~ T-2007-2008-C-WTCO-ALRBS-IWPWCITHOTLACOS-STC-CB-HPMI-PB-TA-UMPPC-QE(QE) ~ The – 2007-2008 – Crisis – Was The Consequence Of – A Loosely Regulated Banking System – In Which Power Was Concentrated In The Hands Of Too Limited A Cast Of Speculators – Since The Crisis – Central Banks – Have Pumped Money Into – Private Banks – Through An– Unconventional Monetary Policy Process Called – Quantitative Easing (QE)

~ QE-IAOCTTEA-CB-MEM-AT-IIBAFM-IRFPBOS(OS)-A’CM’S ~ QE – Is An Overtly Complex Term That Entails A – Central Bank – Manufacturing Electronic Money – And Then Injecting It Into Banks And Financial Markets – In Return For Purchasing Bonds Or Securities (Or Stocks) – A “Conjured-Money” Scheme

~ B-TLOGUTSO-ATW-TS-A-LR-GTTCAITEIRP-U-TBSBACTTC-CTA-A-PFTTCTBT-AAO ~ Banks – The Larger Ones Gobbled Up The Smaller Ones – Along The Way – Their Size – And – Loose Regulations – Gave Them The Confidence And Impetus To Engage In Riskier Practices – Ultimately – They Became So Big And Complex That They Could – Create Toxic Assets – And – Provide Financing To Their Customers To Buy Them – All At Once

~ TGSFTM-T-DQES-CBL-PTNTTW-HTGE-TCHBFFTT-TW-NDC-NL-NR-TD-T-CM-I-HRP-PBWUNOTDAWTCMTDWTD ~ To Garner Support For Their Multi-Trillion-Dollar Qe Strategies – Central Bank Leaders – Peddled The Notion That They Were – Helping The General Economy – That Couldn’t Have Been Further From The Truth – There Was – No Direct Channel – No Law – No Requirement – To Divert – The – Cheap Money – Into – Helping Real People – Private Banks Were Under No Obligation To Do Anything With This Cheap Money They Didn’t Want To Do

~ TDW-HASROSMCC-ITWCBSMI-ICGIS-A-ANCE ~ The Danger With – Having A System Rely On So Much Conjured Capital – Is That When Central Bankers Stop Manifesting It – It Could Go Into Shock – And – A New Crisis Emerge

~ T-GFSE-MUISL-TTEOCATTAMM ~ The – Global Financial System Elites – Meet Up In Swanky Locations – They Take Each Other’s Calls And Tend To Avoid Mere Mortals

~ CBANEBV-YTPAG-TPPUTAO-SP-AFE-A-M(ASALO)I ~ Central Bankers Are Not Elected By Voters – Yet They Play At Government – They Promote PolicIes Under The Auspices Of – Stabilizing Prices – Achieving Full Employment – And – Maintaining (A Somewhat Arbitrary Level Of) Inflation

~ POTU ~ Power Of The Unelected

~ TINEALGOT-QMA ~ There Is Nothing Easy About Letting Go Of The – Quantitative Money Addiction

~ EOADOAMADIABNRAEOFS-EIIBMTHH-ITF-OETP-O-CMWTS-MROIWT ~ Existing On A Diet Of Artificial Money And Demand Is Anything But Normal For An Economic Or Financial System – Even If It Boosts Markets To Historic Highs – If The Flow – Or Even The Possibility – Of – Conjured Money Was To Stop – Markets Relying On It Would Tank

~ ABPOTFCACBCWTRIEATSASTN ~ Another By-Product Of The Financial Crisis And Central Bank Collusion Was The Rise In Economic Anxiety That Spawned A Swing Toward Nationalism

~ BCBOBPSAGO-TAOOCOTETA-TVBTCFWTDAPRITWEARSITWOCFTRFTP ~ Because Central Banks Operate Beyond Public Scrutiny And Government Oversight – They Are Only Occasionally Called On To Explain Their Actions – They Vacillate Between Taking Credit For What They Deem Are Positive Results In The World Economy And Remaining Silent In The Wake Of Catastrophic Failures That Result From Their Policies

~ WNADR-WADOORP-WAHFAECC ~ We Need A Debt Reset – Without A Debt Overhaul Or Relief Program – We Are Headed For Another Epic Credit Crisis

