The only surprise is that it took so long

the "fourth turning" is just astrology for men

Well done to the IMF - “Capital flow management measures” might be the most Orwellian description of Capital Controls possible.

A long ride. 🤛🏻

Good point, great book suggestion.

D.C. bar idea - with a faraday cage.

Shot clock starts for Tucker Carlson’s visit to an upmarket supermarket in Tehran.

Getting the emerging markets trade right this cycle might be the most important source of portfolio outperformance for the next decade. Get onboard.

One of the 🐿️'s smart subscribers asked me to track down the data series of real (using CPI) US CAPE earnings yield since 1900. I knew my boys at Augur Infinity would have it. Not sure a BTFD approach to the S&P makes a ton of sense here...

Fukuyama is probably the most misunderstood contemporary intellectual, but what is scary is the possibility that the below quote may also apply to the future vis a vis Ai and UBI. We may not be built for a life of free time.

Maybe next decades version of “In 1989 the land value of the Imperial Palace in Tokyo was worth as much as the entire state of California”.

Definitely challenges my expectations.

This is sadly so true!

I read the subject line and honestly thought IBKR was trying to start an intervention based on my terrible trading, “we can see all your trades, it’s even hurting us to watch, just step away from the keyboard mate, take a knee, regroup.”

Very cool large sample survey of the NYC mayoral that has a lot of rare crosstabs - Silwa’s best group being white union members is one of the most fun findings in here

This is great.

This hits hard these days: “What is raised by printing notes is just as much taken from the public as is a beer-duty or an income-tax. What the Government spends the public pays for. There is no such thing as an uncovered deficit.” ― John Maynard Keynes, A Tract on Monetary

Self driving Trucks is what scares me, I think the Teamsters will have everyone familiarizing themselves with Mancur Olson’s ideas, particularly from ‘The Logic of Collective Action’ & ‘The Rise and Decline of Nations’.

𝐏𝐢𝐧𝐞𝐜𝐨𝐧𝐞 𝐌𝐚𝐜𝐫𝐨 Mathew Casey Blustein's book (title below) was a good one too. IMO we are going to get a version of this 👇 on USD stablecoins vis a vis banks and MMF's