Understanding how money moves the world.

United States
PocketEcon retweeted
Replying to @WallStreetApes
Pretty obvious why this is happening. A study with Amish kids was done showing they have no austism and other diseases prevalant in the vaccinated population. Hmmm, try and erase the only control group showing the crimes of pharma.
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PocketEcon retweeted
Replying to @mitchellvii
Americans are richer than ever in real terms, even with inflation and elevated fuel prices. Real median household income hit a record $87,460 in 2025 while the official poverty rate fell to a historic low of 10.2%. Disposable and real incomes sit at or near all-time highs, and real spending has climbed steadily since early 2025, including a 0.6% August jump. Q2 GDP was just revised up to 2.2%. Unemployment is holding at a tight 4.1%, with jobless claims near 57-year lows and layoffs down sharply. Private investment is surging, and Atlanta Fed recently estimated Q3 GDP at 3.7%.
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PocketEcon retweeted
As of January 1, 2026, the United States had 130 operable petroleum refineries, The last major U.S. oil refinery with significant downstream processing capacity is Marathon’s Garyville, Louisiana plant, which came online in 1977, at an original 200,000 barrels per calendar day. It has since been expanded to about 617,000 b/cd.,but only Smaller, simpler facilities have opened more recently. The newest currently operating refinery is the Texas International Terminals plant in Galveston, Texas (45,000 b/cd), which started in February 2022. Environmental permitting, local opposition, high Recent closures—especially on the West Coast—have reduced regional supply. California in particular has lost significant capacity and now relies more on imports, which adds cost and vulnerability. EIA data show that from 1990 through early 2026, permanently shut refineries removed more than 3.5 million barrels per day of atmospheric distillation capacity. Many of the closed plants were smaller, older facilities that became uneconomic; a few larger ones have also shut or converted to renewable diesel or terminals, particularly since 2020. Capacity additions at surviving plants have offset only part of the loss.
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🚨Catherine Herridge just tore through the Trump Admin’s declassified election files and exposed pure CIA treason — they deliberately massaged President Trump’s daily briefings to hide China’s massive 2020 influence operation. Officials scrubbed every link to the election so Trump wouldn’t see the full scope. This was a coordinated multi-domain assault: trade, diplomacy, social media, open-source intel — all aimed at swaying American voters against him. Whistleblowers who raised the alarm were silenced. Handwritten notes in their own reports demanded nothing helpful to Trump make it through. Clear political bias. Clear cover-up. A former CIA officer confirmed they refused to even recognize Trump as President — his picture was banned from the wall. Literally working against the Commander in Chief to protect China and the Democrats. Follow me for more intel drops!
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With US diesel stockpiles sitting 13% below the five-year seasonal average, policymakers are increasingly floating emergency measures to restrict fuel exports. Following retail diesel prices hitting an all-time record high of $6.31 per gallon this week, Washington is split between executing an outright temporary freeze or deploying targeted quotas to limit exports by about 30% to their historical average of 1.1 to 1.4 mbpd. Proponents argue that restricting exports to normal historical levels would retain enough domestic supply to instantly lower fuel costs for American truckers and farmers. This momentum has led to new legislative proposals, which argue US consumers shouldn't pay premium prices to backfill broken international supply lines while local reserves drain. However, opponents and some officials like Interior Secretary Doug Burgum warn that even partial export restrictions could backfire. They point out that capping exports would cause a sudden domestic backup at Gulf Coast refineries, leading fuel makers to cut overall crude processing, which would trigger shortages and spike prices for other refined products like gasoline. Furthermore, critics warn that dialing back exports would violate trade alliances and choke off critical fuel supplies to European allies during a global energy crisis.
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Across the US, diesel prices are surging despite domestic oil refineries operating at near-maximum capacity, running at 98.0% for the week ending August 28 and ticking down slightly to a still-elevated 96.8% in the latest September 16, 2026 data release. Despite recent finger pointing, this is not a domestic manufacturing failure, but rather a global bidding war. Because Ukrainian strikes knocked out major Russian refineries and the Persian Gulf conflict damaged mega-refineries in Saudi Arabia and Kuwait, approximately 10% of global refining capacity is offline. With Russia banning its own exports, international buyers are aggressively siphoning fuel from the US Gulf Coast. Daily US diesel exports have surged 30% above the normal historical average of 1.1 to 1.4 mbpd, maintaining a current baseline of 1.6 to 1.9 mbpd. This export drain is keeping national stockpiles depressed. In the latest September 16 data release, national stockpiles saw a minor short-term build of 1.6 million barrels to reach 107.9 million barrels. While that immediate trend is rising slightly week-over-week, the macro picture remains tight. National inventories are still 13% below the five-year seasonal average, which leaves truckers, farmers, and businesses competing against the rest of the world for American-made fuel.
