Debt
The Washington Post: “Across Europe, and especially in France, the bill is coming due. The cost of a signature brand of humanist economics — the so-called European way of life, which offers healthcare, affordable education, and a dignified retirement to all through high social spending — is becoming unbearably high.
In France, as the nation’s debt soars, its credit rating slips, incomes stagnate, prime ministers fall, and the country stumbles into ungovernability, the public is grappling with two questions:
Will millennials and younger generations lead worse-off lives than their parents and grandparents? And if not, who will pay for the continued comforts?
“This is the last stop before the cliff,” Lecornu’s predecessor, Prime Minister François Bayrou, had said before he was ousted last month by lawmakers after presenting a budget that would have required deep cuts, including eliminating two national holidays.
Related challenges loom in neighboring Germany, where the economy is flat after two consecutive years of decline, companies are shedding jobs, infrastructure has crumbled, and the government is bracing the populace for tumultuous cuts — even as borrowing costs remain low and most Germans still enjoy a high standard of living.
As in the United States, a ballooning number of retirees is raising pension and health care costs just as low birth rates and a backlash against immigration threaten to shrink the workforce and erode the tax base.”
Yesterday – RE: China
President Trump on Truth Social yesterday: “Some very strange things are happening in China!
They are becoming increasingly hostile, sending letters to countries worldwide that they aim to impose Export Controls on every aspect of production related to rare earths and virtually any other item they deem relevant, regardless of whether it is manufactured in China.
Nobody has ever seen anything like this, but essentially, it would “clog” the Markets and make life difficult for virtually every Country in the World, especially for China.
We have been contacted by other Countries who are extremely angry at this sudden and unjustified trade hostility. Our relationship with China over the past six months has been a very good one, which makes this move on Trade all the more surprising.
I have always felt that they’ve been lying in wait, and now, as usual, I have been proven right!
There is no way that China should be allowed to hold the World “captive,” but that seems to have been their plan for quite some time, starting with the “Magnets” and other Elements that they have quietly amassed into somewhat of a Monopoly position, a rather sinister and hostile move, to say the least.
But the U.S. also has Monopoly positions, much stronger and more far-reaching than China’s. I have just not chosen to use them; there was never a reason for me to do so — UNTIL NOW!
The letter they sent is many pages long, detailing with specificity every element they want to withhold from other Nations. Routine things are no longer routine at all.
I have not spoken to President Xi because there was no reason to do so. This was a real surprise, not only to me, but to all the Leaders of the Free World. I was scheduled to meet President Xi in two weeks at APEC in South Korea, but now there seems to be no reason to do so. The Chinese letters were especially inappropriate in that this was the Day that, after three thousand years of bedlam and fighting, there is PEACE IN THE MIDDLE EAST. I wonder if that timing was coincidental?
Dependent on what China says about the hostile “order” that they have just put out, I will be forced, as President of the United States of America, to counter their move financially. For every Element that they have been able to monopolize, we have two. I never thought it would come to this, but perhaps, as with all things, the time has come. Ultimately, though potentially painful, it will be a very good thing, in the end, for the U.S.A. One of the Policies that we are calculating at this moment is a massive increase of Tariffs on Chinese products coming into the United States of America. Many other countermeasures are, likewise, under serious consideration. Thank you for your attention to this matter!”
Dumb Money
The American retail investor, the once dismissed “dumb money,” has become a central actor in the 2025 market narrative, wielding unprecedented influence over daily flows, sentiment, and even price action itself.
The data tells the story. According to Vanda Research, self-directed investors poured $155 billion into U.S. stocks and ETFs in the first half of 2025, the largest six-month total on record. J.P. Morgan reports $270 billion in retail stock purchases through April, with projections topping $600 billion for the whole year.
On a single trading day in April, individual investors accounted for a record 36 percent of all market order flow. That’s no sideshow, that’s market muscle. Several forces are driving this surge. The “buy the dip” reflex remains deeply ingrained in retail behavior, and the pandemic-era revolution in trading access, fractional shares, mobile platforms, and commission-free execution has become a permanent part of the market.
