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Olivier Blanchard x.com
Separate and interesting discussion. True, the ECB (BDF) is slowly reducing its holdings of sovereign bonds, including French bonds (this is called QT, quantitative tightening). By selling those bonds, it decreases their price (not very much, but a bit) and thus increases the interest rate paid by the governments of the euro zone. This indeed makes things a bit harder for the government, who now pay more on their debt. Is the ECB doing this to spite governments, or to induce them to adjust? Emphatically not. It is doing this because it wants to reduce reserves (which is what happens when it s…
interest ratesgovernmentholdings
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19 September
From one piece Better Debt 3 beliefs · grumpy-economist.com
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Their words
In QE, the Treasury issued long-term bonds. The Fed bought up the long bonds, issued overnight debt, and passed the interest difference back to the Treasury. In the end, it is just as if the Treasury issued overnight debt in the first place.
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Their words
Simplifying a bit, the Treasury should introduce a fixed-coupon perpetuity and a fixed-value floating-rate perpetuity. These should gradually make up the bulk of government debt.
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Their words
The tradeoff between cost of borrowing and how much interest rate risk taxpayers shoulder should be squarely on the shoulders of the politically-accountable Treasury not the independent Fed.
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korrents.com
Time spent on bureaucratic paperwork is a real economic cost even though it doesn't appear in government budgets.Their words
it is simply ridiculous that a ruinously expensive policy can be budget-neutral if the expense consists of wasted time rather than wasted money. But that's still a cost!
18 September
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korrents.com
A competent, empowered civil service that performs crucial government functions with in-house expertise is good.Their words
One unpopular position I’ve stuck to over the years is that a strong bureaucracy is good. I don’t mean “bureaucracy” as in red tape and regulation; I mean a competent, empowered civil service that can perform crucial government functions efficiently and well using in-house expertise. This is also called state capacity.
17 September
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Their words
Finland made great progress towards eliminating homelessness by giving people houses which they could feel was home. Alas, right-wing government has cut some of the spending and is driving homelessness back up.
16 September
15 September
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Their words
Social media is destroying out society. Quitting doesn't help because everyone else is still on it. It's a bad equilibrium. It needs to be solved with government regulations.
14 September
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Their words
that doesn't have to persist long for AI to join the ranks of systems that are important enough that there's someone senior in the government who's responsible for regulating them.
13 September
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Their words
If there really is a high chance of AI leading to the extinction of humanity within years/decades, then the only rational stance towards safety monitoring and research pacing should be stringent, top-down government involvement and universally ratified international treaties.
12 September
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korrents.com
Higher real interest rates reflect a more optimistic collective view of future economic abundance.Their words
Higher real rates mean that the average view of the future is more abundant, and that it's worth sacrificing more to get to that future sooner.
11 September
10 September
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korrents.com
The simplest explanation for rising long-term interest rates is a surge in demand for funds from the AI boom.Their words
The simplest story consistent with the facts is that we’re seeing a surge in demand for funds as a result of the AI boom.
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Their words
a hard-earned lesson of the past few months is that mobilizing collective action against the federal government is hard.
9 September
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Their words
I do not think those running the government testing understand what is going on, and believe they are reacting basically on vibes and what various trusted people tell them.
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Their words
the Trump administration's foreign policymakers are so lazy that they keep self-sabotaging.
8 September
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korrents.com
The current US government uses false antisemitism accusations to damage and control institutions it views as enemies.Their words
The Fascist regime now ruling the US both enables this and has effectively used bogus accusations of "antisemitism" to damage and exert control over prominent institutions they consider to be enemies.
From one piece Where’s the Beef (Coming From)? 2 beliefs · paulkrugman.substack.com
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Their words
It’s an administration that’s trying to turn us back to the 19th century or before. It’s really just trying to undo even the most essential functions of government.
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Their words
And this is not something that you can leave up to the private sector. It’s not something where you can do your own research. It’s a very complicated world out there. And the informational burden of trying to figure out whether the people responsible for your package of hamburger are actually following safe procedures, that’s beyond everybody.