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While repairs continue on the East-West Pipeline, regional supply logistics have shifted to drawing down existing storage networks to prevent a complete export halt. When the disruption began, Yanbu's operational crude inventories sat at approximately 15 million barrels. Those terminal stocks have been aggressively drawn down to feed local refineries and immediate export obligations, leaving onshore supplies critically thin. To bridge the gap, Saudi Arabia is tapping its strategic inventories stored outside the immediate conflict zone inside Egypt’s SUMED pipeline network. Before the strike, these reserves totaled roughly 18 million barrels at Ain Sukhna on the Red Sea and 15 million barrels at Sidi Kerir on the Mediterranean. Before the disruption, European refineries were importing 0.6 to 0.8 mbpd of Saudi oil, while total Saudi volumes moving through Egypt's Sidi Kerir terminal on the Mediterranean averaged 1.95 mbpd. Without any line replenishment, the combined 33 million barrels of strategic reserves held in the SUMED network would last less than three weeks under normal export rates. Because partial pipeline volume will not return for a few days and full pipeline volume will not return for five to six weeks, these SUMED inventories are being rationed. To ensure storage does not completely empty out before the pipeline is fixed, Saudi Aramco has begun cutting and cancelling some immediate European delivery contracts. The strategy is to slow down the draw pace, keeping a baseline flow moving to buyers rather than letting the storage network hit zero.
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Because Saudi Arabia's East-West Pipeline itself is buried underground, the Saudis are concentrating their defenses on protecting the 13 above-ground facilities from future drone and missile attacks to prevent a repeat of the successful drone attack of September 11. ANTI-DRONE NETTING: High-tensile steel mesh fences and overhead netting are being installed directly around the pumping stations. These barriers catch and detonate drones before they can reach the actual machinery and piping. GPS JAMMING: Electronic warfare units are being stationed at each node. These systems emit interference to cut the GPS signals and remote-control links used by drones, which can cause them to miss their targets. POINT-DEFENSE & INTERCEPTORS: Rapid-fire automated guns and short-range missile units are placed on-site alongside newly acquired Ukrainian counter-drone systems. This layer tracks, intercepts, and shoots down incoming threats that pass through the nets and jamming fields.
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Repair operations on Saudi Arabia’s 750-mile East-West Pipeline are underway following the drone strikes on September 11 that damaged three pumping stations. Damage varies by location: two stations sustained moderate structural and piping damage, while the third suffered severe mechanical and electrical degradation from direct impacts and subsequent fires. Before the strikes, the system operated at a full flow of 4 to 5 mbpd. To accelerate restoration, engineering crews are initially bypassing the damaged machinery rather than rebuilding it in place. Crews are cutting into the mainline to install prefabricated modular bypass loops, rerouting the crude oil flow around the compromised nodes. These workarounds are projected to restore a partial flow of 1 to 2 mbpd within days, with a complete flow of 4 to 5 mbpd restored within five to six weeks.
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PocketEcon retweeted
Politicians spent like borrowing was free, and now taxpayers are getting the bill. Government borrowing costs are rising across the developed world. Maybe bond markets are telling politicians to stop spending and borrowing money they don’t have.
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Saudi Arabia's East-West Pipeline is 750-miles long and built to transport up to 7 million barrels of oil per day, acting as the kingdom's primary mechanism for bypassing the Strait of Hormuz. Nearly the entire length of the pipeline is buried beneath the desert, making the pipeline itself relatively immune to direct aerial strikes. The system's physical vulnerability is concentrated at 13 above-ground nodes: 11 critical pumping stations and 2 pressure reduction stations. It appears that Saudi security forces were caught unprepared because their advanced air defense systems were concentrated on threats from the east and south, leaving these interior pipeline stations exposed to a northern attack from Iraq. To protect this critical infrastructure going forward, Saudi Arabia is actively hardening these 13 facilities—deploying physical mesh barriers, electronic jamming, and automated defenses to ensure another successful strike becomes much more difficult.
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Media and public ship-tracking maps show almost no tankers moving through the Strait of Hormuz. Those maps are wrong. To dodge active drone and missile attacks, nearly two-thirds of these tankers are running "dark" with their tracking transponders turned completely off. To find the real volume, analysts use radar satellites to look at the Gulf of Oman, safely outside the choke points. That is where a massive Ship-to-Ship conveyor belt is running 24/7. A highly efficient armada of double-hulled supertankers and small shuttle ships has developed to haul the oil out of the Strait under naval escort. They tie up side-by-side with international buyers in the open water to pump the crude across. Once the handoff is complete, the buyer sails away to global markets, and the shuttle fleet loops right back inside the Gulf to reload. It has become a highly disciplined tag-team network. Because it happens quietly in the open ocean without dramatic smoke, the media ignores it.
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Keep in mind that there is no more private insurance in any real sense. Insurers do not design their own products. Washington does. The ACA dictates what individual and small group plans must cover, sets the medical loss ratio at 80 and 85 percent so a company's margin is capped by statute, and forbids pricing by health status. Medicare's fee schedule is the benchmark private rates get negotiated against, so a government price list effectively anchors the whole market. And buying across state lines is legal on paper and impossible in practice, since any plan sold into your state must still satisfy your state's rules and build a local network. No insurer has ever bothered. His own chart makes the point better than his post does. Medicare 10 percent, Medicaid 12, employer plans 21, marketplace 20. The two government programs report fewer coverage problems while paying providers less, and the private numbers come from plans whose benefits, margins, and pricing were designed by the same government now offered as the cure. The comparison is not insurers against Medicare. It is a rigged market against a monopoly, and we already know the third option works, because we had it before 1965, when health care cost a third of what it costs now as a share of the economy.
