Joined April 2024
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7h3_hunt retweeted
CPI inflation data quality continues to decline:
In September, 40% of CPI items were estimated, up from 36% in August.
When price data is unavailable, the BLS "fills the gaps" with estimated values, which typically account for ~10% of all CPI entries.
The percentage has now QUADRUPLED over the last 7 months.
This all means ~40% of price quotes across 200 product and service categories were calculated using substitute pricing, where data collectors filled in missing figures with values from other categories or regions.
CPI numbers are becoming less accurate and less reflective of real consumer costs every month.
What is happening here?
7h3_hunt retweeted
On a $400K Mortgage at 7% Interest:
1. 30Y Mortgage: $558,000 in lifetime interest
2. 50Y Mortgage: $1,116,000 in lifetime interest
With a 50Y mortgage, you pay DOUBLE the amount of interest compared to a 30Y mortgage.
We are in a crisis.
7h3_hunt retweeted
China is massively lying about their population. It is not 1.4 billion people. It may be as low at 600 million.
In 1950 the population of China was estimated at 530 to 540 million, when the CCP took control.
It requires a fertility rate of 3.3 to triple the population in 50 years.
In 1959 the great famine in China resulted in an estimated 30 million deaths.
From 1979 to 2015 China had a one child policy.
Mathematically, there is simply no way for the population to have grown from 540 million to 1.4 billion between 1950 and 2020.
China is rapidly aging due to the one child policy which was too successful.
China has a long history of publishing fake economic data. There is zero reason to assume their official population data is accurate.
7h3_hunt retweeted
.@peterthiel is correct. I have some thoughts on how to fix this that I will share when I have some time. (Long post)
Peter Thiel: If you graduated in 1970 with no student debt, compare that to the millennial experience: too many people go to college, they don’t learn anything, and they end up with incredibly burdensome debt. Student debt is a version of this generational conflict that I’ve talked about for a long time.
The rupture of the generational compact isn’t limited to student debt, either. I think you can reduce 80 percent of culture wars to questions of economics—like a libertarian or a Marxist would—and then you can reduce maybe 80 percent of economic questions to questions of real estate.
It’s extremely difficult these days for young people to become homeowners. If you have extremely strict zoning laws and restrictions on building more housing, it’s good for the boomers, whose properties keep going up in value, and terrible for the millennials. If you proletarianize the young people, you shouldn’t be surprised if they eventually become communist.”
7h3_hunt retweeted
BREAKING: CIA & U.S. government were behind the assassination of JFK, according to Twitter founder Jack Dorsey.
7h3_hunt retweeted
Peter Thiel: If you graduated in 1970 with no student debt, compare that to the millennial experience: too many people go to college, they don’t learn anything, and they end up with incredibly burdensome debt. Student debt is a version of this generational conflict that I’ve talked about for a long time.
The rupture of the generational compact isn’t limited to student debt, either. I think you can reduce 80 percent of culture wars to questions of economics—like a libertarian or a Marxist would—and then you can reduce maybe 80 percent of economic questions to questions of real estate.
It’s extremely difficult these days for young people to become homeowners. If you have extremely strict zoning laws and restrictions on building more housing, it’s good for the boomers, whose properties keep going up in value, and terrible for the millennials. If you proletarianize the young people, you shouldn’t be surprised if they eventually become communist.”
7h3_hunt retweeted
Peter Thiel today:
“Boomers are strangely uncurious about how the world is not really working for their kids. It’s always hard to know how much bad faith there is or how bad the actors are. I think it’s odd that people thought it was odd that I was complaining about student debt in 2010, when even then the growth in student debt was an exponential process. The national student debt was $300 billion in 2000, and it’s now more than $2 trillion. At some point, that breaks…
If all you can say is that Mamdani is a jihadist, communist, ridiculous young person, what that sounds like to me is that you still don’t have any idea what to do about housing or student debt. If that’s the best you can do, you are going to keep losing.”
7h3_hunt retweeted
JUST IN: 🇺🇸 Supreme Court issues order allowing President Trump to block SNAP funding.
7h3_hunt retweeted
BREAKING: Senate Democrats block a bill to pay the military and other federal essential workers during the shutdown.
7h3_hunt retweeted
“Recruiters are being laid off in massive numbers at large corporations. It’s not just artificial intelligence. These companies have halted all hiring completely. It hasn’t been this bad since 2008.”
7h3_hunt retweeted
Bitcoin: Battle for the 50W SMA
piped.video/watch?v=Sbw6X6…