We’re Not In The First Inning Anymore…

1. First Inning
   • 1867: Marx denounces and predicts inevitable failure (diminishing returns, dystopian future) for what will eventually become global, neoliberal, algo-capitalism
   • 2005-7: “too big to fail” peak-oil/finance/debt/“trust” failure/crisis
     • QE spawned (assets inflate but confidence is not restored)
     • QE fails (trust crisis ensues: deleveraging, depression, crime/violence, class/military-war, bankruptcy, restructuring, austerity…)
2. (You Are Here)
   • Here is where markets and arbitrage, as the only truly successful human “philosophy” other than the scientific method, have clear roles to play…