Category: Journal of a Wayward Philosopher

Become a Creator

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Journal of a Wayward Philosopher
Become a Creator

July 8, 2016
Hot Springs, VA

“Let them be creators, not followers. Followers have a certain mentality, and independent creators a quite different mentality. We want creators – people who find solutions by themselves, who have their own conceptions of right and good, and who are capable of independent, righteous action. Followers don’t do that. To get the creator mindset, you have to get out of the way and let them rise to the occasion. Make sense? ” – Phillip Donson, A Lodging of Wayfaring Men

The S&P closed out Thursday at $2,097. Gold closed at $1,362 per ounce. Crude Oil closed at $45.14 per barrel, and the 10-year Treasury rate closed at 1.39%. Bitcoin is trading around $652 per BTC today.

Dear Journal,

Wife Rachel took it upon herself to take me out on a date earlier this week! She had recently discovered a picturesque country inn nestled in the heart of Virginia’s Blue Ridge Mountains, and she thought it was just the place for me. So we traveled an hour’s worth of winding country roads even deeper into the mountains of Virginia on a misty Tuesday night. Continue reading “Become a Creator”

The Zenconomics Report June Issue

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Journal of a Wayward Philosopher
Zenconomics Report June Dispatch

June 28, 2016
Hot Springs, VA

The S&P closed out Monday at $2,000. Gold closed at $1,330 per ounce. Crude Oil closed at $46.71 per barrel, and the 10-year Treasury rate closed at 1.46%. Bitcoin is trading around $650 per BTC today.

Dear Journal,

There will be no official entry today. Instead, I would like to invite you to subscribe to the Zenconomics Report in time to receive our first official issue. We will be sending out the monthly dispatch on June 30 to members of the Zenconomics Report mailing list.

The Zenconomics Report will cut through all of the noise, clap-trap, hoop-la, misinformation, and propaganda circling the financial markets. The financial media typically analyzes the markets from a binary perspective of “good versus bad”, often with an underlying agenda to push. This does seekers of financial information a major disservice, and it sets them up to crash and burn when the next Black Swan makes its appearance.

The digital age has made information nearly free for everyone with an internet connection, but this created an unforeseen problem. With the flood gates of information open, how do you know what information is good and what information is not so good? Continue reading “The Zenconomics Report June Issue”

Bitcoin and the Crypto Revolution

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Journal of a Wayward Philosopher
Bitcoin and the Crypto Revolution

June 22, 2016
Hot Springs, VA

“Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. ” – Nassim Taleb, Author of Antifragile: Things That Gain from Disorder

The S&P closed out Monday at $2,088. Gold closed at $1,271 per ounce. Crude Oil closed at $48.95 per barrel, and the 10-year Treasury rate closed at 1.70%. Bitcoin is trading around $670 per BTC today.

Dear Journal,

Bitcoin flirted with $800 last week before dropping all the way down to $630. Today it is hovering around $670. Such volatility is usually feared by the general public, and it is often cited as one of Bitcoin’s weaknesses. To me, this volatility is a beautiful example of price discovery in one of the freest markets on Earth. Continue reading “Bitcoin and the Crypto Revolution”

What America Forgot

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Journal of a Wayward Philosopher
What America Forgot

June 14, 2016
Hot Springs, VA

“Think about this, Frances: For the past several thousand years of recorded history, humans lived at the edge of starvation, usually in abject poverty, perpetually at risk. But in just the past few centuries, and primarily in only one or two parts of the world, we suddenly develop medical science, cars, telephones, airplanes, refrigeration, central heating, electrical power, computers, and spaceships. Why here? And why now?” – James Farber, A Lodging of Wayfaring Men

The S&P closed out Monday at $2,079. Gold closed at $1,286 per ounce. Crude Oil closed at $48.56 per barrel, and the 10-year Treasury rate closed at 1.61%. Bitcoin is trading around $705 per BTC today.

Dear Journal,

As I mentioned in last week’s entry, wife Rachel and I just celebrated our third wedding anniversary, and this one may have been the best yet. There were no gifts, no fancy dinners, no nights out… Rachel didn’t even get me a card! I was so proud of her!

It reminded me of the Christmas following our engagement a number of years ago. With the wedding looming, we agreed not to give each other gifts for just one Christmas holiday in the interest of saving money.

