Raised in New York City’s most liberal neighborhood. Conservative by the grace of God. Ask me for my Signal #.
Among all the lost causes.
Joined March 2007
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Some people have asked if this would be seen as “political interference” in the midterms.
I don’t think so. For one, some prominent Trump supporters think a hike makes sense. Two, it’s not the start of a hiking cycle but the continuation of one. Three, who is going to make that accusation?
“From a risk-management perspective, it probably makes sense to raise rates,” says Neil Dutta, head of US economic research at Renaissance Macro Research, as markets anticipate the Federal Reserve to hold interest rates steady this week bloom.bg/4i6gbKu
This is correct!
“From a risk-management perspective, it probably makes sense to raise rates,” says Neil Dutta, head of US economic research at Renaissance Macro Research, as markets anticipate the Federal Reserve to hold interest rates steady this week bloom.bg/4i6gbKu
Counter-point: women with short hair tend to be underbid in the dating and marriage market. Even if you prefer long hair, there’s an obvious arbitrage opportunity since most women with very short hair in their youth will grow their hair out later.
Making the color green is quite an insane choice.
Tonight, Cardiff Castle will light up green to mark Dwarfism Awareness Day. 💚
The illumination celebrates diversity and helps raise awareness and understanding of dwarfism. orlo.uk/S4Qel
ALT Cardiff Castle illuminated at night by bright green floodlights against a dark sky. Caer Castell Caerdydd wedi'i oleuo wrth nos gan fflachlysau gwyrdd disglair yn erbyn awyr dywyll.
The public sector’s debt is a private sector assets but also a private sector liability. Ultimately, government borrowing creates claims on the private sector.
Great video.
Here’s my succinct version of your (and my) objection: the MMT sectoral accounting records the private sector’s claims on government (bonds issued, deficits, debt) without capitalizing the government’s corresponding claims on private resources.
What appears to be an accumulation of net financial assets or net saving by the private sector is only an illusion. In fact, the public sectors liabilities are really the private sector’s through an intermediary.
The bond holder is paid off through the government with private sector assets.
In other words, the public sector’s liabilities are really the private sector’s. Since the government has almost no income generating assets of its own, its liabilities must be serviced with the private sector’s assets.
Welcome back to FOMC week.
Here’s what I wrote on Friday. If Warsh really wants to break the habit of watching the Fed rather than the economy, he’s probably got to hike.
Why did liberalism collapse in the UK? My controversial thesis is that successful liberalism depends on a sense of looming civil war. It’s a compromise, a peace settlement. When the threat of domestic war fades, the willingness to abide by the compromise falls away.
John Carney retweeted
I appreciate the level of both innumeracy and ignorance needed to reject this chart on grounds that IEEPA tariffs were struck down in Feb 2026.
Innumeracy: If you look at the first derivative (i.e., month over month change), most of the shift occurs by February.
> 2024 rate: (-15k)/mo
> 12/25-2/26 rate: level
> 7/26-9/26 rate: +12k/mo
Or, put another way, acceleration in job growth after IEEPA ruling accounts for less than one-third of the job gain over 2024 baseline rate.
Ignorance: Trump administration immediately replaced IEPPA tariffs with Section 122 tariffs and then Section 301 tariffs. The average tariff rate at time of Court ruling was 5.1x pre-Trump level. Average tariff rate since has been 4.2x pre-Trump level (source: Yale Budget Lab).
If your point is that an effective tariff rate of 13.8% is a policy disaster but a rate of 11.3% is great trade policy that drives manufacturing employment higher... I mean, 🤷♂️
Good chart from this week's The Real Economy @commonplc:
Readers added context they thought people might want to know
Supreme Court struck down IEEPA tariffs on February 20, 2026. The employment gains above trend shown in the chart occurred after the ruling. scotusblog.com/2026/02/suprem… fred.stlouisfed.org/series/MANEMP
JCO nails it here.
And she should know. Her books are often about people who are nothing like her but are nonetheless deeply probing and compelling. She never drowned in Ted Kennedy’s car, for example.
really? what a narrow view! Anderson did in fact write sympathetically & convincingly about girls & women; even Hemingway has a story from an adolescent girl's perspective, "Up in Michigan," that is a knockout; not to mention D.H. Lawrence, Scott Fitzgerald, Thomas Hardy & (not least) Shakespeare.
if men can't write about women, women presumably can't write about men.
educated people can't write about lesser-educated people, Black writers can't write about brown people, people from Maine can't write about people from Vermont, no one can write about anyone except the sickly face in the mirror.
John Carney retweeted
My new RealityChek post details why a recent @Courtenay_Brown piece for @axios on US manufacturing and her response to my criticism here were so thoroughly bizarre.
Breitbart Business Digest: The Bond Vigilantes Surrender breitbart.com/economy/2026/1… via @BreitbartNews
Are we sure this woman is not related to @lindsaylohan?
Check this out. Super cool interview with Jonathan Gould by @AshBennington about the GENIUS Act.
Yesterday, Jonathan Gould's office dropped the final rule to implement the GENIUS Act.
Then he sat down with Real Vision on the floor of the @NYSE
Jonathan Gould x Ash Bennington. Full interview live now.
@USComptroller
Robots will never replace humans.
tiktok.com/@coyoteuglynewyor…
It’s so so so weird that progressives want corporations to hoard cash.
