In her latest sciolistic letter to me, @SenWarren made it clear that she knows even less about foreign exchange markets than she does about banking.
What is equally shocking, but not surprising: not a single member of the media mob has a rudimentary-enough level of financial market literacy to spot her remedial error.
To reiterate: under @POTUS, the United States delivers for America’s trusted partners.
For a fuller explanation, I recommend Senator Warren take any entry level course in international finance for her and her staff, or I can personally give her a tutorial on Foreign Exchange for Dummies. Although I am not holding my breath, I hope her next letter will demonstrate that she has learned the difference between a currency purchase and a swap or a loan.
East Germany failed to “guarantee” a car for every citizen, but it succeeded in (1) proving central planners can’t innovate and (2) replicating the breadline model to everything they touch.
Because steel was never available for private citizens, the “Trabant” automobile was made out of Duroplast pressed over cotton waste and scrap.
>same timeless design for 30 years
>super innovative 23-horsepower two-stroke engine
>no oil pump so people had to mix oil into the tank by hand at every fill up because labor itself is a worthy end
And people still had to wait 10-13 years on a waitlist. 40 years by the late 1980s.
So the government did in fact “guarantee” a car for every citizen. Just not that it wouldn’t be shit. Or that they’d ever get one.
SpaceX’s road to making humanity multiplanetary is really incredible when you see the milestones together
- 2008 → Falcon 1 becomes the first privately developed liquid-fueled rocket to reach orbit
- 2010 → Falcon 9 completes its first flight
- 2012 → Dragon becomes the first private spacecraft to visit the ISS
- 2015 → Falcon 9 lands on land for the first time
- 2016 → First Falcon 9 droneship landing
- 2017 → First Falcon 9 booster reflight
- 2018 → Falcon Heavy launches for the first time
- 2020 → SpaceX returns human spaceflight to America
- 2021 → Starship SN15 completes a successful high-altitude flight and landing
- 2021 → Inspiration4 becomes the first all-civilian crew to orbit
- 2022 → Starship and Super Heavy become a full stack
- 2023 → First integrated Starship flight
- 2024 → Super Heavy gets caught by the launch tower for the first time
- 2025 → A Super Heavy booster flies for a second time
- 2026 → Starship V3 and Raptor 3 take flight
18 years of relentless iteration.
Falcon 1 → Falcon 9 → Dragon → Falcon Heavy → Starship.
Each milestone solved another piece of the puzzle
And the destination has stayed the same from the beginning:
Make life multiplanetary