What Could Pop the Everything Bubble?

I’ve long held that if a problem can be solved by creating $1 trillion out of thin air and buying a raft of assets with that $1 trillion, then central banks will solve the problem by creating the $1 trillion out of thin air—nothing could be easier.

This is the lesson of the past eight years: if a problem can be solved by creating new money and buying assets, then central banks will solve that problem.

Problem: stock market is declining. Solution: create new money and buy, buy, buy stock index funds. Problem solved! Market stops falling and quickly rebounds as “central banks have our backs.”

Problem: interest rates are inhibiting lending and growth. Solution: create a few trillion units of currency and buy enough sovereign bonds to drop interest rates to near-zero.

Problem: nobody’s left who can afford to buy the new nosebleed-priced flats that underpin China’s miracle-grow economy. Solution: create new currency, lend it to local government agencies who then buy the empty flats.

Problem: stagnant employment and deflation. Solution: create a trillion in new currency, buy a trillion in new government bonds that then fund infrastructure projects, i.e. bridges to nowhere.

And so on. Any problem that can be solved by creating a few trillion out of thin air and buying assets will be solved.  The mechanism to solve these problems—creating currency out of nothing—is like a perpetual motion machine: there are no intrinsic limits on the amount of new money that can created at near-zero interest, as the interest payments can be funded by new money.

Even better, the central bank (the Federal Reserve) buys Treasury bonds with the new currency that generate income, which is then returned to the Treasury: a perpetual-motion money machine!

The policy of creating trillions in new currency and buying trillions in assets has inflated an everything bubble, a bubble in all the asset classes being supported or purchased by central banks and their proxies.

Many observers wonder what, if anything, could pop the everything bubble.

This leads to an interesting question: what problems can’t be solved by creating another trillion and buying assets?

What Problems Can’t Be Solved by Creating Another Trillion and Buying Assets?

The past eight years have created the comforting illusion that essentially all problems in the modern era of globalized, centralized, debt-based, state-cartel capitalism in all its flavors (Chinese, Japanese, European, American, etc.) can be solved by creating as many trillions as are needed (whatever it takes) and buying assets or issuing guaranteed lines of credit with the new currency.

But there are some structural problems that can’t be solved by this mechanism. Some are primarily economic, some are primarily political-social, but all of them affect the entire system, not just the financial realm.

Inflation

We’re told that inflation—the loss of purchasing power of a currency—is near death and this greatly saddens the globe’s central bankers, who desperately need inflation to push wages higher and reduce the burden on debtors.

So let’s say, just as a thought experiment, that central banks get their much-desired inflation, but it runs hotter than their 2% annual target.  Once inflation is embedded in expectations and the supply chain, printing another trillion and using it to buy stocks, bonds, empty flats, etc. won’t make inflation go away.  Rather, the inflation in asset valuations generated by endless central bank buying if assets ends up feeding real-world inflation as all this new currency doesn’t actually produce more goods and services; it simply expands the supply of currency sloshing around the world looking for speculative yield.

The chorus of voices advocating for Universal Basic Income (UBI) is growing, and central banks will increasingly be pressured to issue new currency to fund UBI and its equivalents—what’s known as helicopter money, as the central bank issues currency that then funds deficit spending, i.e. the government dropping cash into the real economy.

Helicopter money comes in a variety of forms: debt forgiveness, negative tax rates (i.e. tax rebates to those who owe no income taxes), and cash stipends such as UBI. In every case, this helicopter money doesn’t expand the supply of goods and services; all it does is expand the funds available for consumption.

While China may be able to export deflation in goods that are tradable, that is, commoditized goods that can be made anywhere and shipped to markets elsewhere, nontradable goods and services such as local government services, housing, groceries, fast food, most healthcare services, haircuts, education, etc.—the bulk of the real economy—soar in price as the supply of money expands faster than the supply of these goods and services.

