logo
AI requires an explosion in power, both parties are losing ground and other commentary

AI requires an explosion in power, both parties are losing ground and other commentary

New York Post17 hours ago

Energy beat: AI Requires an Explosion in Power
Every tech report acknowledges 'that deploying AI at scale will lead to massive increases in electricity demand,' since 'the digital economy runs on hardware, and hardware consumes a lot of energy,' notes City Journal's Mark P. Mills. 'A single large AI data center can use as much electricity as 2 million households.' Offsetting the costs of this soaring demand will 'exponential' gains in 'energy-efficiency.' Then again, AI will boost productivity, adding perhaps 'a cumulative $10 trillion above projections to U.S. GDP over the coming decade,' and so sprak further 'spur growth in energy demand.' Hence the tech community's demand for an 'all options on the table' energy plan, ending 'the past decade's monomaniacal obsession with wind and solar as the only options.'
Liberal: Both Parties Are Losing Ground
Most political commentary is missing 'the collapse of trust in the two traditional parties, increasing independence among voters, and rising allegiance to an undefined 'neither' party,' warns the Liberal Patriot's John Halpin. Per ample polling data, 'lots of Americans do not like the positions and brands of the only two parties' they can 'choose from in most elections,' nor do they fit any 'alternative third party at the moment.' 'Given the mounting number of economic and social concerns among Americans, a failed two-party system cannot endure indefinitely.' Today's parties must each 'bring in more voters with more diverse views' with an 'agenda that delivers for people,' or 'dwindle in membership' and 'retreat into ideological purity' while 'other Americans search for alternatives.'
From the right: Dems' Identity-Politics Blinders
'Liberals are in denial,' contends The Wall Street Journal's Jason L. Riley, but even The New York Times admits 'Republicans are overwhelmingly making gains in working-class counties,' while Democrats are losing 'Black, white and Latino' working-class voters alike. Blame the left's 'identity-based appeals,' argues Riley. 'Minority voters are courted as minorities rather than as Americans who have the same priorities — good schools, safe neighborhoods, gainful employment — as everyone else.' Dems pretend 'Hispanics don't care about illegal immigration' and that 'blacks think policing is a bigger problem than crime,' though polls suggest the opposite. 'This is what happens when a small subset of progressives set the policy agenda for tens of millions of people.' And as long as Democrats refuse to change, 'Republicans stand to benefit.'
Libertarian: JD's Free-Market Double Standard
Veep JD Vance's 'position on bitcoin is' seemingly far out of step 'with his stated views — and those of the Trump administration, more generally,' on market forces, snarks Reason's Eric Boehm. In a Newsmax interview, Vance explained the administration's hands-off approach to cryptocurrency: 'What you shouldn't have is a dictatorial government that tells certain industries they're not allowed to do what they need to do.' Says Boehm: 'That's exactly right,' but 'from trade to immigration (which is an economic issue, yes) to minutiae' like 'how many dolls American kids get to play with, the Trump administration is demanding more dictatorial government that tells industries exactly what to do.' Sorry: 'The benefits of the free market should not be reserved exclusively for people who invent and use cryptocurrency.'
Media watch: They Just Don't Learn
'If you thought that the media would have a come-to-Jesus moment' after their 'debacle' covering the Biden presidency, 'think again,' scoffs Joe Concha at the Washington Examiner. A recent Media Research Center study shows President Trump has gotten just 8% positive coverage and 92% negative in his first four months back in office on ABC, NBC and CBS, despite his great results on the border, inflation, unemployment and other issues. The 'good news'? Trump won last November despite negative coverage: 'Legacy media influence is a fraction of what it once was.' So 'for the next 42 months of Trump's presidency, expect more of the same': 'Ratings will continue to fall, as will readership.' And for the old media, 'so will trust.'
— Compiled by The Post Editorial Board

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

If You Invested Every Social Security Check for 10 Years, How Rich Would You Be?
If You Invested Every Social Security Check for 10 Years, How Rich Would You Be?

Yahoo

time18 minutes ago

  • Yahoo

If You Invested Every Social Security Check for 10 Years, How Rich Would You Be?