Critically, the unit transaction cost for individual investors has never been lower. Over the past decade, trading costs have fallen from a few dollars per trade to zero effectively, spreads have tightened, and execution quality has improved dramatically through internalization and smart order routing. Retail investors can now deploy small amounts of capital with institutional-grade efficiency.
That frictionless access has transformed casual participants into active market players, amplifying their collective presence. The macro backdrop has poured fuel on this democratized fire.
The expectation of Federal Reserve rate cuts in 2025 has bolstered risk appetite, while resilient growth and AI-driven optimism have reinforced retail conviction that the bull market still has room to run.
That same optimism is also a vulnerability; a shift in macro tone, a delay in cuts, an inflation flare-up, or a geopolitical shock could quickly test the staying power of retail enthusiasm. At the same time, concentration risk is quietly building beneath the surface.
Despite their vast numbers, retail investors often crowd into the same handful of megacaps and thematic darlings, NVIDIA, Tesla, AMD, and other AI-linked names, creating pockets of extreme valuation and volatility. These trades can turn on a dime. When sentiment cracks, the very stocks that powered retail gains can become the epicenters of drawdowns.
Then there’s the passive vs. active paradox.
The retail revival doesn’t contradict the massive migration into index funds and ETFs; it complements it. The “core” of the household portfolio remains passive and long-term, but the “satellite” or discretionary sleeve has expanded, becoming far more engaged and opportunistic. This active portion, whether it’s a few thousand dollars on a smartphone app or a six-figure brokerage account, now wields influence once reserved for hedge funds. Put simply, the barriers to participation have been largely eliminated.
Costs are near zero, information is instantaneous, and retail investors trade with a speed, coordination, and conviction unimaginable even a decade ago. The result is a market more democratic and more emotionally charged than ever.
The “little guy” isn’t so little anymore. The retail investor has evolved from a spectator to a participant, from a meme warrior to a market mover. While concentration, macro dependence, and herd behavior remain ever-present risks, the structural trend is clear: the position, capabilities, and access for the “Little Guy” is the best it has ever been for those who are investors.
Book Review – Academy of Outcasts
I am not much of a fantasy/sci-fi reader. My tastes usually go to more of a hard science-fiction, however, I have enjoyed reading Larry Correia’s new book (first of a series), Academy of Outcasts.
You can tell when an author enjoys writing a book, and Correia enjoyed his work here.
Bullet Points:
** 571 The facts and figures are interesting. Is it racist to point out that the bulk of the murders in Chicago are black on black in a black controlled city with a black city council majority and blacks who run the police department? I won’t point it out if it’s racist to do so.
** The liberals are not amused. “Following announcement of ceasefire-hostage agreement, US president set to make quick trip, likely on Sunday; PM invites him to address Knesset, families ask him to speak at Hostages Square.”
** North Korea is sending 30,000 more troops, some of them support forces, but most of them trained for combat. These reinforcements are expected to arrive within three to four months. Up until now, the most significant North Korean contribution has been munitions. This includes millions of artillery shells, hundreds of ballistic missiles, and other items the Russian military desperately needs. Most of the first 12,000 North Korean troops have been killed or wounded. None of the 4,000 dead are returning to service, and their wounds are permanently disabled, and an unknown number of the injured.
** Why are toxic women better in bed? It’s explored here.
** UPDATE: One day after it was revealed that the Biden FBI had spied on private communications and phone calls of Republican Congress members, FBI Director Kash Patel announced that employees involved had been fired and their CR-15 squad abolished. In a statement to Fox News Digital, Patel wrote, “We are cleaning up a diseased temple three decades in the making — identifying the rot, removing those who weaponized law enforcement for political purposes and those who do not meet the standards of this mission while restoring integrity to the FBI. I promised reform, and I intend to deliver it.”
** The Federal Government spent $2 trillion more in 2024 than it took in in revenue. That averages spending $5,479,452,054 a day, every day, more than the government has in the bank! This is an unsustainable deficit. Once people acknowledge that this is a problem, how do we address it? Unfortunately, programs such as Medicare are sacred cows.
