Good thing you got the CPA’s blessing. Coulda been a STICKY situation.
I fixed it for you:
The monthly USD chart going back to 1970 is insane.
Are you guys in Montreal for the conference?
If so check out the pubs owned by Greg Foss. He is part owner of Ye Old Orchard Pub. Namesake is on Monkland (at Old Orchard) but there’s one in the plateau near the conference (on Prince Arthur).
MILLENNIAL VILLAGE
“Inflation is when you pay $45 for a haircut that used to be $15 back when you had hair.”
I went to a restaurant in Cambie Village.
Which is realtor speak for the gentrified area between Broadway and 25th. They even have their own Insta page. Which refers to the area as “one of Vancouver's primary heritage boulevards”.
The girl at the front Jess, holds her clipboard like it’s the Epstein list.
She tells us at 5:07 that we were too early for our 5:15 reservation. And she said it with a straight face.
When asked if we could have a drink at the bar, she quips that the bar is for walk-ins only.
Yet the 20 seat bar was 100% empty. First sign that we weren’t in Kansas anymore.
So we stumbled down to the adjacent hipster joint for a drink. Where Adam described the $29 Prosecco as having "hints of pear essence”. And said that it "tiptoed near the champagne region but with softer bubbles”. I must be in St. Tropez now.
When we returned to Jess’ place it vibed with Mills spending $30 on cocktails and $40 on crab dip.
The food was good but not great. The service was adequate but not stunning. And driving to Cambie Village in rush hour is a pain.
More striking than the prices was the ease with which most Mills pay them. Molly Millennial is ok with paying $15 for bread. And waiting in line to hand over $200 for dinner.
Then it occurred to me.
This demographic has never seen cheap prices. Because they were born into inflation.
They’ve never paid four bucks for a Bud at Bar None or five bucks for endless wings at Carlos 'n’ Buds.
Which is why it doesn’t bother them the way it bothers us.
So what does it mean?
Humans are adaptable. Inflation is not a new thing. It’s just new to us. People in Argentina, Venezuela, Turkey and Cyprus have been adapting for decades.
They cope by learning to store their wealth in houses. Or U.S. dollars. Or gold. And now on their phone in Bitcoin.
How did we get here?
Because politicians change the rules mid game to suit their narrative. To wit, the Orange Man fired the BLS economist in charge of the jobs data. Because he didn’t like the employment numbers.
He cajoles the head of the money printing cabal daily. Two of his potential replacements for Fed chief abstained from holding rates steady. (One abstention is unique. Two is a unicorn.)
Folks this is Banana Republic type stuff. What you’re witnessing is the Argentinisation of economic data.
And it’s a slippery slope where trust erodes fast. Trust in our institutions is already at all time lows. And next comes a loss of trust in our money.
The downstream effects are starting to appear. There’s no rush for Molly to get married. Or have kids. Birth rates in the western world are dropping to a point that we aren’t replacing ourselves.
The percentage of married 30 years olds who are also home owners has dropped to 75 year lows (see chart below).
As Martin Pelletier said on X, “What we did to a whole generation is shameful.”
In a word, we took away their hope. Hope of having a home. Hope of raising a family.
And when there is no hope, your time preference shrinks.
Might as well spend $58 on two ounces of Wagu. Take that $10k trip to the Amalfi coast. Why not. You’ll never be able to afford a house. Let alone a family. So what’s the point in saving?
But those non-savers end up leaning into the state for housing.
Which is why Nova Scotia is building affordable housing that looks like army barracks. Not shocking that it’s actually on an old military base.
Affordable, sure. But sole crushing and sad.
Back at the basement hipster joint “La La”, the DJ plays vinyl records from behind the bar. A hint at a desire for something real.
Molly the Mill pays for her drinks with a tap of her $1,800 iPhone. And the Gen-Z waiter knows to split the bill without even asking.
