

~ AWIP ~ Another World Is Possible

~ N-TPOE-TPOEAF ~ Not – The Politics Of Envy – The Politics Of Efficiency And Fairness

LEWIS LAPHAM ~ MAMMON/ENGLISH DICTIONARY ~ THE AGONY OF MAMMON ~ 01-11-1998

~ A-HAIPOFEFPWCATGTBS-CPEASRFTVOM ~ Austerity: Healthy And Invigorating Program Of Fiscal Exercise For People Who Cannot Afford To Go To Business School – Constant Practice Encourages A Sober Respect For The Value Of Money

~ B-DWBITCMDSOTC-T-A-WRTSEI:ACFPBCBALP-O-B-WRTOOI-AJRBUACE ~ Bailout: Difficult Word Because Its Two Contrary Meanings Depend Solely On The Context – Thus – A – With Reference To Somebody Else’s Investments: A Criminal Fraud Perpetrated By Corrupt Banks And Lying Politicians – Or – B – With Reference To One’s Own Investments – A Just Reward Bestowed Upon A Courageous Entrepreneur

~ B-EOFE-NBKWIMTMAPOTAR ~ Bureaucrats: Enemies Of Free Enterprise – No Bureaucrat Knows What It Means To Meet A Payroll Or Take A Risk

~ CS-PEO-JB – Campaign Slogans: Political Equivalents Of – Junk Bonds

~ CEO-COTP-HOOT-TCOMATTS-40,000SW-WAMQOH ~ CEOs: Champions Of The People – Heroes Of Our Time – Their Clarity Of Mind Allows Them To Subtract – 40,000 Superfluous Workers – Without A Moment’s Qualm Or Hesitation

~ CL-FGT-M/C/R/ATUP-EE ~ Civil Liberties: Favors Granted To – Minorities / Criminals / Radicals / And The Undeserving Poor – Extremely Expensive

~ C(T)-L-T-CI-CT-TMC-O-TLOAR-BIEITROPAICGBTIOP ~ Corporation (Transnational): Late-Twentieth-Century Institution – Comparable To – The Medieval Church – Or – The Legions Of Ancient Rome – Because It Exists In The Realm Of Pure Abstraction It Can Give Birth To Its Own Parents

~ C-SOAMS-TPOOAABTTLOC ~ Corruption: Sign Of A Mature Society – The Practice Of Offering And Accepting Bribes Teaches The Lesson Of Civility

~ C-FNFTCWBSOPH ~ Culture: Fancy Name For Traditional Customs Worn By Schoolchildren On Public Holidays

~ D-OSOGUTTCOTT-FC ~ Democracy: Outworn System Of Government Unequal To The Challenges Of The Twenty-First Century

~ D-TKTOM-OETDWTEL ~ Dictators: They Know Their Own Minds – Often Easier To Deal With Than Elected Legislatures

~ ES-ETC-NG-TWPSATPOTWM ~ Economic Sovereignty: Entrusted To Corporations – Not Governments – The World’s Parliaments Serve At The Pleasure Of The World’s Markets

~ E-NH ~ Ethics: Native Handicrafts

~ F-AMHAMESOGTIGS ~ Fascism: A Much Happier And More Efficient System Of Government Than Is Generally Supposed

~ FM-TFPWSQIOBTWRS ~ Free Market: The Few People Who Still Question Its Omniscience Belong To Weird Religious Sects

~ GE-WOM-EBWF-TGTHOM-IRTPOIIOC ~ Global Economy: Wonderfully Ornate Mechanism – Engineered By Wise Financiers – To Guarantee The Happiness Of Mankind – It Requires The Participation Of Investors Instead Of Citizens

~ GR-STSOV-ISTSOI ~ Government Regulation: Similar To Serpents Or Vines – It Strangles The Sinews Of Industry

~ I:DS-ILSTLARTOLT-ICII-WBTAPRO-V ~ Idealism: Dangerous Substance – If Left Standing Too Long At Room Temperature On A Library Table – Idealism Congeals Into Ideology – Which Breeds Totalitarianism And Puritanical Reigns Of – Virtue