One common criticism of Social Security is that Americans would be much better off financially if the money they paid into the retirement program through payroll taxes was instead invested into private investment accounts. That same argument can be applied to Social Security checks — seniors would have much more wealth if they invested their checks as soon as they got them. Be Aware: For You: But is this a reasonable request for most people, especially those on a fixed income? To help find the answer here is a closer look at how much you could earn by investing your Social Security checks over a decade. For those seniors who can afford to invest all of their Social Security checks, the potential payoff is considerable. The following table shows how much profit you would have made if you invested every Social Security check over the past 10 years into the S&P 500, from 2015 through the beginning of 2025. The data includes the average Social Security check by year as previously reported by GOBankingRates. It also includes the average annual return of the S&P 500 from 2015 to 2025, as cited by Macrotrends (other sources might reflect different returns). Up Next: A couple things to keep in mind: The figures below are based only on yearly averages, which means they don't include month-to-month fluctuations that happen with the stock market. They also don't include other types of investments — such as crypto or real estate — that would have produced very different returns. Year Avg. monthly SS check Total SS payments for year S&P 500 return Profit/loss for year 2015 $1,341.77 $16,101.24 -0.73% -$117.54 2016 $1,360.13 $16,321.56 +9.54% +1,557.08 2017 $1,404.15 $16,849.80 +19.42% +3,272.23 2018 $1,461.31 $17,535.72 -6.24% -$1,094.23 2019 $1,455.22 $17,462.64 +28.88% +5,043.21 2020 $1,489.30 $17,871.60 +16.26% +2,905.92 2021 $1,517.98 $18,215.76 +26.89% +4,898.22 2022 $1,615.96 $19,391.52 -19.44% -3,769.71 2023 $1,696.35 $20,356.20 +24.23% +4,932.31 2024 $1,909.01 $22,908.12 +23.31% +5,339.88 2025 $1,976 $23,712 +1.96% +$464.76 Total profit/loss +$23,432.33 According to the table above, if you invested all of your monthly Social Security checks in the S&P 500 over the past decade, your nest egg would have grown by over $20,000. That kind of return should bring cheer to financial gurus, like Dave Ramsey, who recommends applying for Social Security retirement benefits as early as possible. For example, you could start collecting benefits at age 62 instead of the full retirement age of 66 or 67 and then immediately invest every monthly payment. There's just one problem with that reasoning. A large percentage of seniors don't have the financial ability to put their Social Security checks into stocks, bonds, mutual funds, exchange-traded funds, real estate, crypto or other investments. They need the money to pay the bills. For about half of U.S. seniors, Social Security provides at least 50% of their overall retirement income, according to research from the Center on Budget and Policy Priorities. For about one in four seniors, Social Security provides at least 90% of income. These folks have a hard enough time making ends meet, let alone tossing their Social Security checks into various investments that might or might not pay off. Nonetheless, for retirees who can afford to invest their benefit checks, there's a pretty good chance those investments will pay off and boost your retirement savings over the long haul. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses 10 Genius Things Warren Buffett Says To Do With Your Money This article originally appeared on If You Invested Every Social Security Check for 10 Years, How Rich Would You Be? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Robert Kiyosaki Warns Hyperinflation Will ‘Wipe Out' Millions
Robert Kiyosaki Warns Hyperinflation Will ‘Wipe Out' Millions

