“today I feel like a grifter” says Gianni Infantile as he considers attempt to sell off part of the World Cup, which could coincidentally make him even richer. Per @martynziegler
Expect to see a 64 team competition every two years as ‘investors’ get their teeth into the game
A Brown professor gave his students a take-home midterm exam. After suspecting many cheated using AI, he made the final in-person. The orange dots are the midterm scores and the gray dots are the final scores. Looks like all but 3 cheated on the midterm.
An American president threatening the death of an ancient civilization is in some ways the end of the 250-year moral experiment of a constitutional republic that the framers saw as a model for all mankind.
Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt, which is now about 6x of the money taken in, 100 percent of GDP, and about $230,000 per American family, will rise over ten years to about 7.5x the money taken in, 130 percent of GDP, and $425,000 per family. That will increase interest and principal payments on the debt from about $10 trillion ($1 trillion in interest, $9 trillion in principal) to about $18 trillion (of which $2 trillion is interest payments), which will lead to either a big squeezing out (and cutting off) of spending and/or unimaginable tax increases, or a lot of printing and devaluing of money and pushing interest rates to unattractively low levels. This printing and devaluing is not good for those holding bonds as a storehold of wealth, and what’s bad for bonds and US credit markets is bad for everyone because the US Treasury market is the backbone of all capital markets, which are the backbones of our economic and social conditions. Unless this path is soon rectified to bring the budget deficit from roughly 7% of GDP to about 3% by making adjustments to spending, taxes, and interest rates, big, painful disruptions will likely occur.
A lot of people have asked me if I will get involved in the NYC mayor race by supporting a candidate that can defeat Zohran Mamdani. TBH, I’m torn and undecided. Like every other city run by democrats, NYC is a broken kleptocracy. Taxes are astronomical and services are pathetic to nonexistent. Anarchy and socialism are the next logical steps in this story arc. It's what the people of NYC have been asking for for years and it looks like it's what they are about to get. Trying to fight against this tide seems like throwing good money after bad.
It appears things will have to get worse in NYC before they get better. The Zoomers and Millennials need a refresher on the outcome of Marxism and socialism. They are too young to remember the crack and crime epidemic and murder sprees of the late 80's and early 90's. The squeegee men, graffiti, mugging, lawlessness, chaos, and pandemonium. Streets that were too unsafe to walk alone at night or even during the day. Getting mugged on the way to and from school was not just a rite of passage, it was an inevitability.
The Wall Streeters, financiers, and hedge funders have been too busy working on their fishponds and climbing the rungs of polite society to remember to protect the system that allowed them to achieve their success in the first place and allowed New York City to once become the greatest city in the world. Not ruffling feathers was more important than questioning the ideological insanity being taught in the private schools and universities that they sent their kids to. All that mattered was fitting in and getting invited to the right dinner parties.
Now their kids are indoctrinated NPCs, always protesting and supporting the current thing. Like their parents, they too want to fit in. To do so, they unironically exchange bromides and platitudes on the benefits of socialism over rosé brunches in the West Village. Because their friends hate America and capitalism, they do too. It never dawns on them that their lifestyle and studio apartment that their parents subsidize are all made possible because of capitalism.
This delusional thinking was ingrained in them at an early age by institutions that were captured by insane ideology and left unchecked by their grossly negligent parents. Instead of providing their children with immunity from stupid and provably bad ideas that have only led to misery and death throughout history, these parents shrugged it off as kids will be kids.
Now these kids are adults who can vote, but are totally unequipped to do so. In many ways it’s not their fault. From their parents, they learned some combination of magical thinking, preference falsification, and an inability to stand up for anything greater than themselves. As a result, they never learned how to think critically or independently. They never learned the value of Western civilization so they don't understand why, or know how, to fight for it.
Sometimes the only way to learn something is to learn it the hard way. Sometimes the only way to learn the value of what you have is to lose it. If that’s the case, Marxism and socialism might just be what the doctor ordered.
“It is extremely alarming that the only candidates who genuinely excite our voters are the ones making absolutely insane promises on politically toxic positions,” one Dem strategist tells Playbook’s Adam Wren. “Leaving us in the spot of trying to execute on bad policy and losing terribly, or failing to keep our promises and reinforcing the idea that all politics is bullshit.”
--@politico
Apropos of nothing:
The NYPD commissioner is a hyper-competent female technocrat in the Bloomberg mold—deeply experienced in government, heir to a vast family fortune, holds double-digit favorables, & praised by Cuomo, Adams, Lander, Sliwa, & just about every other NYC official
it is vitally important for america that mamdani get elected mayor of NYC. he can help maximally and swiftly tax the rich, stand up govt-run grocery stores, eliminate the police force, freeze rents, and make public transportation free..
it’s unlikely that taxing the rich will cause them to move to other cities (collapsing nyc tax revenue), or that city-run grocery stores will fail to increase fresh vegetable consumption in the inner city, or that elimination of the NYPD will cause a rise in crime and decline in quality of life, or that freezing rents will drive landlords to dump properties (collapsing prices and property tax revenue), or that free public transportation will result in union-led kleptocracy. no way. i’m sure this time socialism will be different…
if Americans don’t want to learn the lessons of socialism’s failures elsewhere, we should aim to learn them here as quickly as possible.
let’s make sure one or two cities and states fall apart fast so the rest don’t have to.. elect mamdani!
after accruing $2 trillion in student loan debt, that they will never be able to pay down, it’s no surprise “the college educated in nyc are supporting mamdani 61-39”. the current system has failed them.
but the truth is, more government may not be the answer when too much government (indiscriminate federal student loans regardless of cost or quality of degree or institution) may have gotten them to this moment.
a gentle reminder, though, that an articulate ignoramus isn’t more correct than his less charismatic/authentic political rival. facts, data, truth still stand above theory, innuendo, and bullshit. socialism won’t work. if we have to re-learn that lesson the hard way, let’s do it fast and elect mamdani.
Losers tonight:
• The working class of NYC
• The Jews of NYC
• The NYPD
• The future of NYC
• The traditional Democratic Party
• America
Never tell me again how the socialist/Hamasnik wing of the Democratic Party is an unimportant fringe.
what’s tragic isn’t only that mamdani won it’s that this was the best alternative the system produced.
you don’t beat populism with legacy. you beat it with real competence, & vision.
but instead it was cuomo. cuomo. that’s malpractice. democrats learned nothing from kamala.
Fascinating to see new yuppie NYC transplants gush over voting for Zohran while multi-generational, working class black and brown New Yorkers plug their nose to vote for Cuomo instead.