Bombing the Middle East Hurts Rate‑cut Hopes
"If what you want is rate cuts, here's the thing you don't do. You don't go and bomb a country in the Middle East upsetting global energy markets and pushing prices up across the board." https://t.co/EX3rQJlWlo
Gas Tax Holiday Likely Boosts Oil Profits, Not Relief
A gas tax holiday in response to the Iran War is a good idea in the same way that subsidizing showers is a smart response to a drought. Come for the frustration, stay for the insight that this idea may...
Inflation Stays Above 2%, Validating Fed’s Firming Warning
Worth juxtaposing the latest Fed minutes with the subsequent inflation data Fed: “A majority of participants highlighted… that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%” Inflation data: https://t.co/d3UCcBz0os
Key Takeaways From a Week of Economic News
Feeling overwhelmed by the constant churn of economic news and data? @AliVelshi and I discussed what you really need to know from a pretty full week. Catch up here: https://t.co/OOawRebatN
Consumer Sentiment Hits 75-Year Low, Partisanship Skews Surveys
Consumer sentiment is near a 75-year low. But increasingly, these surveys may be measuring partisanship as much as economics. In other words, they may be asking “Do you like the president?” as much as “Do you like the economy?” https://t.co/jsDldxN9Hw
AI May Spark Industrial‑Revolution‑Scale Economic Restructuring
The striking claim here isn’t just that AI is useful. It’s that it may be ‘industrial revolution’ scale. If that’s even half right, the issue isn’t one occupation. It’s how work gets reorganized across the economy. https://t.co/RFB6CiU21U
Inflation Surges Above Expectations in Latest Report
Latest inflation report just dropped, and it came in hot, and slightly hotter than most folks expected. https://t.co/TTvmbXLQ8r
When Price Wars End, Brands Fight with Hype
When luxury brands can't cut prices, competition doesn't disappear — it just moves. More celebrity dressing, bigger flagship stores, splashier fashion shows. Sound familiar? It's the same reason your realtor spends more time on Instagram than selling houses. https://t.co/1zY1vkPDvT
Met Gala Sells Status, Not the Dinner
In English: the Met Gala isn't selling dinners. It's selling association. With a museum, with celebrities, with taste, with status. The meal is incidental; the signaling is the product. https://t.co/NTB0RbMpY9
Public Debt Mirrors Mortgages When Funding Income‑Boosting Assets
A mortgage is usually manageable because there's an asset attached: a home. Public debt can work the same way if it finances investments that raise future incomes.
Debt Is Fine with Assets, Dangerous as Credit‑card Bill
The national debt is like a mortgage — not the problem, as long as there's a beautiful house attached to it. The worry is when it starts looking more like a credit card bill. https://t.co/RyhRr47GOI
White House Understates Iran War Cost, Families Face Thousands
My latest @NYTimes oped shows that the White House is dramatically understating the cost of the war in Iran. By my calculations—and I show my work—it will cost the typical American family thousands, and it could cost them tens of...
Tariffs Harm Economy and Violate Legal Authority
Two things can be true at once: tariffs can be bad economics and bad law. Taxing imports raises costs for Americans; doing it without proper authority also trashes the rules. https://t.co/IIdLA6tjrl
Platypus Economics Hits Substack's New Bestseller List
Love to see it. Absolutely love it. Platypus Economics launches at the top of Substack's "New Bestseller" list. Come join us! Apparently all the cool kids are doing it: https://t.co/2QEpMRPmd8 https://t.co/XGzaSzbJJb
Payrolls Beat Forecasts, Unemployment Steady at 4.3%
A good news jobs report: Payrolls grew +115k (beating expectations of 55k), and the unemployment rate was unchanged at 4.3%. Revisions a bit negative: Feb revised down -23k, and March revised up +7k. Over the past 3 months we're creating +48k...