Elementary anti-spam.

Individual owners drive far more NIMBY policy than corporations. The rent of land exclusivity should accrue to the public rather than to private individuals or corporations.

Intel never made EUV machines, never claimed to make EUV machines, never aspired to make EUV machines, and have run multiple marketing campaigns bragging about the ASML EUV machines they purchased.

And even prior to EUV, Intel didn't make their own lithography tools.

"Lights out" has been the big automation meme since before China joined the WTO. Everyone has gotten better over time but it's still "high school sex bragging rules": a few people are doing it but not nearly as many as brag about doing it.

Pretending to not understand how game theory works is a choice -- more of a choice than customers have.

Companies are also constrained to do labor arbitrage once the rules allow it, but they were the ones who lobbied the rules into place and they were the ones to profit from the rules, so they have far more culpability here.

Triffin Dilemma, not laziness. This is a macroeconomic problem.

That's only for the US, not the West writ large.

Yes, but causality is backwards: the Chinese housing market stalled because China took the debt punch-bowl away from housing and gave it to the industrial sector.

It's also worth mentioning that loan subsidies play a bigger role in Chinese capital markets: Chinese industry is largely capitalized with state debt rather than private debt/equity or public markets. Zooming out, as a response to Trump's 1st term tariffs China went on a big autarky push by redirecting its citizens' and companies' deposits into a loan bazooka for the industrial sector. We are now seeing the fruits of that. The big questions have to do with (true) profitability and (true) balance sheets: can the new industries service their debts well enough for the government to hold face?

Elsagate is back, and this time she's after boomer gold.

But just think of how much money Meta could make by slopping fetish-bait over your brand and charging you for every click!

Don't give them ideas.

The last 100 years has been the era of the American Empire, which is monetized through the network effects of the dollar and dollar-denominated-assets. We don't have ships full of Potosí silver, but we do have 10% yearly S&P returns in an economy growing 3%. Extrapolating another year of that is probably reasonable, extrapolating another 100 years of that is probably not.

Yeah, it's easier to analyse the past than predict the future. I agree that I made a statement about the luxury of wealth the last century.

I don't know if the S&P500 will grow at the same rate the next century, but I am willing to bet a beer that stocks in wide index founds will grow faster than both inflation and average salary for the next century.