Cassandra Is Sooooooo Correct

Nihon Cassandra is more of a stock market investor than macroeconomics type. In other words, she isn't really into bonds. In her own charming words,

So long as my distribution is skewed-right, and the tail not overly kurtotic, I am sanguine.

Recently, Cassandra excoriated herself for failing to predict our current global macroeconomic malaise, specifically, the odd lack of self-preserving behavior by those who have the most to lose. I think she is being unnecessarily harsh, as she understands far better than many others do, even now.

It was a close call. From September 2007 through 2010, the masters of financialization escaped ruin by the skin of their teeth. Saving the system, at public risk and expense, was useful to asset holders, e.g. the AIG crowd, Goldman Sachs and friends, Stevie Cohen, Walmart family scions, Icahn, Einhorn, Pritzkers, Koch brothers, Larry Ellison, Larry and Sergei Google, Mark Z, Jeff Bezos, Bill and Melinda, other much less publicly known owners of nation-sized yet privately owned wealth.

If he were a spy

I looked for answers on Quora, a question-and-answer website.

Is Jacob Appelbaum a U.S. government employee?

He gets a huge salary from the Tor Project but mostly jets around the world, more lavishly than celebrities and movie stars. His home is chic, minimalist but opulent according to Rolling Stone. He posed with semi-automatic firearms in Iraq in 2008. He parties ALL the time, based on his flickr photographs. [These photos are no longer visible other than to logged-in flickr users with adult content viewing enabled. I embedded a few as part of my question on the Quora website and question comments.]

Martin Strohmeier

The question doesn't really seem to follow from the details, Ellie?

Ellie Kesselman

Granted, but maybe this will help to explain. Tor is a former US government project. Jacob works, or worked for Tor. I was trying to avoid asking directly whether Jacob were a spy. That would be indiscreet, so I said "US government employee" instead.

Jacob has more fans and cart blanche globally than, well, I don't even know who to compare with him. He is like the Larry Ellison or Eric Schmidt of crypto fandom, but without any visible means of support. I don't see his name on the cryptography research server IACR as an author, nor any ACM nor IEEE scholarly journals, not even the Financial Cryptography conference.

ioerror is, well, to make an analogy, like the subversive version of Google's Jared Cohen. ioerror is the cool kids' hero, so to speak.

Message of the market

Joe Saluzzi tried to get the word out. He really did make a good faith effort. This was one of his numerous appearances on Bloomberg, Fox Business News, CBS etc. The mainstream news media did not ignore him. He was interviewed for about 10 minutes in each station's Manhattan studio. Each appearance was broadcast live. Receiving that much air time is unusual.

The Cleveland Fed Drawing Board goes silent

I find Cleveland to be the most friendly of the 12 Federal Reserve districts. They do a lot of community outreach work, and have a good research department.

Thank you! :-) RT @EllieAsksWhy: Contrast @gapingvoid w/hand-drawn, all-original artwork by @ClevelandFed http://youtu.be/hWdm9pp6NQU

— ClevelandFed (@ClevelandFed) June 6, 2011

    Evidence of friendly Cleveland Fed!

The Federal Reserve Bank of Cleveland is the headquarters of the U.S. Federal Reserve System's Fourth District. The district is composed of Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.

Main office in downtown Cleveland since 1923

The Cleveland Fed building was designed by architects Walker & Weeks. The building is considered an historically significant piece of architecture. I like how it looks too. Apparently, few know much about the art and architecture of the building, not even in Cleveland!