This is why inflation is already running extremely hot in nontradable sectors (which are often dominated, funded or controlled by the public sector/government), while deflation is still visible in tradable goods such as TVs, software, etc. I covered real-world inflation rates in The Burrito Index: Consumer Prices Have Soared 160% Since 2001(August 1, 2016))

Much of the real-world inflation in sectors such as healthcare is invisible to protected classes because it’s being absorbed by employers and the government, a topic I covered in Inflation Isn't Evenly Distributed: The Protected Are Fine, the Unprotected Are Impoverished Debt-Serfs (May 25, 2017)

Real-world inflation is also distorted by hedonics and substitution, tricks that lower the official rate of inflation but don’t change the reality that the average prices paid for vehicles have risen substantially, despite the official claim that vehicle prices have been flatlined for years, a topic I addressed in About Those "Hedonic Adjustments" to Inflation: Ignoring the Systemic Decline in Quality, Utility, Durability and Service (October 11, 2017)

Be Careful What You Wish For: Inflation Is Much Higher Than Advertised (October 5, 2017)

As political pressure on central banks mounts to fund QE for the people, QE for Main Street, etc., that is, helicopter money in one form or another, the introduction of new currency into the real economy has the potential to make real-world inflation undeniable.

Once inflation is undeniably in the 5% to 7% range, who will be willing to buy a negative-interest rate bond, or a bond paying 1%?

Another potential engine of inflation that’s widely discounted is global shortages of key commodities such as oil, grain, fresh water, etc. The global economy has come to view cheap, abundant commodities as the natural and permanent state of affairs, but history tells us that abundance and low prices are not permanent.  Since essential commodities are integral to the global supply chain, any price increases due to scarcity or supply disruption quickly feed inflation into the entire supply chain.

Inflation is a problem that creating another trillion won’t solve; creating and distributing another trillion or two will actually make the problem worse.

Rising Social Disorder Due to Soaring Wealth-Income Inequality

Famed financer Ray Dalio recently penned a commentary labeling the divergence of the wealthy elite from the bottom 90% The Most Important Economic, Political And Social Issue Of Our Time.

This is a topic many alt-financial bloggers have covered for years; I’ve penned dozens of essays on the topic, most recently The Fading Scent of the American Dream (October 16, 2017)

This chart depicts the inconvenient reality: central bank currency-creation-asset-buying has enriched the top of the wealth-power pyramid, with limited trickledown to the top 10% and negative effects on the bottom 90%.

The consequences of this outcome of central bank stimulus-for-the-already-wealthy can manifest in all sorts of ways.

Political pressure on central banks may grow, forcing policy changes or even limiting the scope of central bank largesse to banks and financiers.

Social movements demanding UBI and other income-distribution policies may become mainstream, a dynamic that as described above will add to the inflationary pressures building in the real world.

Once again, creating another trillion and buying more assets held by the wealthy won’t fix this problem—it will only make it worse.

Fragmentation of the Elites

As I have often noted, historian Michael Grant identified profound political disunity in the ruling class as a key cause of the dissolution of the Roman Empire. Grant described this dynamic in his excellent account The Fall of the Roman Empire, a book I have been recommending since 2009.

The chapter titles of the book provide a precis of the dynamics Grant identifies:

The Gulfs Between the Classes

The Credibility Gap

The Partnerships That Failed

The Groups That Opted Out

The Undermining of Effort

I’ve discussed profound political disunity in dozens of essays since 2009, for example, When Did Our Elites Become Self-Serving Parasites? (October 4, 2016)

The Real Trouble Begins When Rising Inequality Splinters the Elites (October 22, 2015)

There are a number of manifestations of profound political disunity we can discern:

-- The splintering of the technocrat class as soaring wealth and income inequality narrows opportunities for financial security for the class that considered security and wealth a birthright.

-- The fragmenting of the Deep State, the unelected, permanent leadership of the Establishment, a subject I’ve addressed since 2014: The Age of Disintegration: Political Disunity and Elites At War. (November 21, 2016)

-- The fragmentation of the two political parties into warring camps that have little common ground in a struggle for control of the rising tide of populism.

-- The splintering of the social order into conflicting classes of Haves and Have-Nots, a topic I covered in America's Nine Classes (April 13, 2015).

Once again, creating another trillion and buying assets—a policy that enriches the financial elites at the expense of every other class and elite—doesn’t solve the problem, it only makes it worse.

Popping the Everything Bubble Created by Central Bank Currency Creation-Asset Buying

As central bank creation of currency and asset purchases fail to solve the problems outlined above, these dynamics will undermine the status quo rather than prop it up.  As central bank policies are increasingly fingered by the mainstream as the source of soaring wealth-income inequality, central bank policies supporting credit/asset bubbles will either be limited or cut off, and at that point all the credit/asset bubbles will pop.

