Magrathea. It is one of legendary, advanced-economy planets of the human imagination sitting along side Asimov's Trantor of the Foundation Series, and Cybertron, home of the Autobots and Decepticons. Sure, there are other fabled worlds like Cameron's Pandora, Besson's Fhloston Paradise Herbert's Arrakis, but these are - let's be honest - emerging economies. What made Magrathea a galactic leader in economic complexity is that it WAS a planet-building planet.

As we learn in Douglas Adams' Hitchhiker's Guide to the Galaxy, Magrathea has been missing for five million years. By the time we join the story it is considered long dead. The only being who believed it still existed was the two-headed Galactic President / confidence man. And, after some LIGHT-piracy, MILD-conscription and heavy-improbability, our party of protagonists discover the planet all but deserted.

Actually, not deserted. Asleep. You see Magrathea's product was a "luxury commodity" - none of this off-brand, pseudo-planet stuff like Pluto. Well, "five million years ago the Galactic economy collapsed... the recession came and [they] decided it would save a lot of bother if [they] just slept through it. So [they] programmed the computers to revive [them] when it was all over... The computers were index-linked to the Galactic stock-market prices... so that [they'd] be revived when everybody else had rebuilt the economy enough to afford [their] rather expensive services."

Now dear listener, you anticipate this set up is likely in reference to our own 5-million year recession - now in its 13th year. Or perhaps a nod to our own computer modeling gone berserk. No ladies, gentlemen and galactic visitors, this 23rd episode of Making Sense is about the premature obituary. Magrathea wasn't dead, merely dozing. Our own Earthly list of rash declarations are just as entertaining.

British musician Dave Swarbrick, after visiting a local township, was declared dead by the Daily Telegraph to which he quipped: "It's not the first time I have died in Coventry." American author Mark Twain had to explain on TWO occasions: "The report of my death was an exaggeration." And who can forget King Arthur's quest for the Holy Grail in plague infested England when the Cart Master asked the village to, "Bring out your dead!" only to be presented a very alive, singing, dancing grandpa that had merely worn out his welcome at home? Well, we can add the US Dollar to that list. As Jeff Snider says, "the dollar’s not going anywhere. Except, of course, further up."

----------WHERE----------
AlhambraTube: https://bit.ly/2Xp3roy
Apple: https://apple.co/3czMcWN
iHeart: https://ihr.fm/31jq7cI
Castro: https://bit.ly/30DMYza
TuneIn: http://tun.in/pjT2Z
Google: https://bit.ly/3e2Z48M
Spotify: https://spoti.fi/3arP8mY
Castbox: https://bit.ly/3fJR5xQ
Breaker: https://bit.ly/2CpHAFO
Podbean: https://bit.ly/3enSAkr
Stitcher: https://bit.ly/2C1M1GB
Overcast: https://bit.ly/2YyDsLa
SoundCloud: https://bit.ly/3l0yFfK
PocketCast: https://pca.st/encarkdt
PodcastAddict: https://bit.ly/2V39Xjr

----------WHAT----------
Part 1 of June TIC: The Dollar What: https://bit.ly/31kjXbU
The Case of the Missing Money by Stephen M. Goldfeld: https://brook.gs/3gcX2Du
Treasury International Capital: https://bit.ly/34lykyp
Part 2 of June TIC: The Dollar Why: https://bit.ly/3iZTDJW
It’s Not As Obvious, But Stocks Are Tipped More Toward ‘Deflation’, Too: https://bit.ly/2QeZCOF

----------WHO----------
Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski, aspiring Zaphod Beeblebrox. Artwork by David Parkins, a Flying Circus surrealist. Podcast intro/outro is "By the Harbor" by Mhern at Epidemic Sound.

The Dollar's Premature Obituary 01:03:00 Share

Eurodollar University

Shownotes Transcript

The Dollar's Premature Obituary