The Scandal of Financial Nihilism
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The Scandal of Financial Nihilism
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Re: The Scandal of Financial Nihilism
#2Low-cost, globally diversified index tracker.
Re: The Scandal of Financial Nihilism
#3I love the Nintendo story. Would be hilarious if you could find the list. As someone with young kids I almost feel guilt tripped when I read articles about how once you say no to your child you have to stick with it or else your child will own you forever more and inevitably turn into a crackhead. Sometimes you just have to give in!
Re: The Scandal of Financial Nihilism
#4I love the Nintendo story. Would be hilarious if you could find the list. As someone with young kids I almost feel guilt tripped when I read articles about how once you say no to your child you have to stick with it or else your child will own you forever more and inevitably turn into a crackhead. Sometimes you just have to give in!
You have my attention re crackhead kids. Source?
Re: The Scandal of Financial Nihilism
#5This is a blog post that is trying to organise a thought and not quite managing it. There are too many threads and they aren't woven into something orderly or poetic.
There is an unfortunately high tolerance of obvious mistruths in politics and finance that could easily be mistaken for nihilism. But it isn't, it is usual lies by people who are powerful. Nothing new. Always been there. Now that the internet exists it is easier to see behind the curtain.
Re: The Scandal of Financial Nihilism
#6This entire blog post seems to be an exercise in self-projection, dressed up as philosophy? Assuming all retail investors are financial nihilists is absurdly reductionist.
I'm sorry you feel bad you tricked your dad into buying a NES.
Re: The Scandal of Financial Nihilism
#7This is a blog post that is trying to organise a thought and not quite managing it. There are too many threads and they aren't woven into something orderly or poetic. There is an unfortunately high tolerance of obvious mistruths in politics and finance that could easily be mistaken for nihilism. But it isn't, it is usual lies by people who are powerful. Nothing new. Always been there. Now that the internet exists it…
I think it's confusing cause and effect. Monetary policy that leads to cheap debt for the connected and inflation for the masses is driving this.
Re: The Scandal of Financial Nihilism
#8>My friend Demetri Kofinas has referred to financial nihilism as “a philosophy that treats the objects of speculation as though they were intrinsically worthless.” It is a philosophy that fully embraces the view that reality is completely subjective.
My point of view is that no one know if they are any meaning to the universe, let alone one that is grabbable by human limited cognitive abilities. So from this premises, "absolute" intrinsic value of any object is not accessible to us. Actually, we don’t even know with absolute certitude if the object of some speculation relate to anything denotable.
I do have faith that there is an absolute reality encompassing me, and that the few fallible representation I can build about it, can only be constructed through subjective experiences.
To my mind, finance is all about human conventions. They are far more strongly shaped by more or less common cultural phantasmagorias than by any intrinsic constrain of reality.
Re: The Scandal of Financial Nihilism
#9I love the Nintendo story. Would be hilarious if you could find the list. As someone with young kids I almost feel guilt tripped when I read articles about how once you say no to your child you have to stick with it or else your child will own you forever more and inevitably turn into a crackhead. Sometimes you just have to give in!
Changing your mind is okay. When I as a parent do, I give them an explanation why I did. Often children's requests aren't all that unreasonable. It also teaches them that people can be reasonable and are not just NPCs.
Re: The Scandal of Financial Nihilism
#10The WallStreet Bets, NFT and Crypto ecosystem is very niche. It's also very self-reinforcing because the internet made these people find their counterpart.
The reality for most people is still very much different. I'd say zero-interest rates and negative interest rates had more of an effect on people than crypto or risky stock bets. The system was kinda getting by until western politicians went over-board during the Pandemic and started printing money like crazy because MMT and also the elite convinced them that they had enough productive capacity; so the money will not trigger inflation but trigger this productive capacity...
We know how that turned out, and now the Fed/Politicians are turning to the reality of inflation. Inflation is real, and inflation is consequence to your actions. Financial nihilism (at large) is very short-lived. Reality will catch up to you. It doesn't mean it doesn't exist (elsewhere). Many nihilistic countries are having their currencies blow up even before the pandemic and more so now.