Yahoo

time22 minutes ago

  • Yahoo

Robert Kiyosaki Warns Hyperinflation Will ‘Wipe Out' Millions

Personal finance author Robert Kiyosaki recently made a bold prediction on X about the state of the American economy. The summary of the prediction is that hyperinflation will be financially devastating to millions of Americans. Another GOBankingRates article discusses hyperinflation, stating that the situation occurs when there's a monthly inflation rate of 50% or more. However, due to the role of the Fed, the American economy has never faced such a situation, even when inflation reached as high as 23% in 1920. Trending Now: For You: Below, we examine Kiyosaki's serious claims and determine their accuracy based on expert insights. 'Hyperinflation is a state of extremely high inflation, typically reaching high double digits or triple digits,' said Marko Bjegovic, macroeconomist and founder of Arkomina Research. Kiyosaki believes everything in the economy will become more expensive, from interest rates for borrowing money to basic necessities. Kiyosaki's reasoning is likely that, with the Fed printing money, in his opinion, this could devalue the American currency and lead to higher inflation. It's safe to say that Kiyosaki believes that inflation will become so exorbitant that the average American consumer will be unable to carry their debt moving forward and will have to declare bankruptcy. Read Next: According to MoneyWise, Kiyosaki isn't a stranger to making bold claims about a possible economic collapse. We reviewed some of these claims in the statement to try to verify their accuracy. Bjegovic said there's nothing to suggest that the U.S. is currently on a path to hyperinflation. 'In that sense, the U.S. has never had hyperinflation since the Fed's inception in 1913,' he added. 'Hyperinflation has been commonly associated with countries experiencing extreme political or economic collapse, such as Weimar Germany (1920s), Zimbabwe (2000s), Venezuela (2010s), and Argentina (2020s).' Since the situation has never occurred in history, it's challenging to expect it to happen this time around. On a similar note, it's worth noting that the current Consumer Price Index (CPI) stood at 2.3% in April, the lowest level since February 2021. While inflation peaked — as reported by CNBC — at 9.1% in June 2022, it never approached the 50% figure required for a hyperinflationary state. With inflation cooling down, it doesn't appear that it will reach double digits anytime soon. Some of Kiyosaki's predictions for future asset prices are extremely bold. For context, the highest price of gold ever peaked at $3,500.05 per ounce on April 22, 2025, according to Investing News Network. Blake Mclaughlin, gold expert and vice president of exploration at Axcap Ventures, said gold's recent surge indicates underlying instability in the economy and that based on current conditions, its upward trend may continue. 'Having exposure to commodities like precious metals is a reasonable hedge for inflation. Generally, physical assets, where supplies cannot be readily or easily manipulated, provide a safe and honest place to invest,' he added. However, no evidence would suggest that gold can reach the value mentioned by Kiyosaki According to Yahoo Finance, iBitcoin hasn't passed $112,000 as of May 30 and silver is hovering around $33. These numbers are far from the substantial numbers shared by Kiyosaki. For bitcoin to go from $110,000 to one million is an extreme stretch and there's no evidence pointing towards this possibility. Upon further investigation, there aren't any other credible experts declaring that bitcoin can go as high as one million. Research shared on Business Insider showed there's only one crypto options trade that has bitcoin hitting $300,000 by the end of June and there's only one platform predicting that the digital asset will hit $200,000 by the end of the year. 'The auction Mr. Kiyosaki mentioned was held by the Treasury and not by the Fed,' Bjegovic said. It's essential to emphasize that the Fed didn't conduct this auction, as that's a crucial fact stated in the announcement. Reuters pointed out that the auction was poorly received, which led to a stock sell-off, with investors concerned about the national debt. However, the article also shared that the 20-year bonds usually see less demand than other maturities and that it wasn't a disaster. While the demand for the $16 billion sale of 20-year bonds was weak, it's also unfair to say that nobody showed up to the auction on May 21. Bjegovic said it went better than feared due to the circumstances at the time (Moody's downgrade, passage of the 'Big Beautiful Bill Act' and wider fiscal deficits). 'Treasury auctions are functioning well (as evidenced by other auctions that followed, like the two-year note this week) and inflation remains relatively low. The contents of Mr. Kiyosaki's post on X have grossly exaggerated both the current situation and what is likely to happen in the future,' Bjegovic explained. While it's important to be cautious about your investing approach, you also don't want to get caught up in the fear-mongering that can be evident on social media. As always, we recommend that you speak with a qualified financial professional before making any important decisions about your funds. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard These Cars May Seem Expensive, but They Rarely Need Repairs Warren Buffett: 10 Things Poor People Waste Money On This article originally appeared on Robert Kiyosaki Warns Hyperinflation Will 'Wipe Out' Millions Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati

Andrew Yang Is Ready to Team Up With Elon Musk
Andrew Yang Is Ready to Team Up With Elon Musk