~ IO-FSBATHOTBPB-CB-SFLIARP ~ Instead Of – Financing Speculative Bubbles At The Hands Of The Big Private Banks – Central Banks – Should Finance Large Investment And Recovery Programs

~ WS-BUTB-STTCHPDHDTNC-IOTODTFTWTAO ~ We Should – Break Up The Banks – So That They Can’t Hold People’s Deposits Hostage During The Next Crisis – It Only Takes One Domino To Fall To Wipe Them All Out

~ I-TIFC-TCWNBB ~ In – The Inevitable Financial Crash – These Conjurers Will Not Be Blamed

~ T-WE-R-I-AOGTTCB-AFDFS-AHFP ~ The – World Economy – Remains – Imperilled – An Opportunistic Game To The Central Banks – A Field Day For Speculators – A Hazard For Populations


~ C-TO-SI ~ Cooperation – Triumphs Over – Self-Interest

~ WNNB-RSTTGL-AGBTIHOTM-O-POTCHOF-TSTCW-IHOT-TSOL-ICTA-TP ~ We Need Not Be – Robotic Slaves To The Government’s Leviathan – Automations Guided By The Invisible Hand Of The Market – Or – Parts Of The Collectivist Hive Of Fascism – To Serve The Common Weal – In Honor Of Tux – The Symbol Of Linux – I’ll Call This Alternative – The Penguin

~ INTCCSDBTL-N-TIHOTFMCEGS-WSWT? ~ If Neither The Command-Control Systems Dictated By The Leviathan – Nor – The Invisible Hand Of The Free Market Can Effectively Govern Society – Where Shall We Turn?

~ EWBNTUQOTSS-A-WBTTOHBITO-AM-P-R-T-PAE ~ Economics Was By Now The Unquestioned Queen Of The Social Sciences – And – We Began To Think Of Human Behavior In Terms Of – Almost Mechanical – Predictable – Responses – To – Punishments And Incentives

~ PAIFMC-TMEAOPA-TIJT-DOFSHICS-OMSAETEIBO ~ People Are In Fact More Cooperative – Than Most Economists And Others Previously Assumed – This Isn’t Just Theory – Dozens Of Field Studies Have Identified Cooperative Systems – Often More Stable And Effective Than Equivalent Incentive-Based Ones

~ UCOCASTMUIE ~ Using Control Of Carrots And Sticks To Motivate Us Isn’t Effective

~ ORTTMOUSPITIINWW-OMS ~ One Reason That The Myth Of Universal Selfishness Persists Is That It Is Not Wholly Wrong – Only Mostly So

~ Y-SBAS-B-FASAOTT-ASOUDNAOOSI ~ Yes – Some People Are Selfish – But – Few Are Selfish All Of The Time – And Some Of Us Do Not Act Out Of Self-Interest

~ HBTTSO-N-S-E-THUMSOOCACW ~ Human Beings Tend To Seek Out – Neat – Simple – Explanations – To Help Us Make Sense Of Our Confusing And Complex World

~ ATGHNBEASTTITOUS-OWGITHOTOOAOBIAGW-WTTIATEWEACSIFWOPAA-BDSB-AEO ~ Almost Two Generations Have Now Been Educated And Socialized To Think In Terms Of Universal Selfishness – Once We Get In The Habit Of Thinking Of Ourselves And Our Behavior In A Given Way – We Tend To Interpret All The Evidence We Encounter And Collect So It Fits With Our Preconceptions And Assumptions – By Discarding Some Bits – And Emphasizing Others

~ WASB-WPSAB-WAEBJAM-INM-TWARB ~ We Are Social Beings – We Perform Selfless Acts Because – We Are Emotional Beings Just As Much – If Not More – Than We Are Rational Beings

~ ONADAFMCAVTTSDTMPAG-UR-TFHBLIOOP ~ Our Needs And Desires Are Far More Complex And Varied Than The Simple Desire To Maximize Pleasure And Gain – Until Recently – These Findings Have Been Largely Ignored Outside Of Psychology

~ F-OCFWI-RAF-ODTBSFBOPASBTASG-AFBTGTRD ~ Finally – Our Concern For What Is – Right And Fair – Our Desire To Be Seen Favorably By Our Peers And So Belong To A Social Group – Are Finally Beginning To Get Their Rightful Due