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Their words
This is the case even though Canada gets broad access into the massive American Government Procurement Market, including those of our States. That is not reciprocity, it is a Canadian Trade Scam.
7 September
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Their words
Voting for the AfD in the current landscape, whatever your economic issues, in short, is not a vote to have your economic issues addressed by social democracy, or welfare or government intervention.
6 September
5 September
4 September
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korrents.com
A conspiracy theory can be used as a pretext to dismantle government programs and target researchers and citizens.Their words
Since 2025, MAGA ideologues have been using this alleged plot as an excuse to dismantle government programs, stifle research, intimidate American citizens, and even distort American foreign policy.
The Myth of the “Censorship Industrial Complex”anneapplebaum.substack.com
3 September
From one piece The Crisis We've Been Waiting For 2 beliefs, in the piece's order there
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korrents.com
Rising AI capability is undermining the assumptions that justify slow, manual government processes.Their words
AI creates a crisis by making the assumptions on which government operates untenable.
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Their words
Things government has long explained as difficult, expensive, or slow are going to look increasingly like choices.
1 September
31 August
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korrents.com
The US federal government will eventually impose heavy-handed control over the internet.Their words
Sometimes I get super nervous that someday the US government is really going to fuck with the web. Like they are going to decide they just don't have enough control over it and are going to get really heavy-handed somehow.
29 August
28 August
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Their words
But I think there have been enough studies now isolating those variables that show that AI is directly responsible for a lot of this job loss.
From one piece My Most Contrarian Opinion Right Now 3 beliefs, in the piece's order there
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Their words
I think the fact that the government took on debt during two crises to help households was a good trade-off.
My Most Contrarian Opinion Right Nowawealthofcommonsense.com
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korrents.com
The real danger of high government debt is the policy errors it provokes, not a debt crisis.Their words
But I am worried about high government debt levels causing policy errors.
My Most Contrarian Opinion Right Nowawealthofcommonsense.com
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korrents.com
The United States is not at risk of a financial crisis caused by the size of its government debt.Their words
So my baseline assumption is that people will continue complaining about the trillions of dollars we have in debt but it won’t lead to a financial crisis.
My Most Contrarian Opinion Right Nowawealthofcommonsense.com
27 August
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Their words
What we do know is that the actual Elon Musk that we have to live with on this here timeline was flagrantly incompetent in government, contrary to Noah's previous predictions.
25 August
24 August
23 August
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korrents.com
Most high-skilled Europeans are happy to pay even high taxes, provided the government does a great job in return.Their words
I think most high skilled Europeans are happy to pay (even high) taxes That is, if the government does a great job like Singapore or Dubai or Korea or Japan and most things work well You pay the government for a service and you get safe cities, great public services and great healthcare back
21 August
From one piece How Countries Go Broke: The Dynamic Behind What is Happening Now 3 beliefs · raydalio.substack.com
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Their words
The debt dynamics work the same for a central government as they do for a person or a company, except that a central government has a central bank that can print money (which devalues it) and it can take money away from people via taxes.
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Their words
Early in the final stage of the Big Debt Cycle, the market action reflects this dynamic via interest rates rising led by long-term rates, the currency declining especially relative to gold, and the central government’s treasury department shortening the maturities of its debt offerings because of a shortage of the demand for long-term debt.
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Their words
Because one can measure these things, one can monitor this debt dynamic happening, so it’s easy to see problems approaching. I’ve used this diagnostic process in my investing and I’ve kept it to myself, but I’m now explaining it in detail in How Countries Go Broke: The Big Cycle because it is too important to keep to myself.
20 August
18 August
From one piece Michael Kratsios: Inside the White House's AI Strategy 4 beliefs, in the piece's order there
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Their words
I think it can be a slog, it can be bureaucratic, it can be painful, but when the when the outcome actually happens and you deliver the result, there is no place where you can have a bigger impact on on this country.