~ MCP:TUWAGSISTACOB ~ Minimum Consensus Program: Terms Under Which A Government Surrenders Its Sovereignty To A Consortium Of Banks

~ M:TLOTWATMOH ~ Money: The Light Of The World And The Mandate Of Heaven

~ M:GMOHI-TSOAOB ~ Monopoly – Glorious Manifestation Of Human Ingenuity – The Source Of All Our Blessings

~ M:TDSUIBTTU ~ Multiculturalism – The Department Stores Understand It Better Than The Universities

~ N:LROSAICWADTT-IOTCABM-TOSRARL ~ Nationalism: Last Refuge Of Small And Impoverished Countries Without A Well-Developed Tourist Trade – Instead Of Tennis Courts And Boat Marinas – They Offer Street Riots And Recreational Looting

~ P,T:IB-POTGE-TPANS:RPMFPTCES ~ Poor, The – Inspirational By-Products Of The Global Economy – They Perform A Necessary Service: Reminding People More Fortunately Placed That Civilization Entails Sacrifice

~ P:NIOO ~ Profits: Never Indecent Or Obscene

~ T,T: FS-FPCITTGE ~ Titanic, The – Famous Ship – Foolish People Compare It To The Global Economy

~ T:WIWIG ~ Transparency: Worth Its Weight In Gold

~ U:NCOI ~ Unemployment: Necessary Check On Inflation

TIM WU ~ THE MASTER SWITCH ~ 2010

~ TKE-TEUBADCTCIPSITI ~ The Kronos Effect ~ The Efforts Undertaken By A Dominant Company To Consume Its Potential Successors In Their Infancy

~ ATYWB-TFOTCS-WBTCT-AN-TA-F-TCOAR ~ As The Years Went By – The Founders Of The Commercial System – Would Begin To Credit Themselves – And Not – The Amateurs – For – The Creation Of American Radio

~ MWSTTAOW-GRICAPITI-B-TSR-WS-CCT-TPOI-T-CE-O-SI ~ Most Who Study These Topics Are Obsessed With – Government’s Role In Censorship And Providing Incentives To Innovate – But – The State’s Role – While Significant – Cannot Compare To – The Power Of Industry – To – Censor Expression – Or – Squelch Invention

~ TEMCOPADP ~ The Enlightened Monopolist Can Occasionally Prove A Delusional Paranoid

~ SOFTM:FO/MT/DSL/FM/SP-TLGOAO ~ Suppress Or Fail To Market: Fiber Optics / Mobile Telephones / Digital Subscriber Lines / Facsimile Machines / SpeakerPhones – The List Goes On And On

~ T-PP-ITITFSOANI-AST-‘EA’-PTTACOI ~ The – Primitive Prototype – Is Typical In The Founding Stage Of A New Industry – As Are The – “Early Adopters” – Prepared To Take A Chance On It

~ W-TV-RCATW-IW-AP-ARORIAR-TPWSBA-MOTSSAOERP ~ When – TV – Reached Consumers After The War – It Was – As Prophesied – A Replica Of Radio In All Respects – The Programming Was Sponsored By Advertisers – Most Of The Shows Simply Adaptations Of Existing Radio Programs

~ TBOTS-IOE-HBCTET-C-IE ~ The Blessing Of The State – Implicit Or Explicit – Has Been Crucial To Every Twentieth-Century Information Empire

~ YAWHSTATA-OGRIITNGUD ~ Yet As We Have Seen Time And Time Again – One Generation’s Radical Innovation Is The Next Generation’s Unyielding Dinosaur

~ AW-TBRIT1910-TOOCTAO-BIWTWOA-AW-TFTITFYOTTC-CWAD-I-T-BFAWWAW~ As With – The Broadcast Radio In The 1910s – The Origins Of Cable Television Are Obscure – Because It Was The Work Of Amateurs – As With – The Farmer’s Telephone In The First Years Of The Twentieth Century – Cable Was A Do-It-Yourself Business For Anyone With Will And Wires

