André Panné 👕 🇩🇪 🇺🇦 🇮🇱 🇮🇷 🇺🇸🗽

A huge share of young people now believe the problem is capitalism. In the US, 62% of 18 to 29 year olds have a favorable view of socialism. In France, far-left Jean-Luc Mélenchon leads among 18 to 25 year olds in every 2027 scenario. They're right about one thing: something is broken. They just have the wrong culprit. The problem isn't the market. It's the State. And only the State. Let's go back to the two crises they've been fed since school as proof that "capitalism collapses on its own." Start with 1929. They're told about crazed speculators on Wall Street. What they're not told: the Federal Reserve tightened in 1928 and 1929 to cool the stock market. Then, as banks failed one after another from 1930 on, it watched. It did nothing. Between 1929 and 1933, the US money supply collapsed by a third. Nearly a third of all banks vanished. A crash didn't cause the Great Depression. A central bank strangling the money supply did. And that's not me saying it. It's the Fed itself. In 2002, Ben Bernanke, future Fed chairman, addressed Milton Friedman on his 90th birthday: "Regarding the Great Depression. You're right, we did it. We're very sorry." Then the State piled on. The Smoot-Hawley tariffs in 1930, which helped crater world trade. A top marginal tax rate hiked from 25% to 63% in 1932. Then Roosevelt, in 1933, banned Americans from owning gold, bought it from them at $20.67 an ounce, and revalued it at $35 a few months later. A 40% devaluation with the stroke of a pen. Now 2008. Same story: greedy bankers, deregulation. Look instead at who was pulling the levers. After 2001, Greenspan cut the Fed's rate to 1% in June 2003, the lowest since 1958, and left it there for a year. Free money is a policy decision. Fannie Mae and Freddie Mac, the two giants of American mortgage lending, were creatures of the State, backed by an implicit taxpayer guarantee. Starting in 1992, Congress imposed "affordable housing" quotas on them. To meet them, they bought $700 billion in subprime securities between 1997 and 2007. In 2003, an internal Fannie memo admitted that because of those goals, it was taking risks it would never have taken otherwise. September 2008: both were placed under federal conservatorship. Then the State bailed out the banks with the money of people who had decided nothing. Privatize the profits, socialize the losses. That's not capitalism. It's the exact opposite. And behind all of it lies the original sin: they broke money. As long as the dollar was convertible into gold, the State couldn't print without limit. On August 15, 1971, Nixon closed the gold window. "Temporarily." Fifty-five years later, it has never reopened. Since then, the dollar has lost nearly 90% of its purchasing power. US federal debt went from about $400 billion to $40 trillion. A hundredfold. Mises and Hayek described all of this back in the 1920s: artificially cheap money creates booms that always end in busts. Hayek won the Nobel for it in 1974. Nobody listened. When you can print, you stop making trade-offs. You spend, you inflate bubbles, and when they burst, you print more to put out the fire. Every bailout sets up the next crisis. That's the real mechanism. A central bank setting the price of money the way Gosplan set the price of bread. Governments guaranteeing risk to buy votes. A currency diluted to pay for all of it. And every time it blows up, the same defendant: the market. Young people are right to be angry. Housing is out of reach, their savings are melting, their future is mortgaged by debts they never voted for. But capitalism didn't do this to them. What replaced it did. You don't cure poisoning by raising the dose.

„Wir sind fassungslos“ – Maschinenbauer rechnen mit Bundesregierung ab to.welt.de/HATMu58

Unionskandidatin Aigner stellt sich im Bundestag vor – „Besuch der AfD-Fraktion erübrigt sich“ to.welt.de/ceGYwq1

Die tagesschau schreibt, der Papst habe Mileis „Kettensägen-Politik“ kritisiert. Ich habe die Rede gelesen. Das Wort Kettensäge kommt darin nicht vor. Papst Leo XIV. hat am Sonntag im Palacio Libertad in Buenos Aires rund 2.500 Wörter gesprochen, Milei saß dabei. Im Originaltext auf vatican(.)va: „motosierra“ (Kettensäge) 0 Mal, „ajuste“ (Sparkurs) 0 Mal, „corrupción“ 2 Mal, „trabajo“ (Arbeit) 5 Mal. Der Satz, den fast alle zitieren: „Die Wirtschaft muss den Menschen dienen, nicht die Menschen der Wirtschaft.“ Der Satz kurz davor fehlt meistens. Da fordert der Papst, alles zu fördern, was Chancen eröffnet und die private Initiative anregt („estimule la iniciativa privada“), damit das Wachstum auch die erreicht, die es schwerer haben. Bei der Korruption wird er deutlich: Sie untergrabe das Vertrauen der Bürger in ihre Institutionen. Wer dabei zuerst an Milei denkt und nicht an die wegen Korruption verurteilte Ex-Präsidentin, hat die letzten Jahre verpasst. ntv schreibt, ein Drittel der Argentinier gelte als arm. Stimmt: 32,3% laut INDEC im 1. Halbjahr 2026. Was fehlt: Im letzten Halbjahr vor Milei waren es 41,7%, auf dem Höhepunkt der Krise 52,9%. Fairerweise: Der Papst hat klar an die Schwachen erinnert, an Familien, Rentner, Arbeitssuchende und Menschen mit Behinderung. Eine Abrechnung mit der Kettensäge ist sie nicht. Mein Vorschlag an die Redaktionen: Vor dem nächsten Bericht die Rede lesen. Sie steht auf Deutsch bei Vatican News. #Milei #PapstLeo

A few years ago, Peter Thiel wrote to Mark Zuckerberg: 70% of Millennials say they're pro-socialist. His conclusion: stop calling them stupid, and try to understand why. His explanation was economic. Too much student debt, unaffordable housing, no capital. When you own nothing, you have no reason to defend the system. He's right. But that's only half the story. The other half is school. School destroys critical thinking. Methodically. For fifteen years. You learn to recite instead of question. To find the expected answer instead of the true one. To obey authority instead of reasoning for yourself. When you've spent your youth outsourcing your thinking to an institution, it feels natural to outsource your life to an even bigger one: the State. That's why so many end up Marxist. Not by conviction. By conditioning. And that conditioning is about to become a handicap. We're entering a world where AI does everything conformist, predictable and standardized better than we do. The only value left is thinking differently. To create value tomorrow, you'll need to be neurodivergent. And someone who thinks differently and reasons from first principles almost always ends up seeing the same thing: the State, as it works today, destroys more value than it creates. It's no accident that Alex Karp created a fellowship at Palantir dedicated to neurodivergent talent. To him, in the age of AI, there are only two ways to have a future: master a real trade, or be neurodivergent. But I'll go further than Karp. I believe neurodivergence isn't the exception. It's the natural state of the human mind. Look at a four-year-old. They ask hundreds of questions a day. They take everything apart. They refuse any rule they don't understand. They think from first principles without even knowing it's a thing. Then they go to school. And we spend fifteen years normalizing them. School doesn't shape minds. It sands them down. The future belongs to those who survived the sanding.