Dave Collum – The Burning Platform

Dave Collum’s 2023 Year in Review: Down Some Dark Rabbit Holes

Guest Post by Dave Collum

Peak Prosperity Publishing Note: We are publishing the full 2023 Year In Review in two parts (to help web browsers with the quantity of content). For those who just can’t wait and need to read the whole thing right away… Dig in! We will also be republishing a subsection each day (of the exact same content) in bite-sized chunks over the next 7 days. Those subsections will each have their own comment section to facilitate conversations focused on that particular content. Given the length and wide-ranging content within Dave’s YIR, we think comments on a per-section basis will be much more manageable, but proceed as you wish. Part 2 can be found HERE. The PDF download is available HERE.

The man who does not read has no advantage over the man who cannot read.

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~ Mark Twain

This is my 14th Year in Review, and they are getting very hard to write. I am grateful to Peak Prosperity for providing this opportunity to hang myself. They began as a summary of my investments and a few comments about what I was pondering for some friends at the Prudent Bear chat board and have morphed into a beast that has tipped the scales at over 300 pages on a big year. I think the most epic was 2021 in which I wrote about rising authoritarianism.¹ I had a goal—a plot rattling in my head—that had to be finished. Last year had three parts in which the final section on Covid and the lockdowns was roughed out but never uploaded. I am not sure whether I was Covid-saturated or I perceived that the world had had enough, but I just buried it in a shallow grave with other victims of Fauci. This year is at risk of the same thing happening.

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2022 Year in Review: All Roads Lead to Ukraine

Guest Post by Dave Collum

Annually, friend-of-the-site David Collum writes a detailed “Year in Review” synopsis full of keen perspective and plenty of wit. He strikes again in his usually poignant and delightfully acerbic way. As with past years, he selected Peak Prosperity as the site where it is published in full. It is longer than our usual posts, but worth the time to read in full. While each part stands on its own, and doesn’t need to be read in order. To download Part 1 as a pdf, click here: 2022 Year in Review: All Roads Lead to Ukraine. To read Part 2, click here.

David B. Collum
Betty R. Miller Professor of Chemistry and Chemical Biology – Cornell University
Email: [email protected] – Twitter: @DavidBCollum

Introduction

This Year in Review is brought to you by Pfizer, FTX, and Raytheon.

Every year, I write an annual survey of what happened in the world. After posting at Peak Prosperity, it gets a bump from the putative commies at Zerohedge¹^,²^,3,⁴ who I read religiously. (I have topped over 60 cameo appearances at Zerohedge, consistent with getting booted off Twitter four times.) Why do I write it? My best answer is that you do not understand something until you have written your ideas down coherently. I am also trying to figure out who keeps yelling “Beetlejuice!”

Write as often as possible, not with the idea at once of getting into print, but as if you were learning an instrument.

~ J. B. Priestley, English novelist

I break every rule of blog marketing. Nobody writes one gigantic blog a year, but it makes the rounds. It is onerous and exhausting, especially since I must necessarily procrastinate up to the deadline.

2022: The Year I spent reading Dave Collum’s 2021 Year In Review.

~ Commenter

Most years, I write what I can and then wrap it. In 2021, however, I had a primal drive to cover the usual stuff plus two topics that do not lend themselves to abbreviation: the Covid pandemic and rising global authoritarianism. Many are now realizing that the former is a manifestation of the latter. While I may not have been correct I had to get it right…if that makes any sense. Like so many young athletes in 2021, I left it all on the field. I uploaded it too demoralized and depressed to even send it to friends, confidants, and family.

The peeing was special.

