Noslen Ttocs

The European tariff escalation earlier in the year + the conflict in the Middle East have crushed the leading growth stocks. AI, cybersecurity, e-commerce, infrastructure software + online payments companies now represent a big opportunity. Be greedy when others are fearful.

@StephenMoore @SteveForbesCEO Higher indeed, especially when Boomers in congress/government run unsustainable fiscal practices.

Mortgage rates have fallen to 5.98%, the first sub-6% level since September 2022. Outside the zero-rate era, today’s rates remain historically moderate and well below the double-digit levels seen in past decades. Kids these days complaining about high interest rates have no idea how high they can go.

@LindseyGrahamSC @StephenM Look at your collar dude....

Even to this day, Democrats refuse to acknowledge the victims of Biden’s disastrous border policies, like Laken Riley. Democrats were complicit in the Biden border crisis, but they want to pretend like it never happened.

And Marco wept, for there were no more worlds to conquer.

My column on Venezuela in @TheEconomist “Prosperity does not come from oil, decrees or even benevolent rulers. It comes from rights. Rights create private property. Rights create security. Rights create debate. Rights allow people to invest, to innovate, to dream—and to transform reality. Take rights away, and society withers. Restore them, and recovery is possible.” economist.com/by-invitation/…

@BillAckman @RoKhanna Thats what happens when a party chooses its champion #zorhanmamdami

If you think Minnesota is bad, just wait until they look into the NYC home healthcare scam, all paid for by Medicaid. Home health aides are now the largest single occupation, and ~40% of all job growth, in New York. New York has 171 aides per 1,000 residents aged 65+, the highest rate in the US and 153% higher than the national average. They all self-report to be "caring for" someone (a lazy relative) as their full-time job, and the state just takes their word for it and pays them a salary. It's statistically impossible.

The Epstein Story has yet to break. Not one single news desk can break it. Think about that.

Fractional reserve banking = your money isn’t really there. And when it collapses? YOU bail it out through inflation and taxes. Balance the budget. End the bailouts. Audit the Fed.

@RealEJAntoni Im sure OBBB and lower FF will rescue this in 2026

Retail sales, after accounting for inflation, haven't budged since Spring '21 - it was just four years of prices going up, not more stuff being sold:

The hiring rate is low. The quits rate has declined. The level of layoffs has increased at the margin. The balance of power in the jobs market has clearly shifted in favor of employers. Wage growth likely cooling off in the quarters ahead.

The U.S. is an outlier because it’s built differently from almost every other advanced economy. You can see it the moment you look at income distribution. The top end lives in a completely different universe, and the bottom end lives in a system where the basics cost more and security isn’t guaranteed in the same way. That contrast is the heart of the American story, remarkable upside paired with real vulnerability. The Power Side of the Equation America rewards scale, ideas, and ownership like no one else. If you create something valuable, build a company, hold equity, or land in a high productivity city, the sky is almost uncapped. The country is wired for invention with deep capital markets, a culture that tolerates risk, and a legal system that protects intellectual property. That mix produces billion dollar companies and life changing wealth. It’s why the top quintile earns so much more than its counterparts abroad. In that sense, the U.S. is still the world’s best engine for turning ambition into real economic gains. You also can’t ignore the strategic layer where the U.S. carries an enormous share of global defense and security costs. Most of its allies spend a fraction of what America does because they rely on the U.S. military umbrella. That burden shapes federal budgets and limits how much can be redirected toward social programs. It doesn’t erase the country’s strengths, but it does define the terrain the U.S. operates on. The Fragile Side of the Equation The bottom half of the country doesn’t experience the same lift. Not because people aren’t working, but because the American model offloads so much onto the individual like healthcare tied to your job, education paid through debt, childcare priced like rent, and housing clustered in the places where opportunity is highest and affordability is lowest. So even when income looks okay on paper, life can feel stretched. A small setback like a medical bill, a layoff, a move can ripple through a household in a way that would be absorbed in countries with stronger social cushions. And geography deepens the divide. Coastal tech hubs operate almost like separate countries compared to rural regions or old industrial towns. It’s one national economy with multiple economic climates, and that difference shapes everything from mobility to political attitudes. The Real American Paradox Put it all together and the U.S. becomes a study in contrasts, the place where global wealth gets created, and the place where everyday life can feel precarious for people not riding the upside. It’s not just inequality, it’s the structure of inequality. A spectacular ceiling. A thinner floor. And a system that asks individuals to absorb more risk while also carrying the weight of being the world’s stabilizing force. The question going forward isn’t whether America is wealthy…it clearly is. It’s whether that wealth keeps lifting only the top or eventually finds a way to rebuild the floor underneath everyone else.

@KellyCNBC Great post!

NEWSLETTER: This is bigger than AI.

@america So thats like .5% of the program that is pure fraud (imposter) and 1.1% double-dipping? Not good, but not shocking.

Agriculture Secretary Brooke Rollins on SNAP: “So much rampant fraud... 800,000 of 42 million have moved off of food stamps. We found 186,000 dead people, 500,000 receiving double benefits. Some people receiving benefits in 6 states.”

@EricLDaugh Can you imagine how much a condo in Palm Beach will cost!?!

🚨 JUST IN: It's been confirmed that Trump Accounts can grow to $191,000 THOUSAND dollars from age 0 to 18, and then to over $2 MILLION up to retirement, with the maximum contribution of $5,000 per year To start, Trump seed money: +$1,000 Michael Dell: +$250 This will teach American kids about saving VERY early, and the government can't touch this money. You don't even need to make the $5K max to get a huge benefit from this. Incredible idea. This is how you help the next generation 🇺🇸🇺🇸

@JTLonsdale I'm a Theil fan, but it was pretty funny...

An old friend of ours was lampooned on South Park, after his "Antichrist" lectures; But it’s always worth learning from Peter! My latest essay goes back to Jewish & Christian theology, and Kant for how we think, to discuss how to learn from Thiel about today’s global threats.

@wesbury That's actually very funny, Brian. Well done 👏.

Anyone who calls me boomer has to deal with this. I just gave a speech at this restaurant in Luxembourg.

@elerianm Sad. Our institutions are led by corrupt people.

The reporting below comes from CNBC. If I’m counting correctly, that makes at least five Federal Reserve officials who have been accused of financial irregularities since 2020—some confirmed, others not. You see why I include the culture of compliance among the areas in urgent need of reform at the Fed? (Isn’t it interesting that this came out on a Saturday?) #economy #federalreserve #markets @CNBC

I made my final payment on a mortgage last month. Today I got a letter in the mail from the county clerk's office congratulating me on the "Satisfaction of my Mortgage" and a receipt for the recording of the "Discharge of Mortgage" from the bank. It was $51.00 in local and state government fees to record the fact I paid off a private mortgage. A mortgage on a private property I had to pay numerous local and state fees to purchase. Hard to believe we fought (and won) a war of independence over a tax on tea.

@RonDeSantis Yaaaassss Ron! Keep it up my man!

Angelo’s is off the charts — I’m trying to get them to open up a FL location. It would print money down here.