(VM Note) I was looking for a new healthcare plan a couple of weeks ago and specified that I didn’t want a medicare plan. The people I spoke to said that it was required because I’m over 65. What if I don’t want it? It doesn’t matter; you have to use it. Yes, I pay into it every quarter, and it’s taken at the point of a bayonet, but what if I don’t want to use what I’ve paid for?
It doesn’t matter what you want!
** The US Stock Market environment is now a situation where everything feels like derivatives trading, where manipulation is a minute-by-minute occurrence, and where the huge players like BlackRock can manipulate the market at will. Gold has long been the choice of manipulation, but with central banks buying it by the ton instead of the OZ, it’s currently too big to rig.
** Ah, the British. Sometimes things look ridiculous to me. Different countries, different customs.
North Korean Voting Machines
I’ve confirmed through knowledgeable sources that Iran has bought North Korean voting machines for the Shiite-controlled governorates in Iraq in an attempt to gain influence in the parliamentary elections coming up on 11 November. Who wouldn’t trust Nork voting machines to be accurate? I’m sure that they’re every bit as good as the democrat voting machines in the USA.
If Iran obtains political sway in Iraq it will mean a US embargo on Iraqi oil (Basra Medium and Basra Heavy) and possibly an end to the oil flowing to Turkey through the Kirkuk–Ceyhan Oil Pipeline, also known as the Iraq–Turkey Crude Oil Pipeline. It is a 600-mile-long (970 km) pipeline that runs from Kirkuk, Iraq, to Ceyhan, Turkey. It is Iraq’s largest crude oil export line. The pipeline consists of two pipes with diameters of 46 inches (1,170 mm) and 40 inches (1,020 mm) and a designed capacity of 1,100 thousand and 500 thousand barrels per day (~5.5×107 and ~2.5×107 t/a) respectively. The usable capacity of the line is believed to be only 300,000 barrels per day (~1.5×10^7 t/a), with significant repairs still required.
Contrary to news reports, the oil piped through Turkey originates from Iraq (Kirkuk) and not Kurdistan.
While We’re On Voting Machines
Dominion Voting Systems, the maker of the electronic voting machines that sparked numerous accusations and lawsuits following the 2020 election, has been sold to former Republican election official Scott Leiendecker, who is now the sole owner. He said the company will be renamed Liberty Vote, will be entirely under American control, and will comply with President Trump’s executive order on hand-marked paper ballots and incorporate “rigorous third-party auditing standards.” There were also reports that defamation suits against prominent critics, such as Rudy Giuliani and Mike Lindell, would be dropped. However, other reports disputed this, noting that some suits, like Giuliani’s, had already been settled. If I can dig up any clear answers, VM will have a more complete report next week.
Identify the Ship
1
Identify the Aircraft
2
3
4
End
1 is Admiral Makarov Russian guided missile of the Admiral Grigorovich-class.
Corrrect!
2 is Kamov Ka-22 Vintokryl. 1950’s Soviet 4 built and 2 crashed.
1 – Russian frigate Admiral Makarov
2 – Soviet Kamov Ka-22
3 – Dassault Rafale B
4 – Russian Mil Mi-28N Havoc
Excellent.
Exiting the limo…..was that the Chief Peacock that was the last to exit?
I can’t say. Not because I fear being culturally insensitive by misidentifying. Both the guests of honor and the rag-tag racially and gender appropriate honor guard seem to be a little — off.
Heard this line the other day: “The Federal Government has $38T LESS THAN no money.”
Puts it into perspective. Yet the goofballs running things [into the ground] are purposely tone deaf to that fact, demanding MORE spending on things that should not be in their grubby hands purvey. “Follow the money” always holds true.
TIME FOR A FRAME UP OVERHAUL ™
(Patel/Bongino are chipping away in their shop, and despite doubts, Bondi as well…we just don’t see it out here in the North Forty.)
***
‘571’…is what they are admitting. Doesn’t matter…not ever again driving into Chicago, those in charge have somehow managed to convince themselves all is just peachy while allowing criminals to run rabid. Same goes for Minneapolis, or Philly, or NYC, or, or….pick any DemSocialist run city. Almost as if they desire Third World Hellhole status. Nah…that couldn’t be it.
