Welcome back to Weekend Insights, your LCI “President’s Corner” of miscellaneous articles, events, books, vids, and whatever else I’m thinking about…
Markets were largely in turmoil this week, with some pretty wild price action especially in crypto. But don’t forget…
In early 2013 the BTC price peak was $233, and it fell back to $65, down 72%.
In late 2013 it hit $1200 and then fell to $170, down 85%.
In 2017 the price peaked at $19k, then it crashed to $3200, down 84%.
The most recent high was $69k, so even at $18k we’re down 73%.
In other words, this isn’t that unusual. Yes, it’s exciting when it’s up, now it’s time to exercise those low time preference muscles and soberly look at the situation.
Epic headline of the week: U.S. Spent Over $21 Billion on Afghan Police, Got ‘Barely Qualified Mall Guards’. Now I need a t-shirt that says “I spent $21 billion in Afghanistan and all I got was this lousy Mall Cop Uniform”.
Really interesting interview with Nick Gillespie and Michael Heise of the LP’s Mises Caucus.
Cheers, and have a great week!
As always, don’t forget to check out our book Faith Seeking Freedom! We’ve got special packs of books available in our online store for below $10 a copy. Great for giveaways and you’re supporting a great cause.