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POST up or GET lost

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Knapping and its consequences have been a disaster for the human race

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@Velulln @arpitrage It is a general trend. It’s not like the US is as simple as “north always richer, always vote democrat” either

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@programmadness @TMTLongShort Yes if I’m trying to sell in my national currency. “I’ll get $100B for my house and the value of that cash will halve in 2 years, so I won’t sell” is an outcome. Most big exchanged would fall back to transacting with crypto or a more stable foreign currency where available

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on the subject of US debt,

there are about 210m Americans between 18-64 yo. average pays $533k lifetime federal taxes. if we froze the debt at $40T at 0% interest and deficit balanced to 0, the average 18 yo needs to pay an extra 35% ($190k) above the prior average lifetime to pay it off over ~2 generations. That’s $4.1k more per year with a mean individual income of $70K

it only gets worse as we consider demographics, fertility, add interest, add deficit back, look at blue states/cities, non-working mothers

our options are

- massive inflation
- massive net-contributor immigration
- massive productivity gains (tech, deregulate)
- massive spending cuts
- massive tax hikes

political inaction is choosing inflation, and the only survivors of that are those who own assets

[Remarks @remarks]

JUST IN: 🇺🇸 US boomers overwhelmingly support higher taxes on younger workers to maintain current Social Security benefits, poll shows.

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autodraft fantasy team is ripping the league. might autodraft my robinhood

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@ryanburge This is seriously misleading.

"How important is the Bible in your life?"

Catholics built institutions around the Bible. Evangelicals barely do, and refer to the Bible more in day-to-day life, which is how we expect respondents to interpret the question.
https://t.co/SRM8AuCrfJ

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@PaulSkallas There were studies on direct democracies in New England. “Interest groups” overwhelmingly won. Too many issues for voters to intelligently vote on. The problem is scope of government, not shape of it

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All to say that a person peacocking to make a place *they don’t even live in* more difficult to live in as that place’s distinctive and commendable culture faces suffering, indignity, and extinction because of the very policies they’re prancing about for is gross and shameful

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Minnesota’s Northwoods and Iron Range are among the most distinct subcultures in America. Their history is truly astounding.

The region was mostly populated by French Voyageurs and Indians until American loggers arrived. But its ascent and claim to fame began at the turn of the 20th century.

Enormous and rich deposits of iron were discovered. Rockefeller amassed finances to build mines and logistics from Hibbing to Duluth to Eerie to Pittsburgh, where Carnegie turned the ore into steel and shipped it across the Midwest and Northeast to manufacturers.

The mines were tough and predominantly immigrants. It goes without saying that Northern Minnesota is a harsh environment, but people from Scandinavia to Germany to Italy and Poland were approached by recruiters on Ellis Island and had jobs waiting for them. That was their first uniquely American experience: a society producing so much and growing so fast they were searching for people to take jobs. They seized the opportunity.

The region soon became inextricable from the businesses that created it. Schools, hospitals, roads, and parks were built by the mining companies to attract and retain a working population. It was a symbiotic relationship from the start, visible in the story of Bob Dylan’s hometown of Hibbing receiving a luxurious high school in return for moving every building in the city off of an enormous deposit. Every other business was built around supporting the mines and their employees: education, hospitality, leisure, entertainment, and more.

The risk-tolerant, immigrant character of the region created lots of quirks. It was historically the highest per capita repository of American Human Capital. Children of the Iron Range would spread throughout the US during the 20th century to participate in iconic feats like the Manhattan Project, Apollo missions, and Reagan’s Star Wars.

The Iron Range produced 75% of American iron during WWII. Despite hungrily receiving vouchers for goods we take for granted like milk, eggs, and meat, their dutiful contribution to the war effort was foundational for American victory.

/

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Wholly ignorant behavior. The Iron Range has suffered and declined so much in the last 40-50 years. Its economy, community, and demographics are in the toilet. To him, it’s just a vacation spot to go canoeing, not the land of a distinct culture struggling to survive.

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Unions were very hit-or-miss early on among Iron Rangers, but that changed with time. The 60s and 70s brought huge increases in Union power. State labor laws mandated non-union employees pay union dues, making non-union membership disadvantageous and breaking a labor market equilibrium between collectivization and independent employment. Predictably, excessive and well-financed collective bargaining followed.

The most decline began when Nixon abandoned the gold standard. The ensuing inflation drove commodity revenues, especially metals, way up. Unions negotiated large increases in compensation, workplace benefits, job security, and more. Around the same time, OPEC formed an international cartel to manipulate oil prices. The costs of labor and gas rose precipitously, masked by the demand for metals.

Environmental law became prominent liabilities for mines. A panoply of new agencies scrutinized every aspect of their operation. Air and water pollution became critical legal issues that could shut down the business, and enormous pains were taken to mitigate those risks.

Then Paul Volcker was appointed by Carter. Volcker jacked the Fed’s rates up to 20%. The commodity demand that kept the mines alive during the period went out like the tide. But the costs of labor, oil, and environment regulation stayed where they were. The industry went into free-fall.

Businesses shuttered or consolidated. Hiring at survivors froze, so swaths of high school and college graduates left for opportunity elsewhere. The businesses dependent on miners and mining revenues soon followed. Automation was identified as the only saving grace, and investment pivoted away from training programs to technology adoption.

At the same time, international trade was expanded. Foreign competitors with cheaper debt, labor, and compliance began selling foreign ore or components/products made from foreign ore.

And so began the slow death of the Iron Range. 1 in 4 have since left. The remaining people skew very old. Working age folk tend to be very dependent on welfare. Deaths of despair have risen throughout. The talented engineers, musicians, and businessmen that sustained the proud culture left for better opportunities elsewhere.

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Wholly ignorant behavior. The Iron Range has suffered and declined so much in the last 40-50 years. Its economy, community, and demographics are in the toilet. To him, it’s just a vacation spot to go canoeing, not the land of a distinct culture struggling to survive.

[Rachel Bachman @Bachscore]

A man is running the Twin Cities Marathon carrying a canoe to protest a federal push to allow mining in the Boundary Waters Canoe Area in northern Minnesota. Here he is at Mile 18.

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Achilles beat me to it

[David @davidslosttt]

You see one midterm result early and it's this

What happened?

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@inspiringpics58 @Simp4Soros @akarlin ~3 days from infection to hospitalization + ~3 days to death is far from encouraging

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@NY_LBSS @MostlyMonkey Reporting originally started with a Russian regional official’s claim it may have been plague. It’s a credible concern, not some Ukrainian psy-op

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Basically, they spent centuries doing crypto proofs across church nodes to attest to a book’s validity and proximity to the Apostles. It wasn’t a “Meh. This doesn’t sound great. I don’t want it” vibe check every council

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Since names, dates, associations couldn’t be taken at face value, they relied heavily on network verification. Different churches would verify they had that book and attest to its history. Disputes scrutinized every intricacy of a text: style, contradiction, names, and more /

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Compiling the New Testament was a remarkable intellectual feat for the time. The faith was fragmenting, so they focused on the Apostolic/witness accounts consistent across the empire. They were filtering texts by dates, localism, anonymity, credibility, etc. centuries later /

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@m966021 1. Can you share? I am curious
2. We have theologians to think about such topics for us. That isn’t to say a Catholic shouldn’t seek to understand the intricacies of their faith, but relying on the dogma they’re taught isn’t grounds to denigrate.