If people are spending $4000 to see a child’s game we need to raise tax’s a lot, how wealthy would you have to be where that might seem worth it. Completely absurd, same thing with concert tickets. Doesn’t a football game last like an hour? $4000 good lord. If we can spend $4000 on a game maybe we should fund healthcare, food stamps, roads, bridges, trains and free college for everyone instead we all live in a degraded 3 rd world shit hole because we waste our money on stupid shit like this. I really had no idea. I wonder if I know anyone that’s ever seen a game. Maybe there is something I am missing, is it like epic? Or like a religious experience? How? Why?
I've been mumbling to myself lately "some people have too much money" (not me of course). There is a tiny segment of the population that is absolutely killing it and they find fulfillment in spending $40k for 50-yard line front row seats.
I constantly have to remind myself how populated the US is as I grew up in a very small isolated town, Glasgow MT. and struggle with even the slightest population changes. Helena MT has experienced a slight (according to census) bump in population since 2020 and has become almost unlivable as a result. Bozeman and Missoula are impossible for traffic and congestion, these were all small, quiet towns in my lifetime and man it’s a shocker.
In regards to the Louis Gave quote: Maybe it's taken out of a specific context, but:
“I don’t think you need to be a Marxist to believe that inflation is a massively socially destabilizing phenomena.”
I really don't get the "Marxists are afraid of Inflation" angle unless they are not only Marxists but also schizophrenic and blind in regards to cause and effect of "Marxist Ideology". They can't be afraid of the very thing they cause, can they? They must welcome it, because it's a silent killer.
Marxists thrive on spending other people's money, although they'd tell you it's "everybody's money" of course. They "central plan" things they do not truly understand and even lesscan steer, like the steel production 3 years out since mills/refining/smelting takes time and is a demand-driven process usually.
These facts (besides many more about the side effects of running a state like that) have been proven, in reality, countless times in real economies that were devastated everytime a "Marxist" came into power and tried their hand at this failing ideology.
An ideology which by many is still seen as "superior", despite the fact it failed so devastatingly every time it was enacted in a state in a process that eroded the capital base and industrial base, over a course of decades usually, before the grift and erosion of "state substance" became too manifest in the real world to ignore. The ideology literally hollowed out states, currencies and left a sweltering mess in its wake. I am by the way not saying capitalism is better, I'm just making the point that if you compare the two, there has yet to be developed a "better system" for "growth participation in the public".
When any deeply Socialist Economy's of the past (and likely present) culmination point was reached, whoever held the policital baton was (often) brutally driven out or maybe even abducted by another state if they couldn't evade their capture. Sometimes it was still the same guy (as they were mostly guys), sometimes they had a poor schmuck win an election if they were still sensitive enough to smell their system's demise.
What do all Marxist-led countries have in common?
Currencies they actively utilize to bleed value, create more of it out of thin air to finance their whims. They inflate, they grift, they hollow out their coins in the times where this was still very relevant and so forth. It's value destruction in a very slow bleed.
Now wait a second here..."Marxism is a] process that eroded the capital base and industrial base, over a course of decades, usually." Isn't this exactly what happened in the US with the Enshittification of everything, shoveling everything to the PRC, and some making billions in the process?
Thanks for the source and reply, appreciate it. I agree the bond market is likely one of the "undoers" of all this MMT/Keynesian overdrive. Revolts usually come when it's "too late" in any cycle (when it becomes unbearable). Human nature (laziness vs. proactiveness) and complacency get in the way of "not letting a system go stale" I believe.
I followed you for many years on Twitter and now here we are on Substack…
As usual your article is packed with ‘stuff’ - much of it alarming to say the least.
The push to EVs seems to be costing a LOT of billions in write-downs, and now we’re stating to learn more about the LOT of billions that need underwriting for AI infrastructure.
What does it all mean? Can you tie it all together in one sentence? I am uncomfortable that ‘little old insurance’ companies are now getting involved as potential fall guys and what it all might mean in the near future.
I’m no expert on all this which is one reason this stuff interests me. Summarizing what you ask for is something I might actually give AI a shot at. What does it all mean re: EV’s? It seems they’re at this moment largely a failed experiment.
