“He has to blame immigrants and the disabled, because to blame anything or anyone else would be to question capitalism. Which cannot be done.” @chrisdillow.bsky.social stumblingandmumbling.typepad.com/stumbling_an...
maybe you need to have a Hoover before you can get an FDR. (honestly i’d rather just have a US Congress that represents the broad public and is not supine.)
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the hubristic "best and brightest" are responsible for many, many, failures and catastrophes. it does not follow, however, we are learning, that we should therefore vest power in the worst and the stupidest.
not sure the Fed's balance sheet keeps shrinking. ( source fred.stlouisfed.org/series/WALCL )
Graph of the Fed's total assets, which jump during the financial crisis, continue to rise over years of QE, begin to decline but then jump sharply during COVID, peak at about $9T around 2022, and have been declining since.
this is what retribution looks like. against existence itself. against anything or anyone that might have or might yet annoy him.
If Trump remains obstinately on this course, a US recession (at the very least) is certain. Whether the recession is global depends whether rest-of-world big economies can get over either their austerity fetish or their unwillingness to seriously tax the very rich. 1/
(Traditionally, it's deficit spending that's considered stimulus. But taxing the very wealthy affects overall demand almost not at all, while government spending still stimulates demand. Investment spending is a function of anticipated consumer demand much more than rich-person wealth.) /fin
on Mar 31, I placed an order for a customized Mac laptop, trying to beat the tariffs. it was scheduled for delivery Apr 14. a payments glitch meant the order wasn't actually placed until Apr 1. the laptop was delivered to the local Apple Store Apr 4. I think they too were trying to beat the tariffs.
John Roberts' "entire project has been that of imposing strict limits on the remedial power of the courts… this has the effect of permitting the 'bad men' of American public life to make the law their perch and not their terror." @hurricanexyz.bsky.social eveningconstitutional.net/john-roberts...
The fact of the matter is the Biden Team did a pretty phenomenal job on jump-starting the reshoring strategic industries, especially given the constraints imposed by an often bad-faith Congress. As @ryanlcooper.com predicted, we are blowing that all up. prospect.org/economy/2025...
Donald Trump Is Going to Destroy American Manufacturing
Link Preview: Donald Trump Is Going to Destroy American Manufacturing: Bidenomics created a manufacturing boom. Trump is tearing that up by the roots.
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basically everything's gonna become like prescription drugs, if you live near the Canadian border you do your shopping there, right? or are they gonna impose duties on the Walmart haul in the back of your SUV?
legalizing fraud hasn’t made crypto prices go 🚀. who woulda thunk.
Trump’s DOJ will no longer prosecute cryptocurrency fraud
Link Preview: Trump’s DOJ will no longer prosecute cryptocurrency fraud: Ongoing investigations will be dropped.
i like strange bedfellows. that way what’s disagreeable you can pawn off as a kind of kink.
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do outcomes from the Supreme Court’s “shadow docket” constitute precedent binding upon lower courts?
are any legislators proposing to amend the Alien Enemies Act to define less precarious review and relief, and place limits on to where “enemy aliens” can be removed? i know nothing will pass unless and until the orange wall breaks. but you make change by pushing and failing before you push through.
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via @scaggs.bsky.social, watch techbros cure the trade deficit by insisting surplus countries use the trade proceeds to… buy US debt. “So basically… buy our stuff, or buy our debt. Either way, you're paying up.” xcancel.com/seanheilweil... brilliant disruptive novel ideas from our tech sector.
The Silicon Valley arc of history, from the Apple’s 1984 commercial and “think different” to automating a domestic Stasi. ht @bananapantz.bsky.social
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don’t think it will be easy. it isn’t black and white.
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“A trillion comments have been wasted accusing the wrong people of Trump derangement syndrome. The real TDS afflicts those who keep seeing a rational actor, or an economic chess game, where none exists.” @edwardluce.bsky.social www.ft.com/content/9f51... ht @antoniofatas.bsky.social
Trump has no idea what he has unleashed
Link Preview: Trump has no idea what he has unleashed: There is no school of foreign policy realism or trade mercantilism that could explain the US president’s actions
yesterday: “i read the news today, oh boy.” today: “i read the news today, oh boy.” tomorrow: “i read the news today, oh boy.”