William Hecht
Author Archive

William Hecht

Markets

[Note: this material is for educational and entertainment purposes only]   STOCK MARKET MANIAS are like champions in their fields: they do not go down without a fight. In August of 2020, I posted how the current  extended mania or “super bubble” represents decades of Federal Reserve Bank policies that led to a stock market seemingly incapable of falling for any stretch of time (https://www.moviesmarketsandmore.com/a-mania-to-rule-them-all/). The explanations for its longevity range from conspiracy theories to mass psychology to economic science: It is a self-fulfilling prophecy and a vicious cycle; no one sells because they are continually rewarded for buying and holding shares It is “propped up” by $1.4 trillion in QE per year (12 times $120 billion/month) and ZIRP or “zero-interest rate policy” at the

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Movies

The iconic TV show, Star Trek, flung wide open the door to science fiction literature for me. In fact some of the great early science fiction writers–like Asimov and Ellison–contributed to episodes for that show. I don’t remember when I first read Frank Herbert’s Dune, but it changed me. Three books from the 50s and 60s:  I Robot, Dune, and  A Canticle for Liebowitz stood out as a kind a Trinity in my Sci-Fi canon. It wasn’t long until film technology caught up with the imaginations of these writers: the refined special effects and later CGI in the ’70s and ’80s allowed access to countless tales of realms that could not practically exist outside of the mind. With the somber hues, the art shots and

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    “THEY WERE GARGANTUAN creatures. The earth was helpless before them as they devoured at their leisure whatever in their path might satisfy their appetites for another day.” Of course, this quote might be from a curator leading a fifth grade class through the Natural Science Exhibit on dinosaurs. But it could also be a future curator—from an orbiting city— lecturing about the now extinct giant corporations – many of them with sales figures that dwarfed the economic output of whole countries. “These “machines” as we now think of them, were so focused on meeting their insatiable quotas for growth, they altered the proximate ecosphere and even economically colonized the inhabitants. Of course, after exhausting the resources of the surface they scoured the ocean

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Markets

[Note: This content is for educational and entertainment purposes only. Consult a professional before making or changing investments.] Did the Coal-Mine Canary Just Byte the Dust?  NOTHING EXEMPLIFIES today’s progressive abstraction of reality and value  better than bitcoin–or say better than cryptocurrencies (bitcoin is the largest of many).   Over the last few hundred years, systems for a medium of exchange (and store of value, etc.) went from physical gold and silver coins to paper currency (notes) that did represent some quantity of a valued commodity (e.g. pound sterling or gold standard US dollar) to a completely confidence-based currency (“fiat” currency e.g. most world currencies today) to bitcoin (a unique algorithm among a finite supply of them). As I looked back on the economics class I

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Movies

Trial of the Chicago Seven A riveting film considering the events are part of history. Heavyweight actors abound in the cast of a film worthy of its many awards.  Mark Rylance, a favorite actor (Dunkirk, Bridge of Spies, Ready Player One), plays the attorney for the defense. Michael Keaton shows up in a special role to name only two. This film brought to light the confrontations up to and after the 1968 Democratic Convention in Chicago when a group of activists planned anti-war and counterculture protests at a nearby park.   Justice itself goes on trial here and it’s only before the credits roll that you learn what happened afterward. A number of people put years of  their own freedom on the line for the

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Markets

[Authors Note: This material is for entertainment and educational purposes only. Consult an investment professional about your personal investment needs and preferences for risk] I HAVE BEEN AN AVID OBSERVER  for thirty years as markets have made their seemingly inexorable rise despite manias and crashes and soaring national debt. I read about historical markets and the concomitant calamities and mostly booming recoveries therefrom.  I wish I had a dollar for every conspiracy theory and every method of prediction or forecasting I have come across. I even had a financial radio show in 2005-6. All of my guests–many of them prestigious–predicted the crash to come, though two years early.  The current market condition–like much of what else has happened in the last five years–continues to have

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Movies

TOM HANKS doesn’t make bad movies, though he has been part of so many great ones that many, like this one, are merely “good” or “worthwhile.” News of the World takes place not long after the Civil War-where a  lot of things had been disrupted, of course, and not yet returned to their proper place [Over 150 years later this remains true]. There aren’t many jobs that allow you to earn a living to avoid going home, but Hank’s character, Captain Kidd, found one. Part  performer, part civil servant, and former soldier, Kidd travels about the Middle West to read to townspeople from a collection of domestic newspapers. He has to be part diplomat, too because in every audience he is sure to have sensitive

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Movies

            SADLY, FOR THE LAST YEAR, my established ritual of “experiencing” films at the theatre was reduced to merely “watching” them on a laptop or waiting to view the next episode on the TV. Still, I managed to watch Fargo (4) and Snowpiercer (1) on TV, and then watched Midnight Sky and Mank on premium channels. Both Midnight Sky and Mank are worthy films. Mank has a shot at a Best Actor Oscar for Gary Oldman’s role as screenwriter Herman Mankiewicz. David Fincher’s black-and-white story behind the creation of Citizen Kane reveals how one of the greatest films ever made was the result of determination (Orson Welles) and perseverance (Mankiewicz) as it suggested the often unflattering experiences of a very

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MarketsMore

  ONLY TWO WEEKS AGO, when I posted The Sun, the Moon, and the Truth (https://www.moviesmarketsandmore.com/1838-2/), it hadn’t occurred to me that the financial sector might slip in at the back of the alternate reality parade and march into make-believe with other swarms of society.  In hindsight, there was already a “mania for the ages” in progress (https://www.moviesmarketsandmore.com/a-mania-to-rule-them-all/), and what is a mania if not an alternate reality and a distortion of truth–in this case truth as value?  One source I trust cited a pandemic-induced surge in day-trading as a source of fuel for the markets (most day-traders play the “long” side only–they are buyers who follow an uptrend or  “momentum traders.”).  This surely helps to explain the near vertical rise in the S&P500 index

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IN THE COLLEGES where I learned and taught, students were required to write papers and reports to demonstrate their understanding of topics or concepts. The emphasis was always to support a premise or an argument using credible sources: facts and authorities, proven theories or accepted logic, studies, and experiments. The strength of a paper or report relied upon the foundation of existing knowledge–of Truth.  Almost all we  can point to as human progress is a result of the process of establishing what is True and then building on it. The structure of human advancement is a citadel atop a mountain of Truth. Certainly the leaps in sciences could not have occurred if we had designed our cars and boats and planes  based on how we

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