Politico

time31 minutes ago

  • Politico

Andrew Yang Is Ready to Team Up With Elon Musk

Andrew Yang has reached out to Elon Musk with a sales pitch: Let's build a third party together. The former 2020 Democratic presidential candidate has been pushing his independent Forward Party for several years — and he sprang into action after Musk's feud with President Donald Trump erupted and Musk polled X users on whether they wanted a new political party. In an interview with POLITICO Magazine, Yang said he hasn't heard back from Musk yet, but he's optimistic. Yang also acknowledged he doesn't agree with Musk about everything, but said that his Forward Party should appeal to those across the political spectrum. And don't forget that Musk had endorsed Yang's previous presidential bid. Enormous hurdles exist to breaking through in America's two-party system. But Yang argued the American public is ready for a change, particularly if the effort gets help from the richest man in the world — who also happens to control a massive social media platform. 'Elon has built world-class companies from nothing more than an idea multiple times, and in this instance, you have the vast majority of Americans who are hungry for a new approach,' Yang said. 'I'm happy to spell it out for Elon or anyone else who wants to head down this road: A third party can succeed very quickly.' This conversation has been edited for length and clarity. I saw that you retweeted a post Elon Musk made about needing 'to create a new political party in America that actually represents the 80 percent in the middle.' Have you reached out directly to Musk about creating a new party or working with your Forward Party? I have reached out, and some mutual friends are also looking to connect us. Have you heard back yet? Not yet, but I assume he's been very busy. We have been of the opinion that America needed a new political party for a number of years, and so waiting another 24 hours is nothing. Is he someone you'd want to work with to build a third party? I want to work with people that recognize that America's political system has gone from dysfunctional to polarizing to even worse. And at this point, the fastest growing political movement in the United States is independents. They feel like neither party represents them, and the two-party system is not delivering what they want to see. And the two of you have seen dysfunction on both sides — you on the Democratic side and Musk on the Republican. If you think about what animates Elon, he wants to get us to Mars, and I feel that he's been driven these last several years by an opposition to 'wokeness,' by what he sees as excessive bureaucracy, and by waste and overspending in the federal government. And in our two-party system, he thought that Trump was the better choice. If you look at Musk's politics over the last number of years, he waited in line to meet Barack Obama, he endorsed me in a Democratic cycle, and even earlier in this cycle — 2024 — he was looking for an alternative to Trump. There are a number of things that I think Elon shares in common with a lot of other folks I talk to who want to see some kind of middle ground or balance. The problem is: In our two-party system, you get whipsawed either one direction or the other. I will say that the deficit in spending, neither party has done a good job of addressing it, because as soon as they're in power, they don't want to make the tough choices. You're coming politically from the center-left; Elon Musk is coming from arguably the hard right. How would you overcome your political differences? If you look at the Forward Party makeup, my co-chairs include Christine Todd Whitman, who was governor of New Jersey and EPA secretary under George W. Bush, and Kerry Healey, who was lieutenant governor of Massachusetts under Mitt Romney. And I would say that the three of us don't line up on every issue, but we're in lockstep on the fact that America's current political system is not delivering real solutions or results, and both parties are captive to perverse incentives. Anyone who wants to modernize and restore the American political system, so that it actually listens to people and communities, we can agree on that. And that is the mission. The fact is that the two parties do a great job of falsely segmenting us along some ideological spectrum, saying, 'Oh, you want this? You're over there. You want this? You're over there,' when in reality the current system is not going to deliver what either of those sides want. Unless what they want is strife and conflict and mistrust. But is that enough to maintain a third party or does there need to be a political or policy goal that propels the party forward? Are there any specific policies that you feel like you agree on with Musk? The three pillars that we're operating on are dignity, dynamism and democracy, which is something that most Americans can get behind. But in practical terms, if you can imagine three or four U.S. senators who are from a new party, they could work with either side to get things done and would become the most powerful legislators in the country, because their votes might be necessary to pass any legislation. And I dare say that you would have a much more interesting and balanced set of solutions as a result. What about his work to dismantle USAID and cause havoc in much of the federal government? Did you agree with that? One thing I found interesting was that a number of moderate Democrats signaled over the last 24 hours that they would be open to receiving Elon as an ally as a result of his feud with Donald Trump, despite him being essentially one of their primary boogeyman over the last number of weeks. I don't have to agree with everyone's past decisions in order to agree that the primary mission has to be getting our political system back in a place where it's actually responsive to both the views and the needs of the American people, and right now, we don't have that. Anyone who's kept up with me over the last number of years knows that I've been driven by the fact that AI is going to transform our economy in ways that push more and more Americans to the side. That is playing out before our eyes right now in real time, with [Anthropic CEO] Dario Amodei coming out saying that entry-level white collar work is going to be automated, and that we need to think bigger about solutions. I think that Dario is right. I've been making the same case since 2019, 2018. I'd ask anyone who is reading this right now, 'What is the current plan when it comes to the economic changes that are going to be brought by AI?' The answer is, 'Not much.' Because our current political class does not have to address that issue, or any of a panoply of other issues in order to keep power. They have done an expert job of gerrymandering the country into red zones and blue zones, such that all of us are looking up, wondering, 'What the heck is going on?' Speaking of AI, do you think Musk could be a good partner on that? If you look back at the [2020] cycle, he was openly saying that AI was going to have a massive impact, and he did endorse me while I was running as a Democrat on some of those solutions. Musk has become very polarizing to much of the country. Who are the people you think you'd attract if you built a third party with Musk? Again, people have come to the Forward Party