Taft

Christian, husband, dad, engineer. Firm believer that naps should be celebrated everywhere.

[Bitcoin Magazine @BitcoinMagazine]

JUST IN: Coinbase releases new #Bitcoin commercial showing how houses get cheaper when price in BTC 👀

[Taft @TaftElliott]

@BTCTripleMatty @saylor Heyyo, @tylev 👀

[Chamath Palihapitiya @chamath]

We need every electron we can find if we are to achieve our goals in AI, manufacturing, transportation and everything in between.

We’re at a deficit on the power generation front to meet internal demand and vis a vis other countries and what they offer companies to locate within their borders.

Bottom line is we both need to go faster but also keep existing projects in flight.

More Nat Gas, more coal, more solar, more wind. If projects falls off the funding curve (ie we muck around with ITC credits or credit transferability markets), we won’t have the electricity to meet demand.

That can be resolved with brownouts and/or price increases but neither are particularly winning strategies.

[Taft @TaftElliott]

💯

[The All-In Podcast @theallinpod]

David Friedberg: How to Save Social Security Using Compound Interest

@friedberg with an incredible breakdown on E219:

"The US Social Security Program is meant to be kind of the retirement program for folks that don't have access to private retirement accounts."

"This program was set up in the 1930s after the Great Depression. There's a trust fund, the OASDI, which is the fund that they invest the capital (from)."

"So every year we all put money in with our social security taxes out of our paychecks, (which) goes in there."

"It gets invested in one thing: US Treasuries."

"Which have averaged about 4.8% return per year since the beginning of the program."

"Meanwhile, the S&P 500 has been averaging 11%."

"So here's the math: if in 1971, which was the year that we went off the gold standard in the US, if we invested the Social Security Trust Fund in the S&P, the balance of the social security trust fund today would be $15T."

"That would be roughly one-third of the value of the total S&P 500, which would be jointly owned by all Americans."

"Now here's what's f*cked up: the middle class people who had access to private retirement accounts benefited by buying the S&P 500 and the wealthy were able to access it."

"So all of the equity value that accrued from American enterprise and the prosperity of the American system accrued to the people that had access to the private accounts."

"Meanwhile, the people that only had access to the public accounts got stuck owning treasuries."

"Today, the Social Security Trust Fund has a $2.7T balance, and based on the outflows and inflows, it's going to go bankrupt in 2032."

"So I did the math: If you assume that the S&P 500 continues to grow at 10.5% per year on average, we could put about $500B in the trust fund today, and it will not go bankrupt again."

"And it will continue to grow every year. And then all Americans have participation in American enterprise."

"And importantly, this becomes the world's largest sovereign wealth fund ever. You don't need a separate sovereign wealth fund. We already have one."

"We've totally mismanaged it. And I went back to try and understand why this is the case. Why have we only ever bought treasuries? "

"Early on, the US needed someone to loan money. So they basically forced the citizens to loan the government money in the form of treasuries."

"But today, the social security trust fund owns less than 10%, about 8% of the total treasury bonds outstanding."

"So why are we forcing all the American citizens to participate?"

"Through the social security system, we've created the deep inequity we see in this country."

"If instead we had allowed the social security system to invest in the S&P 500 to buy American enterprises to fund American businesses, then every American would be wealthy and that middle class that uniquely participated by basically arbitraging the market where they forced the treasury bond yields on the poor and they got to take access to the equity yields would have not happened."

[The All-In Podcast @theallinpod]

David Friedberg: How to Save Social Security Using Compound Interest

@friedberg with an incredible breakdown on E219:

"The US Social Security Program is meant to be kind of the retirement program for folks that don't have access to private retirement accounts."

"This program was set up in the 1930s after the Great Depression. There's a trust fund, the OASDI, which is the fund that they invest the capital (from)."

"So every year we all put money in with our social security taxes out of our paychecks, (which) goes in there."

"It gets invested in one thing: US Treasuries."

"Which have averaged about 4.8% return per year since the beginning of the program."

"Meanwhile, the S&P 500 has been averaging 11%."

"So here's the math: if in 1971, which was the year that we went off the gold standard in the US, if we invested the Social Security Trust Fund in the S&P, the balance of the social security trust fund today would be $15T."

"That would be roughly one-third of the value of the total S&P 500, which would be jointly owned by all Americans."

"Now here's what's f*cked up: the middle class people who had access to private retirement accounts benefited by buying the S&P 500 and the wealthy were able to access it."

"So all of the equity value that accrued from American enterprise and the prosperity of the American system accrued to the people that had access to the private accounts."

"Meanwhile, the people that only had access to the public accounts got stuck owning treasuries."

"Today, the Social Security Trust Fund has a $2.7T balance, and based on the outflows and inflows, it's going to go bankrupt in 2032."

