Aaron

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A Random Walk Dow...
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Sep 17, 2019 04:15AM

 
Accounting All-in...
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Feb 03, 2019 11:49PM

 
In Fed We Trust: ...
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  (page 5 of 336)
"That meant that firms could not sell their assets to meet their operation expenses without taking huge and unnecessary losses: essentially this meant that even solvent firms had the real possibility of declining bankruptcy." Jan 21, 2019 12:08PM

 
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David Simon
“That's the myth of it, the required lie that allows us to render our judgments. Parasites, criminals, dope fiends, dope peddlers, whores--when we can ride past them at Fayette and Monroe, car doors locked, our field of vision cautiously restricted to the road ahead, then the long journey into darkness is underway. Pale-skinned hillbillies and hard-faced yos, toothless white trash and gold-front gangsters--when we can glide on and feel only fear, we're well on the way. And if, after a time, we can glimpse the spectacle of the corner and manage nothing beyond loathing and contempt, then we've arrived at last at that naked place where a man finally sees the sense in stretching razor wire and building barracks and directing cattle cars into the compound.

It's a reckoning of another kind, perhaps, and one that becomes a possibility only through the arrogance and certainty that so easily accompanies a well-planned and well-tended life. We know ourselves, we believe in ourselves; from what we value most, we grant ourselves the illusion that it's not chance in circumstance, that opportunity itself isn't the defining issue. We want the high ground; we want our own worth to be acknowledged. Morality, intelligence, values--we want those things measured and counted. We want it to be about Us.

Yes, if we were down there, if we were the damned of the American cities, we would not fail. We would rise above the corner. And when we tell ourselves such things, we unthinkably assume that we would be consigned to places like Fayette Street fully equipped, with all the graces and disciplines, talents and training that we now posses. Our parents would still be our parents, our teachers still our teachers, our broker still our broker. Amid the stench of so much defeat and despair, we would kick fate in the teeth and claim our deserved victory. We would escape to live the life we were supposed to live, the life we are living now. We would be saved, and as it always is in matters of salvation, we know this as a matter of perfect, pristine faith.

Why? The truth is plain:

We were not born to be niggers.”
David Simon, The Corner: A Year in the Life of an Inner-City Neighborhood

John Maynard Keynes
“Markets can remain irrational longer than you can remain solvent.”
John Maynard Keynes

John Maynard Keynes
“The businessman is only tolerable so long as his gains can be held to bear some relation to what, roughly and in some sense, his activities have contributed to society.”
John Maynard Keynes

John Maynard Keynes
“The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.”
John Maynard Keynes

John Maynard Keynes
“When the final result is expected to be a compromise, it is often prudent to start from an extreme position.”
John Maynard Keynes, The Economic Consequences of the Peace

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