The United States and Israel have each had (and are having) their experiences with socialism. One country learned its lesson (at least once upon a time), while the other did not.

The tech sector in the US has benefitted from more than a decade of ultralow interest rates and easy money. But now it looks like the easy-money era may be ending—at least for now—and that means problems for the sector so long wedded to cheap loans.

Check out this clip from Caitlin Long of Custodia Bank at a Bitcoin conference last year, explaining the dangers of highly leveraged crypto exchanges like FTX. Long calls out the practices of Sam Bankman-Fried, while sharing a stage with the disgraced crypto trader.

A fallacy is defined as a mistaken belief or a failure in reasoning. Though most people try to avoid mistakes, no one is infallible, not even those who act like they are.

You can download a chart of common fallacies here. The online chart is hyperlinked to each of the fallacies.

I break fallacies into two major groups:

First, we have traditional fallacies you might remember from philosophy 101. In these, the reasoning is obviously absurd, though we might be at a loss to explain the specific violation involved:

As mortgage rates have risen this year, the buyer demand for homes has fallen. That has spelled trouble for the home construction business. Homebuilder confidence dropped for the tenth straight month in October. The decline in builder sentiment reflects what economist Ian Shepherdson describes as “housing … in free fall.