the second thing and this is astonishing
is that the fed’s estimate of the cost
of living doesn’t
include tax while
government expenditures are over 40
percent of gdp
the idea that your cost of living
doesn’t include tax
i suspect daniella that would be okay
with you if you didn’t have to pay the
but given that you do a calculation of
cost of living that doesn’t include tax
seems very odd to me i reck i understand
that government probably shouldn’t be
considered to be a consumer good
unfortunately it’s a good which you are
forced to consume and fund
and people when they are thinking about
the impact of their savings
and their uh earned income relative to
their purchasing power
need to think about inflation very
than a slavish reliance on the cpi oh
that is so well said and i’m happy you
brought up the point about uh
tax a rick a real good one um so you
it seems like we’re living in this world
of you know fake earnings fake gdp
fake interest rates and super high
um the feds in a corner
i think the fed isn’t a corner uh i i
i think they’re there by popular demand
when i see what the fed does it reminds
me of an old
pogo cartoon from my youth where pogo is
in the swamp
and he says i have met the enemy and he
Former Sprott executive Rick Rule speaks candidly with our Daniela Cambone on everything from the Fed’s current moves to the best safe havens for money right now. Chiming in on the silver squeeze, he also offers insight on why $PSLV has become such a popular vehicle.
In this must-see interview, Rule reflects on his career, explaining the game-changing mindset that has cultivated his success. “The essence of wealth is enhancing your wellbeing— and that isn’t all material,” he says.
as mass immigration increases diversity, it reduces social cohesion and civic trust
.. the trust problem is not a simple matter of racist natives mistrusting foreigners, since social trust is often weakest among minorities — which is one reason why the most diverse generation in American history, the millennials, is also the least trusting.
.. It’s one reason why campus politics are so toxic, why Democrats struggle to keep their diverse coalition politically engaged
.. Then linked to these ethno-cultural tensions are the tensions of class, where mass immigration favors stratification and elite self-segregation.
.. regions and cities with the largest immigrant populations are often the wealthiest and most dynamic.
.. The hinterlands are also filled with people who might want to move to wealthier regions (or who used to live there) but can’t because an immigrants-and-professionals ecosystem effectively prices out the middle class.
.. Thus our rich and diverse states also often feature high poverty rates when their cost of living is considered, while second and third-generation immigrants often drift into the same stagnation as the white working class
.. Which in turn encourages them toward mild contempt for their fellow countrymen who don’t want to live under a cosmopolitan-ruled caste system
.. For some pro-immigration Republicans this contempt is Ayn Randian: We’ll all be better off with more hard-working immigrants and fewer shiftless mooching natives. For pro-immigration liberals it’s the predictable cultural triumphalism: The arc of history is long, but thanks to immigration we won’t have to cater to heartland gun-clingers any longer.
In both cases there’s a fantasy of replacement that’s politically corrosive, and that’s one reason why Donald Trump is president and Jeb! and Hillary are not.
.. Hence my own view that keeping current immigration levels while bringing in more immigrants to compete with our economy’s winners and fewer to compete for low-wage work represents a reasonable middle ground.