You know, normally here on Vel, we pepper the show with economics. Feels like we've been talking a lot about economics recently, particularly because of that one big beautiful bill act, but there's some other economics going on. We want to talk to you more broadly about it.We got a new jobs report on Thursday. On its face, the jobs report uh shows a pretty healthy situation, but as always, we like to go behind the numbers, and that's why I've got Caleb here. Joining me to take a look at the current state of ...

While in the top phase, most of these strengths are sustained, embedded within the fruits of their success are the seeds of their decline. As a rule, as people in these rich and powerful countries earn more, that makes them more expensive and less competitive relative to people in other countries who are willing to work for less. At the same time, people in other countries naturally copy the methods and technologies of the leading power, which further reduces the leading power's competitiveness.For example, ...