In Part 2: What To Invest In When The Everything Bubble Bursts, we lay out our how to best prepare for the social discord, political disorder and financial upheaval that will result when the central banks inevitably lose control of the system.

As today's bubble-drunk asset prices start plummeting, what investment opportunities will offer the best returns?

To find out, click here to read Part 2 of this report (free executive summary, enrollment required for full access)

Editor's note: This article was originally published on TheBlaze.com.

I want to talk to Generation Z. I’ve seen some clips of you complaining about your 9-to-5 jobs on social media and how life is really hard right now. To be honest, my first reaction was, “Suck it up, buttercup. This is what life is really like.” In a sense, that’s true. But in another sense, I think you’re getting a bad rap. You are facing unique problems that my generation didn’t face — problems that my generation had a hand in creating.

But I also think you don’t understand the cause of these problems.

I would hate to be in your position. When I was your age, we didn’t have to deal with any of the challenges you’re facing. In one sense, your life has been tough. At the same time, compared to previous generations, your life has been very easy. Everybody was rushing to save you, to protect you. You were coddled, which makes your life harder now.

You’ve grown up with social media and the definition of narcissism: somebody gazing into the pond looking at themselves all the time. I don't mean this as an offense, and I am not just including you in this. We’ve become a culture of narcissists. It’s all about “me, me, me, me.”

If you end up thinking more collectivism is the solution, then you haven't done enough homework.

You’ve been in territory that my generation never had to enter. You’ve already navigated a landscape that we didn't have to, where nothing is true, and you can’t trust anybody. I wouldn’t trust anybody either if I were in your position. But I do know a few things to be true and a couple of things I can trust.

First, life is worth it. Life is tough, but it is worth it in the end.

Second, life is not about stuff. As a guy who is kind of a pack rat, I can tell you that none of that stuff will create happiness in your life. In fact, I think your generation has a better handle on happiness in some ways than anybody in mine. You’re starting to realize that pharmaceuticals may not be as good as natural solutions in a lot of situations, that the huge house may not be as satisfying as just having a smaller house, that living your life instead of having to work all the time may be a better way to live.

I want to talk to those of you who feel like it’s not worth even trying to go to work because you’ll never get anywhere. You work 40 hours a week or more, and you still can't afford a place to live. You’re still living with your parents. You can’t afford food. I think you're right to feel frustrated because the problems you're facing weren't always the case.

I blame a lot of the current problems we’re facing today on the hippies. That may be wrong, but I hate hippies. Hippies have been screwing things up since the 1960s. While on their socialist march, they have become everything that they said they were against: lying, greedy politicians. They just won’t let go of their power even though their time has passed.

These are the people who have come up with policies that make you feel like this is the way the world is. I hope I can convince you that it doesn’t have to be this way. This isn’t the way our country has always been. We don’t have to keep these people in power. Actions have consequences. Votes have consequences. These people allow crime, looters, squatters, riots, and somebody needs to pay for that.

You say you can’t afford health care. I understand. Since Obamacare passed, the cost of individual health insurance has doubled. You need to remember that politicians promised that if we passed this massive health care overhaul, it would mean a savings of $2,500 per family. You're in school. You must know that $2,500 savings is not the same as an 80% increase. Moreover, the cost of hospital stays is up 210%. I understand when you say you can't afford health care at these costs. Who could afford health care? Who could afford insurance?

The generation coming of age is right to feel frustrated.This mess — with high costs and a massive debt burden — was not of their making.

Iwant to talk to Generation Z. I’ve seen some clips of you complaining about your 9-to-5 jobs on social media and how life is really hard right now. To be honest, my first reaction was, “Suck it up, buttercup. This is what life is really like.” In a sense, that’s true. But in another sense, I think you’re getting a bad rap. You are facing unique problems that my generation didn’t face — problems that my generation had a hand in creating.

But I also think you don’t understand the cause of these problems.

If you end up thinking more collectivism is the solution, then you haven't done enough homework.

I would hate to be in your position. When I was your age, we didn’t have to deal with any of the challenges you’re facing. In one sense, your life has been tough. At the same time, compared to previous generations, your life has been very easy. Everybody was rushing to save you, to protect you. You were coddled, which makes your life harder now.

You’ve grown up with social media and the definition of narcissism: somebody gazing into the pond looking at themselves all the time. I don't mean this as an offense, and I am not just including you in this. We’ve become a culture of narcissists. It’s all about “me, me, me, me.”