Believing very strongly in contractual agreements, I followed through diligently on my end of the deal… Rachel did not. I found myself receiving several gifts from her on that Christmas morning, and I didn’t have even the tiniest trinket to offer in return. She was devastated!

I tried to plead my case: But I thought we agreed not to give each other gifts!? Continue reading “What America Forgot”

Markets and Economic Calculation

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Journal of a Wayward Philosopher
Markets and Economic Calculation

June 7, 2016
Hot Springs, VA

“Monetary calculation is not the calculation, and certainly not the measurement, of value. Its basis is the comparison of the more important and the less important. It is an ordering according to rank, an act of grading (Cuhel), and not an act of measuring.” – Ludwig von Mises

The S&P closed out Monday at $2,109. Gold closed at $1,247 per ounce. Crude Oil closed at $49.71 per barrel, and the 10-year Treasury rate closed at 1.72%. Bitcoin is trading around $585 per BTC today.

Dear Journal,

Wife Rachel and I will commemorate our third wedding anniversary tomorrow! When she asked me what I would like to do to celebrate, I naturally suggested that we could do anything in the world she wanted. Her response:

I would kind of like to do something fun, but I would settle for a major house cleaning day…

Does that mean we are officially marriage pro’s?

Moving on… I think this is a fascinating time to be alive. Based on what I know about recorded human history, I doubt there has ever been a more interesting point in time to be a keen observer of civilization. How lucky we are!

As I have reckoned on before, human civilization is currently transitioning from the Industrial Age and into the Information Age. Pre-Internet society was drastically different from post-Internet society, and indeed all of modern civilization has been made dependent upon a functioning Internet. This dynamic will only deepen as all of the Big Data and Internet-of-Things trends continue to play out. Continue reading “Markets and Economic Calculation”

Breaking the Authoritarian Cycle

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Journal of a Wayward Philosopher
Breaking the Authoritarian Cycle

May 27, 2016
Emerald Isle, NC

“Are you for peace? The great test of your devotion to peace is not how many words you utter on its behalf. It’s not even how you propose to deal with people of other countries, though that certainly tells us something. To fully measure your “peacefulness” requires that we examine how you propose to treat people in your own backyard. Do you demand more of what doesn’t belong to you? Do you endorse the use of force to punish people for victimless “crimes”? Do you support politicians who promise to seize the earnings of others to pay for your bailout, your subsidy, your student loan, your child’s education or whatever pet cause or project you think is more important than what your fellow citizens might personally prefer to spend their own money on? Do you believe theft is OK if it’s for a good cause or endorsed by a majority? If you answered yes to any of these questions, then have the courage to admit that peace is not your priority. How can I trust your foreign policy if your domestic policy requires so much to be done at gunpoint?” – Lawrence W. Reed

The S&P closed out Thursday at $2,090. Gold closed at $1,222 per ounce. Crude Oil closed at $49.48 per barrel, and the 10-year Treasury rate closed at 1.82%. Bitcoin is trading around $474 per BTC today.

Dear Journal,

We have spent this past week on North Carolina’s beautiful “Crystal Coast”. As I look around at the rows of beach houses lining the island, I can’t help but imagine what this place looked like back in the early 1700’s when the legendary Blackbeard roamed these islands on the Queen Anne’s Revenge.

What secrets have been covered up by mass-development? How many hidden coves have been forgotten as we marvel over heated swimming pools by the sea with pool tables and mini-bars nearby? What drove commerce on these islands before tourism, seafood restaurants, and ice cream parlors?

Not that I am opposed to development. The market system has created wealth unimaginable by the pirates and fishermen who inhabited these islands three centuries ago. Continue reading “Breaking the Authoritarian Cycle”

The Future of Money

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Journal of a Wayward Philosopher
The Future of Money

May 18, 2016
Hot Springs, VA

“Just like the Internet gave information back to the people, Bitcoin will give financial freedom back to the people. But that’s only the first step… Bitcoin will allow us to shape the world without having to ask for permission. We declare Bitcoin’s independence. Bitcoin is sovereignty. Bitcoin is renaissance. Bitcoin is ours. Bitcoin is.” – Julia Tourianski

The S&P closed out Tuesday at $2,047. Gold closed at $1,280 per ounce. Crude Oil closed at $48.54 per barrel, and the 10-year Treasury rate closed at 1.759%. Bitcoin is trading around $457 per BTC today.

