Exactly right.

Oil market verdict on Trump’s Iran War address:

We didn’t really learn anything more from Trump’s Iran War address, but those things he reaffirmed are likely going to continue driving crude prices higher:

- plans to achieve military targets in 2-3 weeks, which likely means further escalation

JPM: “.. Every day that this conflict persists brings us closer to the market being forced to consider the more negative implications for growth, which should ultimately push Treasury yields lower ..”

@bloomberg.com
www.bloomberg.com/news/article...

The most damaging episodes were the fatal shootings of Renee Good and Alex Pretti in Minneapolis, which Miller was at the center of. During his 10am calls with immigration leaders, Miller was demanding agents be sent out to areas in Minneapolis where DHS knew there was a heavy presence of protesters to 'force confrontations,' two DHS senior sources told the Daily Mail. One official noted that Miller repeatedly urged agents to engage protesters so the administration could win the 'PR battle.'

During Trump's massive immigration crackdown in in Los Angeles in June, the President spoke with top officials and told them to avoid targeting farm workers. The next day at 10am, Miller sent out different orders. 'Stephen got on the call the next day, and said "We're discussing that internally" and that we should just disregard what he said,' one official told the Daily Mail. 'It was like the President never said anything. It was just like Stephen was in charge.'

Attacks on Stephen Miller getting far more specific in this Daily Mail (why are the best right-on-right hitjobs always laundered thru the UK?).

1) He ordered confrontation w/protestors b4 CBP murdered Alex Pretti.
2) He countermanded Trump order not to focus on farmworkers.

Another week or two of the airport chaos and airports will effectively be shut down. Now with six hour TSA waits in Atlanta, there’s essentially no reason to fly unless you are going across country or internationally.

@andreforatlanta.com Have you thought of just shutting the Atlanta airport down until TSA funding is approved? We lived through airports closed after 9-11. It might accelerate a Congress willing to pay TSA and ending the crisis.

This is an effort to turn the Minnesota rapid responders into criminals. If Democrats make this deal, they will send me, and many others like me who have been out protecting the community, to jail.

The thing about people who show real political courage is that usually they wish they weren't in a position where they had to show political courage.

Monday - Send more troops
Tuesday - Say we’re ending war
Wednesday - Send more troops
Thursday - Say ending war
Friday - Send more troops
Saturday - Golf
Sunday - Golf

Just bad at shooting and running an offense and rebounding. Otherwise good.

Vietnam was extremely dumb and pointless and the reason to be there seemed even further removed from reality.

The court record shows that Judge Boasberg bent over backwards to allow Pirro and the DOJ to issue the subpoena to the fed. He asked multiple times for any evidence of wrongdoing by Powell, he Eeven offered to hold an in camera hearing to privately review the government’s evidence. 1/2

“.. One official said the Strait of Hormuz could become an Iranian ‘kill box’ if ships start trying to pass through.

@wsj.com
www.wsj.com/world/middle...

“ … a DOJ source told the Miami Herald that agents found her to be credible – and that they would not have interviewed her four times if they thought she was lying.”

“… the woman described how Epstein trafficked her to several men, including Trump, in the 1980s.”

Analysis Suggests School Was Hit Amid U.S. Strikes on Iranian Naval Base

U.S. forces likely bombed an Iranian elementary school on Feb. 28 during an operation targeting a nearby military base, a New York Times analysis suggests. It is the deadliest known episode of civilian casualties since the U.S. and Israel attacked Iran — and no side has yet taken responsibility.

Dreaming of a Blue Texas Will economic progress turn Texas progressive?

"What Texas does do right, however, is let businesses build stuff, especially housing, in stark contrast with the regulations and multiple veto points that strangle construction in many blue states."
--Paul Krugman open.substack.com/pub/paulkrug...

Really bad algorithms for news

Downloaded Claude app for the first time after Anthropic’s principled decision to not assist in domestic surveillance or unmonitored drones killing people. It’s pretty cool.

Bullard: As Powell Steps Down as Fed Chair, He May Stay on as Fed Board Governor Former St. Louis Fed President, Dean of Purdues's Mitch Daniels School of Business sees economic ground being laid for rate cut in second haf of year

Fed Chair Powell might stay on as a governor, Jim Bullard says via Kathleen Hays. Bullard is a keen observer of the Fed and very clued in, so it’s worth considering carefully.
open.substack.com/pub/kathleen...

Fed's Bostic: Political battles over Fed are undermining public trust Outgoing Atlanta Federal Reserve President Raphael Bostic said on Wednesday that the political battles around the Fed are undermining public confidence in the central bank's independence, a "major con...

Fed's Bostic in retirement letter: "The legal and rhetorical battles raging around the central bank right now have caused people across a wide cross-section of our population to begin to doubt the Fed’s independence. This is a major concern."

The NYT just confirmed the missing Epstein files and is treating this like a blockbuster story:

www.nytimes.com/2026/02/25/u...

Hassett apologizes for comments made on CNBC where he called for NY Fed researchers to be disciplined for their findings that 90% of tariffs are paid by the US businesses and consumers. 1/

RenMac:

NEC Director Kevin Hassett calls for @newyorkfed.org researchers to be "disciplined" for a study that shows US companies bear nearly 90% of the Trump tariff burden.
Indeed, the NY Fed conclusion differs from the Kiel Institute, which estimates 94%; and the CBO, which estimates 95%...

This is exactly right and a great thread. People don’t want to admit the economy and most Americans were doing well post Covid (and now as well) and that inflation has come down a lot, because it seems contrary to vibes or their political messaging. But the actual facts matter.

You wonder how some people can sleep at night. And if they can, how tiny their hearts must be.

In general, more transparency is better than less transparency— which is not to say communications can’t be improved.

There really needs to be extremely long sentences for murdering dogs. This from north Georgia.

Why should indexes treat this differently from any other high profile IPO?