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billadamsecon.bsky.social
Chief Economist, Comerica Bank. Opinions & investment advice are specifically for Aunt Sharon, not you. Failed baritone, lapsed UU, peaked in high school, here for finsky and lols
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www.bloomberg.com/news/feature...

Cool graph. If you had asked me, I would not have correctly predicted that the slope was steepest for Latin America

Good grief

About 6.5 years ago, I found this music in a manuscript no one much cared about because it was mostly anonymous. But when I transcribed it, I wept. Eventually, I attributed it to Antoine Brumel and then it became an important discovery. It was always important to me. www.youtube.com/watch?v=kl-J...

Which Easter candies are kosher for passover?

It's been a rough two and a half years for we sticklers for detail

it's a pinned post for a reason

I'll be streaming a conversation with clients, colleagues, and whoever else dials in on LinkedIn Live in half an hour, covering the usual suspects: Tariffs, recession, bear markets, Treasury yields, safe haven status of dollar, etc etc

My milquetoast take is that there is still a path for the US to avoid recession but it narrows by the day. There are less bad and more bad explanations for why Treasury yields are up today, but lots of people in the industry will be grimly ruminating about that British lettuce.

tfw finance professors are asking "dude what is going on" Remembering grad school in '07, watching CNBC in the student Union, and seeing the professor who taught the PE class standing next to me with his jaw on the floor

I think people reeeeealllly overestimate the role of trade and industrial policy in US dominance of heavy industry in the 1950s and really underestimate the importance of having dropped high explosives on every facility in Japan or Germany capable of manufacturing a ball bearing

A Saturday thought: Maybe the president is a true believer in high tariffs. Or maybe he thinks he can jawbone down the stock market, corral the Fed into cutting rates, then juice the market with tax cuts in time for the midterms. You end up with a very different forecast assuming one vs the other.

I've never been a New Yorker but I almost died on the subway once. I was on a trip with my preschooler and scolded her to stop singing and sit down. She paused her dance, locked eyes with me, and licked the nearest stanchion. Nearly had a stroke

Black hole sun won't you Set by 5:15 I need to get To bed

The job market was fine in March but that seems almost irrelevant with the stock market puking out a year's gains in two days. The wealthy consumers who kept the economy afloat during high inflation won't feel comfortable spending if things stay on this track.

oof Jesus Christ

One of the lessons of the pandemic era supply chain turmoil was that supply chains are complex and it's difficult to find domestic substitutes for components or inputs when international trade is suddenly disrupted

Whoa. So cool.

Got a laugh out of a coworker today by kicking off our meeting with a huge exasperated sigh

Consumers are spooked by headlines about higher tariffs and trade war, DOGE cuts, and the stock market selloff. www.washingtonpost.com/business/202...

I like eazy cheese, but why did we stop there? What other foods can be canned and aerosolized? We're missing out on a lot. I'm hoping for a future with Easy Sardines.

I was on @marketplace.org tonight talking with Mitchell Hartman about the bad vibes in the latest consumer survey. Consumers have cried wolf about the economy quite a few times in the last few years, but this feels different to me: www.marketplace.org/2025/03/25/c...

@jeremydenk.bsky.social is on BlueSky!

Hide in a stranger's basement and eat only things you take while they're asleep cleanse

Gardening can be intimidating. For a low-effort, high-reward start, try planting chives. They are perennial, so you just plant them once and they come back every year. And they're one of the first herbs to poke their heads up in the spring. They make potato dishes and soups and such taste fresh.

In China they’re called 民主党派

To my mind the most important part of the execrable Michigan consumer survey is that unemployment rate expectations are the most pessimistic since 2009. People who are afraid of losing their jobs aren't buying houses or cars, aren't going on vacation, aren't going out to eat. Bad, bad news.

Incredible scenes for people who started careers in markets around the Eurozone debt crisis *GREECE RAISED TO INVESTMENT GRADE BY MOODY’S, OUTLOOK STABLE

To my mind the most important part of the execrable Michigan consumer survey is that unemployment rate expectations are the most pessimistic since 2009. People who are afraid of losing their jobs aren't buying houses or cars, aren't going on vacation, aren't going out to eat. Bad, bad news.

‼️ THE COVID HOMICIDE WAVE HAS OFFICIALLY ENDED (at least in cities) ‼️ The quietly-released Major Cities Chief Assn violent crime data showed homicides fell by ~17%, to levels below those in 2020; higher still than 2019 (w 2 fewer agencies reporting), but lower than 2016 and 2017. This is BIG NEWS!

charlie_lucy_football.gif

@bloomberg.com is this Markets, Rocked by Trump, Show Economic Fear Across Wall Street, or Markets Rocked by Trump Show, Economic Fear Across Wall Street? Works either way I suppose, well done folks

The path of policy is cloudy, and so the economy’s path is cloudy, too. If the government stays the course on tariffs and spending cuts, those policies would continue to weigh on job creation in the next few months, likely pushing the unemployment rate higher still www.bloomberg.com/news/article...

ah yes the gold nonstandard approach

Job losses in industries with lots of hourly workers like retail, hospitality, and temp jobs, and federal cuts clearly understanding the hit. Unemployment rate would have been higher without the drop in participation. I'd be worried if I weren't assuming that policy pivots soon.

want to feel old? this is caillou today

I've often not-quite-joked that the @beijingair Twitter account, which was plausibly a key contributor to higher Chinese citizen consciousness of PM2.5 and demands for better Chinese data, was the best piece of US public diplomacy ever in China.

folks if you aren’t planning on retiring anytime soon it is okay not to check your 401K for a while

Americans responded (sharply!) to the Trump tariffs *before* they were even imposed. They imported extra stuff in December and January, rather than waiting and paying the higher prices that would occur when he was in office .