You’ve been in territory that my generation never had to enter. You’ve already navigated a landscape that we didn't have to, where nothing is true, and you can’t trust anybody. I wouldn’t trust anybody either if I were in your position. But I do know a few things to be true and a couple of things I can trust.

First, life is worth it. ≈

Second, life is not about stuff. As a guy who is kind of a pack rat, I can tell you that none of that stuff will create happiness in your life. In fact, I think your generation has a better handle on happiness in some ways than anybody in mine. You’re starting to realize that pharmaceuticals may not be as good as natural solutions in a lot of situations, that the huge house may not be as satisfying as just having a smaller house, that living your life instead of having to work all the time may be a better way to live.

I want to talk to those of you who feel like it’s not worth even trying to go to work because you’ll never get anywhere. You work 40 hours a week or more, and you still can't afford a place to live. You’re still living with your parents. You can’t afford food. I think you're right to feel frustrated because the problems you're facing weren't always the case.

I blame a lot of the current problems we’re facing today on the hippies. That may be wrong, but I hate hippies. Hippies have been screwing things up since the 1960s. While on their socialist march, they have become everything that they said they were against: lying, greedy politicians. ≈

These are the people who have come up with policies that make you feel like this is the way the world is. I hope I can convince you that it doesn’t have to be this way. This isn’t the way our country has always been. We don’t have to keep these people in power. Actions have consequences. Votes have consequences. These people allow crime, looters, squatters, riots, and somebody needs to pay for that.

If you end up thinking more collectivism is the solution, then you haven't done enough homework.

You say you can’t afford health care. I understand. Since Obamacare passed, the cost of individual health insurance has doubled. You need to remember that politicians promised that if we passed this massive health care overhaul, it would mean a savings of $2,500 per family. You're in school. You must know that $2,500 savings is not the same as an 80% increase. Moreover, the cost of hospital stays is up 210%. I understand when you say you can't afford health care at these costs. Who could afford health care? Who could afford insurance?

You are also starting your life with thousands of dollars in debt. Your parents didn't have that burden. People used to be able to work their way through college and graduate debt-free. Others were able to get jobs that quickly paid off their debt. You can't do that now. Once the government said that they were going to guarantee all student loans, university costs skyrocketed, and it hasn't stopped. You can thank the progressive President Lyndon B. Johnson for that.

The people who created this mess cannot fix it. But it can be fixed.

You are also starting your life with thousands of dollars in debt. Your parents didn't have that burden. People used to be able to work their way through college and graduate debt-free. Others were able to get jobs that quickly paid off their debt. You can't do that now. Once the government said that they were going to guarantee all student loans, university costs skyrocketed, and it hasn't stopped. You can thank the progressive President Lyndon B. Johnson for that.

Once the government said that they were going to guarantee everybody’s college tuition, universities found out that they could just charge more because the government would give you virtually any amount in your loan. And they have been charging more and more ever since. In 1965, the average college tuition was $450 a year. Adjusted to inflation, that's $4,000 a year. You're currently paying an average of $26,000 a year as opposed to the inflation-adjusted $4,000.

What happened? The answer is always the same: government regulations. Gas is up. Why? Government regulations. Can't afford a house? Well, that's due to several things. Many of them revolve around the fed and our national debt. But the simple answer is the same: government regulations.

Moreover, the U.S. government has run a staggering national debt. We have been concerned about it forever, but the people in power haven't been listening to your mom and dad and people like me. A lot of other people just thought, "Oh, well. We could get away with it. We're the United States of America, after all. Somehow or another, it will all work out."

People like me have been saying, "No. We can't pass this on to our children." You're now seeing what we have passed on. When you say that the adults are responsible for creating this world of problems, in some ways, you’re right. We were lied to, and as many people do, they want to believe the lie because it makes them feel better.

There are big lies being pushed in your generation as well. You're being told that a man is a woman and a woman is a man. At the same time, you’re being told that gender doesn't even exist at all. It makes us feel better to go along with the lie because we don't want to hurt anyone's feelings.

My generation believed the same kind of lie about our national debt. We were told that we could spend all this money on subsidized programs because it would provide you, our children, with a better life. Some people warned, "Wait, how will they pay this off? This will cost them." We didn't want to believe them. The lie sounded better, and it was easier to believe that than the truth. We never saw the consequences, and even if we did, they were always way out in the future. Nobody wanted to listen to the doomsday people saying, "No. It's going to come faster than you think."