They uber everywhere and plan their sick days around long weekends. It’s early, and yet it feels like the joy has left the room.
We couldn’t get out of their village fast enough.
Foss taught me about super junk equity. And then orange pilled me 25 years later.
Lovely sentiment. And it’s better than the alternative. But the core error is that “you” cannot love your “self”.
Because that implies there are two of you. You and self.
You are yourself. Go beyond your mind. Separate the mind from the self.
MEET THE NEW BOSS
“Meet the new boss... same as the old boss.” -- The Who, Who’s Next 1971
Mark Carney is now the Prime Minister of Canada.
A change, it had to come. So our prorogued parliament did its job. By anointing a new king. Without an election.
That’s right folks. For the first time in history, a parliamentary democracy is being led by an unelected elite. A system that harkens back to the Magna Carta in 1215.
Now we’re led by a globalist bankster with ties to the World Economic Forum. Same as the old boss.
Carney the Technocrat (CTT) sailed through the Lib leadership race like Kessler’s AAA team. Stomping Chrystia The Impaler’s political career into the ground in the process.
He did so without having a seat in parliament. And never having held an elected office. So where’s the outrage? Can you imagine if the Cons had done something like this?
And yet, our mainstream media smile and grin at the change. Our national rag, The Globe & Mail contains no such outrage this morning.
Check the front page. Only selective indignation about the orange man. Because that’s what sells newspapers.
By the way, if you’re offended by Elon owning X, who do you think owns the Globe? That’s right. The wealthiest billionaire in Canada.
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I may risk offending my paying subscribers (zero). And losing my Facebook followers (also zero). But I’m compelled to take a tack aberrant from my usual miserable missives.
Folks make no mistake. We are witnessing a ‘new' revolution. Let me strip mine it for you.
Half the world has become unhinged, and the other half is celebrating. Red vs. Blue. Con vs. Lib. America vs. everybody.
Donny the Divider is doing what he said he’d do. And 86 million Americans voted for his protectionist policies.
Now Rocket Boy and his A.I. posse are putting government spending under a microscope. And that’s got anyone who’s been taking the dole scared stupid.
Rachel Maddow, Alyssa Milano, and the hosts at The View have lost their minds since the pugilist with the pompadour got in.
They can’t comprehend how fast the pendulum swung backwards and hit them in the derrière.
I know the hypnotized never lie, but here’s a crazy idea. Maybe we’ve been gaslit by the captured media.
The same media that told us that Sleepy Joe was "sharp as a tack", and Kamala was "polling well”. And that the jabs would stop the beer flu.
But none of that turned out to be true.
Up here in Snow Mexico, we’re outraged at a 25% tariff. Yet to quote Brittany, we’re not that innocent.
To wit, American cheese faces a 245.5% tariff, butter gets taxed at 298.5%, and over-quota milk incurs a duty of up to 292.5%. And rest assured, these taxes do not exist to protect consumers. They’re there to protect the interests of a few wealthy families.
The chicken and egg industries (whichever came first) operate under the same framework. With tariffs as high as 238% on chicken, 154% on turkey, and 170% on eggs.
That stifles competition and results in higher prices for beavers like you and me.
Our hypocrisy is blinding. We’re outraged at China putting 100% tariffs on our pork and beef, but say nothing about our 100% tariff on US bourbon.
Folks, this isn’t about left or right. The parting on the left is now parting on the right. And we all deserve better.
But how?
King Carney will call an election soon. He’s basking in the afterglow of his victory and will strike while the iron is hot.
What should we do?
Demand answers from both sides. Then get on your knees and pray.
We don’t get fooled again.
Too soon for the victims Len. Love your work though.
Precisely right. I’ll be using that phraseology. My FIL is a real estate developer. I’ve stopped trying to orange pill him because of his hubris born of success. He preaches cash flow and staying out of debt lol. Good thing my wife has been orange pilled.
*the future is a promissory note* (not present)
You're describing a technique that Eckart Tolle calls, "die before you die".
