“To be clear, China has many significant problems of its own. It faces a demographic crisis: Its working age population has been shrinking for more than a decade. Its economy is deeply unbalanced, relying on unsustainable trade surpluses and unproductive investment to make up for inadequate consumer spending. Its economic growth is slowing. It suffers from high youth unemployment. Discontent is rising, held in check by autocratic, police-state measures. But despite China’s domestic troubles, in geopolitical terms China is on the ascendant. Trump’s visit to Beijing is a field trip by a failing, flailing would-be autocrat pleading with a real strongman, who leads a much more serious country, to bail him out of the mess he’s made.” (05/14/26)
“AIs excel at pattern recognition, correlation spotting, and out-of-sample prediction from vast datasets; they do not deduce the impossibility of economic calculation under socialism, the coordinative power of market prices under private property, or why fiat results in boom-bust cycles or all manner of unproductive financialization schemes.” (05/14/26)
