🇺🇸 Roger DeReu 💵📈

People on welfare have demonstrated they can't run their own lives, they certainly shouldn't be running the rest of our lives. And, yes, welfare includes federal workers.

Controversial take: As those who follow me know, I'm no socialist But I'm not a fan of accelerating wealth concentration either (see below stats) I'm of the mindset that if you invent the next Google/SpaceX/etc you should reap the full rewards in your lifetime Work your way to billionaire status? Go ahead, live like a king. But should you be able to set up your family for dynastic dominance for generations to come? There's something about that that doesn't sit well with me Absolutely you should be able to leave your heirs "plenty" ($20 million per heir?) so that they'll be well off. But not so much that they can influence society's orbit with their inherited mega-riches (e.g., Alex Soros) How best to achieve this? And if your heirs don't get your excess wealth (beyond my "plenty" allotment), who does? I don't have a great solution to propose (yet) On theory my preference would be for the wealth to literally vaporize. No one gets it. Your excess assets would be liquidated and the proceeds would go to money heaven. That way, the purchasing power of every other dollar in circulation would slightly increase -- benefitting all. And the govt wouldn't amass a massive estate tax surplus that would surely get abused and wasted. But the practicalities of implicating such an idea are probably so complex as to not be realistic (what to do with illiquid assets?, for one) Maybe your excess wealth goes towards paying down the national debt? Or funds critical infrastructure? The problem is, this would actually incentivize Congress to be even more fiscally profligate as they would come to count on your estate proceeds to subsidize their spending. Like I said, I don't have a neat solution to propose (yet). But I do noodle on this frequently and would appreciate any constructive ideas any of you may have to share. Or, we just accept that the aristocrat class will continue to invest its compounding wealth over the generations towards furthering its own advantage. That's largely how the world has worked so far. The danger, of course, is that when the concentration of wealth becomes too lopsided, class warfare erupts and the guillotines come out. I've toured the catacombs under Paris -- they are gruesome.

I guess GM doesn't care what people want. General Motors is introducing two new naturally aspirated Gen 6 Small Block V8 engines for the 2027 Chevrolet Silverado 1500 and the 2027 GMC Sierra 1500. However both the new 5.7-liter V8 (L76) and 6.6-liter V8 (L78) will continue to use GM's Dynamic Fuel Management (DFM) system. This that cylinder deactivation system that many people hate as its been very problematic in the past. Many owners of trucks that have that system have paid extra to have it deactivated. It uses the ECU to monitor load and throttle inputs to run the engine on as few as two cylinders or as many as all eight. It automatically shuts down individual cylinders during light cruising or low-speed operation, and re-engages them as power demands increase. (when it doesn't malfunction) Previous ones have had long-term reliability concerns over collapse prone valve lifters and associated pushrod wear. And to rub more salt into that wound, GM is removing the traditional engine oil dipstick and replacing it with an electronic oil monitoring sensor. That has already generated bad feelings from prospective shoppers hoping for a back-to-basics approach after the numerous issues faced by GM's fifth-gen small-block V8s. How about making a simple truck with a basic engine and leave the dipstick alone GM

Alberta rejects separation, with 76% voting to remain in Canada.

Bessent says mortgage rates and bond yields will fall once the Iran war ends.

And there, done that... I burned the T-shirt...

Overheard a couple in their late 20s having an intense argument at an airport lounge yesterday. They have $60,000 saved up between them. The guy wants to put $50,000 toward a down payment on a duplex to lock in housing security before starting a family, and spend $10,000 on an intimate backyard wedding with close friends and family. She refused: “I am only getting married once. A $10,000 wedding looks cheap on social media, and I’m not serving tacos in someone’s lawn. We need a proper venue, videographer, and open bar for 150 guests. We can rent for another two years.” He looked completely exhausted: “You want us to burn four years of combined savings on an 8-hour party to impress people we talk to twice a year?” Her reply: “If you loved me, you wouldn't make me negotiate down the one day I’ve dreamed about since I was eight.” Rent for 2 more years to give her the dream wedding, or is this an immediate dealbreaker?

Boomers bought $300k home at 2.75% mortgage. Gen Z buying same house for $800k with 6.7% mortgage. Stop calling this a home-buying problem. It’s an interest-rate problem.