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The Four Horsemen of the Great Ravine, Part 1

By Ben Hunt | 16 Comments

Every so often, things fall apart.

In the words of those who lived it, here are the vibes and the semantic signatures of the twentieth century’s most devastating social collapses.

From the meaning in their words, wisdom for our future emerges.

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Why Am I Reading This Now? 01.06.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 12.30.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 12.23.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 12.16.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 12.09.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



In Praise of Bitcoin

By Ben Hunt | 62 Comments

What made Bitcoin special is nearly lost, and what remains is a false and constructed Narrative that exists in service to Wall Street and Washington rather than in resistance.

The Bitcoin narrative must be renewed. And that will change everything.

Recent Notes

Stuck in the Middle With You

By Ben Hunt

There is a median narrative theorem that can serve as a central pillar of a NEW approach to social choice theory, an approach less pedantic in its assumptions about human nature and less naive in its assumptions about modes of social power.

The median narrative theorem generates powerful predictive hypotheses about elections, hypotheses that predicted Trump’s Republican primary victory in 2016 and – if current data holds – predicts Sanders’ Democratic primary victory in 2020.

The Curious Case of Candidate Sanders

By Rusty Guinn

Everyone complains that their favorite candidate isn’t being treated fairly in the media. It’s the Bernie Bros’ turn…but are they right?

You Had One Job

By Ben Hunt

Forget about impeachment and its partisan Kabuki theater. It’s a joke.

If there’s some rich dude who bought his way onto that Wuhan evacuation flight, and you know there is … if this Administration is forsaking its ONE JOB to protect American citizens, and you know they are …

THAT’S what brings down this government.

A New Road to Serfdom

By Rusty Guinn

There are many roads to serfdom, and they have all become faster and more perilous. We are walking down one of them now.

Pleased to Meet You, Hope You Guess My Name

By Ben Hunt

It’s the one thing that Donald Trump and Rachel Maddow can agree on … “who the hell cares about the budget?”

If you don’t see that every government in the developed world is about to embark on a massive deficit spending spree, with modern-day ziggurats constructed in every burg and hamlet … you’re just not paying attention.

Office Hours – 1.21.2020

By Rusty Guinn

The Drum Major Instinct

By Rusty Guinn

On MLK, Jr. Day, we present an excerpt from a powerful and under-read sermon about status delivered to the Ebenezer Baptist Church.

The Church of The Long Now

By Ben Hunt

I know, I know … it’s me being mean to Neel Kashkari again.

Sorry, not sorry. Belittlement and scorn is the only weapon we have against the creeping ensorcellment of the Long Now.

That Which We Call a Law School

By Rusty Guinn

More from the world of universities-as-guilds and the weird war between the merely rich and ultra-rich.

Shot, Chaser

By Ben Hunt

So I downloaded and compiled every SEC Form 4 filing that former Boeing CEO Dennis Muilenburg has ever made, to answer one simple question:

How much money did Dennis Muilenburg suck out of Boeing over the last ten years?

Alpha/Beta Amnesiacs

By Rusty Guinn

We are emerging from the year end, so the language shared across financial media articles is performance language. How did stocks, markets, benchmarks, funds and strategies perform in 2019?

Frequent readers will recognize Gell-Mann Amnesia as a favorite topic here at Epsilon Theory.

An Experiment

By Rusty Guinn

There is a chart I’ve been thinking about a lot lately, and I want to tell you about it. Before I do, I also wanted…

Normalize This

By Ben Hunt

I feel like the Billy Crystal character in Analyze This all the time. There’s always some mob boss politician or central banker or CEO or asset manager pinching my cheek and telling me that it’s all gonna be okay, that I’ve just gotta understand how things are.

My god, I am so tired of having my cheek pinched. I am so tired of being nudged in such an artless, heavy-handed way. I am so tired of being told that 2 + 2 = 5.

A Perfect Meme

By Rusty Guinn

Every day we run The Narrative Machine on the past 24 hours of financial media to generate a list of the most linguistically-connected and narrative-central…

The Long Now, Pt. 4 – Snip!

By Ben Hunt

The Long Now has severed the tether between taxation and spending – the most important macroeconomic policy relationship in our social lives as both investors and citizens.

Here’s what that means.

And here’s what we’re going to do about it.

Office Hours – 12.19.2019

By Rusty Guinn

Join us at 2PM ET on December 19th for the last 2019 edition of Office Hours for a lively – and live – discussion of the narrative intersection of politics and financial markets.

An End to War!

By Rusty Guinn

The Long Now wouldn’t be complete without the Long War. And as with every other component of the Long Now, its supporting memes are intensely cynical.

It’s Not So Much …

By Ben Hunt

If you don’t see that there is one set of rules for the very rich and another set of rules for everyone else … if you don’t see that there is an unaccountable political power that accrues to the very rich in both big social ways and in small personal ways … well, you’re just not paying attention.

Epsilon Theory: A 2019 Retrospective

By Rusty Guinn

It is our second time now to turn the lens we apply to other news sources to our own creative output. Here is a Very Epsilon Theory retrospective on 2019.

One Narrative Keeps on Trucking

By Rusty Guinn

Trucking is dying and truckers are suffering along with it. The fact that the latter is the framing being chosen for the issue should pique your interest.

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Why Am I Reading This Now? 01.06.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 12.30.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.