Thinking is hard work….that is apparently why only few are doing it (to paraphrase Henry Ford). So what is the Nomad thinking about? Here are just some of the ‘out there’ ideas that keeps the Nomad awake at night…. apologies content getting reformatted for public consumption. Your patience appreciated. When I started this in 2010, the idea was not only to share my ideas and thoughts on what I was reading with you, but to also create an area for us to discuss and exchange ideas re books . Other issues got on the way, the reading did not stop, but finding time to share my thoughts with you was difficult. Will give it another shot… fast forward to Sept 2017…here goes.
So what are you reading now and why?
Slapped by the Invisible Hand: The Panic of 2007, Gary B. Gorton of Yale University’s School of Management explains in some detail how in August 2007, the financial markets found themselves in the grip of a phenomenon thought to have been rendered impossible by various safeguards: a banking panic of the sort that rocked global capitalism a dozen times between 1837 and 1907. This time, however, the spectacle did not consist of individual depositors lined up outside the locked doors of retail banks, but rather firms creating runs on other firms. Instead of some familiar physical address, this occurred at the intersection of the securitization business and the shadow banking system, two enormous industries that had barely existed 25 years earlier.
The story of how a long “quiet period” in American banking — roughly 75 years without a single panic — gave way to a seismic near-collapse after years of tumultuous behind-the-scenes change makes for fascinating reading. The implications for how the authorities might have acted differently is even more interesting. After all, if the meltdown was mainly an old-fashioned banking panic at a higher level of abstraction, it should have been easier to fix.
I’m rereading a few chapters of Wolfram’s book to check my sanity, I guess. Stephen Wolfram? ok then, please visit http://www.wolframalpha.com/
When cruising on the North side of the digital divide, the Nomad hangs around (about) Favorite Magazine for tech stuff and bigthink for new ideas.
Recently on my way back from Guadalajara, I bought a copy of my favorite magazine, Wired from Houston airport to enjoy it during the long flight. I did not notice the partial view of the healthy human being on the front page cover, or did not pay any attention is better way to explain the reality of the situation. However, when my bag was checked in one of the airport in the Gulf region, I found myself not only in a very embarrassing situation, but also to have a serious discussion with the airport authority… re the photo on the front cover!
Any other good books read recently?