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Their words
I think there is there is um no place where you can work on bigger problems than the US government. Even at the the biggest tech companies in the world, you're never going to be dealing with problems of this of this scale.
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Their words
no matter what kind of industry you're looking at, there was this government angle where the government's policy actions could be ones that could actually unlock technologies.
+ 1 more
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Their words
Over time that has sort of inverted completely. The private sector plus philanthropy now do about 70% of R&D and the and the government only does about 30.
15 August
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Their words
it's just been sitting there in legislation for like 40 years and no one's really taken advantage of it except for one government program here or there where they want to, you know, do a NASA space reactor or something like that. But it has from a legal perspective been waiting for an administration to say, "Hey, this might be a way to accelerate nuclear R&D."
10 August
7 August
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korrents.com
Philanthropy can never operate at the scale of government, no matter how well-funded it becomes.Their words
Even with the influx of funding that may come with the AI companies' IPOs, philanthropy can never act at the scale of government.
6 August
3 August
29 July
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Their words
So, it's hard to tell how much of like the loss of the past few years was AI versus the end of like zero interest rate policy and like the post-COVID crash. And I think it's more the latter, but like again, LLMs are still getting better.
28 July
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Their words
By the way, this is the pattern in a lot of regulation. It doesn't come from like some well-meaning person trying to keep the public safe. It comes from some entrenched, frankly, lazy interest that doesn't want to have to compete and runs to DC or runs to the local regulator and tries to use the power of government to shut their competition down. I think this is deeply unethical, but it happens all the time.
22 July
20 July
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korrents.com
AI is raising public expectations of government service at the same time it changes what government must deliver.Their words
Every state, and the federal government right along with them, is about to be asked to do a lot more than keep the lights on.
15 July
14 July
12 July
From one piece The Network State 4 beliefs, in the piece's order there
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korrents.com
A government is legitimate internally if the governed have consented to it, whatever form it takes.Their words
Given the consent of the governed, any form of government is internally legitimate.
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Their words
This gives us a new perspective on why micronations like Sealand don’t work: they start backwards, from the territory and the government, rather than working forwards from a people and their culture.
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korrents.com
The US federal government has lost the capacity to build basic infrastructure, let alone advanced military hardware.Their words
This US government can’t build a bathroom in San Francisco, let alone a costeffective fighter jet, destroyer, combat ship, or aircraft carrier.
+ 1 more
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Their words
Just like Hollywood once compared Netflix to the Albanian Army, the US establishment doesn’t yet understand how much better Satoshi Nakamoto or Vitalik Buterin is than every apparatchik they have in the Federal Reserve system.
11 July
10 July
9 July
2 July
29 June
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Their words
To shout “temporary” and pull the plug essentially overnight after immigrants have relied on the government’s representations that they should put their efforts and future into establishing a life in the United States wreaks unfair havoc on the lives of immigrants as well as the welfare of their communities.
SCOTUS Whitewashes Otherwise Racist Decisionblog.simplejustice.us
21 June
19 June
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korrents.com
Government controls both the resources and the legitimacy needed for large-scale change.Their words
Government is where the literal money is (money that could often go much further if we fixed what's wrong with government), but it's also where the impact is. And it's where the legitimacy is.
18 June
From one piece Re-engineering the Semiconductor Supply Chain with Intel CEO Lip Bu Tan 2 beliefs, in the piece's order there
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Their words
And then in terms of the capital intensive like AI in a factory and also the foundry and then you really need to tap either government funding or some sovereign fund
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Their words
Just I explained to President Trump, TSMC when they started they have the Taiwan government as a shareholder. If you look at Japan, you look at Singapore, this is the infrastructure US government get to provide the support.
17 June
16 June
From one piece Machiavelli is the most misunderstood thinker of all time – Ada Palmer 4 beliefs, in the piece's order there
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Their words
When you break that, when you overthrow the ruler, when you dissolve the republic, when you put in a new thing, it doesn't have that same staying power. And so, it's very common when there's one regime change for there to then be five regime changes rapid-fire over and over.
