Chainsaw First

One of the mysteries of life is why a large cross section of the population is opposed to freedom. When given the choice of liberty and independence they resist.

They demand more government programs. More government intervention in the economy. And more meddling in their lives.

Like pigs rolling around in their waste, this is where they find comfort. The recent election of Zohran Mamdani, an ardent socialist, as Mayor of New York, bears this out.

On rare occasions, however, when the failings of big government have stacked up to utmost misery, people will finally get it through their thick skulls that more government is not the solution; that, rather, it has been the problem all along.

Argentina, after a near century of big government madness, has happened upon one of these rare occasions. The public has finally awakened from its collectivist hangover. In fact, this was recently reaffirmed by the outcome of the Country’s midterm election.

In today’s guest article, Joel Bowman, our man on the scene in Buenos Aires, Argentina, updates us on the latest happenings with President Javier Milei’s ongoing experiment with libertarianism. After giving it a read, please head over to his website and subscribe to his newsletter so you can continue to follow what’s going on in real time. Continue reading

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Waiting for a Punchline that Never Comes

“When you masturbate with the hand of fate expect the worst because life is a JOKE!”

– Charlie Vurmin

(Artwork by Charlie Vurmin. Source: Institute of Sociometry)

Hard Luck Chuck

Some actions in life are so terrible they’re impossible to reverse. There are no second chances. There are no do overs. The wreckage is lasting.

Charles Twain Clemans, also known as Charlie Vurmin, was a disreputable early ’90s Pacific Beach punk in San Diego, California, and a member of the small-time beach gang, the P.B. Vurmin. Our circles briefly overlapped through the eclectic, and sometimes destructive world of skateboarding.

While sessioning a famous grade-school playground skate spot in suburban San Diego one afternoon, Chuck made a lasting impression on us, and everyone there – a large collection of skaters, punkers, and derelicts – by publicly defecating on the concrete embankment in broad daylight.

Socially deviant behavior. A guy running around with a few loose screws. What could possibly go wrong? Continue reading

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Laptop Class on Notice

Amazon was busy this week, sending out pink slips. When it’s all said and done, this massive round of layoffs could hit up to 30,000 employees. This amounts to about 10 percent of the entire corporate workforce.

The reduction in force (RIF) is expected to spread across several departments, including Human Resources, Cloud Computing (AWS), and Advertising. Moreover, this is Amazon’s largest RIF since 2022, which eliminated around 27,000 jobs.

The massive layoffs have several aims. First, to address the remaining excess of the pandemic hiring spree, when online shopping boomed and Amazon doubled its warehouse network. Second, CEO Andy Jassy says he wants to use Artificial Intelligence to “do more with less.”

In other words, these layoffs aren’t merely a reaction to typical economic headwinds – things like high prices or a slower market. Rather, they’re part of a structural shift for big corporations and will have permanent consequences for business, labor, and the economy. Continue reading

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Dollar Debasement as Permanent Policy

Fed Chair Jerome Powell recently stated quantitative tightening is about to end. What’s more, this will happen well before the Fed’s balance sheet ever gets close to $4 trillion, which is where it was prior to the coronavirus money printing festival.

If you recall, between 2020 and 2022 the Fed spiked its balance sheet to $8.9 trillion. To do so it created credit out of thin air and loaned it to the U.S. Treasury through purchases of Treasury securities. This process is known as quantitative easing.

The Treasury used the debt infusions to send out round after round of stimmy checks, among other things. This drove consumer price inflation to 40-year highs.

Any hope consumer prices would ever return to their pre-2020 level is gone. Over the last three years the Fed has brought its balance sheet down to about $6.6 trillion. Now it’s throwing in the towel before the job is even halfway done.

Last week, while speaking at the National Association for Business Economics conference in Philadelphia, Powell said: Continue reading

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