This is real

Always hugely insightful to listen to Helen Thompson.

It’s insane this is legal. People around Trump are profiting off war and death. I’m introducing legislation ASAP to ban this.

A chart of housing starts from 1860 to 2026

Why are house prices / rents so high? Not enough supply. Two lost decades after 2006 - we are now barely back to the average level of housing starts prevailing in the 1960s-1970s when the population was ≈ 1/2 the current size and household sizes were much higher.
H/t @calculatedrisk.bsky.social

463,000 workers unionized in 2025 | AFL-CIO

Prices are up on rent, groceries, utilities and more. Working families are fighting for scraps while billionaires and giant corporations are getting even richer.

America’s unions are growing because working people are hungry to take back their power and balance the scales.

Trump's Dollar | Steffen Murau Calls to weaken the dollar have become a feature of Trump's second term. But in today's credit-based system, where the US currency is often created offshore, nativist politics cannot be translated int...

New essay by @steffenmurau.bsky.social on Trump admin's misunderstanding of dollar hegemony—and four possible futures for the international monetary system. 1/

www.phenomenalworld.org/analysis/tru...

Was sagt es eigentlich über uns als Deutsche und als Europäer, dass wir es zulassen, dass die Menschen in der Ukraine von Putin in Kälte und Dunkelheit gebombt werden? Wir loben nur die Ukrainer für ihre "Resilienz" und machen große Worte. Ein Armutszeugnis für Europa.

Some Europeans have still not caught up to a world profoundly shaped by Chinas industrial policy.

A lot of hard pushback on targeted buy-European because it would reduce European competitiveness and product quality.

Reality, created by China, would disagree.

1/

Once more tapping the sign saying: homes are not ATMs, not a financial asset (they cost you $ in upkeep and taxes), are pro cyclic...
🌮 basically saying fuck you to Gen Z and younger millennials. 1/5 aged 25-34 still living in parents’ home.

A paradigm case of populism. Promise sellers that prices will go up, and buyers that they will go down.

I think part of the reason everyone is so blown away by this Carney speech is it's so long since we heard an actual grown-up articulate serious thoughts about the world. Empty vessels have been making a lot of noise

*DANISH PENSION FUND AKADEMIKERPENSION TO EXIT US TREASURIES

This is stunning. An open attack on central bank independence, and a central banker who'll fight it till the bitter end.

China’s Trade Surplus, Part II How the surplus is achieved, and why it’s a problem

1/14
Unfortunately I don't subscribe to Krugman's substack, so I cannot comment on the whole article, but I can say that the first few paragraphs lay out the issue very accurately and with commendable simplicity. He certainly understands the main issues.
open.substack.com/pub/paulkrug...

Das ist ein wirklich schöner und überraschender Thread:

Stromausfall, Restaurants und Supermärkte etc. können den Inhalt ihrer Kühlschränke entsorgen. 35.000 Haushalte sitzen im Kalten und Dunkeln. Herzlichen Glückwunsch, ihr habt der Energielobby richtig eins mitgegeben. Ab morgen geht bestimmt ganz Berlin auf die Straße für euer Anliegen! 2/2

German exporters face prolonged slump in key U.S., China markets German exporters should prepare for continued weakness in 2026 in their two largest markets, the United States and China, with little prospect of recovery, the BGA trade association said on Friday.

1/3
Reuters: "German exporters should prepare for continued weakness in 2026 in their two largest markets, the United States and China, with little prospect of recovery."
www.reuters.com/world/china/...

Venezuela Is a Gift to Putin and a harbinger of more Russian aggression in Europe

@seva.bsky.social is, of course, correct. Venezuela was a pre-arranged gift to (or from) Putin; Cuba is next. The spheres of influence and control are back. Yalta without the spectacle of Yalta.

That’s why HAVN designed the EMF-blocking beanie. Powered by our proprietary WaveStopper™ Technology, it forms a barrier that blocks over 99% of WiFi, 5G, and Bluetooth radiation right where it matters most: your brain.

They gentrified the tinfoil hat

2/2
It is too early to say if the recent decline in the US trade deficit will persist, but if it does, without an equivalent reduction in the Chinese trade surplus global trade tensions will only get much worse, making it harder than ever for the trade deal to be signed.

The 2025 Headline of the Year Nominees

🧵

The story of capitalism, as told by its critics Quickly and easily listen to The Rhodes Center Podcast with Mark Blyth for free!

For your weekend listening pleasure, it's me and @johncassidysays.bsky.social talking about his belter of a book Capitalism and its Critics: player.captivate.fm/episode/b858...

Do it. And then get the book.

Good piece from Pettis. Europe has to make a move.

Intervening on the euro is impossible as the ECB would never do so. It could also stoke a currency war, as China already intervenes heavily and Trump in some ways has lowered the USD exchange rate - on purpose or as a side effect.

1/

Explaining the other day that the moral puzzle about universal health care is not why poor people get it, but why richer people do. The answer from Beveridge, the Liberal (not Socialist) who recommended the NHS is economic efficiency. Universal healthcare removes huge transaction costs.

parks Y @parkersity_9 Without naming your job, tell me something you say 20 times per day at work

“That sounds illegal”

Martin Hikel : Neukölln stellt die Schicksalsfrage der linken Mitte Die SPD stellt den beliebten Bürgermeister in dem Berliner Bezirk – und sägt ihn ab. Was sich an diesem Vorgang über die Sozialdemokratie lernen lässt.

Das ist ein sehr lustiger und sehr tragischer Text von @bertpsch.bsky.social über die Vorgänge rund um den Neuköllner Bürgermeister Martin Hikel und die politische Linke allgemein

www.zeit.de/2025/48/mart...

Opinion | How the Elite Behave When No One Is Watching: Inside the Epstein Emails

Absolutely gross. @anandwrites.bsky.social nails the semiotics of intra-elite back scratching from the Epstein emails. “This is what these powerful people…were thinking and doing —taking care of one another instead of the general welfare — before it got really bad.”

Runaway Short-Termism | Susannah Glickman, Nic Johnson Since retaking the presidency in January, Donald Trump has initiated a blitz of chaotic, damaging economic policies. For months, as Nic Johnson wrote in

new interview !
www.nybooks.com/online/2025/...

We'll have to go back to studying history and institutions don't we. Even elites, Lord help us. Like in the Dark Ages.

The Shepmates covering this asap