The Ungoverned

Thoughts on man and his universe
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  • David Veksler

Top ten ways you can appear rich even when you’re poor May 12, 2021

Top ten ways you can appear rich even when you're poor:   1: Be fit and slim: there is a strong negative correlation between wealth and obesity. Why?   Contrary to popular belief, the rich are not slimmer because a healthy diet is more expensive or they can afford personal trainers. They are slimmer because they invest more thought into what they eat. This is because the wealthy have a lower time preference: they are willing to forgo the short-term pleasure of a sugar rush for the long-term reward of truly delicious food, good health, and good looks.   In...

By David Veksler Vote1 0

What’s the dividend on Bitcoin? Feb 18, 2021

Bitcoin is an asset that does not generate any income, so many conclude that the increase in price is due solely to speculation. But that's an incomplete picture. The rising price of BTC is driven by both speculation and a dividend for Bitcoin owners. How? If you look at an asset like gold, it has value for two reasons: 1: industrial and decorative usage 2: as a store of value Both factors determine the price of gold. When industrial demand goes up, so does the gold price. It's easy to forget that Bitcoin is not just a currency, or "digital...

By David Veksler Vote1 0

Don’t panic: why Tether won’t destroy crypto Jan 23, 2021

This article by "Crypto Anonymous" claims that Tether will bring a crypto "doomsday." The author makes many good points in building his case, yet the overall conclusion is less than the sum of its parts. Here's the short version of why he's wrong: Yes, Tether creates systemic risk for Bitcoin. But the key claim that new Tethers are fraudulently created without dollars to back them is pure speculation. Furthermore, the impact of a Tether collapse decreases as the ecosystem grows, so there's no need to be "frantic" about a "crypto doomsday." Finally, stablecoins like Tether should not be confused with...

By David Veksler Vote3 0

Stimulus checks are a dangerous game Jan 23, 2021

What happens when the government sends out a stimulus payment? Politicians can print money, but they cannot wish all the goods and services that money buys into existence. They would like you to think that their money causes factories to hire workers and put idle production lines to work. But that's not what happens.   Tens of millions of employees and warehouses full of raw materials are not waiting around for stimulus money to put them to use. What were those people, factories, and raw materials doing before the stimulus? Absent government intervention, they were putting their time and capital...

By David Veksler Vote4 0

Ten Personal Finance Principles I’ve learned over 40 Years Oct 20, 2020

Now that I’m 40, I feel both qualified to drop some wisdom on the world. To start, here are my 10 Principles of Personal Finance.   1: Marry someone who shares your financial philosophy: If you don’t, you may be setting up for a life of endless conflict, not to mention the possibility of divorce, as money is the #1 issue couples fight over.   What is a “financial philosophy”? Here are some questions to discuss with your partner: * Do you want to live in a single city or follow the best job opportunities? My wife and I moved...

By David Veksler Vote3 0

Schooling fails at “socialization” too Sep 12, 2020

Unlike some animals, human beings are not born with an instinct to guide our actions.   Like all primates, we require a prolonged period of learning from role models to guide our development into civilized adults. The human phenotype can only express itself adequately in a proper social environment.   In the 1960’s American psychologist Harry Harlow proved that infant monkeys who do not receive physical affection were severely and permanently psychologically disturbed. This need does not end in infancy.   It is now widely recognized that single motherhood has been enormously destructive to American society, leading to poor educational...

By David Veksler Vote2 0

Is a “dream job” just “capitalistic conditioning”? Sep 11, 2020

This tweet raises a few questions:   Is working for the rest of one’s life a worthy goal? Is work depressing? Should we strive for a life of work or something else? Do “dream jobs” exist, and should we try to pursue them? Is the idea of a “dream job” a form of “capitalistic conditioning”? First, let’s consider the facts. 92% of Americans are satisfied with their job, and 57% said their job provides a sense of identity, while 40 percent said their job was just what they did for a living. Most people enjoy working to some extent, even...

By David Veksler Vote3 0

A random list of opinions I predict at least 95% of people will disagree with: Sep 11, 2020

A random list of opinions I predict at least 95% of people will disagree with, sorted from comprehensible to esoteric: * All drugs should be legal and over the counter. Vendors should be responsible for purity and honest labeling. * It's unclear whether global warming is bad or good for humanity. In any case, since technology can give humanity godlike power over the ecosystem in a few decades, we should be focused on economic growth and technological progress rather than worry about such trivial concerns. * The U.S. Constitution was a grand experiment by great people with the best intentions,...

By David Veksler Vote3 0

Why I support school choice Sep 11, 2020

Sending my daughter a Montessori school costs about $15,000 per year. We have two daughters and plan a third child so we may be paying $45,000 per year for some time to send three kids to private school. The cost is worth it because I do not believe that public schools are capable of preparing children for success in life. My own experience as an honors student in a "quality" public school made me hate learning, failed to prepare me for college, and was a miserable social experience. I don't mind paying for my children's education. What I mind is...

By David Veksler Vote3 0

Why I will (probably) never support a presidential candidate Sep 11, 2020

I don't think I've ever endorsed a presidential candidate, and I probably never will. Even if one party literally nominates Hitler... the other party will probably pick a Hitler too. That's how game theory in a winner-take-all system works: there are always two parties targeting precisely 50% of the electorate with nearly identical views. Marketing requires that they exaggerate the differences and focus on personalities, but in an absolute sense, they are virtually indistinguishable. If a party gains 51% if the vote, the other party will react by shifting their marketing to restore the balance. Realtime polling has made the...

By David Veksler Vote2 0

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