~ David Einhorn

Diehards found it anyway and reached out with comments. Two I call good friends had diametric views that I will take the liberty of paraphrasing. Sitting on one shoulder was Tony Deden, founder of Edelweiss Holdings based in Switzerland and a saint, who sensed my pain and urged me to stop writing. He went beyond the pale by inviting me to detox in his chalet in the Swiss Alps or on his 25-acre strawberry farm on Crete. I had to pass because traveling is hard on the family. On the other shoulder was David Einhorn, a friend of a dozen years who has helped me in ways few will ever know. He told me I must keep writing it. I think 2021 could have been the apex and a perfect time to stop. I sided with David this year but may soon follow Tony’s advice.

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2021 Year in Review: Crisis of Authority and the Age of Narratives

Guest Post by Dave Collum

Introduction

Dave: You do lack self control, but I learned and laughed making my way thru this.

~ Larry Summers (@LHSummers), former Secretary of the Treasury

I’ve been trying to reach you about your car’s extended warranty. What began more than a dozen years ago as a synopsis of the year’s events in markets and finance for a few friends morphed beyond my control into a Year in Review (YIR)—an attempt to chronicle human folly and world events for the entire year. It captures key moments before they slip into the brain fog. The process of trying to write a coherent narrative helps me better understand WTF just happened and seminal moments that catch my eye.

By far my favorite end-of-year recap for the last ten years. Finished it yesterday. Once again David hasn’t disappointed. He’s on my I want to go to dinner with list.

~ Jim Pallotta (@jimpallotta13), money manager and former owner of Boston Celtics

I’m game, Jim, even if it’s just a pretzel, nachos, and a brewski. The title, “Crisis of Authorities,” is a double entendre. On the one hand, previously trusted authorities that we relied on to better understand the world are long gone. Edward R. Murrow, Walter Cronkite, and Tim Russert have been replaced with Chris Cuomo, Don Lemon, and Brian Stelter. Oops. Scratch Chris Cuomo. Ponder the following: which acronymed organization do you still trust? FBI? CIA? FEMA? DOJ? CBS? ABC? Fox? CNN? At one point I would have comfortably offered up the CDC, FDA, and NIH. Portions of those three should be razed. Social media offered up one acceptable answer: KFC. The second, more deeply disturbing meaning is that smoldering socialism has veered toward authoritarianism, a seismic shift that is global and quite possibly unstoppable.

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THE ROAD TO PERDITION IS PAVED WITH EVIL INTENTIONS

“Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending” ― Nassim Nicholas Taleb, The Bed of Procrustes: Philosophical and Practical Aphorisms

“Globalization has created this interlocking fragility. At no time in the history of the universe has the cancellation of a Christmas order in New York meant layoffs in China.” – Nassim Nicholas Taleb

As we continue our national lockdown suicide cult to hell, I find myself getting angrier and angrier at the pathetic leadership displayed by politicians, government bureaucrats, so called medical “experts”, and intellectual yet idiot academics displaying their ignorance of facts, reality, history, and humanity. My nature is to be skeptical of everything I read or am told.

I most certainly disregard everything communicated to me by politicians, world leaders, central bankers, corporate CEOs, CNBC talking heads, the mainstream corporate fake news media, and lately – self-proclaimed medical experts who have distinguished themselves by not seeing the danger coming, downplaying the danger, not being prepared for the danger, incompetently handling the danger and righteously proclaiming the nation had to be brought to a full stop because their terribly flawed models said so.

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Dave Collum: 2019 Year in Review (Part 2)

Guest Post by Dave Collum

The whole enchilada can be downloaded as a single PDF here or viewed in parts via the hot-linked contents as follows:

The Jeffrey Epstein Affair

“Insiders also understand one unbreakable rule: They don’t criticize other insiders.”

