This short film made with Seedance 2.0 is absolutely insane.The realism looks like a real movie — no one can…
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And then Paul Jorion created a Theory of Prices
Original Post : And then Paul Jorion created a Theory of Prices.
It’s the ‘rentrée littéraire’ in France. Among the 700 books that will be released between now and the end of October -500 of which are written in French- there is one that has grabbed us. “Le Prix” (The Price) written by the economist and blogger Paul Jorion. After having published a essay…
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Kerviel’s trial in France: the question no one is asking…
An English translation of Kerviel: la question que personne ne pose posted on my French blog on June 21st. Many thanks to E-blogs for the translation.
What have we learnt so far from Jérôme Kerviel’s trial about the big questions? Do his superiors know more they pretend about the transactions he was doing? Another question we would like to know the answer: is entering fictive operations in the reporting system to hide his positions –as Kerviel says– a common manoeuvre in the traders’ world?
Is it because I had the opportunity to be a trader on…
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Le Monde – Économie, Monday 8 – Tuesday 9 March 2010
Here an English translation of La machine infernale, my monthly column for March in Le Monde – Économie.
A DEVILISH DEVICE
Only five years ago, we were led to believe that the advertised model of the economic and financial apparatus represented a system that was finally mature: stable because thoroughly predisposed to self-regulate and practically safe thanks to super-efficient risk-spreading.
Self-regulation did not happen. Risk, although atomized, was nonetheless concentrated by the more astute players into enormous portfolios of financial products with, influenced by the economic climate, inflated risk premium; an unavoidable downside correction triggered the implosion of…
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Capitalism (I) – The Veins of the Future
An English translation of Le capitalisme (I) – Les nervures de l’avenir posted on my French blog on March 2nd.
In Reason in History (1837), a posthumous work composed from lecture notes, Hegel observes that “ … what experience and history teach is that peoples and governments have never yet learned from history, let alone acted according to its lessons”. This is true: had it been otherwise, no civilization having preserved the memory of those that preceded it would ever have died.
While failing to learn from history, men have never stopped however trying to decipher it and when…
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The House is on Fire!
An English translation of Feu en la demeure !, posted on my French blog on February 25.
Ladies and gentlemen of the European regulatory authorities, I am today turning to you: the house is on fire!
Demands that Greece lowers its civil servants’ wages will not save her. Your prodding Greece to tackle tax evasion will not save her. Your offer to establish a… piggy bank (how laughable an idea!), will not save her either. All that is far too little, far too late. It is also beside the point.
On February 3rd, I happened to be one…
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France 24, « Le Débat / The Debate », Wednesday February 3d, from 7:10 PM to 7:50 PM
We will ponder: “Might the financial crisis be followed by national crises?”
Alessandro Giraudo – Chief Economist, Tradition Viel (in the studio like myself)
Ondine Smulders – The Economist (calling in from Athens)
A (to be determined) Reuters Breakingviews’ journalist (calling in from London)Podcasts :
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Polar Bear Solidarity
Conceptual artist Little Shiva who helped me design Santa Crisis last year informs me she went to Copenhaguen in her capacity of a polar bear.
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August 4th, 1789
Cityislander’s imaginative translation of “La nuit du 4 août” at the French end of this blog. Many thanks to him!
Exactly 220 years ago (the French Revolution), on the night of August 4th, 1789, the question certainly was not about systemic risk. Yet, on that very night, an event of systemic magnitude occurred: the French assembly ended the feudal system and its privileges.
Keeping this historic event in mind, we have to reflect on the fact that we have not yet fully grasped that when systemic risk became an issue in 2007, capitalism wasn’t just going through a…
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Why we need to find something else
A reader of my French blog has taken the trouble of translating my most recent Friday video in English. Many thanks to him!
NEWS is conveyed by letter, word or mouth
and comes to us from North, East, West and South” (Witt’s Recreations). . . but mostly from the Paul Jorion blog now that we have the Internet.
I want to talk to you about the stock market, because the stock market has been rising in France and in the United States. I am obliged to reflect upon this, because, as I have mentioned to you, I…
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Well! It is comments such as yours that make the trip … worthy of the trouble! 😀
When I saw your work on P vs NP, I knew you were on to something profound. I couldn’t have…
Admittedly, I was a little thrown off by the direction this took. From my perspective, you (1) identified the major…
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