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Their words
And soon we have a precedent that every new pope feels he has the authority to knock down every pawn upon the chessboard if he feels like it. Once that is the norm, even a fairly nice pope still inherits the idea that the pope is going to overthrow and replace governments. And this creates a unique instability within Italy that no other part of Europe is subject to
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Their words
It shouldn't It shouldn't be shelved next to How to Win Friends and Influence People because it's a manual not of how to gain power, but of how to keep power.
+ 1 more
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Their words
The Inquisition, the Vatican, it controls everything, which is completely untrue and is propagandistic. The Inquisition is overseen by a whole bunch of isolated guys who are in isolated towns and it takes weeks or months to even communicate with the Vatican and they're making their own decisions.
9 June
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Their words
And Russia's never had a commerce-driven economy. China much more so under Deng Xiaoping, but recently Xi Jinping has been privileging the crony sector over the private sector and neither one has stable government institutions.
5 June
4 June
From one piece The better AI gets, the smaller its share of the economy might get – Alex Imas and Phil Trammell 2 beliefs, in the piece's order there
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Their words
things have to go really wrong for us to like just get over the threshold of uh you know, capital being productive enough to automate lots of work, but not be productive enough that that the interest rate is high and or the price of capital produced goods is falling a lot, okay? So, even without redistribution, a little bit of savings will save a lot of people.
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Their words
It might be that every robot now can turn into, you know, 100 robots next year, right? So, in units of robots the interest rate is 10,000%.
15 May
From one piece Fed Board Members: Stay In Your Seats 3 beliefs, in the piece's order there
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korrents.com
Waging political war on a central bank does not serve a president's own political interests.Their words
A war on the Fed has not served Trump's political interests and generally does not serve any president's interests.
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korrents.com
Federal Reserve Board members have historically often resigned before completing their full terms.Their words
Federal Reserve Board members have often resigned their positions well before their 14-year terms expired, since that's quite a long time to spend in one position in government.
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korrents.com
The Federal Reserve will need to raise interest rates rather than cut them to bring down inflation.Their words
I will be surprised if there are any votes for rate cuts, even from Warsh himself. The Fed may need to hike rates this year to tame inflation.
9 May
From one piece Stop Microlooting the Tax Code 2 beliefs, in the piece's order there
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korrents.com
Stronger enforcement against tax and benefit cheating would raise social trust in government.Their words
It would behoove politicians to take cheating more seriously, because better enforcement would improve social trust
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Their words
The necessary tax rates depend on how big a government you want, but all these systems rely on people paying taxes.
27 April
24 April
5 April
4 April
1 April
22 March
9 March
8 March
28 February
9 February
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Their words
Again, you cannot pay for the externalities by pulling subsidies (there is nothing there to pull
Do subsidies make meat much cheaper?hannahritchie.substack.com
5 February
3 February
22 January
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Their words
Back when the Fourth Amendment was enacted, the most fundamental remedy for an unlawful government entry into your home was a civil suit for trespass against the officers.
10 January
29 December 2025
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Lovedrcmnd.app
BreakneckTheir words
Wang argues that the US & China each have a dominant form of government problem-solving
18 December 2025
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Their words
There is a close mapping between government ideal types and corporate governance structures given their shared origins in transaction costs.
9 December 2025
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Their words
And there are a whole bunch of people who are employed not always by the government just as much by the private sector who are much more interested in adherence to uh approved procedure than they are in quality of outcome.
28 November 2025
27 October 2025
19 October 2025
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korrents.com
A government's political legitimacy depends on providing a fair, merit-based channel for social advancement.Their words
One possible reading of the last century or so of political history in China, therefore, is that governments who provide a meritocratic channel for social advancement have legitimacy and popular support, and governments who do not provide one, do not.
