The tragedy of #Venezuela! In 1965 it was among the highest in GDP per capita and in a democracy. After the oil price rise it got even richer. With Chavez and Maduro (calling themselves socialists) it is as poor as Haiti & 1/3 of the population has emigrated!

@pkrugman.bsky.social discussed in Substack Charlie Kirk’s success in attracting young men to MAGA by claiming back the 20th century roles of men and women in the workplace and in life. Only raising the salaries in 21st century services will provide satisfactory jobs for all.

After getting various answers from ChatGPT that obviously were based on Wikipedia, I asked it if Open AI supported Wikimedia. It found Apple, Google.org, plus individual donors like Omidyar Network did, but not OpenAI. So I asked it to prepare a call for social media. This is it. Let's use it:

This is one of the incredible facts of the tragedy of #Venezuela . While the ruling kleptocrats live in luxury, public sector workers earn, in a MONTH, below the DAILY poverty level wage of the UN (see #FT: www.ft.com/content/5ccb...).

Strong warning from @kyleichan.bsky.social‬ in the @nytimesusa.bsky.social. He published an article about the increasing danger for the US of losing the technological race with China and the need to urgently shift policies (the opposite of what is being done). www.nytimes.com/2025/05/19/o...

Unbelievable! How will the #beautifulbill' affect the MAGA followers and everyone else? @rbreich.bsky.social
summarized it in Substack. Here are 8 points from it:

So obvious it's embarrassing! Which industries does the tariff policy want to bring back? Old industries or new ones? Parts or finished products? Nobody knows, so nobody will risk investing. See @ranaforoohar.bsky.social in @financial-times.bsky.social

Finally a bit of good news: @financial-times.bsky.social
"Donald Trump pledges to cut drug prices for Americans" That is what Biden tried to do too. Price levels in the US are literally criminal. But if imports are finally allowed, will they be tariff free?

Apart from withdrawing research funding from the main universities, Trump and his team are taking away visas from international students. It is well know that foreign graduates keep favourable economic and scientific links with the countries where they studied. Another shot in the foot!

Maybe it's time to understand why, from the 1980s, US productivity went to profits and not to wages. It was the import of cheap consumer goods from China! Will wages have to go up and profits down now? Shouldn't the US specialise in high tech industries and services and pay better?