And that time is right now. Our government now is printing $1 trillion every 100 days. That's never been done before. We have more debt than any country has ever had in the history of the world. But we’re not alone. Every country is doing this. They’re going into debt like we’ve never seen before, and we’re all about to pay for that. It’s going to make your life even harder.

There are Democrats and Republicans who still believe in spending all kinds of money and getting us involved in every global conflict. Then there are constitutional conservatives who believe that we should conserve the things that have worked and throw out the things that don’t and follow our Constitution and Bill of Rights. You haven't really learned about those most likely. But you should. All of our problems are caused by the government and the people who feel they can bypass the Constitution. That's what this election is really all about.

You might say, “I don’t really care. I don’t like either of the political parties.” I know a lot of people who don’t like either of them, but one is going to try to cut the size of this government and one is going to spend us into collapse.

The people who created this mess cannot fix it. But it can be fixed. You need to learn enough about the truth, about why this has happened to us, and about how our Constitution lasted longer than any other Constitution in the world. The average is 17 years. This thing has lasted hundreds of years. Why? How? And why is it falling apart today? That's what you should dedicate some of your time to figuring out today.

You can complain about the way things are. I complain. Everybody complains. But don't wallow there. Learn what caused this. And if you end up thinking more collectivism is the solution, then you haven't done enough homework. They always end the same way, and that's exactly where we're headed right now. We can either repeat the dreadful past of nations that have tried it before us, or we can choose freedom, liberty, and prosperity. The ball is in our court.

Glenn recently had Representative Thomas Massie on his show to sound the alarm about an important yet often overlooked issue affecting what we eat. Whether you're trying to be prepared to weather a catastrophe or just trying to keep food on the table without resorting to eating bugs, it's more important now than ever to source local food. Unnoticed by most, our right to eat home-grown or locally-sourced foods is under attack. The government doesn't just want a say in what you eat; they want you vulnerable and dependent on their system, and they are massively overstepping their bounds to ensure your compliance with their goals.

How did the attack on your food begin?

Government overreach on food can be traced back to 1938 under the autocratic eye of FDR with the Supreme Court case "Wickard v. Filburn." The case was pretty straightforward, but the results were devastating. The case began with the Agricultural Adjustment Act of 1938, which sought to control national food prices by placing limitations on how many crops farmers could grow in a season.

Filburn was one such farmer, who was allotted 11.1 acres of wheat to plant and harvest annually. Filburn planted and harvested 23 acres, arguing that the extra acres were not headed for the market, but were used for personal consumption. After being penalized for over-harvesting, he fought his case all the way up to the Supreme Court, arguing that Congress did not have the authority to regulate crops that never left his farm.

Unfortunately for Filburn (and the rest of us), the Supreme Court didn't agree. They ruled that the mere existence of that extra wheat—whether it left Filburn's farm or not—had an effect on the national value of wheat. Congress assumed the power to regulate just about anything that could be roped under the umbrella of "interstate commerce."

Under the precedent set by Wickard v. Filburn, Congress might bar you from growing tomatoes in your backyard, because it could affect national tomato prices. This was a major blow to our right to feed ourselves, and that right has been eroding ever since.

How is our right to feed ourselves under attack today?

Last June, the Virginia Department of Agriculture shut down Golden Valley Farms, a small Amish farm owned and operated by Samuel B. Fisher in Farmville, Virginia. Golden Valley Farms had started out selling dairy products, primarily, and processed some meat for personal consumption. However, by popular demand, Fisher began selling meat.

Fisher initially hauled his animals to a USDA processing plant, paid to have them processed, and then hauled them back. This process was time-consuming and costly, and Fisher's customers didn't want the meat processed by the plant. A survey done on Golden Valley Farms customers found that an overwhelming 92 percent preferred meat processed by Fisher. So naturally, Fisher began to process more and more meat for his customers.

Moreover, COVID shut down the USDA plant, which made it impossible for Fisher to process the animals by the USDA anyway, though the demand for meat was greater than ever. Fisher made the call to process 100 percent of his animals himself and didn't look back. That was until June when the Virginia Department of Agriculture caught wind of Fisher's operation and shut it down. The VDA seized all of Fisher's products, and he wasn't allowed to process, sell, or even eat his meat. Then they loaded it up in a truck and left it at the dump to rot.

