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retepelyod.bsky.social
Global macroeconomics/politics/agency/warming. Here to talk straight, not to stroke egos. NIESR visitor. https://www.youtube.com/watch?v=DJo_fs15aE8
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If there’s any truth to this, it will only hold if Trump has read Netanyahu the riot act — threatened to withhold further military/intelligence support unless Netanyahu complies.

… finally Ben Rhodes raises this possibility …

So just as the US Media missed the importance of the word “within” in Trump’s warning message … ... so now it is ignoring the possibility that the attack on Qatar is not a “de-escalation” response but is a decoy to look like that … pending …

File under: Whatever has just happened is an urgent opportunity for Europe to integrate more deeply … followed by a jumble of jargon which no-one understands and no mention of widely divergent public debt profiles.

Historical echo: GW Bush “Mission Accomplished”

Could the US have appointed a more clueless quartet to lead its diplomatic, defensive, and offensive activities ?

So he decided not to wait … fatally impetuous ?

Ever malleable Tulsi.

In WWs I & 2, by accident rather than design, the US delayed entry until both sides had all but exhausted themselves, with the outcome in the balance. So US intervention at least cost was decisive both times. Trump has the option to do the same with Israel/Iran in a matter of weeks.

The British manifestation of White Christian Nationalism—concealed under scones, red buses, and royalty but which historically spawned the most vile offshoots worldwide notably in Africa and the New World—returns to its core.

He also expected (nay shrieked) … oh never mind.

1/3 Striking that the philosophical/religious authorities quoted never pose the issue as a tradeoff—between autarky and wealth. & to strip the latter of its pejoratives, should a self sufficient entity facing a famine still abjure trade in view of autarky’s inherent(?) virtues? Only Ghandi here ..

‘twas ever thus.

Opinion polls before the Civil Rights Movement got whitewashed by America’s “perfecting union” narrative.

This is serious, rigorous analysis and it should change the way the media has been covering these protests. These were, in the aggregate, *massive.*

Fathers’ Day.

Your occasional reminder that the decisive shift that caused Harris to lose was the shift of white women from Biden to Trump.

Voting with feet …. contrast with July 4 …

With Netanyahu now engaging in open warfare directly with Iran, the old saying “Those who don’t study history are condemned to repeat it” requires an addendum: “And those who really study history are helpless to stop it.”

This last point is absolutely fundamental. The focus of economists on “our” sovereign—which I date from Keynes—and not on the global good means that much of the global profession advocates suboptimal policy. Even the IFIs ignore their global mandate in favor of their biggest shareholders.

… who, alone among his comrades, did not applaud at the Fort Bragg etc renaming … my hero !

See my previous skualk

There are good reasons why democracies think VERY hard about major concentrations of military force in their capital cities, especially in times of political stress. And the concerns have nothing to do with waste and potholes.

Why “damaging” and not “hilarious” or “infantile” or “revealing” ?

Yesterday’s US payrolls got markets excited about unexpected resilience. Fools. African-American participation rates have been on a sustained downward trend, and moreso recently, & esp in May. Unless thats just white preference in hiring great again, the US labor market is weakening markedly.

Taking down such statues, which curate and whitewash history, is so “controversial” b.c. the curated & whitewashed version of history they represent is so deeply embedded in national identity—partly because of the antiquity of the statues themselves. A deep infection, to be cleansed.

At least they agreed on White South Africans being global priority refugees.

DEI

Simon says he is “disappointed” at the IMF. That is far too kind. If the IMF is not insisting on best practice macro on such a core matter—as it evidently is not—what is it doing ?

No. The US fiscal system requires a Federal debt limit in some form b.c. revenue and spending decisions at Federal level are made separately from each other, subject to very different politics from one another. The BBB (if it happens) doesn't change that structural feature because it is a one-off.

If only …

The 1 month trimmed mean PCE is decidedly not heading to 2. Policy chaos reflected in a weakening currency and tariff mayhem will do that.

Why is the assumption that sub-saharan Africa is a coherent aggregate not checked? This data set is rich enough to test at least cross country parameter constancy, but it is not done nor explained away. Poor show.

Oh dear. El-Erian may rate Stan’s communication skills. But they were so bad with the media that for years (perhaps still?) an interview he gave was in the IMF staff training communications course demonstrating exactly how NOT to engage with the media. Stan had many many other strengths.

Im very sad indeed to learn this news. Over a decade ago, I wrote an appreciation of him. on.ft.com/43HwZPF

The ethics of this kind of RCT, let alone the non-robustness, absolutely stink. Would you let your marriage be toyed with like this ?

All revolutions eat their parents.

In can think of only one: when the founding fathers, people-owners all, declared they were striking out for Liberty.

Has there ever been a greater political fraud on the US than “The Art of the Deal”?

Correction: Musk steps up from Trump administration.