***
Medicare- Repeal this bloated mess created out of thin air by the SSA in 1965…nothing but a grift (when the nebula send you multiple tree wasting ‘handbooks’ that most people toss in the burn barrel…or all of a sudden you get a hundred mailers by “We will help you navigate Medicare” consulting firms”…that’s a sign something is seriously convoluted on purpose.)
It’s easier to give away deficit dollars than it is to claw them back.
Like normal people (aka NOT a politician or accountant) I was taught that if you had a dollar and spent $1.25 you were 25c in the hole. Apparently THAT IS SO passe’. If you are government and you are $38T in the hole…aahh, that’s chicken feed, let’s spend some more of what we don’t have.
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Fed:”JEEVES, PRINT MORE MONEY! Gettin’ kinda low for “appropriations.”
Jeeves: “But sir, the press is starting to lose a bearing and the bill stacker is starting to smoke, and we’re runnin’ outta ink as our Chinese sole source was shut down by Xi with a collapsing economy.”
Fed: “Ahh, c’mon Jeeves, that’s nothing, throw a little WD40 on it, it’ll be fine…and I’ll make a call to my direct line contact in Beijing, get you that ink.”
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“Deficit Dollars” is a term for thievery and seriously bad money management by those who couldn’t balance a checkbook, or worse, know how to locate and purchase a dozen Non-GMO Range Free Organic eggs in the supermarket. It’s even worse…those in the General Public voting Blue don’t give a rip, thinking the productive members of society will continue plugging holes in the soon to break dam if these imbeciles continue printing a dollar then spending $1.25.
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[That was supposed to be humorous…unfortunately, it’s close to true, which is pretty poor…like the Nation.]
Speak about great timing, I just received my Medicare paperwork today!
When I retired, coming up on 10 years ago, the last place I worked kept me on their employee’s insurance until Medicare would start. I went through the it doesn’t matter what you want! phase. That leads to adding that a lot of us argued back during that flail that Obamacare was designed to fail and it now seems that applies to the entire government/medical complex.
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The number one rule of working with government programs is that lawmakers never, ever ask “and then what happens?” The next question is since they seem incapable of doing 4th grade arithmetic do you really want their answer?
My 4th grade question is what happened in 2017? Republican majority in the house and the senate, and ” UNEXPECTEDLY ” they couldn’t repeal the ” unaffordable care act”? The Uniparty had ping ponged it back and forth since the days of Billy the perv. Then the most treasonous Prez said, ” I have a pen” and magically a 1,000 + page plan was enacted back in early 2009. Noone can tell me it got typed up that fast.
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Nancy- ” We have to pass Abominal care, to be be able to read and THEN find out what it’s all about” ( paraphrase)
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…and now what’s happened? SiG, you get to choose your doctor.( in network and IF taking new patients) Your doctor gets to do 3x the paperwork and wait twice as long to get paid for 1/2 as much. Inflated rates for policies plague the system, but pale in comparison to the affects of the 2nd worst Prezy’s Inflation ” Reduction ” Act.
When you drill down to the realities of the profession, what is the appeal to being a doctor in 2025? The Ukrainians, Indians, Pakistanis and Chinese who dominate the healthcare industry seem to like the job, but I don’t know. Do we need GOOD doctors? Oh, hell yes. But it’s increasingly difficult to find one. My doctor of 30 years (my age roughly) retired. I’m now working with one of his protiges but he’s going to punch out in two years and become a miner (he’s a gold miner by avocation).
My cardiologist retired. As it happened, I was her very last patient on her very last day. The one I see now wants to order all kinds of needless tests and treats me like a “patient” and not an adult. I do a remote pacemaker check twice a year and decline any new appointments.
I refuse to see a doctor, the last two were owned by Big Pharma and scanned their computer ‘DiagMatrix’ more than looking at me. Urgent Care PA was leaps better, actually looked at me and asked proper doctor-type questions. Oh, and I knew what it would cost me going in, not some cost nebula only the Starship Enterprise could navigate.
ProTip—in the event you haven’t gotten the multiple reminder texts, emails, mailers, or calls…October 15th is the start of Medicare Open Enrollment.
