Michael Slattery

[Dario Amodei @DarioAmodei]

Today I'm publishing a new essay, Policy on the AI Exponential. AI is progressing extremely fast—much faster than the policy process was built to handle. The essay lays out where I think the technology is now, and the action needed to close the gap: https://t.co/Lh6PWae178

[Michael Slattery @slatterym87]

@BankofAmerica @BarstoolBigCat

[Michael Slattery @slatterym87]

@BankofAmerica I have been dealing with an issue where you are trying to force me to pay $5,000 for a fraudulent charge. This has been an issue since October, absolutely insane! Horrible service.

[Bill Ackman @BillAckman]

Rugged individualism brings a Socialist dictator to justice to be prosecuted in NY, a city now run by a Democratic Socialist who believes in collectivism.

[U.S. Department of Labor @USDOL]

Remember who you are, American.

Through rugged individualism and unparalleled grit, our Forefathers built the greatest nation the world has ever seen.

As we celebrate 250 years since our nation’s founding, it’s more important than ever that we honor their achievements and seek to build a stronger nation 🇺🇸

[Brian Armstrong @brian_armstrong]

We need more rugged individualism, not less.

Build on the frontier. Be independent. Decentralize power. Accelerate civilizational progress. Celebrate economic freedom.

[david friedberg @friedberg]

now, let’s get rid of socialism at home.

[Treasury Secretary Scott Bessent @SecScottBessent]

.@SenWarren and @SenAmyKlobuchar: you are failures.

You failed to derail the electoral success of one of our great allies in Latin America, President @JMilei. He won in a landslide with the poorest members of society voting for economic freedom—a notion anathema in particular to the Senate’s resident American Peronist, Senator Warren.

You failed to reopen the government, preventing our Administration’s efforts to get aid to American farmers, as well as our planned activation of the Farm Credit Agency to assist our farmers with next year’s crops.

As the attached photo demonstrates, @POTUS is in Asia showing what successful American leadership looks like. Today’s announcement after his meeting with President Xi will be a resounding victory for our great farmers.

While I know it will be soul-crushing for you, please re-focus your staff away from writing incoherent letters to myself and others, and instead work towards opening the government.

If you decide to further add to your legacy of failure by voting to keep the government closed over the upcoming Thanksgiving holiday, ruining the number one travel day for American families, you should both be ashamed.

P.S. I am happy to inform you both that the Argentine economic bridge has now turned a profit for the American people. While “profit” is a private sector word that you may both be unfamiliar with, I would urge you to look past your previous experience working alongside the Biden Administration’s autopenned efforts to bankrupt the US government.

[Michael Slattery @slatterym87]

@BarstoolBigCat been sitting on a United Flight that was supposed to depart a half hour ago so they can load up catering they’re just gonna charge me for. @united is a trash airline

[Ray Dalio @RayDalio]

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.

[Tyler Winklevoss @tyler]

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.

[Ray Dalio @RayDalio]

This is a great time for all involved to reconsider their approaches!  There are better and worse ways of handling our problems with unsustainable debt and imbalances, and President Trump's decision to step back from a worse way and negotiate how to deal with these imbalances is a much better way. I hope and expect that he will do the same with the Chinese, which I believe includes negotiating a deal that appreciates the RMB against the dollar, achieved by the Chinese selling dollar assets while also easing their fiscal and monetary policies to stimulate their demand. This would be a win-win. The Chinese should then restructure and monetize their excessive local government debts to get their debt overhang behind them. One way or another, there will have to be major changes to the debt/monetary orders to deal with the debt, trade, and capital imbalances problem. The next Trump administration move should be to deal with the deficit well by cutting the deficit to 3pct of GDP, which I described how I'd do without disruption in How Countries Go Broke: the Big Cycle, which you can read here: https://t.co/XlkOBUQFpw.

This is also a great time for investors who were shocked and terrified by what happened (and what might happen) to reconsider their approaches to structuring their portfolios so they don't have such intolerable risks.  I can guarantee that another worse case of the market moves that terrified them will come along eventually.

While I can't squeeze in an explanation of how to structure a portfolio here, I can direct those who are interested to the Dalio Market Principles course that the Singapore government-founded Wealth Management Institute created to help educate investors: https://t.co/k7pOBjINSO. I'm also working on my next book, Investment and Economic Principles, which I will share parts of online as I write it.

[Bill Ackman @BillAckman]

No gimp suit for me Cliff. If I were president, I would have started with a 90-day period for negotiations and then brought the hammer down.

By doing it President Trump’s way, the entire world and their citizens got to experience the visceral impact of what massive tariffs would do to their businesses, their stock and bond markets, and their economies.

From @realDonaldTrump’s approach, we were able to learn who are the preferred trade partners and who are the problems, based on who showed up early and what they offered, and who chose to retaliate.

Every country is now incredibly motivated to make a deal with us as quickly as possible to avoid the draconian consequences they will experience with no deal.

China has been isolated as a bad actor and every American company is immediately moving their supply chains out of China back to the U.S. or to trading partners of the U.S. who are likely to make favorable tariff deals with the U.S.

Time is not China’s friend. As more time goes by, more companies find other and better alternative suppliers outside of China. So China is incentivized to come to the table soon and to be reasonable in their negotiations.

The countries that showed up first and offered zero tariffs will now be rewarded with more business, motivating them to complete their deals with us promptly.

All of the above was accomplished with only a few days of market turbulence.

I am not concerned with whether this was @realDonaldTrump’s plan from the beginning. I instead focus on the outcome.

Looking at the facts objectively, the only word that comes to my mind is ‘brilliant.’

[Autism Capital 🧩 @AutismCapital]

🚨ELON MUSK: "I actually don't think pursuit of wealth is that good of a thing. They say money doesn't buy happiness, that's true. What *does* result in happiness is being productive, being useful, doing an honest's day's work, and having kids and a family. That will make you happy. Wealth will not make you happy. But feeling like you're doing useful work and have good friends and family, that will make you happy."

[Ryan Petersen @typesfast]

Duty free "de minimis" shipping is being eliminated from ALL countries as soon as the systems are ready.  🧵

[Michael Slattery @slatterym87]

#rah Shawn here with the biggest head in the room, I cant get enough of these French horns

[Elon Musk @elonmusk]

Your actions turned a bill that weighed pounds into a bill that weighed ounces!

You are the media now.

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