~ TPOCINSSUD-IIGISOTBWAMRRIBS ~ The Promise Of Cooperation Is Not Some Silly Utopian Dream – It Is Grounded In Some Of The Best Work And Most Rigorous Research In Behavioural Science

~ SORAP-S-TIASRFSITGABBSATEOTWC ~ Systems Of Reciprocity Aren’t Perfect – So – There Is Always Some Room For Some Individuals To Get Ahead By Being Selfish At The Expense Of Those Who Cooperate

~ AWMADTA-WHTFITSWI-EEHGAT-TFE-PWMDDDOHASIP ~ Anytime We Make A Decision To Act – We Have To First Interpret The Situation We’re In – Even Economists Have Grudgingly Admitted This – The Framing Effect – People Will Make Different Decision Depending On How A Situation Is Presented

~ SC-R-A-SC ~ Social Capital – Reputation – And – Social Contagion

~ SRHTOC ~ Social Relations Have Their Own Currency

~ MESTOBIASIGIBTBWOIPAU-EIWCUOTI ~ Much Evidence Suggests That Our Behavior In Any Situation Is Greatly Influenced By The Behavior We’ve Observed In People Around Us – Even If We’re Completely Unaware Of That Influence

~ WSTBWTNO-FPAADAPASI ~ We Seem To Be Wired To Need Others – Few Punishments Are As Debilitating And Painful As Social Isolation

~ WASBNLTWAI-STLUBBWBTSTSUAJOOTO ~ We Are Social Beings No Less Than We Are Individuals – Systems That Let Us Be – Work Better Than Systems That See Us As Just One Or The Other

~ E-NM-WWOOPDS-TNIOBFIATESPAWWADTSAO-OBMNOPOMM-BPEAW ~ Empathy – Neuron Mirroring – When We Observe Other People Doing Something – The Neurons In Our Brains Fire In Almost The Exact Same Patterns As When We Are Doing Those Same Acts Ourselves – Our Brains Mirror Not Only Pain Or Motor Movements – But Pure Emotions As Well

~ WVQAS-SPIG-‘LU’&‘NLU’~ We Very Quickly And Subconsciously Sort People Into Groups – “Like Us” And “Not Like Us”

~ IMC-TSATCACWO-IE-TGPTATFACG-WTGMB ~ In Many Cases – The Simple Ability To Communicate And Coordinate With Others – Is Enough – To – Get People To Act Together For A Common Goal – Whatever That Goal Might Be

~ TIETSTWCEMATPTTAOOAS ~ There Is Evidence To Suggest That We Care Even More About The Process Than The Actual Outcome Of A Situation

~ ODFF-AIIUIACC-IACCOHMAB-IIIO-S-I-E-O-S-WHABNODTBTF-A-TBPISTTUF ~ Our Desire For Fairness – As It Is Understood In A Cultural Context – Is A Critical Component Of Human Motivation And Behavior – It Is Independent Of – Self-Interest – Empathy – Or – Solidarity – We Have A Basic Need Or Desire To Be Treated Fairly – And – To Be Participants In Systems That Treat Us Fairly

~ IWWTBASTMPTWW-OCE-INETOTSRAI-WANTTAHFTSI ~ If We Want To Build A System That Motivates People To Work Well – Or Cooperate Effectively – It’s Not Enough To Offer Them Simple Rewards And Incentives – We Also Need To Think About How Fair The System Is

~ FI-A-P-I-P-O-MSWW-A-FMPFWACWT ~ Fairness Is – A – Practical – Integral – Part – Of – Making Systems Work Well – And – Of Making People Function Well And Cooperatively Within Them

~ PAAQGA-SU-E-A-SR-FA-TASOMAUAECN ~ People Are Actually Quite Good At – Setting Up – Enforcing – And – Self-Regulating – Fair Arrangements – Through A Set Of Mutually Agreed Upon And Enforced Community Norms

~ NPOV ~ Neutral Point Of View

~ TIEETST-WICTC-PMP-TBBAECS-WITBLOCTS ~ There Is Enough Evidence To Suspect That – When It Comes To Cooperation – Practice Makes Perfect – That By Building And Engaging Cooperative Systems – We Increase The Baseline Level Of Cooperation Throughout Society

