James Karn

Less is more. Panamerica Commodities LLC

[Paul Graham @paulg]

Fighting wars against determined opponents turns out to be harder than bullying allies.

[James Karn @James_Karn]

@PeteHegseth You left out “exceptional hypocrite.”

[Dimko Zhluktenko 🇺🇦⚔️ @dim0kq]

Trump: Would you go to Moscow?

Zelensky: It's difficult. There are a lot of Ukrainian drones there. It's dangerous

Absolute banger, it's legendary to be speaking with former BEST Ukrainian commedian 🤣🤣🤣

[James Karn @James_Karn]

@Maine3XVision Go on strike for what?

[James Karn @James_Karn]

@TheFl0orIsLaVa @petite_michelle I want one!

[James Karn @James_Karn]

@MLGW For the 20th something time, I am reporting the same breaker that has knocked out 1 phase of our power. Why does MLGW refuse to fix this problem? Commercial Pkwy @ Gateway

[WarMonitor @TheWarMonitor]

@TreyYingst Can't believe a word he says.

[James Karn @James_Karn]

@PiQSuite Is there a new book? Who are the bs merchants?

[James Karn @James_Karn]

@johnarnold Cheating, fraud, corruption, etc., has been normalized in America.

[SK Media @SpaghettiKozak]

What a sad, pathetic character. He's saying all these elections are rigged, some of which happened on his watch, and not a single person has been indicted for rigging them.

[James Karn @James_Karn]

Why do so many people not understand this?

[John Arnold @johnarnold]

'@BrianCAlbrecht writes a very good post on why a tax on compute, an idea I think is worthy of consideration, is bad based on economic theory. I trust Brian's reading of the econ literature. That said, tax policy is not just maximization of economic benchmarks. That process led us to the globalization era that grew the pie but created a lot of 2nd order effects and proved politically unsustainable.

I think you have to add stability, equity, distributional concerns and social cohesion, among others, to the list of criteria on which to judge tax policy. We can try to get cute by maximizing the pie and redistributing, but the record on that isn't great.

I would not tax compute today; the industry is still in its infancy. Policymakers should wait to see how much AI augments vs displaces work. And, it's not clear if a compute tax could be administered with any integrity. That said, AI maximalists think disruption could happen very quickly so we should start debating potential responses.

Brian writes, "The current U.S. tax code already implicitly penalizes labor relative to machines." We fully agree there. Every idea to address AI will have tradeoffs. We need to be having those debates. I'm not wed to a compute tax or equalizing tax rates on labor and capital, though they should be in the quiver.

Other ideas include UBI, wage insurance, large scale workforce retraining, shorter workweeks, expanded social insurance, and giving people equity in AI. There are problems with all of these. Each has tradeoffs or limited efficacy if the AI maximalists are right. And if they are, and they've mostly been right thus far, doing nothing will not be an option.

[John Arnold @johnarnold]

'@BrianCAlbrecht writes a very good post on why a tax on compute, an idea I think is worthy of consideration, is bad based on economic theory. I trust Brian's reading of the econ literature. That said, tax policy is not just maximization of economic benchmarks. That process led us to the globalization era that grew the pie but created a lot of 2nd order effects and proved politically unsustainable.

I think you have to add stability, equity, distributional concerns and social cohesion, among others, to the list of criteria on which to judge tax policy. We can try to get cute by maximizing the pie and redistributing, but the record on that isn't great.

I would not tax compute today; the industry is still in its infancy. Policymakers should wait to see how much AI augments vs displaces work. And, it's not clear if a compute tax could be administered with any integrity. That said, AI maximalists think disruption could happen very quickly so we should start debating potential responses.

Brian writes, "The current U.S. tax code already implicitly penalizes labor relative to machines." We fully agree there. Every idea to address AI will have tradeoffs. We need to be having those debates. I'm not wed to a compute tax or equalizing tax rates on labor and capital, though they should be in the quiver.

Other ideas include UBI, wage insurance, large scale workforce retraining, shorter workweeks, expanded social insurance, and giving people equity in AI. There are problems with all of these. Each has tradeoffs or limited efficacy if the AI maximalists are right. And if they are, and they've mostly been right thus far, doing nothing will not be an option.

[Jay in Kyiv @JayinKyiv]

Trump's aim now is to get Ukraine's drone tech by withholding the Patriot air defense ammo and pass that tech to his sons' newly setup companies.

Anyone doubting that Trump's kids will immediately pass that drone tech to the Russians is smoking crack.

[James Karn @James_Karn]

@ProfAnalytics @CFTC @MichaelSelig We are long past the point of a blue ribbon panel. Confiscate the profits and put some people in jail. Which we failed to do in the GFC and it has only gotten worse. Today you can simply buy a pardon. The US is now the most corrupt developed nation.

[James Karn @James_Karn]

I’m never really confident, but I’m pretty confident you can replace the word “seems” with “is” in John’s statement. Most people don’t understand the gravity of the consequences. Once traders see greater integrity in other countries, they aren’t just going to return to the U.S.

[John Arnold @johnarnold]

Between stock trading by federal officials, insider trading in prediction markets, fixed sporting events, and suspicious moves in energy, integrity in markets feels lower today than at any point in the modern era.

[James Karn @James_Karn]

@VinceBroderick2 @Stanehill @Microinteracti1 The 40T went to the top 1% of Americans, bailout after bailout and one special interest policy financed by corporations after another. What you fail to recognize is Trump has killed the U.S. defense industry as our former allies buy European over American. Another Trump blunder.

[Paul Graham @paulg]

What? It's not sufficient to park their money in an index fund or a blind trust? Lawmakers need to be active traders to take care of their families?

[James Karn @James_Karn]

@kannbwx So you are saying that you believe the White House numbers in their statement on Chinese purchase targets as a matter of fact? Could you please do us a favor and contact the Chinese government and get a statement from them on their intentions?

[Gandalv @Microinteracti1]

America lecturing Europe on prosperity is a broke man in a repossessed Bentley screaming at his neighbour about the hedge.

Your GDP is huge. So is the 40 trillion in debt holding it up.

Your bridges are collapsing, your roads belong in Lagos, and your city centres are dead malls patrolled by fentanyl ghosts and the occasional shooter.

Your life expectancy is stuck in 1974. Your kids learn active shooter drills before the alphabet. Your workers do 90-hour weeks across three jobs before checking out of the planet early.

Your mothers give birth and clock back in the next morning with the umbilical cord still attached. Your big holiday is four days in Orlando.

Europe just quietly wins every ranking that matters, from healthcare to happiness to not dying in an ambulance bay because the deductible was too high. Try it sometime.

The ambulance ride is on us.

[James Karn @James_Karn]

@carlosecarlos04 @ak_mack You’re fine with starting a war with Iran however. Israel didn’t talk the Trump regime into getting into this mess, forcing the American taxpayer to support Israel’s war. That’s all fine, right?