Higher Corporate Taxes Raise Firm Financial Distress
New @nberpubs: "Taxes and Financial Distress: Evidence from Establishment-Level Data" https://t.co/bmsFoz4Ieb "higher corporate income tax rates significantly increase financial distress" https://t.co/QV2s48hK61
Study Finds No Health Risks Near Wind Turbines
New @nberpubs: "Wind Turbine Proximity and Health: Longitudinal Evidence from U.S. Households" https://t.co/u0x9T6P77L "we find no detectable adverse health effects from turbine exposure at typical exposure distances" https://t.co/WV08TAKYfS
Immigrant Enforcement Harms U.S. Workers, No Spillover Benefits
New @nberpubs: "Labor Market Impacts of ICE Activity in Trump 2.0" https://t.co/LiZXDgySdk "We find no evidence of positive spillover effects to U.S.-born workers and U.S.-born workers who work in immigrant-heavy sectors are harmed" 😲 https://t.co/XepXyVseyO
MLB's All‑Access Subscription Feels Like Joker Trap
I'm increasingly convinced MLB created this year's "all access" subscription system to turn me into The Joker https://t.co/ejXPFpQgLH
Debunking the China Shock 2.0 Hysteria
Easily the best and most comprehensive takedown of the current "China Shock 2.0" hysteria that I've seen so far. (tl;dr in the screenshots) Strongly recommended. "Should we be scared of China's surpluses?" https://t.co/RSBXkN5WX3 https://t.co/z6TS8YwaNV
Tariff Refund Quest Reveals Billions Likely Unrecoverable
"He recorded his quest for tariff refunds. It shows why billions may never get repaid" https://t.co/pbKa6Zq9Ev https://t.co/GekjOsX5QF
Rainy Day Review: Crime 101 Delivers Fun, Yet Implausible
Rainy day here at the SLAZ, so I watched CRIME 101. Good cast, good flick overall. A few ridiculous parts, however. For example, they wanted me to believe Chris Hemsworth got a prostitute and Hallie Berry was washed. LOL. Sure,...
Tariff Relief Boosts Newell Brands' Outlook Significantly
Protectionist darling Newell Brands, maker of Sharpie, says its outlook has improved significantly bc of... tariff relief and refunds https://t.co/R0c5C0lpQB https://t.co/T0NHveNICU
Neglected BlackBerry Still Powers Unexpectedly Many Users
Fantastic: "You Have No Idea How Much You Still Use BlackBerry" https://t.co/zggjTTvRVd? "For years, they benefited from a fantastic competitive advantage: complete and utter neglect." 🤣 https://t.co/lag7EKpOht
NY Second‑Home Tax Proposal Falters on Unclear Numbers
"Can a Second Home Tax Work in New York? The Numbers Don’t Add Up Yet." https://t.co/93zcA8JAPT https://t.co/le2hB4g5XI
Japan's $2.2B Pledge Dwarfed by $36B US
"Together, they total around $2.2 billion — far short of the $36 billion that the US expects Japan to invest for the first wave of the projects."
Government Overreach Undermines Spirit, Repeating False Threat Narrative
The government's unfortunate role in killing Spirit Airlines is surely noteworthy, but Spirit is really just the latest in a very long line of atrocious-in-retrospect government claims re: the supposed "threat" that "dominant" private companies present to US consumers: https://t.co/jCEilxJUjb
Rural Angst Spikes as Democrats Gain Iowa Foothold
"The ratings reflect rural America’s economic angst amid rising fuel, fertilizer and other prices after a year of depressed commodity trade following President Trump’s embrace of tariffs."
China Lifts Tariffs on All African Imports Except One
"China has now dropped tariffs on imports from every African country except 1" 😔 https://t.co/YKeyJNxXts
Tariff Flip-Flops Reveal Trump’s Policy Inconsistency
Yesterday, Trump lifted UK whiskey tariffs that were supposedly (by law) about a "balance of payments" crisis. Today, he's imposing EU automotive tariffs that were supposedly (by law) about "national security". It's all so manifestly ridiculous.
ISM Manufacturing Prices Surge to 2022 High
The ISM manufacturing prices sub-index is truly wild rn. From ISM's Chair: "In the last three months, the Prices Index has increased 25.6 percentage points to reach its highest level since April 2022 (84.6 percent)." The sector's shrugging it off...