10 October 2025
30 September 2025
From one piece Pavel Durov: Telegram, Freedom, Censorship, Money, Power & Human Nature | Lex Fridman Podcast #482 2 beliefs, in the piece's order there
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Their words
That's how you end up in an endless loop of ever-increasing taxes, ever-increasing regulation, which ultimately suffocates free market, free enterprise, and free speech. So, you do want to have very, very strict limitations on the extent the government can increase its powers at the expense of citizens.
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Their words
And I would rather lose everything I have than yield to this pressure because, if you submit to this pressure and agree with something that is fundamentally wrong and violates rights of other people as well, you become broken inside, you become a shell of your former self on a deep biological and spiritual level.
2 September 2025
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Their words
I think it's actually the opposite which is that everyone's kind of using the same data which is you need such an enormous amount of generalized text that the amount that Google has or that meta has is not actually enough to move to be a kind of fundamental difference in what you can train with.
29 August 2025
15 August 2025
13 August 2025
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Their words
Another big misunderstanding, and a fundamental one, is that people somehow think that the state suppresses the private sector. It’s not at all as simple as that. For the most part, if we look at the local government’s incentive system, they want to help the best, private companies, which are the most promising, because it makes them look good.
16 July 2025
From one piece The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bank 3 beliefs, in the piece's order there
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Their words
And the interest rate exposure was hidden by accounting. It was called held to maturity, where you don't have to mark even treasuries to market.
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korrents.com
A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it.Their words
And so, I always look what I call the fat tails and manage that we can handle all the all the fat tails. And not the stress test the Fed gives us, but all the fat tails.
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Their words
So, you while we kind of saved the system a lot, we bailed a lot of people out, they made us pay 5 billion dollars on the more the bad mortgages that Bear Stearns had done. And that's what made me make the statement I wouldn't do it again.
6 July 2025
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Their words
If a new monetary network with its own unit (i.e. not pegged to an existing currency as a credit rail on top of it, but rather a fully parallel system to central banks) is going to bootstrap from zero to massive, it requires upward volatility.
27 May 2025
17 April 2025
14 April 2025
From one piece Tariffs, saving, and investment 2 beliefs, in the piece's order there
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Their words
But the spike in interest rates require to do this would be huge. And the trade shock will cause a sharp recession, or worse, putting even more stress on the budget. A debt crisis is likely along the way as the US finds it impossible to roll over debt.
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korrents.com
America borrowed cheaply from the world and spent it on consumption rather than investment, exactly as Greece did.Their words
In sum, spurred on by the federal government (in many ways), the US borrowed a huge amount from foreigners at very low rates, and went on a consumption binge. Sooner or later we have to pay it back, or we go though the wrenching adjustment of a debt crisis.
31 March 2025
28 February 2025
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Their words
But the underlying ideology is familiar from Silicon Valley, Mark Zuckerberg's dictum to "move fast and break things" and replace the messily human with frictionless technology, built by elite engineers who are supposed to know better than anyone else.
19 February 2025
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Their words
Since signaling, not building human capital, is the main function of education, the main effect of government subsidies is credential inflation.
3 February 2025
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Their words
FLOP is the vector that the government has cared about historically, but the other two vectors are arguably just as important. And especially when we come to this new paradigm, which the world is only just learning about over the last six months: reasoning.
2 February 2025
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Recommendsrcmnd.app
The House of GovernmentTheir words
Imagined Communities, Invisible Countries, The Origins of Political Order, How to Hide an Empire, The House of Government
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Recommendsrcmnd.app
Imagined CommunitiesTheir words
Imagined Communities, Invisible Countries, The Origins of Political Order, How to Hide an Empire, The House of Government
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Recommendsrcmnd.app
How to Hide an EmpireTheir words
Imagined Communities, Invisible Countries, The Origins of Political Order, How to Hide an Empire, The House of Government
+ 2 more
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Recommendsrcmnd.app
The Origins of Political OrderTheir words
Imagined Communities, Invisible Countries, The Origins of Political Order, How to Hide an Empire, The House of Government
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Recommendsrcmnd.app
Invisible CountriesTheir words
Imagined Communities, Invisible Countries, The Origins of Political Order, How to Hide an Empire, The House of Government
25 January 2025
20 January 2025
From one piece The Inaugural Address 2 beliefs · whitehouse.gov
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korrents.com
The inflation of the early 2020s was caused by government overspending and rising energy prices.Their words
The inflation crisis was caused by massive overspending and escalating energy prices, and that is why today I will also declare a national energy emergency.