~ TIAUETAAMDWIHBPTD-WSW-OMDNDSW-H-IITSO-CD-TRIAUMPAV ~ There Is An Undeniable Efficiency That Attends A Monopoly’s Doing What It Has Been Perfected To Do – What Such Well-Oiled Machines Do Not Do So Well – However – Is Initiate The Sort Of – Creative Destruction – That Revolutionizes Industries And Ultimately Multiplies Productivity And Value

~ TSATOOCEWALOTTIORMIAWWFHBCE ~ The Shape And Tenor Of Our Current Entertainment World Are Largely Owing To The Imperatives Of Risk Management In A World Where Failure Had Become Catastrophically Expensive

~ WLTCWCWYCEI? ~ Why Learn To Cope With Competition When You Can Eliminate It?

~ IAAMRTEOTM-TMCTPOIAC-TEIIFGTIITTP-BB ~ In An Age More Reliant Than Ever On Telecommunications Media – The More Concentrated The Power Over Information And Communications – The Easier It Is For Government To Indulge Its Temptation To Play – Big Brother

~ ITIRD?-EOIOIKHHIPOO-OTBTBOYAIE-WIG:TROTIOTIOTC? ~ Is The Internet Really Different? – Every Other Invention Of Its Kind Has Had Its Period Of Openness – Only To Become The Basis Of Yet Another Information Empire – Which Is Mightier: The Radicalism Of The Internet Or The Inevitability Of The Cycle?

~ WHBFTRIBOSIAPC ~ We Have Been Freed To Retreat Into Bubbles Of Selective Information And Parochial Concern

~ WAOM-OHDOFOC-AWI-DAGAIAARTEOR ~ With An Open Medium – One Has Diversity Or Fragmentation Of Content – And With It – Differences Among Groups And Individuals Are Accentuated Rather Than Elided Or Repressed

~ C-FIB-TMWAARCATBV ~ Cable – From Its Birth – The Medium Was Always As Relentlessly Commercial As The Broadcast Variant

~ NHAOTMCR-CFTCTROPPM(IV)~ No Honest Account Of The Media Conglomerate’s Rise – Could Fail To Concede The Role Of Purely Personal Motivations (Indeed Vanities)

~ IPD ~ Intellectual Property Development

~ MF ~ Mine Festivals

~ TM-TA:LALS-TA:DACC-ADWAETUFWLR ~ The Monopolist’s – Tools Are: Lawyers And Local Statues – Tactics Are: Delays And Court Challenges – All Deployed With An Eye Toward Unraveling Firms With Lesser Resources

~ BTTOCWSEAAC ~ Blow The Trumpet Of Competition While Simultaneously Eliminating All Actual Competitors

~ TCCOTMS ~ The Current Custodian Of The Master Switch

~ HMGTTIHTO-S/IR/RO-IHMIYCGTT ~ However Many Good Things The Internet Has To Offer – Service / Information Resources / Retail Outlets – It Hardly Matters If You Can’t Get To Them

~ NNITT-FCVOCC ~ Net Neutrality Is The Twenty-First Century’s Version Of Common Carriage

~ WLTBTOSACPPWUPUFTCOAEP-BTHABS ~ We Like To Believe That Our Safeguards Against Concentrated Political Power Will Ultimately Protect Us From The Consequences Of Accumulated Economic Power – But This Hasn’t Always Been So

~ GOPRIAACOPP-NAAATI ~ Government’s Only Proper Role Is As A Check On Private Power – Never As An Aid To It

~ MABF-YNSATBTSW-BEIFC ~ Markets Are Born Free – Yet No Sooner Are They Born Than Some Would-Be Emperor Is Forging Chains

~ TIISN-TIEP-TIIPITB-BR-AAPE-T-CBWOB ~ The Internet Is Simply Not – The Infinitely Elastic Phantasm – That It Is Popularly Imagined To Be – But Rather – An Actual Physical Entity – That – Can Be Warped Or Broken

~ IWDNTTMT-SO-S-OTCTOIAHAUTE-WCRB-I-LOTWAFTETBTIFUIAMHHF ~ If We Do Not Take This Moment To – Secure Our – Sovereignty – Over The Choices That Our Information Age Has Allowed Us To Enjoy – We Cannot Reasonably Blame – Its – Loss – On Those Who Are Free To Enrich Themselves By Taking It From Us In A Manner History Has Foretold