USTR's Section 301 Roadmap Lacks Targeting and Metrics
"The road map the USTR has presented in the most important Section 301 investigation, looking into 'excess capacity' in other nations, is neither targeted nor aimed solely at abusive trade partners. It is also not based on any defensible metric"...
Cold Weather Slashes EV Range Up to 39%
"AAA has been testing exactly how big an effect temperatures have on modern EV batteries. In its latest research... it found that hot temperatures reduced range by an average of 8.5%. Cold weather cut vehicles' range by a whopping 39%."...
Strong Trade Ties Help Keep Nations at Peace
"economists have swooped in with a smattering of new studies arguing that yes, strong trade ties are pacifying." https://t.co/cBadyzUCSb https://t.co/h2JB5bvK4N
New US Aluminum Smelter Stalled by Power Deal
Oh: "America’s big new aluminum smelter is still waiting on a power deal" https://t.co/NPWJ41tJV8 https://t.co/2Ubxlr18FN
Most Tariff Refunds Won’t Reach Consumers or Small Businesses
My latest for @thedispatch examines the $166B in tariff refunds the US is processing - and who will win or lose. Spoiler: it's not terrible, but it's not great, especially for consumers, small biz, & taxpayers. "You (Probably) Won’t Get a...
Law Bars US Firms From Essential Trade, Forces Imports
Huh. So, basically, the law was blocking American companies from buying/selling an essential good and was forcing those buyers to instead rely on imports?!? Huh.
UK Whiskey Tariff Likely Violates Section 122 Rules
Two quick things: 1) We had free trade in whiskey/whisky before... 2025 2) Pretty sure this UK tariff is now under Section 122, which is supposedly needed for a "balance of payments" crisis and definitely wouldn't allow for this kind of carveout.
NYC Rent Control Changes Spawn Thousands of Second Homes
Relatively recent changes to NYC's rent control system likely led to thousands of rent-controlled second homes https://t.co/Ow8vHAm1rq
Red Lobster’s Endless Shrimp Worth Just 23 Pieces
Apparently, you only need to eat 23 shrimp to make Red Lobster’s revamped ‘Endless Shrimp’ deal worth the price. That's easy. I can eat 23 shrimp in my sleep. The real question: how many do I need to eat to bankrupt...
U.S. Debt Surpasses GDP for First Time Since 1946
The national debt just exceeded 100% of GDP for the first time since 1946: https://t.co/VSDBUUTaUH https://t.co/95ff7qRwJG
Tariff-Free Imports Power America's Rapid AI Growth
Imports - almost entirely tariff-free - continue to fuel the American AI boom (charts via @JosephPolitano): https://t.co/fidxVdkq7Q
White House, Populist Congress Fuel Housing Market Distortions
"the odd alliance between the White House and populist anti-market members of Congress has already been successful at introducing new growth-reducing distortions into the housing market before the bill has even reached the president’s desk" https://t.co/BxHCKGU25Q
Ingalls Shipyard Loses Workers to Local Service Jobs
"The [Ingalls] shipyard has also struggled to retain talent as it competes with the local service industry."
Limited JA Waiver Overused, Masking Need for More Ships
Yep. We're also told that more/cheaper ships aren't needed (bc of sufficient JA ships and rail/interstate alternatives), yet even this limited JA waiver has already been used dozens of times for short- and long-haul trips. It's all a smokescreen.
Texas Rents Fall Sharply as Supply Outpaces Demand
"Rents have declined across Texas due to excess rental property supply (Chart 1). The sharpest rent drops in the state have been in Austin, San Antonio and Dallas." https://t.co/O61kiuAhpW https://t.co/NMe2ewnoJQ
Infrastructure Funding Surge Masks Decline in Real Investment
New research from EPIC finds the IIJA's "historic" increase in federal spending on infrastructure coincided with a decline in actual, inflation-adjusted investment in US roads, bridges, transit, etc: https://t.co/RmpKAC3TAX
U.S. EV Policy Sparks New Rust Belt, Exposing Limits
"How U.S. Electric Vehicle Industrial Policy Created A New ‘Rust Belt’" https://t.co/dwciwwcJL7 "this phenomenon shows the inherent limitations of government-led industrial development" https://t.co/WYvR8iHxw4
Global Trade Grows by Shifting Partners Amid US Tariffs
"Despite tariffs, global trade keeps growing – just with new partners" https://t.co/BTzpU1aCMo "The US is a problem, but hey, let’s expand trade with each other and with the rest of the world... And this is exactly what we did.” https://t.co/RscZQUE96M
35% of US Tariffs Evaded in 2025, $107 B Lost
New report claims ~35% of US tariffs ($107B) were dodged in 2025: "the steep increase in tariffs and the on-again, off-again nature of the tariff rollout created incentive and opportunity for businesses to find ways to reduce their duty burden" https://t.co/d21nSCyckZ
US Firm Implants Brain Device in China, Rare Cooperation
"A US company has tested a brain implant in a Chinese patient in Shanghai, a rare sign of cooperation as the two countries compete to develop the most advanced neurotechnology." https://t.co/4xEs7DZTpk
Chinese Goods Rerouted Through Asia Dodge $40B US Tariffs
"Increased trade volumes from China to Mexico via intermediary Asian nations last year demonstrated a new path for US-bound goods that were able to avoid steep tariffs — an estimated $40 billion — on imports from China" More tariffs =...