"So I did the math: If you assume that the S&P 500 continues to grow at 10.5% per year on average, we could put about $500B in the trust fund today, and it will not go bankrupt again."

"And it will continue to grow every year. And then all Americans have participation in American enterprise."

"And importantly, this becomes the world's largest sovereign wealth fund ever. You don't need a separate sovereign wealth fund. We already have one."

"We've totally mismanaged it. And I went back to try and understand why this is the case. Why have we only ever bought treasuries? "

"Early on, the US needed someone to loan money. So they basically forced the citizens to loan the government money in the form of treasuries."

"But today, the social security trust fund owns less than 10%, about 8% of the total treasury bonds outstanding."

"So why are we forcing all the American citizens to participate?"

"Through the social security system, we've created the deep inequity we see in this country."

"If instead we had allowed the social security system to invest in the S&P 500 to buy American enterprises to fund American businesses, then every American would be wealthy and that middle class that uniquely participated by basically arbitraging the market where they forced the treasury bond yields on the poor and they got to take access to the equity yields would have not happened."

[Taft @TaftElliott]

Primer on spent fuel at a nuclear plant...

[isabelle 🪐 @isabelleboemeke]

My photo kissing a nuclear waste cask went viral and people had… opinions about it.

There was outrage, with many claiming it was dangerous and that I was hurting my future children (lol).

Here’s why kissing a nuclear waste cask is actually fine🧵

[Taft @TaftElliott]

Unbelievable

[1819 News @1819News]

Public Service Commission approves 4.9% rate increase for Alabama Power
By @CalebTTaylor
https://t.co/45BX55AQ1R

[Taft @TaftElliott]

Very interesting way BTC is being utilized to collateralize traditional commercial financing. I'm glad the hosts slowed it down to walk through the strutcure.

[Bitcoin Archive @BitcoinArchive]

‼️This is how Bitcoin-backed loans will take over the financial system by reducing the "risk and volatility" for pension plans.

WATCH👇

[Sam Mielke @sam_mielke]

Such a great message and A+ career advice from @chamath

Worth a listen.

[Energy Alabama @energyalabama]

New Solar Tax🚨The Alabama Public Service Commission approved a new solar tax without a public hearing or comment. This tax could threaten clean energy projects and future job growth in Alabama. Read more below!

https://t.co/CU0QhpVbdj

[Taft @TaftElliott]

I watched this game with friends at the Vestavia Hills Baumhauer's with @BryanPassink and @CStewartSports live and on the call in-person. They couldn't quit laughing at how increasing rowdy the place got after each 3 made. Incredible Tide Hoops memory.

[Tide Hoops History @BamaHistory]

On this date in 2021, @AlabamaMBB stormed into Baton Rouge, La., and unleashed a 3-point shooting barrage as the Crimson Tide pummeled the hapless Tigers 105-75 in the Pete Maravich Assembly Center. Led by John Petty Jr., Alabama set the SEC record for most 3-pointers with 23.

Petty fueled the Crimson Tide with a game-high 24 points, which included eight 3-pointers, as Alabama rolled to a commanding 60-32 halftime lead. Joshua Primo and Jahvon Quinerly each followed with 22 points and six 3-pointers. Herbert Jones had 13 points and one 3-pointer. Alabama beat LSU three times this season, winning 78-60 in Tuscaloosa and edging the Tigers 80-79 to win the 2021 SEC Tournament Championship.

[Taft @TaftElliott]

@JonyIsai10 @joshdall13 🤣🤣🤣 I forgot about that

[The University of Alabama @UofAlabama]

Rush the field? More like rush the FANS 🫶

[Taft @TaftElliott]

Thanks, EA for summing up legislative issues in Alabama as it relates to renewables and EV charging access for homeowners. More costs for customers in the long run.

[Energy Alabama @energyalabama]

Alabama legislators are poised to pass an absolutely awful, no-good, very bad bill, thanks to the misleading information pushed by the Alabama Homebuilders Association.

This bill will slow growth in clean energy & cost Alabamians more money.

Learn more and take action 👇

🧵

[Taft @TaftElliott]

@EnergyandPolicy

[Taft @TaftElliott]

@onoconnor Besties!

[Richard Shelby @SenShelby]

Today I joined @SenTuberville in introducing legislation to extend the authorization of the Muscle Shoals National Heritage Area for another 15 years. From the Tennessee River to Fame Recording Studio, the landmarks and historic culture of northwest Alabama should be preserved.

[Taft @TaftElliott]

How could Luis Perez do this to Birmingham? Did the @aafiron mean nothing to him?

[Taft @TaftElliott]

@kent_frost Kent, this is a great tweet. Good job.

[Taft @TaftElliott]

@colemaniac526 Looked it up...
2019 - AU-9, UA-13
2020 - AU-5, UA-4