Nobody ever got sick from eating meat from Golden Valley Farms. This was NOT about "health and safety." This was about control. The fact is that informed adults were not allowed to make a simple transaction without the government sticking its slimy fingers into Fisher's business and claiming it was somehow for "our benefit." But it's not for "our benefit." It's so they can regulate and control what we buy and what we eat, and they cannot stand it when we operate outside of their influence.

What comes next?

Where does this end? With so much of our ability to feed ourselves already eroded, is it too late? Is it going to get worse? Before long, will it be illegal to eat eggs from your chickens or pick vegetables from your garden without getting government clearance first? Fortunately, a solution is already in the works.

Kentucky Representative Thomas Massie recently told Glenn about a new constitutional amendment designed to limit government overreach regarding food production. The proposed amendment reads as follows:

And Congress shall make no law, regulating the production and distribution of food products, which do not move across state lines.

The amendment is still on the drawing board and has not been formally introduced to Congress yet. But this is where you come in. Call your representative and tell them to support Massie's amendment and take a stand for your right to provide sustenance for you and your family.

If we can build skyscrapers, we can rebuild bridges

Kevin Dietsch / Staff | Getty Images

Editor's note: This article was originally published on TheBlaze.com.

I am sick and tired of hearing about our limitations. The collapse of the Francis Scott Key Bridge this week is an amazing hero story of the cops and first responders who saved an untold number of lives by doing exactly the right thing quickly. But I’m really tired of hearing about how long it’s going to take us to recover from this catastrophe and how bad it’s going to be.


The immediate impact for Americans regarding this bridge collapse seems dire. If you're waiting for a new car to come in from overseas, prepare to wait longer. The Port of Baltimore stands as the nation’s leading import-export site for cars and trucks. It’s also the leading nexus for sugar and gypsum, which is used in fertilizer, drywall, and plaster. A record 52.3 million tons of foreign cargo was transported through Baltimore just last year.

To expect more from our leaders is rational. But to expect the most from ourselves is essential.

The bustling port is now cut off after the 1.6-mile-long bridge crumbled and fell into the river early Tuesday, blocking the only shipping lane into the port.

The officials have said the timeline for rebuilding the bridge will be years. The Port of Baltimore creates more than 15,300 jobs, with another 140,000 jobs linked to the activity at the port. This is a major disaster and will continue to cause significant problems on the East Coast for U.S. importers and exporters.

The bridge collapse means it will not be possible to get to the container terminals or a range of the other port terminals in Baltimore. Maryland Secretary of Transportation Paul J. Wiedefeld told reporters on Tuesday that vessel traffic in the port would be suspended until further notice but noted the port is still open to trucks.

Michael Mezzacappa, an attorney and expert on property damage cases in the shipping industry, told the New York Post that the collapse will have a major impact on shipping and traffic routes in the East Coast for the foreseeable future. “It’s not going to get fixed any time soon,” Mezzacappa said. “It’s going to take a lot longer than anyone expects. This is going to be a major problem for the Northeast.”

Remember the American spirit

I am absolutely sick to death of all of these stories that say things like that. Have we forgotten who we are? Have we forgotten what we’ve done?

Let me remind you of the American spirit, a spirit so potent and so vibrant that it has scaled towering mountains, mountains nobody thought they could cross.

It’s the spirit that constructed marvels of engineering. Have you ever been to the Hoover Dam? Have you seen the New York City skyline? The skyscraper was invented here for a reason. Here we are on the threshold of tomorrow, and none of us knows what is going to happen. But I'm getting the impression that we’ve been so beaten down that we believe we’re not going to make it tomorrow.

Have we forgotten who our ancestors are and what they did? If you look through our history even briefly, you will see a group of people who never take no for an answer. You will see a people who can do anything.


I want to stop just briefly in 1930. The Great Depression had its icy grip on us. It was a time that felt like a flickering candle in the vast darkness just barely holding on. Yet, it was in this crucible of adversity that Americans did great things.

The Empire State Building rose. It wasn’t just a structure of steel and stone. It was a beacon, a beacon of hope and American resilience and ingenuity. The way that thing was built — no one has ever seen anything like it before and since. In a record-shattering one year and 45 days, an army of workers, as many as 3,400 men on certain days, transformed this audacious vision into a cowering reality.

