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Ripple Effect

G’Head Vote For The Socialist… Then Watch Your Wallet

Loading ...Addison Wiggin

June 25, 2025 • 1 minute, 8 second read

socialism
G’Head Vote For The Socialist… Then Watch Your Wallet

The people of New York City went to the polls yesterday, picking the upstart do-gooder Zohran Mamdani, a 33-year-old immigrant, to be the city’s next mayor.

Mamandi ran as a full-throated socialist with retread policies like freezing rents and government-run grocery stores… because, well, those kinds of policies worked so well in the Soviet Union, to name one historic place to mandate them. 

Guess what happened after voters checked the box for Mamdani? They fired up Google to search the term “socialism”:

As Nancy Pelosi once quipped about Obamacare, “We have to pass the bill to see what’s in it.” (Yes, she really did say that.)

This is a fair warning to the people of New York City: when you vote on “the vibe” rather than common sense, bad results are likely. 

Mamdani still faces the general election. Historically, Democrats have a significant advantage in the Five Boros. But on occasion, Republicans win – think Rudy Giuliani and Mike Bloomberg. 

Still, even in the mayoral race, Mamdani was running against the “fascist” Donald Trump.

“Fascism” – another buzzword hyped up nationwide by AOC and Bernie Sanders – is sure to send people to Google search, too. 

Our forecast: People and smart money will continue to leave New York. Those on the receiving end, such as Texas, home to the New York Stock Exchange’s latest location, will benefit.

~ Addison

Beware: The Permanent Underclass

October 3, 2025 • Addison Wiggin

Back in the Global Financial Crisis (2008), we recall mass layoffs were driving desperation.

Today, unemployment is relatively low, if climbing.

Affordability is much more of an issue. Food, rent, healthcare, and childcare are all rising faster than wages. Households aren’t jobless; they’re stretched. Job “quits” are at crisis-level lows.

In addition to the top 10% of earners, consumer spending is still strong. Not necessarily because of prosperity, but because households are taking extra shifts, hustling gigs, working late into the night, and using credit cards. The trends hold up demand but hollow out savings.

It’s the quiet form of financial repression. In an era of fiscal dominance, savers see easy returns clipped, workers stretch hours just to stay even, and wealth slips upward into assets while daily life grows harder to afford.

Beware: The Permanent Underclass
Is Tokenization Inevitable?

October 3, 2025 • Ian King

Last month, Nasdaq asked the Securities and Exchange Commission (SEC) for approval to let tokenized stocks and ETFs trade on its main exchange.

If approved, these digital shares would sit side-by-side with traditional equities. Meaning, they would fall under the same U.S. securities laws that govern $50 trillion in annual equity trades.

And this rollout could begin as early as 2026, once the Depository Trust Company — the clearinghouse that settles every U.S. stock trade — updates its systems to handle digital tokens.

If it happens, this won’t be a small tweak to the machinery of finance. It’ll represent the first major step toward moving Wall Street onto blockchain infrastructure.

And we don’t have to imagine what it might look like…

Because it’s already happening.

Is Tokenization Inevitable?
The Myth of Productivity, Again

October 3, 2025 • Addison Wiggin

The launch of ChatGPT in October 2022 ended the pandemic-era bear market in stocks. The AI story has been the predominant narrative for three years now. The indexes on Wall Street are at historic highs, surpassing 2000, 1968, 1929… the last three tech-inspired bubbles.

But ChatGPT did something else. It brought the idea of “productivity gains” back into the economic conversation.

The Myth of Productivity, Again
The Stablecoin Standard

October 2, 2025 • Mark Jeftovic

Stablecoins have proceeded rapidly from being a grey zone through which capital would traverse as it moved into or out of the crypto-economy, to becoming an extension, if not a nascent pillar, of the fiat money system itself.

Coinbase Head of Institutional Research David Duong sees the market cap for stables hitting $1/2 trillion by 2028 (which would be somewhere between a 4X and 5X from where we are now).

Demetri Kofinas recently interviewed Charles Calomiris, former Chief Economist at the US Office of the Comptroller of the Currency, and it was eye-opening to hear someone of his stature speak so matter-of-factly about how the structure of the banking system is evolving in realtime.

The Stablecoin Standard