Instead of asking to be given more, young professionals should ask how they can best add and improve.

Debt issuance is not smooth, but rather is lumpy. One cannot extrapolate two months of deficits into the annual deficit. The Treasury refilled their cash balance by $400 billion in two months, which meant extra debt issuance that wont be repeated any time soon. Additionally, tax season brings in a burst of taxes, and so the back half of the calendar year tends to have larger deficits than the front half. Actual deficits are still closer to the $2 trillion range. And indeed, nothing stops this train.

A giant explosion went off at a military base in Cairo. Five killed. Media reports about it are pretty much suppressed- it’s probably an accident but could technically be some sort of terrorist strike as well. Tragic either way. But what is crazy to me is that the blast was powerful enough to break one of the windows of my house many miles away. It’s crazy how powerful big explosions like this can be.

In a couple of decades, what percentage of people do you think will be using centralized systems for money and communication vs decentralized ones?

Government officials often use “security” as an excuse to take your rights. They’ll increasingly say they need to surveil and control your communications and payments to keep people secure. How about starting with the streets and trains and such? If they were actually serious about security more-so than control, they’d make sure that basic stuff is sorted out first.

The left gives themselves new political powers which then get used by the right when they’re in power. The right give themselves new political powers which then get used by the left. It spirals toward more centralized government over time. Keeping government limited is like constantly passing the marshmellow test, delaying immediate gratification for longer-run benefit.

Imagine being bearish on any of this.

Polishing it up. Planning for a Q1 2026 release.

What makes you think I was talking about the USA?