Geez, what a crock. Same with O-Care. REPEAL both of these government failed medical delivery systems, minimally phase them out, allow the market to handle what they are experts at (after that system is overhauled and government/insurance shackles are released).
I felt the same way about doctors for 5 years.
Finally decided to at least get a primary care physician that was in the same city as me as opposed to the one the insurance company had assigned me.
As I was walking out the door of her office after a 20 minute visit, I asked if I should get a blood workup. She asked if I thought that was necessary.
I said, well it has been 5 years….
The rest you know.
I’ve used the word “askance” more than once; to look or to view askance meaning to look sideways or at a slant at something or someone; it says nothing about the facial expression, which I would assume is (un)usually skeptical.
I’m wondering if it could be used with the word “examine” as in I’m currently examining askance all of the commentary I’ve been reading about Medicare (or with extremely strong skepticism).
‘Bout 10 years I’d have stood alongside all those who say, “Git the gubbmint’s grubbers outta my pocket(book), but shortly thereafter I was faced with a (open) heart valve replacement, removal of half my pancreas++ (whipple surgery) along with concommitant problems of a lack of insulin production, and myasthenia gravis.
If the cost of all these tests, procedures, and monthly check-ups had to come out of pocket, somewhat supplemented by excellent health insurance coverage taken out and paid annually since age 26 (hmm! if you don’t mind very much, we can discuss that Ponzi scheme another time), I’d currently be poverty-stricken.
Needless to say over the past ten years my attitude towards Medicare has changed significantly and I’d like to thank all you good people out there (somewhere) keeping me from destitution.
I am not forsaking medical insurance. I would rather not have the government’s hands in everything. But what I want doesn’t matter. I’m forced to deal with Medicare one way or another because it’s the law of the land. I was paying for my own healthcare insurance before I turned 65. MRSLL is not yet 65 and she must have a different policy than mine because she is not yet of age for the government subsidy to kick in.
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When the government puts its moldy claw on the scale, things go wrong. Some people are indigent and need a safety net. I understand that and don’t oppose legitimate U.S. citizens receiving basic care as a matter of charity. What I have seen in places like California is that the indigent receive complete Cadillac care for all of their medical and dental needs at absolutely no expense to themselves. I know this to be a fact. I have spoken to local (Arizona hospital administrators – I know two personally) who have discusssed the ObamaCare benefits shoveled out. Illegal alien women who are pregnant should be identified to ICE and deported before they have their US Citizen anchor baby. Illegal Alien birthing operations should be aggressively pursued. The illegals should be deported and those providing the scam (at $30K a month) for the anchor babies need to be imprisoned.
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End of rant.
I don’t recall paying for Medicare part A when I turned 65. But if I hadn’t signed up for it, now at age 72 and having lost private insurance, I would be fined $90 a month for not having signed up. For the rest of my life.
It seems Medicare A picked up expenses for my wife’s shoulder replacement that would have been out of pocket to me under my private insurance.
I am trying to convince a friend of mine who just turned 65 that he has to sign up for the above reason.
He’ll believe anything I tell him about electricity or physics, but he’s struggling with this.
You don’t have a choice. Pay them or they fine you. It’s a tax and there is some benefit to it. I can’t help but wonder if there was tort reform and an elimination of government involvement if the prices wouldn’t drop significantly.
Medicare; dealing back what they’ve taken by duress. I’m facing the music of this tune in the coming year. AND the deduction for general hospitalization along with the plans A-Z.
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For those who have planned and saved / invested ahead, all my respects. My cynical mindset thought the system would have been long gone by now, due to all the borrowing, medicaid, lack of younger generations paying in, I.E. 68m + abortions. Now the illegal horde is going to solve the labor shortage and float the seniors on this cruise ship they’ve created? I call BS on the Post and MSM. The destination is ” The Island” 2005. For the privileged, ” Elysium” is dealt to the trunicated top of society with the latest technologies.
I haven’t been to the doctor lately (post-Trump deportations), but during the Pedo Joe Biden Regime, at least half, if not more, of the people in the waiting rooms at the hospital were speaking Spanish (only). It wasn’t that way before the flood of illegal aliens across the Southern Border.
