All this focus on the debt ceiling instead of the future fiscal issue is like sitting on the beach at Santa Monica worrying about whether a 30-foot wave will damage the pier when you know there’s a 200-foot tsunami just 10 miles out.     -Stan Druckenmiller, via Bloomberg, 5/2/23 A goat rodeo is a slang term for something going totally, unbelievably, disastrously wrong, and there’s nothing left to do but to sit back and watch the trainwreck.     -Dictionary.com

Blockbuster didn’t see the rate of technology advancement and consequently failed to see a world where digital delivery was instantaneous and free (or almost free) – a world where consumers wouldn’t walk in its doors and plonk down $2-3 to borrow a video.  It seems easy to see now, but at the time that executives were making these decisions, download speeds made streaming impossible and NFLX relied on the physical delivery of DVDs.  Unable to

There is a story that has been going around about a physicist, a chemist, and an economist who were stranded on a desert island with no implements and a can of food. The physicist and the chemist each devised an ingenious mechanism for getting the can open; the economist merely said, “Assume we have a can opener”!     -“Economics as a Science”, Kenneth Boulding, Jr., 1970 In Central Bank circles, it’s well known that the world