~ TSOFAOSSBENE ~ The Success Of Free And Open-Source Software Baffles Economist No End

~ COE-OW-TOOMR-E-CWAPEAAI-O-IWAPSOAAC ~ Crowding-Out Effects – Occur When – The Offer Of Material Rewards – Either – Clash With A Person’s Expectation About An Interaction – Or – Interferes With A Person’s Sense Of Autonomy And Control

~ AM-AROAP-CARTTPOOM-A-SUOTPOC ~ Adding Money – As Reward Or As Punishment – Can Actually Redirect The Total Pull Of Our Motivations – And – Steer Us Off The Path Of Cooperation

~ NIMIIACSTCATP-WPAATC-TA-ME-MT-A-CRSMRTWTCTTOA ~ Nothing Is More Important In A Cooperative System Than Communication Among The Participants – When People Are Able To Communicate – They Are – More Empathetic – More Trusting – And – Can Reach Solutions More Readily Than When They Cannot Talk To One Another

~ VANAA-FINSYATATPDAHTIEOIOPHBM-FIITEHC-FSAPS ~ Values Are Not An Afterthought – Fairness Is Not Something You Attend To After The Practical Decisions About How To Improve Efficiency Or Innovation Or Productivity Have Been Made – Fairness Is Integral To Effective Human Cooperation – Fair Systems Are Productive Systems

~ CHU-LTR-BDAI ~ Cooperation Hinges Upon – Long-Term Reciprocity – Both Direct And Indirect

~ STHODMANJMPBAMCWHE ~ Systems That Harness Our Diverse Motivations Are Not Just More Productive But Also More Consistent With Human Experience


~ YHAU-A/S/C-TWAYTSTNBTAE ~ You Have A Unique – Approach / Skill / Capability – That Will Allow You To Serve This Need Better Than Anyone Else

~ YH-T-C-R-A-S-FGTBLIATM ~ You Have – The – Capacity – Resources – And – Support – For Getting The Business Launched In A Timely Manner

~ UHCAAIWYPVBCPP ~ You Have Chosen An Area In Which You Provide Value Beyond Cheap Production Price

~ YTMNOIIIWYHTO-B-HTMTPFWYAS ~ Your Target Market Not Only Is Interested In What You Have To Offer – But – Has The Money To Pay For What You Are Selling

~ YCAPAIGBAI ~ You Create A Prototype And It Generates Buzz And Interest

~ YHAFGOTFMOYB ~ You Have A Firm Grasp Of The Financial Metrics Of Your Business

~ IYROTBYB-YHANOSACPWWLTWWY ~ If You Require Others To Build Your Business – You Have A Network Of Smart And Capable People Who Would Like To Work With You

~ YWAAAFAYBI-A-UITCIYPOS ~ You Welcome Any And All Feedback About Your Business Idea – And – Use It To Continually Improve Your Product Or Service


~ YFTIAMBOHAAFC-O-DIYG-YANSTIAGI-B-YATPTAI ~ You Feel There Is A Market Based On Hunches And A Few Conversation – Or – Deep In Your Gut – You Are Not Sure This Is A Good Idea – But – You Are Too Proud To Admit It

~ WYDTIWPWWBTTMFYPOS-TAEOBAES-O-AD-AS-‘TITWBIIHEH’ ~ When You Discuss The Idea With People Who Would Be The Target Market For Your Product Or Service – They Are Either Overcome By An Embarrassing Silence – Or – Are Direct – And Say – “That Is The Worst Business Idea I Have Ever Heard”

~ WSCYI-YGVDAICTS-T-‘TOANSETGMBI’ ~ When Someone Challenges Your Idea – You Get Very Defensive And Immediately Change The Subject – Thinking – “They Obviously Are Not Smart Enough To Get My Brilliant Idea”

~ YS-H/W/M/SY-WOTI-WEBIIFOEAPIOC ~ You Spend – Hours / Weeks / Months / Sometime Years – Working On The Idea – Without Ever Bringing It In Front Of Either A Potential Investor Or Customer