He would say that time is not scarce because it doesn't exist. It's an abstract concept that, as bitcoiners, we are perfectly suited to grasp.
The past is a cancelled cheque, the present is a promissory note.
The present moment is all that we have.
And all that anyone will ever have. Everything that has ever happened, happened in the now.
Spend that wisely.
Blue Horseshoe loves Bitcoin. Got it?
Well, IIRC they did burn down the White House in 1812....with the help of the Brits.
Canada has never lost a war with the US fwiw. And suffered proportionally more casualties in Normandy.
Plus, I think Canadian crude oil accounts for something like 60% of US consumption....if you take that out (because the US needs it) then the US actually runs a trade surplus w/ Beaver nation to the tune of $50 billion.
GM Nostr and happy first transaction day. Oh and this is cool:
GM Nostr.
Zap before you tap.
#zapitome
GM Nostr.
Stay classy and send zaps. #zapitome.
GM
nostr:nprofile1qyx8wumn8ghj7cnjvghxjmcpp3mhxue69uhkyunz9e5k7qg4waehxw309ajkgetw9ehx7um5wghxcctwvsq32amnwvaz7tm9v3jkutnwdaehgu3wd3skueqpp4mhxue69uhkummn9ekx7mqpp4mhxue69uhkummn9ekx7mqprdmhxue69uhkummnw3ez6v3w0fjkyetyv4jjucmvda6kgqgmwaehxw309ahx7um5wgknytn6v43x2er9v5hxxmr0w4jqz8rhwden5te0dehhxarj94ex2mrp0yh8wmrkwvh8xurpvdjsz8rhwden5te0dehhxarj94ex2mrp0yh8wmrkwvh8xurpvdjsz8rhwden5te0dehhxarj9e3xjarrda5kuetj9eek7cmfv9kqz8rhwden5te0dehhxarj9e3xjarrda5kuetj9eek7cmfv9kqz9mhwden5te0dehhxarj9enx6apwwa5h5tnzd9aqz9mhwden5te0dehhxarj9enx6apwwa5h5tnzd9aqzxnhwden5te0dehhxarj9ehhyctwvajhq6tvdshxgetkqyd8wumn8ghj7mn0wd68ytn0wfskuem9wp5kcmpwv3jhvqgjwaehxw309ahx7um5wgh8vvrv9e5k7qgjwaehxw309ahx7um5wgh8vvrv9e5k7qgswaehxw309ahx7um5wgh8w6twv5q3qamnwvaz7tmwdaehgu3wwa5kuegpzfmhxue69uhk7enxvd5xz6tw9ec82cspzfmhxue69uhk7enxvd5xz6tw9ec82cspzamhxue69uhhyetvv9ujucm4wfex2mn59en8j6gpzamhxue69uhhyetvv9ujucm4wfex2mn59en8j6gpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq3gamnwvaz7tmjv4kxz7fwv3sk6atn9e5k7qg5waehxw309aex2mrp0yhxummnw3ezucn8qy28wumn8ghj7un9d3shjtnwdaehgu3wvfnszxrhwden5te0wfjkccte9eekummjwsh8xmmrd9skcqgcwaehxw309aex2mrp0yh8xmn0wf6zuum0vd5kzmqpzemhxue69uhhyetvv9ujuum5dahx2u3wvdhk6qgkwaehxw309aex2mrp0yh8xar0dejhytnrdakszgthwden5te0wd682er9de6zucmgv9j8qmmv096x2cmgde5kxtnrdakszgthwden5te0wd682er9de6zucmgv9j8qmmv096x2cmgde5kxtnrdaksqg8de5s9trchmxfj0kzpu3vzlxcqvvc6csqssph05qsw7r2qq78xmggzp3mr completely orange pilled my wife thanks to God Bless Bitcoin.
Our anniversary is the same day as the genesis block ... so it was inevitable.