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Looks like we need another $500 billion or so. Hum baby! Predictions are hard, especially about the future, but two predictions are easy: 1) governments that do not yet impose wealth taxes will do so within the next five years and 2) governments will impose windfall taxes on all outsized unearned gains, from any source, anywhere on the planet.

We can only choose one: open, dynamic stability (evolution) or autocracy (instability and collapse). When the fundamentals of life change, every organism must evolve or die. This is equally true of human organizations, societies and economies. Evolution requires conserving what still works and experimenting until something comes along that works better.

Global food production rests on soil and rain. Robots don’t change that. Of all the modern-day miracles, the least appreciated is the incredible abundance of low cost food in the U.S. and other developed countries. The era of cheap food is ending, for a variety of mutually reinforcing reasons.

The cycles of The Fourth Turning, Fischer and Turchin are all in alignment at this point in history…