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korrents.com
Federal efforts to restrict free expression in recent years were illegal and unconstitutional.Their words
After years and years of illegal and unconstitutional federal efforts to restrict free expression, I also will sign an executive order to immediately stop all government censorship and bring back free speech to America.
19 January 2025
From one piece Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom | Lex Fridman Podcast #457 2 beliefs, in the piece's order there
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Their words
Friedman and Schwartz becomes the playbook for the Federal Reserve. We have lived through this, the financial crisis. The Federal Reserve is ready to loan. Covid, the Federal Reserve does all kinds of new things, because no Federal Reserve chair wants to be in Friedman-Schwartz 2.0 that somebody writes, where they're the bad guy who let the economy meltdown.
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inflationimmigrationgovernment
Their words
And so my argument is, that has now opened the door to the presidency of Donald Trump, which is potentially a deeply transformative moment that will change the size and shape of government, that may change our foreign policy profoundly, that may change our immigration policy, that may change the demographics of our country, all of that, and my thesis is that that's all been made possible by inflation.
13 January 2025
From one piece PM speech on AI Opportunities Action Plan, 13 January 2025 2 beliefs · gov.uk
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korrents.com
On AI the state's job does not stop at safety; leaving everything else to the market is a mistake.Their words
We shouldn’t just focus on safety and leave the rest to the market… Government has a responsibility to make it work for working people…
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Their words
This is the global race of our lives. Now, some countries are going to make AI breakthroughs and export them… Others will end up buying those breakthroughs and importing them. The question is – which of those will Britain be? AI maker or AI taker?
8 January 2025
From one piece Full Steam Ahead: All Aboard Fiscal Dominance 2 beliefs, in the piece's order there
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korrents.com
The United States is not at risk of a financial crisis caused by the size of its government debt.Their words
Stabilizing factors such as the global demand for U.S. dollars and debt denominated in its own currency suggest an era of fiscal dominance in the U.S. that's less dramatic than alarmists predict but more persistent and intractable than optimists hope.
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Their words
Since inflation is not primarily driven by private-sector lending in the current environment, making borrowing more expensive will not significantly cool the economy.
1 November 2024
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korrents.com
Government payments and benefits aimed at raising birth rates do not reverse the decline.Their words
Across the OECD, governments are upping their spending. But a wealth of research suggests these fail to mitigate the downward trend.
16 October 2024
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Their words
We cannot say that we are free if we allow our government to dictate to us what experiences we may or may not have in our inner consciousness, while doing no harm to others.
10 August 2024
15 April 2024
29 March 2024
20 February 2024
From one piece Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech | Lex Fridman Podcast #413 2 beliefs, in the piece's order there
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korrents.com
An independently owned platform is a necessary counterweight to the government and the mainstream media.Their words
So having an independently owned powerful platform is very important for truth, for free speech, for hearing the other side of the story, for counterbalancing the power of the government.
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korrents.com
About a dozen holdings captures nearly all the benefit of diversification; going to fifty adds almost nothing.Their words
I even recommend for individual investors to invest in a dozen companies, you don't get that much more benefit of diversification going from a dozen to 25 or even 50.
23 January 2024
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Their words
The trouble with Xi Jinping is that he is 60 percent correct on all the problems he sees, while his government’s brute force solutions reliably worsen things.
1 December 2023
6 November 2023
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Their words, before
If the future is like the past, this implies that debt rollovers—that is, the issuance of debt without a subsequent increase in taxes—may well be feasible. Put bluntly, public debt may have no fiscal cost.
