Today Is "Bridge Day"

"It's Really Illiquid": Goldman COO Warns Retail About Private Credit And The "Perception Of Liquidity" Speaking at Semafor’s World Economy event in Washington, D.C., President and COO of Goldman Sachs John Waldron warned that some managers have oversold how easy it is to get money out—especially to retail investors, who’ve helped balloon the market into a $1.7 trillion behemoth just as the space faces growing scrutiny and tighter conditions, according to Semafor. “Not everybody has marketed their product as clearly as, certainly we would like to see with the clarity that...

When The Cost of Truth Is High, We (And AI) Lie... Authored by Charles Hugh Smith via OfTwoMinds blog, When we can no longer tell the truth because the cost is so high that it threatens our reward for compliance, we're unimaginably impoverished. Truth has an intrinsic, irreplaceable value.  There's the truth, and then there's everything else. Truth has value, and so it has a cost.  Whatever has the highest value has the highest cost, and high cost commands sacrifices. When the cost of truth is high, we lie.  And since AI is a distorted reflection of...

April Fools And The Last Supper By Benjamin Picton, senior market strategist at Rabobank Wednesday saw the unusual occurrence of three Anglosphere heads of government delivering televised addresses to their respective nations within 24 hours of each other. When news broke that Australia’s PM Albanese, Britain’s PM Starmer and US President Trump would all be interrupting regular programming to speak to their people, reactions ranged from jubilant speculation that the war is about to end all the way through to nervousness that Operation Iranian Freedom was about to be announced. Judging by...