from all different walks of life and different ideologies. Elon has a very, very significant following and megaphone, and you can see that with the number of people that have voted on his post about starting a third party. It's about 5.3 million votes, with 81 percent saying yes, it is time to create a new political party, and Forward has gotten thousands of new followers just in the last 24 hours, because we are the preeminent effort to modernize and rationalize America's broken political system. I'm thrilled that others are waking up. Do you think Elon Musk is actually serious about creating a new party? What do you think he wants out of all this? I haven't spoken to Elon recently, but I think there are several things that are animating him, and very, very high on his list is America's financial solvency. I think he's deeply frustrated by the fact that he wanted to reduce waste in government, and then the Republicans turn around and propose a bill that would increase the deficit by two and a half trillion dollars. If your goal is to have the government on a positive fiscal path, that's not the way to do it. I think Elon's frustration is shared by lots of other Americans who realize that when push comes to shove, politicians don't want to make the tough choices that would be necessary to put us on a sustainable path — certainly politicians from the current parties. I saw [JP Morgan CEO and Chair] Jamie Dimon speak the other day, and he seems to share similar concerns and had a number of very sensible proposals. But you realize that it would take a figure, in my view, who's not of the two major parties to make some of these solutions happen. Is that person Elon Musk? I think there are any number of people that if they were to be elected as an independent or a Forward Party member, they would then be able to propose the common-sense solutions that most Americans say we need. One figure that I'm very excited about that recently declared that he was running for governor of Michigan as an independent is [Detroit Mayor] Mike Duggan, who has turned around Detroit, and before that, turned around a hospital chain. Someone like Mayor Duggan would make very sensible choices for the state of Michigan, free of party constraints. You can imagine someone doing that at the national level. Millions of Americans would love to see that happen. I have a feeling that the right independent ticket could galvanize a tremendous amount of energy, because more and more Americans sense that the status quo isn't working and that neither party has our interests at heart or wants to solve the tougher problems. Elon Musk is clearly still very new to politics. Why do you think he knows what it would take to build a third party that could actually overcome all the hurdles that exist in our 2-party system? Elon has built world-class companies from nothing more than an idea multiple times, and in this instance, you have the vast majority of Americans who are hungry for a new approach, as evidenced by the overwhelming response to Elon's poll and to every other poll that shows that not only are half of Americans saying they're independent, but more than two thirds are saying that the current political system is not working. I'm happy to spell it out for Elon or anyone else who wants to head down this road: A third party can succeed very quickly. Just to throw some numbers out to you, there are over 500,000 locally elected officials around the country, and up to 70 percent of those races are not meaningfully contested. Up to 10 percent of those positions go unfilled, and thousands of those positions are technically non-partisan, which includes many, many mayors and county executives. So if the Forward Party were to simply start recruiting and contesting at scale, which you could do with a certain level of resources, you could have thousands, even tens of thousands, of locally elected officials within one cycle. You could have several U.S. senators and a very serious presidential ticket within the next several years. At some point you have to wonder, 'OK, when do the American people raise their hands and say, 'I get it. This system is not meant to deliver good things. It's meant to deliver me thinking that my neighbor is bad and out to get me'?' Eventually, enough of us have to get together and say, let's create a positive, independent political movement that can drive us towards solutions, and also is able to say, 'You and I don't agree on everything, but you're a good person. I believe in your good will.' I don't think that goodness or character are somehow confined to any one party or another. I don't think that people on the opposite side are my enemies, and let's create a system that actually will make us feel good about our future. Even if every last measure does not line up with me, I know that the people who are adopting it actually are making earnest, sincere efforts to move us forward. Do you think Musk is a good person? Or does the desire to recruit people who also want to create a third party trump any character assessments? I'm someone who tends to judge people by their actions more than anything else. And Elon Musk has done more for sustainability on this planet than virtually any other human, and that's something that I think is incredibly estimable and admirable. I've been in public life now for a number of years, and I'm sure I've said or done things that people can brandish and say, 'Oh, I disagree with this person.' I live my life trying to use actions as the guiding principle. I try to hold other people to a standard where actions and impacts are much more important than statements or misstatements. If Musk were serious about building a third party, what do you think the path would look like with the help of his money and social media platform? It would be very straightforward. I've spent several years looking at it. You can start with candidates like Mike Duggan, who are running as independents in very significant races, in this case, for the governorship of Michigan. You could energize tens of thousands of local candidates and wind up with thousands of elected officials very, very quickly. You could create a fulcrum in the U.S. Senate. I call it the Legislator Liberation Fund, where you could offer to buy out senators or members of Congress from their contract with their current party by funding their next election, and they could vote their conscience. There are a lot of legislators who are on the verge of retirement who might take that and say, 'Okay, I don't have to grovel before the donors for the last number of years. I can actually try and fix American politics.' There are multiple members of Congress I've spoken to whose ears are very, very open to that kind of offer. In the scheme of things, none of the things I'm talking about are that expensive for someone with a certain level of resources. I'll give you the opportunity to make a direct sales pitch to Musk: What would you say to him in this moment to get him on board and help fund the Forward Party or the creation of a new party? Elon, the political class will never get serious about putting America on a path to sustainability, and you've seen it up close. You know that if it's going to happen, it's going to be from some new force in American politics. Help us build it.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store