Chicken🐔Whisperer

Avi Lewis on the government's plan to privatize airports: "Workers always pay the price in privatization schemes and the public always ends up paying more in the end ... history is littered with examples of the failures of privatization."

Warren Buffett has a simple challenge he gives people who argue they can predict markets using macroeconomic data. "Can you name me one super wealthy economist that's ever made money out of securities? No. Just go down the list." He means it literally. The people with the highest IQs, who spend their entire lives studying how economies work, have a nearly perfect track record of losing money when they try to trade on that knowledge. The most striking example he gives is John Maynard Keynes arguably the most influential economist of the 20th century. In his early career, Keynes tried to do exactly what every macro hedge fund manager tries to do today, predict the credit cycle, anticipate where the economy was heading, and position his portfolio accordingly. He went broke, twice in 1922 and again in 1929 and he had to borrow money from friends to keep going. Then he gave up on the top-down approach entirely. He switched to something far simpler, buying good businesses cheaply that he understood, concentrating his investments, and holding them. By the time he died in 1946, he had built a net worth of roughly £500,000, equivalent to about $36 million today plus an extensive collection of art and rare manuscripts. Buffett's point is not that economists are stupid but rather that the skill of understanding macroeconomics and the skill of picking securities are almost entirely unrelated and the market has been testing that hypothesis for a century with consistent results. The people who know the most about how economies work cannot beat the market. The people who beat the market almost never do it by forecasting the economy. "They don't make a lot of money buying and selling stocks, but people who buy and sell stocks listen to them. I have a little trouble with that."

On a per-person basis, Canada is attracting more foreign investment than any other G7 country - roughly double the next closest and our highest level in 18 years. More investment means more jobs, more growth, and more opportunity.

If you need proof that you’re living inside the most powerful propaganda system in human history, consider the fact that almost nobody can afford anything & yet this is somehow not — by far — the top issue covered by the press, discussed in politics or trending on social media.