~ Larry Summers as told by Elizabeth Warren

Let’s take this one right to the hoop: The Epstein saga may be the biggest, most broadly based scandal in US history. Of course, it has some serious competition, but to use the logic of Peter Dale Scott, the Berkeley professor who cut his teeth studying drug cartels, once in a while you get fleeting images of what lurks in the political pipes down in the basement. Peter called it “deep politics” in 1996, what is now called the deep state or, according to Wikipedia,¹ a Conspiracy of the Loons. Previous peeks into the basement include the collapse of BCCI,² the Panama papers,³ Fast and Furious,⁴ the Iran-Contra scandal,⁵ and, for the nostalgic, a spate of assassinations.⁶ You couldn’t miss the Epstein saga (unless, of course, you are still chained in the basement by one of his friends), but our wokeness is highly variable and, by definition, poorly developed. The Tetris pieces fall slowly at first but quickly by the end. Amazon is already filling up with treatises by those who can type 300 words per minute. My sources are a combination of random news reports, daily searches of the keyword “Epstein” on Twitter, and a few particularly persistent sleuths including Michael Krieger (@Libertyblitz),⁷ Witney Webb (@_whitneywebb),⁸ and articles flying across Zerohedge (@zerohedge). While reading this chapter let’s play Jeopardy—“Alex: I’ll take ‘WTF?’ for $500”—or maybe even Bizarro Bingo wherein you place a ‘✓’ every time something just got really weird.

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10 YEARS LATER – NO LESSONS LEARNED

“A variety of investors provided capital to financial companies, with which they made irresponsible loans and took excessive risks. These activities resulted in real losses, which have largely wiped out the shareholder equity of the companies. But behind that shareholder equity is bondholder money, and so much of it that neither depositors of the institution nor the public ever need to take a penny of losses. Citigroup, for example, has $2 trillion in assets, but also has $600 billion owed to its own bondholders. From an ethical perspective, the lenders who took the risk to finance the activities of these companies are the ones that should directly bear the cost of the losses.” – John Hussman – May 2009

This month marks the 10^th anniversary of the Wall Street/Fed/Treasury created financial disaster of 2008/2009. What should have happened was an orderly liquidation of the criminal Wall Street banks who committed the greatest control fraud in world history and the disposition of their good assets to non-criminal banks who did not recklessly leverage their assets by 30 to 1, while fraudulently issuing worthless loans to deadbeats and criminals. But we know that did not happen.

You, the taxpayer, bailed the criminal bankers out and have been screwed for the last decade with negative real interest rates and stagnant real wages, while the Wall Street scum have raked in risk free billions in profits provided by their captured puppets at the Federal Reserve. The criminal CEOs and their executive teams of henchmen have rewarded themselves with billions in bonuses while risk averse grandmas “earn” .10% on their money market accounts while acquiring a taste for Fancy Feast savory salmon cat food.

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2016 Year In Review: A Clockwork Orange

I’ve been on friendly terms with Dave Collum for years. We have a very similar view on the world. He puts together the most comprehensive year in review article you can imagine on an annual basis. You’ll need plenty of time to digest the material, but it will be well worth your time.

Via Peak Prosperity

Every year, friend-of-the-site David Collum writes a detailed “Year in Review” synopsis full of keen perspective and plenty of wit. This year’s is no exception. As with past years, he has graciously selected PeakProsperity.com as the site where it will be published in full. It’s quite longer than our usual posts, but worth the time to read in full. A downloadable pdf of the full article is available here, for those who prefer to do their power-reading offline. — cheers, Adam

Background: The Author

“The easiest thing to do on earth is not write.”

~William Goldman, novelist

I never would have believed it—not in a million years—but it happened: the Cubs won the World Series, and The Donald is our new president. Every December, I write a Year in Review¹ that’s first posted on Chris Martenson’s & Adam Taggart’s website Peak Prosperity² and later at Zero Hedge.³ What started as a few thoughts posted to a handful of wingnuts on Doug Noland’s Prudent Bear message board has mutated into a detailed account of the year’s events. Why write this beast? For me, it puts the seemingly disconnected events that pass through my consciousness, soon to be lost forever, into a more organized and durable form. Somebody said I should write a book. I just did. In a nutshell, this is a story of human follies and bizarre events. There are always plenty of those. Let others tell the feel-good stories.