The Klarman Letter
Who?
It’s about the money. What did they say in “All The President’s Men”? Follow the money. And if you do, you will find the answers.
Hell, it’s obvious in entertainment, where studios make Marvel pictures and labels release cartoons too. People go where the bucks go. But where are they going?
If you read Fox News, or the “Wall Street Journal,” you’re unaware of the Klarman Letter, it does not appear. But the financial world is shaking as a result of its publication. Seth Klarman is not at Davos, but he’s bigger than Bono and the rest of the celebs who are attending.
You see Seth Klarman is the new Warren Buffett, and Buffett gives Klarman props. And Klarman just released a letter telling the world to be afraid, very afraid. Because of social unrest, the isolation of America, the debt and the denigration of facts.
That’s right, we’re watching the movie right now, but how is it gonna end?
Now the Republicans have been crying about debt for over a decade, but the tax giveback to corporations and the rich have exploded it. How long until there are consequences, until the dollar is no longer the world’s currency.
You see Trump has created a vacuum, it’s jump ball on Earth today. Who is the leading nation. As Britain and America look inward, believing the rest of the world is their enemy, a space has opened up for new leaders. Or as Bob Geldof put it, without the U.K., France and Germany can’t get along.
Geldof has studied it. But most people, most prognosticators, most talking heads have not. They’re myopic, only interested in their own paychecks. That’s right, in reading about the Paramount plunge, it was noted that the execs refused to spend money acquiring the aforementioned Marvel because it would affect their bonuses. That’s how corporations are run. Everybody’s a caretaker. Steve Jobs refused to distribute the billions in the coffer. Tim Cook gives them back to raise the stock which subsequently tanks. Overpaying for nothing. And these are the same dollars that could have been used to buy Netflix, instead of banking on the non-edgy fare in its yet to be released streaming service. That’s right, take out boobs and HBO would have never flown. Boobs start everything, and when a market matures it’s like musical chairs, and those established get a seat. Why does Apple think it can end up with a seat when long term player Amazon is struggling? And why should Netflix fail when it’s Disney that’s spending so much for programming, more than the famous streaming service. Can you say “HomePod”?
But conventional wisdom goes one way, until it goes another. AOC appears and suddenly everybody’s talking about a 70% tax rate, when previously it was all about taxes being lowered. Forget what happens, that’s how easy the dialogue is hijacked.
And now the conversation has been steered by Seth Klarman.
But don’t expect most people to notice. First and foremost, the “New York Times” is leading with the story, and the right has denounced the New York paper to the point Republicans refuse to read it. That’s another thing Klarman warned us about. Everybody in their own silo as a result of websites steering them to like-minded conversations. We were enthralled with the internet titans until we weren’t. Now they control what we see and hear and not only are they opaque, they refuse to acknowledge fault.
So this is the world we live in.
And before you delete this as left wing drivel, know that Klarman was a Republican before Trump. As many rich are. They want to make and keep their money without restraint. Meanwhile, those without money vote Republican because of social issues and a remembrance of what once was. Trump’s election was a protest vote.
Which speaks to the social unrest Klarman is talking about.
And everybody agrees that a recession is coming. It’s just a matter of what it looks like and how bad it is.
And it affects you. That’s right, where and what your job is, if you have one at all. You have a responsibility to be informed. But so many shirk this. But they know when they’ve been screwed. Globalization is inevitable, but those who took advantage forgot about those disadvantaged. But that’s the world we live in today, it’s everybody for themselves.
But we live in a society and we all have to get along.
Read the article below, even if it is in the “Times.”
It’ll get you thinking, and wondering, where are we going?
That’s what the money is worried about.
“Chilling Davos: A Bleak Warning on Global Division and Debt”