tag:blogger.com,1999:blog-31671374.post466579359009230502..comments2023-10-30T07:10:34.610-07:00Comments on Underbelly: Known Unknowns, and our Enduring MalaiseBucehttp://www.blogger.com/profile/16452321114185736762noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-31671374.post-27186929491207484772012-06-28T03:37:09.702-07:002012-06-28T03:37:09.702-07:00I don't know what Buce is saying, but yes, rob...I don't know what Buce is saying, but yes, <a href="http://en.wikipedia.org/wiki/Algorithmic_trading" rel="nofollow">robots do a lot of trading.</a>.Larry Hamelinhttps://www.blogger.com/profile/08788697573946266404noreply@blogger.comtag:blogger.com,1999:blog-31671374.post-34144732861639678832012-06-27T21:21:08.689-07:002012-06-27T21:21:08.689-07:00I'm confused, did you say robots do our tradin...I'm confused, did you say robots do our trading?Randyhttp://www.postmasculine.comnoreply@blogger.comtag:blogger.com,1999:blog-31671374.post-29166534308205466882012-06-17T20:02:13.492-07:002012-06-17T20:02:13.492-07:00Oh puleeze. :-p You know the difference between an...Oh puleeze. :-p You know the difference between an <i>ad hominem</i> fallacy and a simple insult.Larry Hamelinhttps://www.blogger.com/profile/08788697573946266404noreply@blogger.comtag:blogger.com,1999:blog-31671374.post-30720997411042699322012-06-17T17:16:42.089-07:002012-06-17T17:16:42.089-07:00At last, an ad hominem attack! Someone is finall...At last, an <i>ad hominem</i> attack! Someone is finally treating me like a serious blogger! [Thanks, mom!]Bucehttps://www.blogger.com/profile/16452321114185736762noreply@blogger.comtag:blogger.com,1999:blog-31671374.post-37461688487996588462012-06-17T16:56:32.761-07:002012-06-17T16:56:32.761-07:00You are insufficiently cynical; indeed you may be ...You are insufficiently cynical; indeed you may be entirely naive.<br /><br />I suspect, Buce, that you see the elite in light of the class struggle between the professional-managerial class and the rentier class. The problem is that the rule of the professional-managerial class, ascendent from the end of the Second Imperialist War, has already been decisively broken after having been outfought since the mid 70s. Their aspiration to rule is no longer tenable.<br /><br />The professional-managerial class never, I think, had any extrinsic "incentive" as a ruling class to tell the truth; their generally truth-conforming behavior was a relic of when they were a subordinate middle class. They may have been defeated <i>because</i> they told the truth, or they may have been defeated because they too-quickly abandoned truth-telling (postmodernist epistemic relativism?); I'm not sure which. But beyond a doubt, they have been defeated they have been. <br /><br />According to today's elites, <i>nothing has gone wrong</i>: they are still in power, and unless and until things become decisively worse, they face no challenge to their rule. Indeed, all the measures that might help the <i>hoi-polloi</i> would erode their own legitimacy and power and signal surrender to the just-defeated professional-managerial class. Why should they look for solutions that would hurt them for problems that only help them?Larry Hamelinhttps://www.blogger.com/profile/08788697573946266404noreply@blogger.com