FRANKLIN FOER ~ WORLD WITHOUT MIND ~ 2017

~ WWM ~ World Without Mind

~ TETOBT ~ The Existential Threat Of Big Tech

~ TBTC-A-AOT-TMPGTWHEK ~ The Biggest Tech Companies – Are – Among Other Things – The Most Powerful Gatekeepers The World Has Ever Known

~ TS-MC-LTOTV-IPOC-IPON-HES-THPDS-THHAOPAC-ODBFAFHE-WMSV ~ To Survive – Media Companies – Lost Track Of Their Values – In Pursuit Of Clicks – Important Purveyors Of News – Have Embraced Sensationalism – They Have Published Dubious Stories – They Have Heaped Attention On Propagandists And Conspiracists – Old Boundaries Between Fact And Falsehood Have Eroded – Where Misinformation Spreads Virally

~ WHO-OS-TBSOSAMBC-WWNTARITWNJ-MWM-B-WTCTRTM ~ We’ve Handed Over – Our Secrets – To Be Stored On Servers And Mined By Computers – What We Need To Always Remember Is That We’re Not Just – Merging With Machines – But – With The Companies That Run The Machines

~ IIAIFOTHTTOOSFWTNEOB-P-A-C ~ It Is An Important Fact Of Technological History That The Outskirts Of San Francisco Were The National Epicenter Of Both – Psychedelics – And – Computing

~ AEC-TOFTABQATHI ~ An Engineering Challenge – That Often Fails To Ask Basic Questions About The Human Implications

~ TS-WAIBA-P-WCACODABOC-SI ~ The Singularity – When Artificial Intelligence Becomes All-Powerful – When Computers Are Capable Of Designing And Building Other Computers – SuperIntelligence

~ A-SU-AT-UTALRIIBE ~ Always – Surveilling Users – Auditing Them – Using Them As Lab Rats In Its Behavioral Experiments

~ TTLORIADIITSOC ~ Taken The Language Of Radical Individualism And Deployed It In The Service Of Conformism

~ ‘RT’ ~ “Radical Transparency”

~ ‘UT’ ~ “Ultimate Transparency”

~ TPTEMTCTHAN-A-TTCTTR-ASOPSTCBFM ~ Those Procedures That Enable Mechanical Thinking Came To Have A Name – Algorithms – The Textbooks Compare Them To Recipes – A Series Of Precise Steps That Can Be Followed Mindlessly

~ TAISTBDO:B/I/E/F ~ The Algorithm Is Supposed To Be Devoid Of: Bias / Intuition / Emotion / Forgiveness

~ TTATTDUIC-YTMCUI-D-LVOT-TIIWIWTH ~ They Talk About Torturing The Data Until It Confesses – Yet This Metaphor Contains Unexamined Implicitness – Data – Like Victims Of Torture – Tells Its Interrogator What It Wants To Hear

~ TPITWWOTTM-WAROTTTOTRTM ~ The Problem Is That When We Outsource Thinking To Machines – We Are Really Outsourcing Thinking To The Organizations That Run The Machines

~ TCGWIWAD ~ The Crowd Gets What It Wants And Deserves

~ TWEITMHBP-TATB-WMTETM-AAMTEFW-TRHOTBOC-TNTITRD ~ The Whole Effort Is To Make Human Beings – Predictable – To Anticipate Their Behavior – Which Makes Them Easier To Manipulate – Algorithms Are Meant To Erode Free Will – To Relive Humans Of The Burden Of Choosing – To Nudge Them In The Right Direction

~ AFASOO-TCBTOBCBA-WOEBAOTHGU-IASD-TABADOTEMS-AIMBIRIBISABTDAMPSW-WATSARITGD ~ Algorithms Fuel A Sense Of Omnipotence – The Condescending Belief That Our Behavior Can Be Altered – Without Our Even Being Aware Of The Hand Guiding Us – In A Superior Direction – That’s Always Been A Danger Of The Engineering Mind-Set – As It Moves Beyond Its Roots In Building Inanimate Stuff And Begins To Design A More Perfect Social World – We Are The Screws And Rivets In The Grand Design

