Carl Richards of Behaviour Gap has some advice.
I spend much of my time shrugging off breathless news events. Ebola (now Zika), employment reports, Federal Reserve rate changes, government shutdowns, peak earnings and so on. Much of what passes for earth-shaking news turns out to be, with the benefit of hindsight, something in between idle gossip and fear-mongering. The genuine, not well-anticipated, actual market-moving news — such as the U.K.’s vote to leave the European Union — is a relatively rare thing.
However, there is a disconcerting trend that has gained strength:agnotology. It’s a term worth knowing, since it is going global. The word was coined by Stanford University professor Robert N. Proctor, who described it as “culturally constructed ignorance, created by special interest groups to create confusion and suppress the truth in a societally important issue.” It is especially useful to sow seeds of doubt in complex scientific issues by publicizing inaccurate or misleading data.
More here – Bloomberg
I like the rest of Australia share a hate-hate relationship with TLS. They are a bumbling, incompetent bunch of dicks that we are stuck with courtesy of successive bumbling incompetent governments who have had their heads firmly rooted up their arses when it comes to communications policy. Where else in the world would you have had successive Ministers for Communication who have claimed to either have never sent an email or believed they invented the internet.
However, I digress from the purpose of my rant. I have received two successive communications from TLS telling me that I am about to receive a new modem which I didn’t ask for. Fantastic I think – what could possibly go wrong. The letter I received told me that I could change the address to which the modem could be sent and since I am never home to collect such things I decided to tempt fate and ring TLS and tell them to send it to a different address. How stupid am I ?
So I ring the number on the letter and guess what…..it doesn’t connect. At this point I should have realised that the universe was telling me something and I should hang and go do something useful with the next hour, but no I press on like Odysseus in the Odyssey and we all know how well that went…So I ring again and eventually get through to my very polite helper who was no doubt enjoying better weather somewhere else in the world than I was in Melbourne. I explain to him that I wish to redirect the modem I am receiving for free to a different address and after exchanging a few details he tells me I am not receiving a new modem. I say yes I am and he says no I am not and I say yes I am and he says no I am not. This goes on for a little while till I read him the actual letter sitting on my desk – its odd how the instant defence of all Australian companies I have dealt with is to assume that the client is a liar. Probably explains a lot about how things work in Australia, or in the case of TLS dont work.
Anyhow he manages to get organised and puts in an order for my supposedly new free modem which TLS will undoubtedly try and charge me for because if you are going to be incompetent you might as go the whole hog and be completely useless at the same time…
Seems an appropriate time to revisit this. When this was occurring I was sitting in an airport lounge somewhere trying to make the best of what past for mobile communication in those days.
In 1992, George Soros brought the Bank of England to its knees. In the process, he pocketed over a billion dollars. Making a billion dollars is by all accounts pretty cool. But demolishing the monetary system of Great Britain in a single day with an elegantly constructed bet against its currency? That’s the stuff of legends.
Though it occurred just two decades ago, Soros made his nation-shaking bet in a very different time. Back then, hedge funds hadn’t yet entered the public consciousness, restrictions on capital flowing from one country to another were just lifted, and the era of the 24-hour news cycle had just begun.
To appreciate how Soros made a fortune betting against the British pound requires some knowledge of how exchange rates between countries work, the macroeconomic tools governments use to stimulate economies, and how hedge funds make money. Our readers are invited to correct us if we stumble in explaining any of these concepts.
And so onwards with the story of how George Soros led a group of traders to break the entire foreign currency system of Great Britain—and profit handsomely at the expense of British taxpayers and others who were on the wrong side of the greatest financial bet of the 20th century.
More here – Priceonomics