EROEI of EV's is a farce. The stress it would put on the baling wire and gum grid of the US would cause it to crash/melt/fail, and then throw in the hyperscalers? There's NFW we're going to be able to build and deliver the electricity needed to provide enough for everyone's needs. GE Vernova alone is currently experiencing a significant, multi-year backlog for its power generation equipment. As of early 2026, the company's backlog has reached approximately $150 billion, with some deliveries for major projects extending into 2029 and 2030. NGMI
What's the chance that Trump was placed in power to lead his MAGA supporters into the Tecnotratic Surveillance State? Donnie is comfortable associating with guys Larry Fink and Scott Bessent - the right hand man of George Soros. Vance is the designated candidate of Peter Theil a guy who stated that the Tech Bros couldn't get their agenda advanced at the ballot box. Even Elon Musk was readily accepted by MAGA even though his desire for UBI, brain chips, EVs etc was once anathema to MAGA values.
Rudy.... these are words to live by on a Friday afternoon:
"There are many Epstein emails that are far worse than the few I mention below. If you want to know about those, you can do that on your own. It’s not that hard. A lot of people are on the case - just no one with the power to do anything about it."
I'm a Canadian with many friends south of the border. I feel dejected that most of them have their head in the sand (or up their asses) about Epstein and the other systemic corruption.
You, Melody, Dave Collum are always on the objective and right side of this.
in the Dow Jones’s newsroom when Paul Steiger had everyone wearing those ridiculous black, Dow 10,000 hats and shirts. They all looked ridiculous to me then as they do now.
If people are spending $4000 to see a child’s game we need to raise tax’s a lot, how wealthy would you have to be where that might seem worth it. Completely absurd, same thing with concert tickets. Doesn’t a football game last like an hour? $4000 good lord. If we can spend $4000 on a game maybe we should fund healthcare, food stamps, roads, bridges, trains and free college for everyone instead we all live in a degraded 3 rd world shit hole because we waste our money on stupid shit like this. I really had no idea. I wonder if I know anyone that’s ever seen a game. Maybe there is something I am missing, is it like epic? Or like a religious experience? How? Why?
I've been mumbling to myself lately "some people have too much money" (not me of course). There is a tiny segment of the population that is absolutely killing it and they find fulfillment in spending $40k for 50-yard line front row seats.
I constantly have to remind myself how populated the US is as I grew up in a very small isolated town, Glasgow MT. and struggle with even the slightest population changes. Helena MT has experienced a slight (according to census) bump in population since 2020 and has become almost unlivable as a result. Bozeman and Missoula are impossible for traffic and congestion, these were all small, quiet towns in my lifetime and man it’s a shocker.
Top US export is now gold. Think of it as money, not as a commodity, and it becomes an interesting entry on the balance of payments.
Great collection again, Rudy!
In regards to the Louis Gave quote: Maybe it's taken out of a specific context, but:
“I don’t think you need to be a Marxist to believe that inflation is a massively socially destabilizing phenomena.”
I really don't get the "Marxists are afraid of Inflation" angle unless they are not only Marxists but also schizophrenic and blind in regards to cause and effect of "Marxist Ideology". They can't be afraid of the very thing they cause, can they? They must welcome it, because it's a silent killer.
Marxists thrive on spending other people's money, although they'd tell you it's "everybody's money" of course. They "central plan" things they do not truly understand and even lesscan steer, like the steel production 3 years out since mills/refining/smelting takes time and is a demand-driven process usually.
These facts (besides many more about the side effects of running a state like that) have been proven, in reality, countless times in real economies that were devastated everytime a "Marxist" came into power and tried their hand at this failing ideology.
An ideology which by many is still seen as "superior", despite the fact it failed so devastatingly every time it was enacted in a state in a process that eroded the capital base and industrial base, over a course of decades usually, before the grift and erosion of "state substance" became too manifest in the real world to ignore. The ideology literally hollowed out states, currencies and left a sweltering mess in its wake. I am by the way not saying capitalism is better, I'm just making the point that if you compare the two, there has yet to be developed a "better system" for "growth participation in the public".
