A straightforward explanation of the present financial crisis (part 1)
3rd January 2008
Mencius Moldbug explains it all to you.
First, finance is not a science. Secondly, finance is not intrinsically complicated. And third, unless you are a physicist, your life will be pretty much the same whether you understand relativity or not. “You may not be interested in war,” Trotsky once said, “but war is interested in you.” The same is surely true of finance.
To actually understand all of modern finance, you would need a brain the size of a beachball. This would certainly attract notice, and you might have some trouble getting laid.
Read the whole thing.