"Sam Altman, chief executive of the ChatGPT maker, has argued that giving the public a financial stake in the company is the best way to share the upside of AI"
... actually, it's the best way to "socialize" the $1.4 trillion in unfunded commitments
🚨 JUST IN: Gov. Ron DeSantis MIC DROPS rude and interrupting Fake News reporter whining that he's abolishing property taxes for millions of Florida homeowners
"EXCUSE ME! YOU asked the question, I'm answering it!"
"EVERY local government has a self-interest in keeping the GRAVY TRAIN [of money] going!"
"If you can't SEE that, I don't know HOW I can help you. You're going to continue to be inundated by this. They're going to tell you, they're going to tell you there's no money for infrastructure. You're not going to have any money for police, you're not going to have any money for any of these things. They are going to say that over and over again!"
"DON'T buy the HYPE that you can't do these things. I can tell you any time the property tax is put to voters around the country, you hear the same arguments over and over again."
"They are going to say, 'oh, we can't give pay raise because property tax, we can't do this, we can't do that!' You're going to be inundated with that. They're going to try to get every single person who is connected to local government to be hostile to doing things for taxpayers!"
No more property taxes! The ballot amendment will first and foremast benefit primary homesteaders based on property value.
See, I have no problem with Ro having wealth.
He was previously a corporate attorney and his wife is a successful professional as well. Good for them!
It’s the hypocrisy and his eagerness to appropriate others’ wealth that is so galling.
@PeterSchiff This would destroy the US reserve currency status. Could it happen - sure. Will it happen - only if they get every country in the world on board to do the exact same thing.
South Korean investors have never borrowed this much to buy equities:
Margin loans in South Korea are up to a record ~$26 billion, DOUBLING since the start of 2025.
However, as a % of Korea's free float, the portion of the market value available for public trading, margin loans are down to ~0.8%, the lowest since the 2020 pandemic low.
This comes as the surge in market cap has significantly outpaced the growth in leverage.
Meanwhile, during the recent market pullbacks, the daily forced liquidation ratio spiked to 4-5% of total outstanding margin loans, well above the ~1% seen under normal conditions.
This means brokers were forced to liquidate 4%-5% of all margin-backed positions in a single day because borrowers could not meet their margin calls.
Record leverage is exacerbating South Korea's market volatility.
A 25-year old married couple earning $150k will pay over $3k more in federal income tax in 2026 than a 65-year old married couple with the same income.
(note: assumes no social security - 65-year old couple is waiting to age 70 to get max benefit).
This is a fair tax policy?
While the US Real GDP report was revised up yesterday to 2.1%, pay attention to the Personal Consumption component (~70% of GDP), which shrank markedly from last quarter, and was revised sharply lower from the previous estimate.
@charliebilello Wait until they figure out which PE/PC firms are funding the data center buildouts at the currently bloated costs and blowing the ROI’s out of the water.
Raphael Warnock loves this bill because his church is a non-profit slumlord operation.
And the bill sends mountains of taxpayer cash to slumlords and nonprofits specializing in slumlord housing.
@pradeeepk It depends on your outlook of memory cost today versus then. I’d argue we are at peak memory cost so locking in those prices now is a good move IMO. I am curious as to how binding these agreements are though.
Boomers already spent their Social Security. They voted for politicians that promised them the world. All they had to do was spend the future tax dollars of all their kids, grandkids, and great grandkids. They called it deficit spending, but it was theft. Now the bill is due and they think they can take even more.
@chamath I’d argue the question is what is the ROI on that invested capital. Not necessarily the moat. I don’t believe data centers to create any sort of moat, it’s more of a commodity that is currently scarce. The problem with commodities is their scarcity can reverse quickly.
@RyanGirdusky They need our money so they will never let that happen. SS is a welfare program that makes young people pay old people but gets pitched as a forced savings program.
If you want to know why the socialists are winning NY it's because NY is already a failed socialist welfare state. 42% of NYC residents are on Medicaid. 1 out of 5 are on food stamps, 1/3 live in rent stabilized apartments, 1 out of 20 living in public housing, 1 out of 4 work for either the government or a government funded non-profit. NYC has a government budget larger than Florida. NYS has a budget larger than Texas & Florida combined. The City has fallen. The lunatics are in charge. The only question is when do they run out of other people's money.