Monthly Archives: December 2010

On Gambling / Risk-taking

Everything is gambling if one of the following conditions exist: a) You don’t understand the game b) You’re not smart enough to play the game or c) You have a losing expectancy of success when you calculate your weighted probability of success vs. failure. by

Governments Won’t Stop Drinking Until Livers are Transplanted

It seems like a collective group o f people, under a democratically elected government, are incapable of stopping their drunken debt demise until they get a liver transparent (eg. debt-restructuring or bailout). How do we stop this?  MORE REGULATION. MORE LEGISLATION. We need legislation that makes it illegal to run a deficit. No excuses. There… Read More »

The Logic of Socialism (or Lack Thereof)

If person A is offered $1 FREE and person B is offered $5 FREE and person A refuses due to unfairness, person A is exhibiting the poor logic of a socialist and some liberals. Socialists think (or maybe their problem is that they don’t think enough) it’s better to have everyone enjoy a worse quality… Read More »

Risk-Centric Labor Market, Incentives, and Public vs. Private Sector

I believe the propensity to take risks is one of the greatest determinants of someone’s career choice. Being able to manage risk well is not a skill too many people have. This is one of the reasons why debt is so prevalent.   People aren’t managing risk appropriately or simply “kicking the can down the road.”… Read More »