May 21, 2018

Tony Dwyer: positively-shaped yield curve is bullish

Please don't get bearish when there's a positively-shaped yield curve.

~ Tony Dwyer, as appeared on CNBC, January 25, 2018

May 17, 2018

Robert Patton on school vouchers

Those proponents of liberty who advocate the voucher system fail to recognize that, in so doing, they are giving an implicit endorsement to a principle that they profess to oppose. The fundamental premise of the voucher plan is identical to that underlying the present system of state education. The coercive power of the state (which in the final analysis means the threat or use of the gun) will still be used to seize the property of private individuals in the name of an undefinable public good.

~ Robert Patton, The Freeman [April 1971]

May 7, 2018

Bertrand Russell on confirmation bias

What a man believes upon grossly insufficient evidence is an index into his desires - desires of which he himself is often unconscious. If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on the slightest evidence. The origin of myths is explained in this way.

~ Bertrand Russell, Roads to Freedom