Hello. I’m Burnham Banks and I studied economics in the late 80s and early 90s. I’m still studying economics today and am still no wiser. This blog is a journal, a record of my thoughts and experiences. If we are destined to repeat our mistakes, we should at least repeat them faithfully. If not, then perhaps the past is a mischievous guide and we should try something new.
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Efficient Oppressors

Human history is replete with class oppression. In an unequal society the natural tendency is for those of superior wealth or power to maintain supremacy. This often requires some form of oppression. Persuasion is greater than force. Efficient oppression involves convincing the oppressed that they are not oppressed or that their wealth and welfare are
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Fools are to Society as Carbon Control Rods are to Nuclear Reactors.

Something to slow down the informational transmission of a society to increase informational efficiency. Since each node has an optimal rate of processing information, a network that transmits information too quickly is not efficient. Fools serve a useful purpose and should be valued.
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US Drug Approval Process – Extracted from various sources. For Personal Reference Only.

The entire process of moving a drug from design to clinical trials takes 10 to 12 years on average. Preclinical studies Deciding whether a drug is ready for clinical trials (the so-called move from bench to bedside) involves extensive preclinical studies that yield preliminary efficacy, toxicity, pharmacokinetic and safety information. Wide doses of the drug
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Thoughts after 2 weeks Off The Grid. November 2019.

Equity markets have made new highs while bond markets have stalled. Economic data are mixed following months of signs of slowing. India’s economy has slowed drastically, China’s slowdown seems to have moderated, Europe still looks weak albeit the data seems to have stopped deteriorating and the US economy seems to have firmed from prior weakness.
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Thoughts From The Bar Stool…

Readers of this blog will be aware that I have been bearish about global economic and political conditions for some time now. Yet I find things to buy. I leave for my vacation and will return in 2 weeks and will endeavor to monitor news and markets as little as possible. But befor e I
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