RT @steve_hanke: To those constantly nagging about "the rich getting richer and the poor getting poorer," look at this chart. Free markets & enterprise is the single greatest system for alleviating poverty ever created.
Every year wildfires in Canada release more carbon dioxide than any carbon capture project can sequester. That's besides destroy communities and businesses.
Instead of investing in wildfire fighting capabilities to protect the environment and Canadians, the Liberals will spend $20B+ on a project that will do neither.
You must understand, it's not about the environment its about engineering a new mechanism for wealth transfer and controlling capital flow. Environment is just the excuse for the headlines.
One of the greatest achievements in human history:
In 1990, 44% of the world lived in extreme poverty.
Today, it’s down to 10%.
The world is far from perfect, but this is what extraordinary progress looks like.
The biggest cheat code on the planet is internalizing that nobody cares about your life...People think about you for one second and then think about themselves again. So you might as well do what you want.
In October 2023, 108 economists, including Thomas Piketty and Gabriel Zucman, signed an open letter warning that Javier Milei would devastate Argentina if he won in November.
Major outlets treated it as settled consensus.
He won, and this is what actually happened. 🧵
Top personal income tax over 50% is robbery, not taxation.
Would you want to work harder and create jobs for others if most of your extra income would be taken away and redistributed to people who don’t want to work?
How is this fair?
The free market is not the biggest enemy of socialism, its biggest enemies are reality, facts and data.
Socialism has been tried many times and always led to poverty and misery. Why do so many people still follow this failed ideology? Can you take them seriously?
Every ‘equal society’ in history ended the same way: with force.
You cannot redistribute productivity without coercion.
That’s the part radical socialism never admits.
The more 'equality' you want, the more authoritarian it must become to enforce it.
Food for thought
America at 250: Museum or Nation?
Donald Trump saw the decay early, and was willing to fight it.
America is approaching 250 with a question larger than any election cycle: Is it still a living republic, or has it become a managed inheritance drifting toward elegant decline?
The anniversary will not just be a birthday; it will be a verdict on whether the United States still intends to choose its own future.
Oswald Spengler warned that civilizations decay when faith gives way to technique, when politics becomes administration, and when ruling classes lose the will to defend what made their civilization worth inheriting. Look at the European Union and the pattern is easy to see: technocracy without vigor, regulation without purpose, procedure without renewal. It manages decline; it cannot reverse it.
The United States has been moving in that direction for years: deindustrialization, open borders, elite detachment, strategic drift, and a governing class more comfortable managing national weakening than challenging it. Donald Trump recognized that decay earlier than most. More important, he was willing to say out loud that it was a choice. He saw that a nation cannot survive if it gives away its industry, dissolves its sovereignty, and treats energy dependence as moral progress.
But America has one resource Spengler did not fully account for: the American jeremiad. A political and social tradition that treats national failure not as proof the country is a fraud, but as proof it has betrayed a real promise and must recover it. Trump instinctively spoke that language. His deepest offense to the caretakers of decline is simple: He refuses to treat the Constitution’s call to form “a more perfect Union” as a museum text. He treats it as a marching order, and acts as if borders, energy, industry, and sovereignty still belong to a people who mean to perfect their Union, rather than preside over its managed decay.
That is why the coming midterm elections matter so much. They are not a pause between presidential choices. They are a national referendum on whether the work of reversing decline continues, or is handed back to the managers of exhaustion. At 250, America will learn again that elections have consequences, including the ones in the middle. The choice is stark: retire “a more perfect Union” to the glass case, or live as if we still intend to build it.
You can print all the money in the world but if money velocity is not rising then Inflation will not rise sustainably.
Velocity of money has started rising in US.... and that means unless Money supply contracts ( which is still rising).. inflation will come back with a vengeance.
Over the past 30 years, the U.S. dollar lost 53% of its purchasing power.
That’s the hidden cost of sitting in cash due to inflation.
Keep what you need for an emergency in cash and invest the rest.
Inflation is the silent thief.
Over the last 30 years, it cut the value of $1 in half.
But $1 invested in the S&P 500 became nearly $9 – AFTER adjusting for higher prices.
That’s the power of ownership.
This is probably the wildest data point you'll see today. The cost to a French employer of a net pay of €39k is a staggering €95k. How is this even possible?
Can you imagine the incentive to replace French jobs with AI and robots? Get some popcorn.