Reader Steven Kopits opines on the CBO projection: “by historical standards , we might expect the 10 year rate around 5.0% for the next decade”. I thought it useful to look at the data: First the ten year Treasury yield....
Yves here. Perhaps readers will beg to differ, but there seems to be some flawed assumptions in this piece. First is that the decision on how much and how to rebuild Los Angeles should be left to the community, whatever...
I’d grumbled to Lambert about the lack of discussion among self-styled Trump resisters of litigation to counter some of the obvious lawbreaking initiatives Trump planned, with DOGE, intended to serve as a scorched-earth austerity exercise, at the top of the...
“People fail to get along because they fear each other; they fear each other because they don’t know each other; they don’t know each other because they have not communicated with each other.” — Dr. Martin Luther King, Jr. #mlkday2025...
The German embassy also joined the pile-on, with unintended consequences. One of the many rudimentary tasks of embassies and consulates is to promote and support educational exchange programs, scholarships, and academic partnerships with host countries. This is precisely what Russia’s...
Yves here. It seemed appropriate to go with the news flow and thus provide an extra helping of Trump coverage. Please filter out the upset in the opening paragraphs about the right wing around the world being a threat to...
By Lambert Strether of Corrente. On the Friday before inauguration day at 9:00pm, President-elect Donald Trump released a memecoin, $TRUMP, that by Sunday was valued at $58 billion, making him one of the world’s 25 richest people. Felix Salmon summarizes:...
From a fascinating paper by Oli Coibion, Yuriy Gorodnichenko and Michael Weber, “The Upcoming Trump Tariffs: What Americans Expect and How They Are Responding“: As the Trump inauguration looms, the prospect of new tariffs on our trading partners grows ever...
That’s my name for Trump’s 10% universal tariffs plan augmented with additional 60% on Chinese imports. h/t to Torsten Slok for the CBO letter. I show implied effects on PCE deflator inflation, and GDP relative to January 2025 CBO projection....
Bird Song of the Day Patient readers, this Water Cooler is a bit abbreviated, because I need to hustle along and post on Trump’s memecoin (! (and Melania’s (!!))). –lambert Brown Thrasher, Rondeau PP–South Point Trail East, Chatham-Kent, Ontario, Canada....