When any deeply Socialist Economy's of the past (and likely present) culmination point was reached, whoever held the policital baton was (often) brutally driven out or maybe even abducted by another state if they couldn't evade their capture. Sometimes it was still the same guy (as they were mostly guys), sometimes they had a poor schmuck win an election if they were still sensitive enough to smell their system's demise.
What do all Marxist-led countries have in common?
Currencies they actively utilize to bleed value, create more of it out of thin air to finance their whims. They inflate, they grift, they hollow out their coins in the times where this was still very relevant and so forth. It's value destruction in a very slow bleed.
Now wait a second here..."Marxism is a] process that eroded the capital base and industrial base, over a course of decades, usually." Isn't this exactly what happened in the US with the Enshittification of everything, shoveling everything to the PRC, and some making billions in the process?
In more context, Gave has said, "I grew up in France, so I had a good dose of Marx in my education. The first thing Marx teaches you is that revolutions are typically the result of inflation." https://themarket.ch/interview/gave-the-bond-market-is-the-biggest-bubble-of-our-lifetime-ld.945
Thanks for the source and reply, appreciate it. I agree the bond market is likely one of the "undoers" of all this MMT/Keynesian overdrive. Revolts usually come when it's "too late" in any cycle (when it becomes unbearable). Human nature (laziness vs. proactiveness) and complacency get in the way of "not letting a system go stale" I believe.
Hey Rudy - how’s it going? :)
I followed you for many years on Twitter and now here we are on Substack…
As usual your article is packed with ‘stuff’ - much of it alarming to say the least.
The push to EVs seems to be costing a LOT of billions in write-downs, and now we’re stating to learn more about the LOT of billions that need underwriting for AI infrastructure.
What does it all mean? Can you tie it all together in one sentence? I am uncomfortable that ‘little old insurance’ companies are now getting involved as potential fall guys and what it all might mean in the near future.
Make it all make sense!
I’m no expert on all this which is one reason this stuff interests me. Summarizing what you ask for is something I might actually give AI a shot at. What does it all mean re: EV’s? It seems they’re at this moment largely a failed experiment.
EROEI of EV's is a farce. The stress it would put on the baling wire and gum grid of the US would cause it to crash/melt/fail, and then throw in the hyperscalers? There's NFW we're going to be able to build and deliver the electricity needed to provide enough for everyone's needs. GE Vernova alone is currently experiencing a significant, multi-year backlog for its power generation equipment. As of early 2026, the company's backlog has reached approximately $150 billion, with some deliveries for major projects extending into 2029 and 2030. NGMI
What's the chance that Trump was placed in power to lead his MAGA supporters into the Tecnotratic Surveillance State? Donnie is comfortable associating with guys Larry Fink and Scott Bessent - the right hand man of George Soros. Vance is the designated candidate of Peter Theil a guy who stated that the Tech Bros couldn't get their agenda advanced at the ballot box. Even Elon Musk was readily accepted by MAGA even though his desire for UBI, brain chips, EVs etc was once anathema to MAGA values.
I’ve called Trump the biggest Trojan Horse ever.
The Brits had Churchill and we Germans had that short moustached men starting in '33.
"silver below $65, it’s one of those back the truck up moments"
Weldon coming in with the timely advice. Need to remember to listen to his episodes the moment they drop.
Also, my last new car *cost less* than what GM is losing on each EV!
Rudy.... these are words to live by on a Friday afternoon:
"There are many Epstein emails that are far worse than the few I mention below. If you want to know about those, you can do that on your own. It’s not that hard. A lot of people are on the case - just no one with the power to do anything about it."
I'm a Canadian with many friends south of the border. I feel dejected that most of them have their head in the sand (or up their asses) about Epstein and the other systemic corruption.
You, Melody, Dave Collum are always on the objective and right side of this.
Keep up the battles!
Chris, Venezuela North
So funny story. I worked
in the Dow Jones’s newsroom when Paul Steiger had everyone wearing those ridiculous black, Dow 10,000 hats and shirts. They all looked ridiculous to me then as they do now.
On Fleck's website...