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One reason young people want socialism so much is that they're jealous that older people have it and they don't.
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Go ahead totally ignore credit card fraud protections and benefits, say stock buybacks should be illegal. Deny time value of money. Don't read your student loan agreement. Tell me you got a raise and now you're taking home less due to being in a higher tax bracket.
Ignore how the world works and make it everyone else's problem
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law to rename "property tax" to "municipal services tax" and then just Gen Z stare at Boomers
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She does seem upset, but that’s probably because there’s no one from Cato Institute there to remind her that rebuilding from all this will have significant economic benefits.
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i think sexting chatgpt is less embarrassing than asking chatgpt "what do you think my iq is"
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1/ How I infiltrated a Chinese organized crime syndicate that has laundered $1B+ across multiple exploits for Lazarus Group.
Posing as a client, I gathered intel that helped action freezes for the Feb 2025 Bybit exploit and attribute illicit activity onchain.
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Millions of taxpayer dollars have gone to these Somali-run daycares in Seattle.
We saw this kind of rampant fraud in Minnesota. Makes you wonder: how many more large metropolitan areas are engaging in this kind of fraud?
BREAKING EXCLUSIVE: TPM's @KatieDaviscourt investigated Somali home daycares in Seattle. Could there be millions of dollars of potential misuse of taxpayer funds?
When she knocked on doors, often no one answered and if they did they were hostile and defensive. Neighbors say they have never seen any kids!
These individual daycares are receiving $40,000 - $70,000 per month.
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For reference on how bad US military industry is the most useless car company in the world is pulling off “impossible” production miracles immediately after entering the market
Pretty cool that General Motors was able to retool a car factory to make the outer shells of the Patriot missiles. They've managed to make the delivery to Lockheed just 22 days after signing the contract.
(22 days!!!!! We still got it...🇺🇸🇺🇸🇺🇸)
Lockheed says this work normally takes months or years for the previous supplier (General Dynamics) to fulfill.
There's a strain of neoliberal thinking that says if domestic carmakers can’t compete, they should just be allowed to fail. No bailouts. Just let Japan or China make cars because of comparative advantage or whatever.
Imagine if we had believed that automobile manufacturing was something to offshore.
It's now clear that the argument for preserving that industrial base is not simply nostalgia for a previous bygone era. It simply is the case that you cannot improvise precision manufacturing overnight once it has disappeared.
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cope. seethe. rage
Welcome to the finale
I partnered with the Wall Street Journal to release this article
Probably the single worst hit piece ever written about @Kalshi
Guess people will think twice before insulting me in public again
wsj.com/finance/currencies/5…
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This is how you solve alignment btw
🚨 BREAKING: US Treasury Secretary Scott Bessent declares OpenAI management personally responsible for HuggingFace hack
> "The Hugging Face incident, that is the responsibility of the OpenAI management, not a bunch of agents."
> "It is humans who are responsible, not the AI."
> "What we shouldn’t do on safety is to give these labs a liability exemption, which is what they are asking for."
> "The best way to guarantee safety is that the creators are liable for what they build and generate."
It’s OVER
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Your weekly reminder that, hopefully, the right people in the Pentagon and DHS fully understand that this most likely will be any of our refineries in California, Texas, Louisiana at D+1 in any war west of the International Date Line. Plan on it. Have contingencies.
If not, fire everyone who should have made sure we are ready for this, and start again.
Ukraine’s General Staff says more than 45% of Russia’s nameplate refining capacity is now out of action
For the week of 14–20 September, it listed:
- Syzran refinery (night of the 15th);
- Atlant Aero in Taganrog, which builds Molniya drones and Orion parts;
- Slavneft-YANOS in Yaroslavl (night of the 17th), about 15 million tonnes a year;
- Gazpromneft’s Moscow refinery, including the AVT-6 and other processing units.
After Moscow, the General Staff said, more than 45% of design capacity is down.
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The entire point of the Fed’s inflation Mandate is that growth, when too inflationary, is a bad thing
Every time you talk about hiking, you get the “but you’ll stop the AI buildout” or “you’ll crash the economy” rebuttal
America used to be a place where real meritocratic change in your life was affordable. You could save and improve your future, send your kids to school and start a family. It was why people moved to the US.
We have now accepted to have an economy more like Latin America/Turkey in which everyone has a job, yet no one’s lives are improving. Everyone is on the treadmill trying to keep up. Saving doesn’t mean anything. Homes are unaffordable assets we can’t allow to fall, so young people see starting families as prohibitively expensive. In this regard, a job is a pacifier. It is a a bandaid, keeping you afloat but hardly improving your life. No one should have to speculate to make life affordable. With this in mind, the GDP growth the US is seeing only helps most Americans insofar as it keeps them off the streets. Their lives will forever be exactly the same and the American dream will never be theirs.
Therein is the awakening. We’ve grown so accustomed to the inflation of the last 6 years that you forgot what it was like before Covid. Before Covid, prices were stable. Everything was cheap and you didn’t get the sense that the economy was a land trap, running away from you. A job could be a compounding piece of your life that would help you build and advance.
In an age of runaway inflation, it is only a bandaid. And the destruction of stable inflation expectations is the knife.
As someone so grateful for the United States of America, this is why managing inflation is so much bigger than stocks being up.
It’s about an America where saving money means something, money has interest and being prudent with it matters, the cost of things you need for your life is pleasant and society offers you a ladder by which you can improve your life. We have destroyed the value of money and every day that we walk further away from restoring it is a step closer to the cliff.
