Month: July 2023

The Bear’s Lair: What does a true innovation look like?

 The subject of Artificial Intelligence has filled the media for the last six months, with both optimistic and dire predictions of its gigantic effect on the world. Yet not all innovations are world-changing, however profitable they may be to their inventors, while some innovations – social media, for example — have changed social mores […]

The Bear’s Lair: The United States is no longer a role model

For decades after 1945, and especially after 1991, the United States was a role model for the world. Not only was its economy the world’s strongest and most prosperous, but its economic management, while falling short of true capitalism, represented an attainable model both for sluggish European nations and for fast-growing emerging markets. Its diplomats […]

The Bear’s Lair: The unwinding of capitalism

Passively invested funds now account for 45% of all assets of U.S. stock-based funds, up from 25% a decade ago, according to Bank of America Merrill Lynch. Indexed funds also account for 25% of bond funds. Between them, three large investment managers, BlackRock, Vanguard and State Street, manage over $20 trillion of assets and they […]

The Bear’s Lair: Over the cliff with student debts

Monthly Payments will resume on $1.8 trillion of U.S. student debt beginning in October, after a 3-year payment holiday for the Covid-19 pandemic. Since President Biden had been talking of more widespread debt relief (last week nixed by the Supreme Court) this will come as a nasty shock to 27 million ex-students, some of whom […]

The Bear’s Lair: Europe needs a populist revival

It is hard to find a defense of populism in conventional media. The steady slide away from solid property rights in Europe (including the United Kingdom) and the United States since 1990 has been generally applauded, and its opponents demonized. Yet an economy without property rights is being shown year by year to make citizens […]