Their words now
Across advanced economies, the celebrated ( r - g ), i.e., the difference between the interest rate and the growth rate, appears to have durably changed sign or, at a minimum, to have gone from a substantially negative number to a number closer to zero.
1 October 2023
From one piece GOAT: Who is the Greatest Economist of all Time and Why Does it Matter? 4 beliefs, in the piece's order there
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Their words
The truth is that moral hazard concerns very often are worse with government programs than with markets.
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Their words
In my own view, both markets and states are spontaneous orders, and government is not uniquely the product of “taxis” or “rationalist constructivism.”
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korrents.com
Interest rates have little effect on investment, and central banks have limited control over real interest rates.Their words
In the actual data, interest rates don’t seem to drive investment that much, and furthermore central bank influence over the real rate of interest typically is limited.
+ 1 more
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Their words
I am myself skeptical that there is a clearly defined notion of who “the right people” might be, and thus I am on public choice grounds far more skeptical of government than Keynes was.
4 September 2023
14 July 2023
27 June 2023
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korrents.com
A threat loses First Amendment protection only if the speaker was at least reckless about it being taken as a threat.Their words
Now, finally, the Court has resolved the question: the First Amendment requires that, at a minimum, the government prove that a speaker was reckless about whether their statement would be interpreted as threatening.
6 June 2023
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Their words
It’s not exactly news that the American government’s support for biofuels increases food prices, intensifies global hunger and wastes taxpayer dollars.
A Climate Killer Disguised as a Climate Solutionmichaelgrunwald.substack.com
29 May 2023
14 January 2023
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Their words, before
The Fed needs PCE inflation to average 1.96% for the remainder of the decade in order to hit their AIT target.
Their words now
I assumed they intended inflation to average roughly 2% during the 2020s.
10 December 2022
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Recommendsrcmnd.app
Chip War: The Fight for the World's Most Critical TechnologyTheir words
Chris Miller tells us the history of how microchips were developed, emphasizing the critical role of the government, and especially defense procurement.
22 November 2022
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Their words
the real goal was to make their users more legible, primarily for advertising purposes, but also to law enforcement and other authorities.
31 August 2022
22 June 2022
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Dislikedrcmnd.app
End the FedTheir words
It's a book by a politician, about what you expect. Some interesting tid bits on the history of the Fed but you could get it from Wikipedia.
1 June 2022
From one piece Fiscal Policy under Low Interest Rates 5 beliefs, in the piece's order there
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Their words
A low r is actually a signal that something is wrong with the economy: In effect, if we think of the safe rate as the risk-adjusted rate of return on capital, the low safe rate is sending the signal that, risk adjusted, the return on capital is low.
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Their words
The proposition is that the cancellation of the bonds held by the central bank would decrease the amount of interest payments and thus the debt service of governments. And indeed, it would. But it would have another effect—namely, to decrease the revenues of the central bank and thus the profits that the central bank turns in to the government. This second effect would be exactly of the same size as the first, and the net effect on the government budget constraint would be equal to zero.
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Their words
A longer maturity of debt protects the government from a temporary increase in the short run interest rate, and it gives it more time to adjust to a permanent increase.
+ 2 more
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Their words
If a fiscal expansion takes place when output is already at potential, monetary policy is likely to tighten, leading to higher interest rates and thus a smaller effect or even no effect of the fiscal expansion on output.
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korrents.com
There is no tight relation between growth rates and interest rates, either theoretically or empirically.Their words
while the growth rate may well affect saving and investment, there is no tight relation between growth rates and interest rates, either on theoretical or empirical grounds.
1 January 2022
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Their words
It has displayed a stronger record of reform than any other developing country, as the leadership keeps pulling off politically-difficult tasks: shrinking the state sector, re-orienting the economy towards export-led growth after WTO accession, and so on.
20 July 2021
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Their words
Rather: NSO’s genius is that they’ve done something that attackers were never incentivized to do in this past: democratize access to exploit technology.
A case against security nihilismblog.cryptographyengineering.com
1 August 2016
Nothing matches.
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