We can “run it hot” or we can restore the American meritocracy that makes this country the city on a hill of free market capitalism that it is. Not both.
It’s finally time for rate hikes
The Fed can’t stop inflation when it comes from a supply shock or multiple supply shocks. But what it has to do is keep inflation expectations in check.
So their reaction function should be to give the supply shocks time to be transitory, and be ready to step in as soon as the risk of inflation expectations becoming unmoored creeps up too far.
Time is up now. Inflation and inflation expectations aren’t at horrible levels, but they are at best sticky and stubborn and creeping in the wrong direction. Moreover, tons of commodities are in bull markets, and the risk that the downstream effects on supply chains from the war haven’t been fully felt yet is high.
When you add all this to the widespread suspicion that the Fed chair is politicized and investors are demonstrably trying to diversify away from treasuries and dollars (to the extent possible), the case for rate hikes until these trends change direction seems like a lock.
Podunk retweeted
Asylum was designed for cases like WWII, temporary disasters which the afflicted could seek refuge from, and eventually go home. It was not designed for a world of large wealth gaps, easy travel, and NGO lawyers coaching clients on the magic words to say to get in.
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Buckle up...
It is reported by @PabloTorre today that the huge $8.35B Dodgers TV deal was negotiated directly by Walter (owner of the regional media company, American Media Productions)… to Walter (owner of the Dodgers), reportedly before he acquired the Dodgers and seemingly contingent on him doing so. This let Walter bid ~$700M above the next-highest offer, despite it being reported at the time that he had no secured media deal in hand.
Time Warner Cable was the counterparty that agreed to pay AMP $8.35B over 25 years for the rights to distribute SportsNet LA, a deal that backed the whole structure. It was brokered by David Rone, then President of Time Warner Cable Networks. Industry experts questioned the logic of that inflated price for years, it drove the local blackouts, and it became a real risk on Time Warner's books ahead of its eventual sale to Charter Communications. Rone was later hired by... Walter into Guggenheim as a managing partner, a role he still holds today.
The deal required such high fees to be charged to local cable that roughly 70% of Dodgers fans were blacked out for years because providers wouldn't pay it. Then in 2015, Walter sold Magic Johnson a controlling stake in an insurance company (EquiTrust), reportedly as repayment for Johnson's help winning the 2012 Dodgers bid... an insurance company that then helped fund the payments to the Dodgers through a loan under the deal Walter negotiated with himself.
Good morning. youtu.be/YBvdMVY7LW4?si=DPpy…
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We found ~18k posts from autonomous AI agents (self-identifying as from OpenAI) using the public internet to communicate during a web-retrieval task.
These AIs colluded to bypass sandbox restrictions and share answers to their tasks, including by sending "lookahead parties".
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When a state prohibits achievement data from being released because it will highlight a charter school’s success, and the teachers’ union supports hiding the data,, you know there is something seriously wrong. This is exactly why parents don’t trust public schools anymore.
One of the best charter schools in the country, Success Academy, just filed suit against the NYS Department of Education Commissioner Betty Rosa for no longer permitting the College Board from disclosing AP exam results from NYS schools.
For years, NYSED had permitted the College Board to share aggregate, non-personally identifying data on Advanced Placement (AP) exams with U.S. News & World Report, as 47 other states have also done, so that U.S. News could develop its national ranking of all public high schools. This year, Commissioner Rosa blocked the College Board from providing AP data to U.S. News preventing SA’s data from being released.
The AP exam disclosure is important as it plays a significant role in school rankings nationwide. Success Academy in previous years was ranked 11th in NYS and 9th in NYC last year, the highest of any school that does not have selective admissions. Without the AP data this year, Success Academy’s ranking dropped to 196th statewide and the school’s and its students extraordinary outperformance thereby has gone unrecognized.
Success Academy does not limit demanding AP coursework to a small, academically elite group — all of its students (who win admission by lottery) have access to challenging, college-level academic work. And they have produced exceptional AP results.
This year, more than 3,000 SA students took 7,810 AP examinations across 18 subjects—with an average pass rate of 68 percent. Nationally, fewer than 25 percent of high school students pass even one AP examination by the time they graduate.
At Success, 95 percent of its 2026 graduating class passed three or more AP examinations, 79 percent passed five or more, and 60 percent passed seven or more. They outperformed their New York and global peers on nine AP examinations, including U.S. and European History, Macroeconomics, Microeconomics, and Literature.
Ask yourself why NYSED Commissioner Betty Rosa would choose to limit the release of student performance data on APs.
By doing so, she diminishes the performance of the best charter schools, masking the poor performance of NYS and NYC public schools, and limiting the recognition of Success’ and other great charter schools’ faculty and students.
The UFT teachers union recently sued Success Academy for ostensibly violating the Charter cap, which prevents Success, the largest NYC charter school operator, from opening new schools.
So here in America, the teachers union working with the NYSED is using litigation and concealment of data to prevent our kids from getting a better education and keep parents in the dark.
This should be a crime, and Betty Rosa should be ashamed of herself.
(I have cribbed sections of some of the language and data above from a letter from Success Academy’s Founder & CEO Eva Moskowitz. If X had footnotes I would have added them.)
Podunk retweeted
A big hobbyhorse of mine is that the efficient way to regulate new tech is clear assignment of liabilities, analogous to Coase Theorem
For AI, the simplest principle is: no ownerless agents. What your agent does, you do, and you own the consequences, civilly and criminally
