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Actually you did say "Also, on a general note I think it's a mistake that we always look to the past and try to make sense of the present/future in light of that. The world today is different than the one in 2000 or other times in history." but I think we're in agreement now. Again, in response...

OK. That really has nothing to do with the common tendency of those who haven't much experienced history tending to incorrectly dismiss the value of studying history. In every bubble the people inside the bubble, without the benefit of hindsight, can point to something unprecedented occurring at...

On a general note, I think it's a mistake that those who haven't experienced much history make to declare "the world is different" to dismiss anything that could be learned from history. Funny thing is, "the world is different" justification was used extensively to justify the then current state...

And remember what happened to dot com. It's inevitable that something similar will happen in crypto as well, the challenge is just that the market can remain irrational longer than we can remain solvent, as Keynes allegedly said.

So the SPAC sponsor usually keeps a 20%+ stake in the SPAC as their fee, plus they often have warrants or other options that allow them to dilute it further. This is effectively the same as the fee the IB is charging, once you look at what the selling company ends up with at the end of the...

Exactly. Perhaps the whole narrative that people were quitting because they were living off the gravy train was never true?

So homes aren't a commodity, so that's not really an apt comparison. I was thinking you do 1 minute auctions for liquid stocks and maybe 5 minutes for less liquid. Plenty liquid for anyone not an HFT, but gives you enough time for enough supply and demand to build up to actually have a curve.

Wait a minute, I thought we were all going to be beyond the tyranny of "fiat" currency and using crypto in no time. And BTC is deflating rapidly, heck, enough BTC to buy you a loaf of bread last year will buy you 4 loaves today. Except for that time in the spring when enough BTC to buy you a...

I think that's actually a great idea. In many cases it would also obviate the need for MMs, which would take a whole layer out of the market. I wonder if you set up an exchange that worked this way if it could coexist with the existing marketplace or if it would have to be the only way a product...

It's been dead for weeks and he knows it. He's just an immature toddler throwing a tantrum at this point.

Sure. For what it's worth I find you to be both an interesting poster and someone who can disagree without being disagreeable, so I certainly am not trying to annoy you and apologize if I did.

The only way you accomplish that is nationalizing the franking and power generation businesses. See Mexico for a recent example of how that works out in this sector.

Of course you didn't care about profit because it was guaranteed! Not only that, monopoly utilities make more money the more money they spend, 10% of a $1.5B base is 50% more than 10% of a $1B base, so they are literally incentivized to spend as much ratepayer money as possible with the utility...

A free market where power producers compete to produce power at the cheapest cost is better than a monopoly? You know there isn't a merchant power producer out there getting the 8-12% guaranteed returns a monopoly utility gets, right? So the monopoly is soaking ratepayers, the competitive market...

Well they were happy that the power went out, I don't think they were happy to be paying billions unnecessarily to a monopoly to get guaranteed 10% returns on their investment. Power is significantly cheaper in a deregulated market over the course of a year even with a couple if days of high...

It was vertically integrated, all generation was owned by the regulated monopoly electric companies for their service territories. There wasn't a market since it was a monopoly, so there weren't spot market prices.

That sounds awful, one wonders why you wouldn't have take advantage of the ability to live and work anywhere in the EU if it was all bad as you describe?

Yeah, I have worked extensively in energy spot markets although admittedly not gas. Spot markets without a forward or futures market can be incredibly volatile because just a small imbalance in supply or demand at a given time swings the entire market. With futures most of the market is locked...

It's funny you keep protesting that your ideas aren't based on race.....despite the fact I never brought up race at all! The lady doth protest too much, methinks. It's crazy that you would incorrectly accuse someone of not reading your post before responding, then proceed to respond without...

Interesting you would accuse me of not reading your entire post. A post where you repeatedly attributed a whole litany of things to me that I never posted anywhere that I supported. That hypocrisy thing rears it's ugly head again, doesn't it? It's funny, I have spent some time among the same...