"When you consider that the computer had to factor in airspeed, altitude, the angle-of-attack, pitching, a rolling flight deck, not to mention the changing winds and seas, this was a historic landing for the Navy and maybe equally so for robots and artificial intelligence."
- Three terrorist attacks on US soil;
- Involvement in 27 wars, military campaigns or conflicts;
- Five Republican presidents;
- Three Democratic presidents;
- Six recessions;
- Six worldwide currency / financial system collapses or bailouts;
- 20 major public company bankruptcies (since 1980);
- 35 notable natural disasters;
- Oil prices that have ranged from $145 (2008) to $10 (1999);
- Headline unemployment that has ranged from 3.8% (2000) to 10.8% (1982);
- 30 year mortgages that have ranged from 18.6% (1981) to 3.3% (2012).
- US stocks 11.5%
- Long term US Treasury bonds 8.8%
- Commercial real estate 7.2%
- International stocks 7.4%
- Gold 6.2%
- Oil 5.7%
- US Treasury bills 5.3%
- Inflation 3.8%
- Commodities 2.3%
"Due to structural over-indebtedness and the resulting addiction to low / negative real interest rates, we are certain that the traditional way of thinking about financial markets and asset management is no longer beneficial for investors."Financial markets have become highly dependent on central bank policies. Grasping the consequences of the interplay between monetary inflation and deflation is crucial for prudent investors."
"The legal and philosophic aspects of obedience are of enormous importance, but they say very little about how most people behave in concrete situations. I set up a simple experiment at Yale University to test how much pain an ordinary citizen would inflict on another person simply because he was ordered to by an experimental scientist."Stark authority was pitted against the subjects' strongest moral imperatives against hurting others, and, with the subjects' ears ringing with the screams of the victims, authority won more often than not. The extreme willingness of adults to go to almost any lengths on the command of an authority constitutes the chief finding of the study and the fact most urgently demanding explanation."Ordinary people, simply doing their jobs, and without any particular hostility on their part, can become agents in a terrible destructive process. Moreover, even when the destructive effects of their work become patently clear, and they are asked to carry out actions incompatible with fundamental standards of morality, relatively few people have the resources needed to resist authority."
"Bonds have had their own first down year in 14 years DESPITE the world's major central banks having supplemented the natural forces of supply and demand to the tune of a combined $4.7 trillion over the past five years and around $1.5 trillion this year alone, and that's not as newsworthy as the decline of gold?"