Dear Journal,

Wife Rachel: Honey, look! Madison has a pet caterpillar in this jar! She put leaves and twigs in there so it can eat and turn into a butterfly…

Philosopher Joe: Oh… why does it look like all of the oxygen has been sucked out of the jar?

Wife Rachel: What do you mean…?

Philosopher Joe: Did you punch holes in the top to let air in?

Wife Rachel: Wha… oh crap.

Spring is in full swing here in the mountains of Virginia. The caterpillars are crawling, the butterflies are flying, the wildflowers are blooming, and the all-encompassing green foliage is a bright celebration of new life! Continue reading “The Future of Money”

The Future of Education

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Journal of a Wayward Philosopher
The Future of Education

May 6, 2016
Hot Springs, VA

“The only thing that interferes with my learning is my education.” – Albert Einstein

The S&P closed out Thursday at $2,044. Gold closed at $1,272 per ounce. Crude Oil closed at $44.32 per barrel, and the 10-year Treasury rate closed at 1.78%. Bitcoin is trading around $453 per BTC today.

Dear Journal,

Last week we talked about transitioning away from coercive social organization and towards voluntary association. We suggested that financial dependency was one of the primary excuses for coercive government policies. Today, let’s take a look at the education piece of the puzzle.

I won’t beat around the bush with this: the 20th century classroom model of education is all but obsolete.

We know that every individual is unique. We know that every individual has different skills, talents, interests, and passions. We also know that every individual has different learning styles. I doubt that you can find anyone who would disagree with those three statements. Continue reading “The Future of Education”

Transitioning from Coercion to Voluntary Association

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Journal of a Wayward Philosopher
Transitioning from Coercion to Voluntary Association

April 27, 2016
Hot Springs, VA

“The only highwayman I ever met was the state itself. When I have refused to pay the tax which is demanded for that protection which I did not want, itself has robbed me. When I have asserted the freedom it declared, it has imprisoned me.” – Henry David Thoreau

The S&P closed out Tuesday at $2,091. Gold closed at $1,244 per ounce. Crude Oil closed at $44.02 per barrel, and the 10-year Treasury rate closed at 1.93%. Bitcoin is trading around $455 per BTC today.

Dear Journal,

Last week we gazed into our crystal ball and discussed the future of commerce. As part of that discussion, we suggested that centralized governments have been skimming 50% of all production via taxation for quite some time now, and we suggested that the global economy would boom if producers were permitted to keep the monetary fruits of their labor.

I should clarify this a bit more by saying the vast majority of those taxes go towards financing corruption, cronyism, special interests, bureaucracy, militarism, dependency programs, and waste. In other words, they are used to destroy wealth and destabilize civilized society. A very small portion of the taxes you pay goes towards providing core civil services.

Further, the entire system of centralized government is underwritten by coercion and violence. Here’s what I mean by this: Continue reading “Transitioning from Coercion to Voluntary Association”

The Future of Commerce

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Journal of a Wayward Philosopher
The Future of Commerce

April 20, 2016
Hot Springs, VA

“Commerce, by its very nature, is born free. And more than this, it forever fights to remain free. At almost every time and place, commerce evades regulations and controls; it serves its own will, not the wills of rulers. Markets spontaneously emerge at every opportunity, even when they are outlawed and punished. Commerce seems to have an existence of its own, like an independent organism.” – Paul Rosenberg

The S&P closed out Tuesday at $2,100. Gold closed at $1,252 per ounce. Crude Oil closed at $42.46 per barrel, and the 10-year Treasury rate closed at 1.78%. Bitcoin is trading around $437 per BTC today.

Dear Journal,

The institutional foundation of the Industrial world is crumbling all around us. Governments are broke. Social welfare programs are severely underfunded. Unions are broke. Pension plans are underfunded. National currencies have been trashed. Blue-collar jobs in the developed world have been lost to low-wage countries. Low-wage jobs have been lost to robotics and automation. Many of the jobs just disappeared entirely. Everyone’s retirement account is propped up by the constant creation of money out of thin air required to keep the financial markets afloat.

Welcome to the Information Age! Continue reading “The Future of Commerce”