James Bennett, a Lexington columnist for The Economist, explores the recent vice-presidential debate, analyzing J.D. Vance and Tim Walz's performances and the stakes as Election Day approaches. Matthew Holhouse, a British political correspondent, dives into the disillusionment among voters regarding Brexit and the Labour Party's evolving strategies. They also discuss the paradox of Michelin stars, discussing how such accolades can create pressure and affect restaurant sustainability while maintaining high visibility. It's a lively debate on politics and gastronomy!
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insights INSIGHT
Debate Impact
JD Vance, initially unpopular, surprised with a polished performance, effectively conveying Trump's message.
Despite this, the debate likely won't significantly impact the election's outcome.
question_answer ANECDOTE
January 6th Reminder
The debate shifted when the topic of January 6th arose.
This reminded viewers of Trump's influence and the current political climate.
question_answer ANECDOTE
Vance's Strategy
JD Vance aimed to improve his image by appearing reasonable and eloquent.
He presented a positive view of Trump's presidency, even bending facts.
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Liar's Poker is a non-fiction, semi-autobiographical book that details Michael Lewis's three-year tenure at Salomon Brothers, one of Wall Street's premier investment firms in the 1980s. The book provides a behind-the-scenes look at the culture of bond traders, highlighting the frat-boy camaraderie, killer instincts, and high-stakes games of bluffing and deception. Lewis describes the creation and use of mortgage bonds, the excessive bonuses, and the ruthless competition among traders. The narrative also touches on the author's disillusionment with the industry, leading to his resignation and transition into financial journalism.
Going Infinite
The Rise and Fall of a New Tycoon
Michael Lewis
In 'Going Infinite', Michael Lewis delves into the life of Sam Bankman-Fried, the enigmatic founder of the failed cryptocurrency exchange FTX. The book provides a psychological portrait and a financial roller-coaster ride, tracing Bankman-Fried's trajectory from becoming the world's youngest billionaire to his eventual downfall. It covers topics such as high-frequency trading, cryptocurrencies, effective altruism, and the justice system. Despite criticism for its sympathetic portrayal of Bankman-Fried, the book offers a fascinating insight into the complex world of cryptocurrencies and the character of its central figure.
The big short
Inside the Doomsday Machine
Michael Lewis
The Big Short tells the story of the 2007-08 financial crisis through the lens of several key players who predicted and profited from the collapse of the housing market. The book focuses on characters such as Steve Eisman, Mike Burry, Greg Lippmann, and the founders of Cornwall Capital, who saw the impending disaster and made significant gains by shorting the market. Lewis explains the complex financial instruments and the systemic failures that led to the crisis, making the narrative both accessible and engaging.
Moneyball
The Art of Winning an Unfair Game
Michael Lewis
The book tells the story of the Oakland Athletics' 2002 season, where General Manager Billy Beane and his assistant Paul DePodesta used advanced statistical analysis, known as sabermetrics, to assemble a competitive team despite a limited budget. The approach, pioneered by Bill James, focused on metrics such as on-base percentage and slugging percentage rather than traditional measures like batting average and runs batted in. This data-driven strategy allowed the Athletics to compete with teams having much larger payrolls, like the New York Yankees, and achieve significant success, including a 20-game winning streak and a playoff appearance[2][3][5].
After JD Vance and Tim Walz squared off against each in last night’s vice-presidential debate, our correspondent assesses their performance – and its effect on the US election. In Britain the pro-European cause is popular, but its advocates are ineffective (10:53). And why the gleam of a Michelin star may tarnish (19:18).