RT Nick Szabo (@NickSzabo4)This reminds me of some prior socialists.The Union of Soviet Socialist Republics built the Berlin Wall, shot their people who tried to cross it without permission, and put up many other barriers make it hard for people to leave their country-sized prison. ...

This reminds me of some prior socialists.The Union of Soviet Socialist Republics built the Berlin Wall, shot their people who tried to cross it without permission, and put up many other barriers make it hard for people to leave their country-sized prison.🇺🇸 Larry 🇺🇸 (@LarryDJonesJr):NYC’s socialist mayor, Zohran Mamdani, is doubling down on his previous statement that if a company leaves NY, find them and tax them anyway.Now he is saying:"We should take businesses from owners who want to leave due to the ta ...

RT Hunter Ash (@ArtemisConsort)Many economists have a weird blindness to this: immigrants don’t just come and participate in our system. They also change the system. All major immigrant groups favor more socialist policies than White Americans. Whatever marginal economic gains citizens enjoy from immigration would be totally dwarfed by the cost of enacting the policies immigrants say they support (on average).Even when a particular group of first-gen immigrants is very anti-communist, like Cubans or Vietnam ...

The new Mayor of New York City claims the local government has created a “fiscal crisis” on the scale of the Global Financial Crisis.His solution is to take money from the best capital allocators in NYC and give it to the worst capital allocators.This is the problem with socialism.You can’t claim a fiscal crisis at the same time you are promising people free bus rides, free childcare, and government-run grocery stores.Eventually you run out of everyone else’s money.https://t.co/Vuv1N9HVOI ...

Core Viewpoint - U.S. Treasury Secretary Scott Bessent links young Americans' skepticism of capitalism to their lack of market participation, highlighting that attitudes toward socialism are connected to stock ownership [1][2]. Group 1: Market Participation and Sentiment - A Gallup poll indicates that 39% of Americans view socialism favorably, while just over half have a positive view of capitalism [2]. - Approximately 38% of American households have no exposure to equities, suggesting that dissatisfaction with the economic model may correlate with non-participation in the stock market [3][4]. Group 2: Trump Accounts Initiative - The "Trump Accounts" initiative aims to create federally supported investment accounts for children, designed to invest in a broad-based index fund [5]. - This program is intended to expose millions of future adults to the benefits of equity markets, promoting long-term wealth accumulation and financial literacy [6]. Group 3: Economic Context and Policy - Bessent emphasizes that the S&P 500 index is reaching new highs, reflecting strong economic policies such as deregulation and tax changes that have attracted significant investment back to the U.S. [7].

Economic Background - Venezuela was once the leading economy in South America due to the discovery of massive oil reserves in 1922, currently holding the largest reserves globally at 303 billion barrels [1] - Despite this wealth, Venezuela's economy is now the poorest in South America, raising questions about the mismanagement of its oil resources [1] Nationalization and Socialism - The nationalization of foreign oil companies in 1976 marked a significant turning point, leading to the establishment of Petróleos de Venezuela, S.A. (PDVSA) as the state-owned oil company [1] - The election of Hugo Chavez in 1998 initiated a shift towards socialism, with the introduction of "Plan Bolivar," aimed at poverty alleviation through infrastructure and health initiatives [4] Management Issues - In 2002, Chavez's government dismissed top PDVSA executives and 18,000 skilled workers, leading to a decline in operational expertise within the company [5] - The appointment of political allies over qualified professionals resulted in mismanagement, causing a rapid decline in oil production from 3.7 million barrels per day in 1970 to 1.1 million barrels per day recently [7] Economic Decline and Hyperinflation - Nicolás Maduro's presidency, starting in 2013, exacerbated the economic crisis, leading to hyperinflation that peaked at 375,000% in 2019 due to excessive money printing to fund government services [11] - The government's reliance on oil revenues failed as production and revenues fell, leaving the economy without alternative sectors to support it [12] Migration and Sanctions - Over the past decade, U.S. sanctions have targeted Venezuela, restricting financial arrangements with the government and contributing to economic isolation [15] - The number of Venezuelans living abroad surged from 700,000 in 2015 to approximately 7.9 million by last year, indicating a significant brain drain of skilled workers essential for economic recovery [16]

Group 1: Political Developments - U.S. special forces captured Nicolás Maduro and his wife, indicting them on charges including narco-terrorism conspiracy and cocaine importation conspiracy [1] - President Donald Trump announced that the U.S. would initially take over the administration of Venezuela to ensure a safe transition [2] Group 2: Economic Challenges - The Venezuelan Bolivar has weakened by 469% over the last 12 months, indicating severe currency instability [2] - Inflation in Venezuela reached an all-time high of 344,509.50% in February 2019, with economists suggesting the true rate was likely even higher [6] - The economic issues in Venezuela are attributed to poor economic policies dating back decades, including the nationalization of oil and gas companies in 1976 [6][7] Group 3: Oil Industry Impact - The collapse of PDVSA's crude oil output, which fell from a peak of 3.5 million barrels in December 1997 to 1.1 million barrels recently, is linked to political appointments over skilled management [13] - The Trump administration expressed dissatisfaction with the historical nationalization of the oil industry, claiming that American talent built it [9][10] Group 4: Humanitarian Crisis - Approximately 15% of the Venezuelan population, around 4 million people, urgently need food assistance, highlighting a severe humanitarian crisis [14] - Food shortages began in 2016, leading to extreme measures such as zoo animals being stolen for food [16] - By 2018, the average Venezuelan had lost more than 20 pounds, and there was a resurgence of malaria in several states [17]

Economic Divide - There is a perception of a growing economic divide in America, particularly between large corporations and small businesses, with large companies benefiting significantly from AI advancements while small businesses struggle [1][2] - Small businesses are facing challenges such as higher borrowing costs, cautious consumer spending, and economic pressures that disproportionately affect them [2][3] Small Business Performance - The percentage of unprofitable small companies in the Russell 2000 has decreased from 40% to 27%, indicating an improvement in the performance of smaller businesses [1] - Small businesses are expected to benefit from tax breaks and incentives, which may manifest positively in 2026 [1] Bankruptcy Trends - US small business bankruptcies reached a record 2,221 year-to-date as of mid-December, marking an 83% increase over the last five years [2] - The rise in bankruptcies reflects the economic pressures faced by small businesses, including the inability to negotiate prices with suppliers compared to larger corporations [2][3] Entrepreneurship and Investment - Entrepreneurship is reportedly at an all-time high, with younger generations seeking alternatives to traditional employment [5] - Access to the stock market is emphasized as a wealth-building opportunity, with 60% of adults participating in retirement programs that invest in the stock market [6][7] AI and Small Business Opportunities - Small businesses are beginning to leverage AI technologies, which can help them operate more efficiently and compete with larger firms [8][10] - The potential for small businesses to attract skilled employees from larger corporations during economic downturns is noted, which could enhance their operational capabilities [9]

RT Nick Szabo (@NickSzabo4)Corporatism vs. socialism: an awful dichotomy, like Odysseus having to choose between having his ships destroyed by rocks if he steered them a bit too far north, and being sucked in by a whirlpool if they went a bit too far south.Innovations at large social scales -- and I daresay I helped a bit with that myself -- have often been a great economic boon for mankind. Innovations in contract law, property law, financial markets, and related areas have, after maturation, often turned ...

Political Commentary - Javier Milei criticizes socialists in the UK for jailing people for social media posts [1] - Milei suggests journalists dislike social media because it challenges their monopoly on information and ability to defame [1] - Milei claims social media holds journalists accountable, which they oppose [1]