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PocketEcon retweeted
Murray Rothbard published Power and Market in 1970, tracing every form of government intervention to its logical conclusion, without stopping at polite halfway points. Rothbard sorted intervention into three categories. Autistic intervention compels or prohibits individual action without directly touching exchange (mandatory seat belts, drug prohibitions). Binary intervention involves the state extracting resources from you through taxation. Triangular intervention distorts voluntary exchange between two parties by forcing a third set of terms, tariffs and price controls being the textbook cases. The crucial insight is that none of these interventions stay contained. A price ceiling on bread creates shortages. The government responds with rationing. Rationing requires enforcement. Enforcement requires bureaucracy funded by more taxation. Each intervention generates the visible problem that justifies the next one, and politicians credit themselves for solving crises their predecessors manufactured. Rothbard demolished the myth of the "mixed economy" as a stable resting point. Intervention either expands toward full central planning or gets repealed. The middle ground is inherently unstable because each distortion creates constituencies demanding protection and further distortion. The 56 years since publication have delivered relentless confirmation. Rent control in New York City produced housing deterioration and waiting lists measured in decades. The 1973 U.S. oil price controls produced gas lines stretching around city blocks within months. Each time, the government blamed speculators, hoarders, greed, anyone except the price signal it had just destroyed. Rothbard's framework gives you the tool to predict these outcomes before they happen. Intervention rewards the politically connected, punishes producers, and transfers wealth from you to whoever holds legislative favor.
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PocketEcon retweeted
Better go see the Great Barrier Reef before it disappears! Actually, you have plenty of time, because coral cover has actually INCREASED in the last 20 years. More surprising facts here:
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PocketEcon retweeted
Absolutely insane American went into an imaging center at Stanford to get an MRI She just received the bill, it’s $34,000…. For one MRI… The imagining center bills as if it’s a hospital, even though it doesn’t say hospital on the sign. Just getting an MRI here you are also billed for “hospital fees” I looked into this and it’s definitely separate from the hospital - Stanford Medicine Imaging Center at 451 Sherman Ave, Palo Alto is a Stanford Health Care site - Stanford’s own pages brand it as an “imaging center” offering MRI and CT - The main hospital at 300 Pasteur Drive But because it’s part of the “hospital system” they are billing as if they’re a hospital and adding on all these fees You ready for this, Under current federal rules, off-campus HOPDs more than 250 yards from the main hospital can still bill as hospital outpatient What a SCAM We need healthcare reform and we need it right now
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PocketEcon retweeted
Future generations (if we get there) will regard today's public education system as one of our era's great institutional atrocities. We take naturally curious children, consume thousands of hours of their formative lives, and too often leave them intellectually worse off than if they'd been given the tools and freedom to follow their curiosity and educate themselves. Children begin by asking why. A terrible education system trains them to stop, rewarding memorization over understanding, conformity over independent judgment, and authority over reason. Worse, education has increasingly become a vehicle for ideological activism. Too many of yesterday's activists became today's teachers and professors, importing socialist assumptions and teaching students to condemn America rather than critically understand it. The irony is grotesque: institutions find endless time for ideological instruction while advancing students who struggle with basic math, reading, logic, and problem-solving. The ultimate indictment isn't merely that the system failed to educate. It's that it interfered with the education curiosity might have produced, and replaced learning how to think with being told what to think.
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PocketEcon retweeted
The First World War did not erupt. Governments built it, financed it, and kept it running long past the point where any rational army would have quit the field. Franz Ferdinand's assassination in Sarajevo on June 28, 1914, gave chancelleries and foreign ministries the pretext they needed. The war itself required something more durable than a pretext. It required central banks. Every major belligerent suspended the gold standard within weeks of the opening shots. Britain suspended convertibility in August 1914. Germany, France, and Austria-Hungary followed. This mattered enormously. Under a true gold standard, you cannot fund a four-year industrial slaughter. Governments run out of money and populations refuse further sacrifice. The war ends. Instead, central banks printed currency to buy government bonds, transferring the cost of the war to ordinary wage earners through inflation, a tax nobody voted for and most never identified as a tax. Ludwig von Mises watched this from Vienna and identified the mechanism precisely: inflation allows states to conscript private purchasing power without explicit confiscation. Every loaf of bread that cost more in 1917 than in 1913 represented a transfer from the buyer to the war machine. The death toll reached approximately 20 million people. The fiscal cost exceeded $200 billion in 1914 dollars. Neither number was achievable under honest money. Politicians and generals sustained the catastrophe because central banking made it financially possible to keep going. Remove the printing press and the trenches empty themselves inside three months. Sound money is a hard constraint on state violence. States hate hard constraints.
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PocketEcon retweeted
They printed $9 trillion, gave you $1400 in stimmy checks, sent the rest to their NGOs and campaign donors and left you with the inflation.

ALT Sad A Christmas Story GIF by filmeditor

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