Warning: if you don't like blunt talk, you really won't like Cliff Asness.
A sovereign wealth fund for the U.S., which President Trump has also begun planning, is inappropriate, unneeded, likely harmful, and potentially quite corrupt. But a strategic cryptocurrency reserve looks at a “normal” sovereign wealth fund and says, “Hold my beer,” as we are going to plaid.
That is the paradox of the situation: Democrats are good at taking over institutions, but, because of the way they take them over, horrible at running them. . . .
But it turns out that fixing the cities is not all that difficult—if the voters would just kick out the Democrats. . . .
All it took to fix New York City was a Republican mayor; all it took to wreck it was a Democrat.
Writing in the New York Times, Ezra Klein agrees (partly):
But Democrats succeeded at the art of resistance politics. They won the 2018 midterms, flipping 40 House seats, seven governorships and six state legislatures. Democrats won the 2020 presidential election, driving Donald Trump into exile in Mar-a-Lago. The resistance succeeded. The problem was what came next — and, in some ways, what had come before: Democrats failed at the work of governing. . . .
In the last few decades, Democrats took a wrong turn. They became the party that believes in government, that defends government, not the party that makes government work.
A quarter-century of absolute failure.
Made me laugh.
Economist Donald Boudreaux argues relatively briefly but very effectively why Americans shouldn't worry about our trade deficits.
More research is needed--in particular one wishes for a better controls and a longer time series--but this is not a good look for the policy: "Utah’s experiment with stricter drunk driving laws has led to more fatalities, not fewer."
Yes, the last dozen years of growth does seem a tad . . . excessive.
Related: "Dems Fight To Protect A $600 Billion Medicaid Tax Scam That Joe Biden Tried To Kill".
Not to mention there's $100 billion/year in fraud.
"According to a recent analysis from Moody’s Analytics for the Wall Street Journal, households with the top 10% of incomes, making about $250,000 or more a year, now account for nearly half of all consumer spending — the highest share since they’ve been collecting data on this stuff."
She doesn't demonstrate that the scientists misreported, but I think she does demonstrate that at least the headline writers misled. But in 2025 is that news?
The Committee for a Responsible Federal Budget presents a "bank" of possible ways to reduce the federal deficit.