"The fact that countries move so much when the President threatens tariffs says something about who's bearing the tariff," says NEC Director Kevin Hassett. https://t.co/z7HftpdgWO
Bitcoin is a bet on government stupidity, especially that governments keep creating money out of thin air (debasement). Look at your government and tell me, smart or stupid? It will continue forever. Bitcoin is the safest bet I can think of.
History shows us that having too much debt during an economic downturn leads to a classic, self-reinforcing cycle where:
1) The empire can no longer borrow the money to repay its debts
2) It prints a lot of new money, which devalues the currency and raises inflation
3) Living standards decline, leading to the rise of political extremism
4) Turbulent economic conditions undermine productivity and there is conflict about how to divide the shrinking resources
5) Populist leaders emerge pledging to take control and bring about order
#principles #raydalio #history #debt
Homeownership Cost in 2021 vs 2025 is WILD:
1. 2021 Median Home Price: $346,000
2. 10% Down Payment: $34,600
3. Monthly Payment (3% interest rate): $1,313/mo
3. 2025 Median Home Price: $405,000
4. 10% Down Payment: $40,500
5. Monthly Payment (7% interest rate): $2,425/mo
Buying a home 2021 with a 30-year mortgage meant you spent a total of $473,000 in principle and interest.
In 2025, you spend a total of $873,000 in principle and interest to pay off your 30-year mortgage.
That's $300,000 MORE, or 63%, in a less than 4 year time difference.
Stimulus is the furthest thing from "free money."
@DanteMagic Best back to back games that I've seen the Magic play ever. Taking into account injuries, ejections, bad calls (I never like blaming the refs), etc - so impressive!
There’s always that one guy at the park who goes way too hard and treats random games of pickup like life or death. The Orlando Magic are 5 of these people for 48 straight mins every night.
The @OrlandoMagic overcame a 25-point deficit tonight vs. Miami to win, 121-114.
It ties the largest comeback in franchise history.
Orlando also overcame a 25-point deficit on Nov. 8, 1989 at Cleveland.