The federal debt crossed $40 trillion last week. The NYT, NPR, PBS and CNBC all ran the same chart.
Here is the one none of them ran.
Treasury's own balance sheet carries another $15.5 trillion in federal employee and veteran benefits already earned but not yet paid. Note 13,
Bitcoin is at $80,000, and nobody can tell you whether that's cheap or expensive. Cory Klippsten argues that's not a flaw: Bitcoin has no valuation anchor because its value is monetary, and the market is still discovering what that's worth.
Bitcoin is not a new asset class. It's a new technological revolution, the sixth since the 1770s.
AI isn't the next one. It's the tail end of the fifth.
Cory Klippsten's test isn't price. It's who holds the keys.
