Jobs

AI Is a Tool, Marian

Why the Rush for Universal High Income Misses the Real Story of Creative Destruction Elon Musk posted a characteristically bold provocation on X about AI and Universal Income: Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI. AI/robotics will produce goods & services far in excess of the increase in the money supply, so there will not be inflation.— Elon Musk (@elonmusk) April 17, 2026 Hours later, Andrew Yang replied with his own crisp declaration: It’s clear that AI will wind up funding universal income. Let’s make that happen…

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Building AI’s River Rouge

Factories, Financing, and Freeing Energy The column started with a single X post from @HedgieMarkets laying bare the financial engineering behind the AI boom: massive data centers funded through special purpose vehicles, off-balance-sheet debt, and leverage that would make a subprime lender blush. Meta's $27 billion Hyperion deal with Blue Owl, Oracle's $38 billion Vantage play tied to OpenAI's Stargate, xAI's $20 billion raise looping in Nvidia GPUs-these aren't just big numbers. They're bets on explosive revenues that have to show up in the next 5 to 15 years, or the whole structure risks looking like a house of cards when…

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The BLS Affordability Boost

Unpacking the "Unexpected" January Jobs Report If you've been following the economic tea leaves like I have for over 30 years in this game, you know the drill: Wall Street "experts" cluster their forecasts like sheep, the media slaps "unexpectedly" on anything that doesn't fit their narrative, and real-world metrics get buried under a pile of revisions and spin. Today's January 2026 BLS jobs report? It's a classic case. Clocking in at +130,000 nonfarm payrolls with unemployment ticking down to 4.3%, this thing smashed the lowball consensus and kicked off the year with a bang for the Trump administration and Republicans.…

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The Squeeze on American Workers

Why Americans Lose Jobs to Foreign Workers Let’s dispense with the illusions from the start. The immigration debate is drowning in deliberately soft, misleading language-“undocumented immigrants,” “common-sense solutions,” “path to citizenship,” “comprehensive reform”-all crafted to mask what is really happening. Peel those euphemisms away and the raw truth stands exposed: we are dealing with large-scale amnesty disguised as humanitarianism and unchecked mass importation of foreign labor disguised as economic necessity. The combined effect is to convert the American labor market into a worldwide commodity pool where U.S. citizens are routinely outbid, displaced, and marginalized in the very economy their forebears built.…

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