~ TITSEOTNKM-TDAPK;TJSAOI ~ This Is The Strange Essence Of The New Knowledge Monopolies – They Don’t Actually Produce Knowledge; They Just Sift And Organize It

~ KITITRTEPOACOI-WK-TFAMBOPO-TM-OTLR-DTCFAE ~ Knowledge Is Too Important To Remain The Eternal Possession Of Any Company Or Individual – We Know – That Future Achievement Must Build On Past Ones – That Monopolies – Over The Long Run – Drain The Creativity From An Economy

~ OAUAP-TBOIPBAABP ~ Once An Underground, Amateur Pastime – The Bootlegging Of Intellectual Property Became An Accepted Business Practice

~ SVRTCAEG-WIOCARMIGIHH ~ Silicon Valley Routinely Trashes Cultural And Economic Gatekeepers – While Its Own Companies Are The Most Imposing Gatekeepers In Human History

~ TPOIOSALMED ~ The Population Of Informational Oligarchs Shrinks A Little More Every Day

~ DASVSABAMTW-TISATTOTO ~ Despite All Silicon Valley’s Sloganeering About Building A More Transparent World – Their Ideals Stop At The Threshold Of Their Offices

~ EF-MC-WWACOP-ACTCTFOWAI-B-TPHBSBAITP-BTDPATN-S-D-P ~ Even Free-Market Conservatives – Will Worry About Concentrations Of Power – Among Companies That Control The Flow Of Words And Ideas – Because – That Power Has Been So Blatantly Abused In The Past – Both The Distant Past And The Not-So-Distant Past

~ IAFOMI-TWROTITTCEST ~ It’s A Failure Of Moral Imagination – That Writers Respond Only To Injustices That They Can Envision Suffering Themselves

~ BVOTS-TFTTDMOTMFDI-CTOSLASG ~ By Virtue Of Their Size – The Fact That They Dominate Much Of The Market For Disseminating Ideas – Criticizing Them Often Seems Like A Suicidal Gesture

~ TITATCWFACIHN-WDNTATWATTCTFTCTSV ~ The Idea That A Tech Company Would Favor A Candidate Is Hardly Novel – We Don’t Need To Assume The Worst About The Tech Companies To Fear Their Capacity To Swing Votes

~ TTTCPLV-TCATMIAC-WCWURITCODB-CTAITDHAAURII ~ Though The Tech Companies Preach Liberal Values – They Crave Access To Markets In Authoritarian Countries – Where Compromise With Ugly Regimes Is The Cost Of Doing Business – Companies That Are Indifferent To Democracy Have Acquired An Outsized Role In It

~ DOTBTCIITPOTWATE ~ Dependence On The Big Tech Companies Is Increasingly The Plight Of The Worker And The Entrepreneur

~ AATMROOT-WLIAWOUBTPTBFEGEAP-IOWLFTN ~ Analytics Are The Managerial Revolution Of Our Time – We Live In A World Of Ubiquitous Data That Provide The Basis For Ever Greater Efficiency And Productivity – If Only We Learn From The Numbers

~ TETOTMEI:‘T’~ The Essential Term Of This Media Era Is: “Trending”

~ OEIDBP-WIGTHNG ~ Our Era Is Defined By Polarization – Warring Ideological Gangs That Yield No Ground

~ TBTM ~ Take Back The Mind

~ DITNO ~ Data Is The New Oil

~ TDFATOTHATMCPOU-TABE-AICOT ~ The Dominant Firms Are The Ones That Have Amassed The Most Complete Portraits Of Us – This Advantage Becomes Everything – And It Compounds Over Time

~ TTTPATCMANOATS ~ The Threats To Privacy And The Competitive Marketplace Are Now One And The Same

~ R-SWLRFTIPWGTS ~ Rent-Seekers With Little Regard For The Independent Producers Whose Goods They Sell

~ TOTDTI-BAT-TA ~ They Owe Their Dominance To Innovation – But Also To – Tax Avoidance