If you look through our history even briefly, you will see a group of people who never take no for an answer.

The Empire State Building wasn’t constructed. It was conjured into existence with a symphony of clanging metal and roaring machines and the inexhaustible spirit of its builders. The men perched on steel girders that were being flown in by giant cranes whispered tales about how they could still feel the warmth of the freshly poured metal beneath them. That beam was still warm, even though it was poured in Pittsburgh, put on a train, then put on a boat, then on a truck, then hauled up into the air.

They could fill the warmth because we moved that fast. It was a feverish pace of construction. It seemed to defy the laws of time and physics.

For a long time, it was the tallest building in the world — an architectural achievement. It was also a declaration to the world that America was a land where the impossible became possible, that we are a people of determination, innovation, with a relentless will to succeed.

These aren't merely historical footnotes. They are blazing torches illuminating our path forward. They remind us that when we're faced with adversity, we don't just endure it. We overcome it. We don’t wait for history to chart our course. We write it with the sweat of our brow and the strength of our backs. That’s who we are. Have we forgotten that?

What are we waiting for?

We find ourselves at another crossroads faced with the challenges that threaten to dim the bright future that we all dream for our nation, for our children. The spirit that built the Empire State Building, laid down miles of railroads, cut through the Rocky Mountains, and sent astronauts to the moon is still inside of every heart of every American, somewhere.

Awaken that spirit. Scale new mountains. It's not just rock and earth. Scale the mountains of innovation. Build. Not just physical structures but a future that upholds the spirit of adventure, hard work, and ingenuity. Stop tearing everything down. Let's start building.

Why are we waiting? If this isn't a national emergency, I don't know what it is.

And I don't just mean the bridge. I mean all of it. You might say, “Well, our government has to lead.” Really? Does it? Maybe that’s our problem. America is led by its values and principles that are found in the souls of those who still remember who we are and who we serve. Americans lead the way. The government always follows.

You might say again, "Well, we can’t act without the government." Nonsense! Where are the bridge builders who will stand up today and say, “I'll get it done!” As soon as that happens, you’ll see who is leading and who is stalling. The government is the one that stalls the engine out. To expect more from our leaders is rational. But to expect the most from ourselves is essential.

There is nothing we can't achieve when we all stand together, united by our dreams, and driven by the will to see them fulfilled. Don't listen to anybody else who tells you differently.

6 things every voter needs to know heading into the 2024 election

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Election season is coming up and every vote matters. Over the last four years, our country has experienced some of the lowest lows it has seen in a long time. From horrors at the southern border to government overspending, it is clear: our country is in trouble. Everybody needs to get out and vote.

When you look at the numbers, there are some noticeable trends in who actually votes... and who doesn't. According to Pew Research, the more mature crowd (30 and up) gets out there and does their civic duty, while the younger crowd (18 to 29) just doesn't make it out to the polls. If you are a young or first-time voter, the process can seem daunting. You have to jump through some bureaucratic red tape before you can head to the polls, which can be frustrating and discouraging for someone who has never done it before.

If this describes you or someone you know, you're in luck. We compiled everything you need to know to get ready to hit the polls this election season in a convenient guide below.

Get an I.D.

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The first thing you'll need is a valid state I.D. These can take a while to acquire, so if you don't yet have one, it's time to get on it. Not all states require I.D., and every state has different requirements. You can check to see if your state requires an I.D. to vote here.

Register to vote

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Every state, except North Dakota, requires prospective voters to register, so it is important to make sure you are registered in the state and county you reside in. Every state has a different registration process. You can find your state's registration website here.

Confirm date of election day

You want to make sure you arrive at the polls at the right date and time. Most states have a set election day, and often there are even a few days or weeks of early voting that lead up to it. Check out this list of election dates to find out your election day and mark it in your calendar.

Find your polling location

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You can find polling locations on your state's voter information website, which can be found here. Keep in mind that you will likely have to find a location within the county where you reside. These locations often include public schools, public libraries, city halls, and other public buildings.

Research candidates on the ballot

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Before you vote, it is important to be educated in what you are voting for. Find out who will be on the ballot (and don't be surprised when it's not just the presidential nominees), and do a little digging. Don't assume that because a candidate has a little "R" next to their name they share your values. You can visit this website to find out who will be on the ballot in your local area.

Actually go vote

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There is nothing else to to but get out there and vote! Go out there and make your voice heard!