~ YAUTDTTNTPOSMFITEOYC ~ You Are Unable To Describe The True Need This Product Or Service Might Fill In The Eyes Of Your Customer

~ YHNUAVLTB-A-YDSYWPWH ~ You Have Never Undertaken A Venture Like This Before – And – You Don’t Surround Yourself With People Who Have

~ YPNIVL-A-YDTAYMHWWITPWBWTJYIYV ~ Your Personal Network Is Very Limited – And – You Don’t Think Anyone You May Have Worked With In The Past Would Be Willing To Join You In Your Venture

~ YVYVA-‘AON’-A-WOCLOBI-ROFFO ~ You View Your Venture As – “All Or Nothing” – And – Will Only Consider Launching One Business Idea – Regardless Of Feedback From Others


~ WAI-WIMB-M ~ Who Am I – What Is My Brand – Me

~ WI-M-P/P/P-M-M ~ What Is – My – Promise / Personality / Positioning – Me – Me

~ WDIWTS-HSISI-M-M-M ~ What Do I Want To Say – How Should I Say It – Me – Me – Me

~ IOICGTDR-IOICDME-M-M-M-M ~ If Only I Can Get The Details Right – If Only I Can Discover My Essence – Me – Me – Me – Me

~ B!-TFOBI ~ Bam! – The Flash Of Brand Insight

~ IWWTA-T ~ I Wonder Who They Are – Them

~ IWWTD-T-T ~ I Wonder What They’re Doing – Them – Them

~ IWHTF-T-T-T ~ I Wonder How They’re Feeling – Them – Them – Them

~ IWHICMLBFTAMTFBAT-T-T-T-T ~ I Wonder How I Can Make Life Better For Them And Make Them Feel Better About Themselves – Them – Them – Them – Them


~ FWTYAPATT-BU-TK-S-A-E-TBTGATW-I-ALOILAS ~ Finding Work That You Are Passionate About Takes Time – Building Up – The Knowledge – Skill – And – Experience – To Be Truly Great At This Work – Is – A Labor Of Intense Love And Sweat

~ CABOOTW-A-B-I/C/F/A/M-RP ~ Creating A Business Out Of This Work – And – Building – Infrastructure / Customers / Fans / Advocates / Mentors – Requires Patience

~ HYJIINABP ~ Hating Your Job Intensely Is Not A Business Plan

~ BATE:CAPOYIL-DALTWMYH ~ Begin At The End: Create A Picture Of Your Ideal Life – Design A Life That Will Make You Happy

~ FABNITIH-IASI ~ Find A Business Needle In The Idea Haystack – Identify A Specific Idea

~ FOTM-MSYHTFWTSCE ~ Figure Out The Money – Make Sure You Have The Financial Wherewithal To Seriously Consider Entrepreneurship

~ DTSOYB-LHTSOFTC ~ Define The Spirit Of Your Brand – Learn How To Stand Out From The Crowd

~ RYT-ITPWWSGAPWY ~ Recruit Your Tribe – Identify The People Who Will – Support – Guide – And – Partner – With – You

~ TAP-FOIYAHABWQYJF ~ Test And Prototype – Find Out If You Actually Have A Business Worth Quitting Your Job For

~ PTL-ON-MAD ~ Prepare To Leap – Or Not – Make A Decision

~ SBD-‘TT’-TPWTYMF ~ Start By Defining – “The Thing” – That People Will Trade You Money For

~ IYWTBS-YMCA-C-A-A-SB-TWDYICTYLFTH ~ If You Want To Be Successful – You Must Create A – Compelling – Authentic – And – Sticky Brand – That Will Draw Your Ideal Customers To You Like Flies To Honey

~ YCSIRWPYAS ~ Your Customers Should Immediately Recognize What Problem You Are Solving

~ DYICIAACPOCYBP ~ Defining Your Ideal Customers Is An Absolutely Critical Part Of Creating Your Business Plan

~ TBGTYCGYBSYB-ITU-YO-T-F-A-B-AM-SYCCAUBTWGITWORAEB ~ The Biggest Gift That You Can Give Yourself Before Starting Your Business – Is To – Understand Your Own – Thoughts – Feelings – And – Beliefs – About Money – So You Can Change Any Unhealthy Behaviors That Will Get In The Way Of Running An Effective Business