~ TASU-TF-TPHTTI-BTWLFE ~ They Aggressively Surveil Users – Thus Far – The Pubic Has Tolerated These Invasions – But That Won’t Last For Ever

~ H-ACTSC-ACBTT-EHTTAAFODL-AMPTPFIW ~ Hackers – Are Constantly Testing Security Cordons – And Constantly Bursting Through Them – Everybody Has Tolerated This As A Fact Of Digital Life – A Minor Price To Pay For Its Wonders

~ TBO-TIM-H-TWRSTIC-IMBAECOII-IMDOFS-OIMTAAE ~ The Big One – The Inevitable Mega-Hack – That Will Rumble Society To Its Core – It Might Be An Exposed Cache Of Intimate Information – It Might Disrupt Our Financial System – Or It Might Trigger And Actual Explosion

~ DPA ~ Data Protection Authority

~ TPITPTCOEOD-WAN-H-AC-AWCBCAWCBE-CSHTRTPDTSOS ~ The Point Isn’t To Prevent The Collection Or Exploitation Of Data – What Are Needed – However – Are Constraints – About What Can Be Collected And What Can Be Exploited – Citizens Should Have The Right To Purge Data That Sits On Servers

~ IA-B-I-R-WOE:C-NTCTSTT-SOTOD-TLSDTTCTTDWTGC-BIDBTT-PODIAHRTMCWEO ~ It’s A – Basic – Intuitive – Right – Worthy Of Enshrinement: Citizens – Not The Corporations That Stealthily Track Them – Should Own Their Own Data – The Law Should Demand That These Companies Treat This Data With The Greatest Care – Because It Doesn’t Belong To Them – Possessing Our Data Is A Heavy Responsibility That Must Come With Ethical Obligations

~ TIIA-BWSTI-AIIEOH-O-IEFOMS-EWTSANLTTFOIATFOD ~ The Internet Is Amazing – But We Shouldn’t Treat It – As If It Exists Outside History – Or – Is Exempt From Our Moral Structures – Especially When The Stakes Are Nothing Less Than The Fate Of Individuality And The Fitness Of Democracy

~ CATMAQOFHBASOSS-WRTQ-WCCF-B/E/J-ATSC? ~ Caring About The Morality And Quality Of Food Has Become A Symbol Of Social Status – Which Raises The Question – Why Can’t Concern For – Books / Essays /Journalism – Acquire The Same Cachet?

~ WMCAFA-TCNTDR ~ While Media Chase A Fake Audience – They Consciously Neglect Their Devoted Readers

~ STPEACVOABE-ETTRRSOR ~ Subscribers To Print Editions Are Considered Vestiges Of A Bygone Era – Even Though They Remain Reliable Sources Of Revenue

~ TTHATLMFTROA ~ The Time Has Arrived To Liberate Media From Their Reliance On Advertising

~ MNTSBTA-TRTTN-TRTLOCA-AMTWY-SE-A-SB ~ Media Need To Scale Back Their Ambitions – To Return To Their Niches – To Reclaim The Loyalty Of Core Audiences – A Move That Will Yield – Superior Editorial – And – Sustainable Businesses

~ TRT-MWNTCR-ARWNTP-CHNIPPFW-SLAPPAPTOT ~ To Rescue Themselves – Media Will Need To Charge Readers – And Readers Will Need To Pay – Consumers Have No Inherent Problem Paying For Words – So Long As Publishers Place A Price Tag On Them

~ TRRITSOP-WWRWOP-WRFT-N/P/AOU-SUAFOT-TPPU-FATIOD-TDFTMTTTOHC ~ Take Regular Refuge In The Sanctuary Of Paper – When We Read Words On Paper – We’re Removed From The – Notifications / Pings / And Other Urgencies – Summoning Us Away From Our Thoughts – The Page Permits Us – For A Time In Our Day – To Decouple From The Machine To Tend To Our Human Core

~ WHDOICMDA-CAE-TA-TTTL ~ We Have Deluded Ourselves Into Caring More Deeply About – Convenience And Efficiency – Than About – The Things That Last