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Wow

🚨Elon Musk lanza una bomba sin precedentes desde el interior de la Casa Blanca y frente a Trump directamente: "¡No necesitarás trabajar para ninguna empresa a partir de ahora... Haré que cada persona en el planeta Tierra disfrute de un ingreso fantástico como las celebridades!" Con la IA y los robots produciendo bienes y servicios sin límites las 24 horas, el nivel de vida de toda la humanidad se elevará como si todos cobraran salarios astronómicos!

Via Canadian cartoonist Dave Whamond

The Buffett Paradox I was 24 years old when Warren Buffett invited me to sit next to him at a minor league baseball game in Omaha, Nebraska. It was the late 1990s and the Omaha Royals were playing at Rosenblatt Stadium during Berkshire Hathaway’s annual meeting weekend. Buffett sat to my right; people came up one after another. Autographs, pictures, handshakes. In between, I peppered him with questions. Buffett was already one of the richest men in the world, however what interested me wasn’t his wealth. It was how he thought about capitalism. Buffett believed the most important consideration was that capital should find good people. Give trustworthy people control of good businesses and resources. Let them work. Let them create real value over long periods of time. The product didn’t have to change the world, it could be Coca-Cola, it could be See’s Candy. What mattered was whether the people running the company could be trusted to allocate capital intelligently. Then we started talking about the estate tax. I thought I understood it. I didn’t. Buffett didn’t describe the estate tax as a punishment for rich people. He didn’t even principally describe it as a way for the government to raise money. He described it as critical part of the machinery of capitalism. Capital must circulate to ensure society adapts and grows. Europe had spent centuries building aristocracies in which enormous pools of wealth passed from one generation of a family to another and the continent had stagnated. America was built in direct rejection of this idea. Buffett argued that America must be different. The people who created great fortunes had demonstrated an ability to allocate capital. (Monopoly and regulatory capture were not so prevalent at that time to make money.) The children of the rich had demonstrated only that they had chosen their parents well. He gave me an analogy I never forgot. Imagine choosing the next Olympic team from the children of the current gold medalists. Maybe the fastest man’s son is fast, maybe his daughter is faster. But there is no reason to believe either is the fastest person in America….so why would we assume that the child of a brilliant capital allocator is also the person best qualified to allocate billions of dollars? Especially when this allocation is a critical function? Buffett’s argument was not against wealth. It was against an aristocracy that freezes the flow of capital to productive use. Break up enough dynastic capital and the money has to compete again. (This also assumes a trustworthy government that doesn’t squander our tax money on war and fraudulent government contracts.) The freed-up money finds the young entrepreneur, the engineer, the immigrant. The kid nobody has heard of with an idea nobody understands yet. The hungry people. That conversation changed how I understood the estate tax. I stopped seeing it simply as a debate about taxation. I began seeing it as a debate about who gets the next chance. Warren Buffett has spent his life arguing that capitalism works best when capital follows ability rather than bloodline. He has also arranged for the overwhelming majority of his personal fortune to be given away rather than simply inherited by his children. But now, at the end of one of the greatest careers in American capitalism, his son Howard is succeeding him as chairman of Berkshire Hathaway. There is an important distinction. Howard Buffett isn’t taking over Warren’s job running the company. Greg Abel is CEO. Howard’s role is different. Still, the symbolism is impossible to miss. The man who taught me that America should not choose its next economic leaders from the children of its previous winners—has chosen his son to guard the institution he built. Maybe there is no contradiction, just something endearingly human. But the larger principle he taught me that night remains more important than the irony. Healthy capitalism needs circulation, of money, of ownership, of opportunity, of power. When capital stops circulating, capitalism begins hardening into something else. The people who inherit the money keep the money usually with limited productive use. Children inherit the money, then they inherit the institutions and eventually they inherit the power. That isn’t capitalism finding the best and brightest. That’s the very aristocracy America was created to reject. I was 24 years old when Warren Buffett taught me the difference. I never forgot it Subscribe for free: dylanratigan.substack.com

Crosswind landing of an Airbus A340 🧈 📹: takeofftube

ON DONALD TRUMP---THE GREATEST LOSER IN AMERICAN HISTORY! It is damn obvious that the US has lost the Donald's idiotic war on Iran, which was no threat to the Homeland security of America on February 27th, anyway. It had no nukes, no weaponization program to get the bomb, no blue water Navy, no long-range bombers and no missiles with a range of more than 2,000 kilometers, which could barely reach the Strait of Gibraltar, not Washington DC. It also had a tiny military budget of $22 billion or 2.2% of the monstrous Pentagon budget of $1 trillion and $350 billion of GDP or 1.1% of the US $30 trillion. Still, Ding Dong Donald and Gymboy Kegseth lost the war! The Pentagon is nearly out of ammo and even the Donald doesn't have the stomach for a boots on the ground invasion of Iran, which is the only way that defeat can be avoided. The silver lining of the greatest US military defeat in history under the nation's worst, most incompetent president ever is that the scales may finally fall from the eyes of the America people. There is no need for a globe spanning empire of military forces, bases, naval armadas, deployments and Forever Wars from one end of the planet to the other----- just an invincible nuclear deterrent and a Fortress America conventional defense of the nation's coast lines and airspace. All of the latter could be funded on $350 billion per year, not the Empire's current $1 trillion. So there's that. That Donald's rash, impulsive launch of the War on Iran may finally point the way to a more peaceful world, sans the the utterly unnecessary, dangerous and bankrupting Empire bivouacked on the banks of the Potomac.

Tom Emmer: "Minnesotans are so afraid that you're gonna call us a racist, you're gonna call us an Islamophobe. You know what? I'm done being even the least bit careful. Somalis don't assimilate. And if they don't assimilate, then they should go the hell back to where they came from."

On @BBCRadio4 Start the Week at 9am tomorrow morning with Tom Sutcliffe, alongside @Jeremy_Hunt and @PatrickFoulis. I'll be talking about my new book The Common Good Economy, how economics lacks a coherent theory of the common good, and why that matters for how we design an economy that works for people and planet. Tune in at 9am on @BBCRadio4. Link in replies.

Pam Bondi's opening statement on her mishandling of the Epstein files blames her replacement, Acting AG Todd Blanche: "I did not lead every aspect of this effort or conduct that document review myself. I delegated oversight over this process to Deputy Attorney General Todd Blanche."

It's estimated that hundreds of thousands of cats were deployed in the trenches in WWI, aboard war ships and during WWII. They served as ratters and gas detectors but above all they were the mascots of the troops, giving comfort, reminding soldiers of home, family, and love.

The practical intelligence of this horse that was tired of being kicked.