Britain: Do you suppose the dude in the fur hat actually knows how to use that sword?
That would make him at least hypothetically worthwhile as a human.
– Kle.
No, I’m positive he does not.
The Lady who carried it in the recent Coronation looked like she could handle a sword. And she was a serious babe, too.
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That wanker out of the car? Not so much.
Toxic women: like many people today, their focus is on me, me, me!
No love for the other significant other in their lives; if they even have a significant other.
Amen. From your mouth to God’s ear.
Why are toxic women better in bed? Because they’re farking crazy.
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This has been know for decades, if not centuries or millennia. Don’t stick your Richard in crazy. If you do, don’t marry crazy.
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In other words, crazy is for cheap sex, stable is for long term commitment. Broad painted strokes, but there’s much truth in that statement.
I’ve been looking forward to Academy of Outcasts since Larry announced it. His Hard Magic trilogy checked all kinds of boxes for me, more so than his other fiction.
David Weber does great hard SF – I especially enjoyed the Safehold series (simultaneously hard SciFi and historical fiction) and the Out of the Dark trilogy
At a bookstore not long ago and picked up a new Weber book. Starts off as standard alien invasion, then it ends with the humans being saved by vampires. Me – ???????
Vampires = democrats?
Yep, that’s the one; the second book delves into that a bit, and it winds up being quite a bit more hardcore SciFi than the deus ex machina the 1st book seems to end on.
Does that info come via a David Data Dump?
surgerycenterok.com posts their prices, which are much cheaper. However they are a ‘doctor-owned hospital’, and the Affordable Care Act banned the creation of new ones or the expansion of existing ones.
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I hear ads for http://www.joincrowdhealth.com, which is not insurance, but a coordinating mechanism for people to crowdfund each other’s medical bills. The web site says they ask for no more than $280/month for age 55+, and you pay no more than a cap of $500 for each health problem. You get access to a team to help you shop for caregivers and procedures. I believe there is a two year exclusion period for preexisting conditions.
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Since there are tribal casinos, could there be tribal hospitals?
I live near Navajo, Apache and Hopi reservations. The regional hospital that serves that population in part is almost totally dependent on Medicaid for survival. They’ve become dependent on federal money. If that sounds familiar, it should. They are closing most of their services, shifting maternity for example to Flagstaff, which is already overwhelmed.
I’ve heard of the co-ops you refer to, but don’t have any personal experience with them.
The federal control over healthcare seems almost absolute because of ObamaCare. If it’s repealed there need to be alternatives in place. Not all healthcare plans are available in all 50 States. Various legislatures seem to have the ability to block private plans. Allowing all companies to compete in all markets would seem to me to be a vehicle to make it all more affordable.
Why would I need to pay a healthcare agent to navigate the Byzantine world of insurance? But apparently that’s the thing now.
And we haven’t begun to discuss dental insurance.
Re: 571. The greatest threat against black people is… black people. The greatest threat against any other people is black people. Used to be just black males but the black females are getting seriously involved in the murder-death-kill racket.
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Is that a racist thing to say? Well, if you’re a liberal turd-head, then, yes. If you actually have functioning brain cells, no. It’s a survival thing, stay away from the Ghetto People.
I moved to very rural Northern AZ to absent myself from inner city people. So yes, Beans, I get it.
As to Xi and his proclamation, any fool (or even your random Beans) could have and have seen this coming for 20 years or more. Duh. Really, people.
we’ve all been discussing costs and how to obtain the least expensive medical care and more bang for your buck,
Please consider: you always (perhaps not always, but usually) “git what y’ pay fer!”
You can’t get top-notch medical care for pennies: good, well-trained physicians and up-to-date diagnostic machines are expensive; medications can usually be batch-produced, but research costs; Fauci, the power-hungry, grifter, hopefully, was an anomaly.
better minds than mine will have to seek ways to remove “government” and the “insurance industry” from healthcare; perhaps individually funded non-taxable accounts, say 10% of ones’ earnings set aside every year?