Navigating the absurdity of late-stage capitalism. Read my latest musings via concoda.substack.com. Definitely not investment advice.

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It’s been 300 years, still, the game hasn’t changed

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Credit: Westminster Abbey

Many consider Alexander Pope to be one of the greatest poets of all time. But he also happened to grow up in the early 1700s during the earliest period of financial speculation. The Dutch had floated the first stock market, and brokers — known in those days as “stockjobbers” — handled transactions of many popular historical figures such as Richard Cantillon and Isaac Newton.

It was exactly a century after the Tulip Bubble that Pope got to experience and document the South Sea Bubble, the first speculative mania in the history of stock markets. …


The award for best gaslighter goes to the central bankers

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Credit: Georgy Petaykin

Calling the top of the longest business cycle has become the ultimate widow maker trade of the 21st-century. It’s like every year offers an array of bizarre market-topping signals that prove to be false omens. In hindsight and comparison, predicting the last cycle peak was easy. All former Federal Reserve Chairman, Ben Bernanke, had to do was utter those famous words “subprime contained,” financial turmoil ensued, and the top was in.

This time, however, calling the top has become an impossible task. We’ve overcome every obstacle even passing the ultimate test of enduring Mother Nature. 2020 started with the Aussie bushfires, then we lost Kobe, then we had the obvious elephant in the room. …


This is what happens when you abandon sound money and pair it with desperation

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Photo by Austin Distel on Unsplash

It’s 8 pm. After a tough time at work, all you want to do is sit down, relax, and open YouTube. You bring up that video you've been dying to watch all day. But what’s this? Before you can dive in, 20-year-old guru Tristan interrupts you with an infomercial. It looks like he’s doing well for himself. He’s got the Maserati, the private jet, and the Russian model girlfriend — surely not hired for the day.

“Why on earth are you still working that 9-to-5 when you could be sitting in your Pyjamas, selling crap on autopilot?”, he says. While you have been arguing with your manager on endless Zoom calls, he’s been generating leads, he’s been making millions selling knockoff watches on Amazon, he’s had his trading bots scalping millions from the Forex markets. …

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