Proposed Housing Investor Ban Halts Builders, Hurts Real People
The Senate-passed bill banning institutional housing investors isn't yet law but has already "stopped home builders in their tracks" by scaring off investors & lenders. An instant case study of bad policy harming real people, even when just for show 😡 https://t.co/h5oaq2IAYN...
Reshoring Index Stays Negative Despite Trump Tariff Surge
Kearney's annual Reshoring Index, which measures imports from 14 Asian countries as a share of US manufacturing output, "remained in negative territory in 2025 despite a surge of Trump administration tariffs aimed at reviving American assembly lines" https://t.co/AJkVit3Iwx https://t.co/r9GzEb8Wji
Higher Tariffs Drive Importers to Smuggle Plywood
"The Plywood Smuggling Ring That Ensnared a Building-Products Giant" https://t.co/jK6i2JcEW7 "The yearslong plywood smuggling saga shows the lengths to which some importers will go to skirt duties and tariffs" More tariffs = more evasion. https://t.co/t50j64SDNJ
Only $161 B Left to Refund Illegal Tariffs
Only $161B* in illegal tariffs left to refund**! *plus interest **assuming the government doesn't appeal before June 6
CBP's New Refund System Moves Fast, Yet Rejects Over Half
CBP just issued the first tariff refund update since its CAPE system went live on 4/20. Good news: They're moving pretty quickly (for the government) Bad news: There are already LOTS of rejections. The first screen rejected 37%, & the second screen...
US Net Worth Grew Despite Trade Deficits and Debt
"If trade deficits drain wealth from a country, Americans’ average real net worth would have fallen over the past half-century. Instead, even after accounting for growing government debt, it has risen significantly." 😮https://t.co/wSOVetCaRD https://t.co/XpLuGw8lgY
One‑Third of Texas Manufacturers Hurt by Iran War
New Dallas Fed survey of Texas manufacturers finds 34.8% of them have already been harmed by the Iran war, while only 11.1% have benefited. https://t.co/CsufgIXUuK https://t.co/BtxluTws5f
Getting Tariff Refunds: A Business Owner’s Frustrating Reality
"Diary of a business owner trying to get a tariff refund from the U.S. government" https://t.co/lmuiwxclqA "He kept thinking how easy it was to pay the tariffs. 'And now you're telling me if I want my money back, figure it...
US Export Growth Near Zero Excluding Re‑exports, Gold
Your Stat Of The Day, from @OxfordEconomics & @business: if you exclude re-exports and gold exports, both of which rose very sharply last year for non-trade reasons, US export growth "is close to zero." https://t.co/FWnMD6yRNM
Government Pressure Silences Crime Data, Stifles Realtor Transparency
"So without explicitly making such information illegal, the government created a legal and reputational climate that chilled its provision. Portals removed crime maps and realtors became reluctant to answer ordinary buyer questions" https://t.co/O1XRw7TUxi
Business Reimburses Customers, Battles Customs for Tariff Refund
"I paid my customers back for tariffs. My business has been on the phone with Customs trying to get our refund." https://t.co/Gs8WF3EUhk https://t.co/tau83RVVdI
Ford Ramps up US Production yet Still Hemorrhages Billions
"Ford Is Building More Cars in the U.S. Than Ever—But Still Losing Billions" https://t.co/6FpXn1NHjv https://t.co/dX4BPjDl07
White House Eyes Defense Production Act for Spirit Takeover
Sheer lunacy: "White House mulls using Defense Production Act in Spirit Airlines takeover" https://t.co/xHfxXgFtIF https://t.co/LzPhwvAMIU