This is I think part of a bigger story. The basic psychology behind it is everyone wants to work and produce goods and services. No one wants to consume them. Until now this has worked because the US was the exception. But if they tire of consuming goods and services something big has to change

yes

No need to ask, he’s a Smoot operator.

Europe tries to fix its plumbing — and leave Starlink behind [FREE TO READ] Many governments outside the US do not want to rely on Elon Musk’s satellite company

My Trade Secrets today. The EU’s rushing to build a Starlink alternative, not just for Ukraine but economic security.

It will cost tens of billions, but as the price of preserving world trade it’s an insurance premium well worth paying.

First 300 clicks free.

on.ft.com/4igLboQ

Yeah agree. Just waiting for one of my personal white whales—The LHS of the $ smile turning out to be Maginot Line of Global Macro.

almost dropped the twitter sub for you, iyer :)

@iyerc.bsky.social left the other site?

shameful

Die Hard is indeed a Christmas movie, but It’s a Wonderful Life is a Financial Stability movie and A Christmas Story is a film about Reflationary Military Keynesianism.

@ejenk.com i think

need to keep eyes on you

maqsad na bhoole

or when i miss @smtuffy.bsky.social’s finreg memes

sometimes when i get bored of the other app

Breaking news: Syrian rebels have seized Damascus and toppled the Assad dynasty www.ft.com/content/a953...

and it’s totally unwarranted at this point

it doesn’t make any sense to me tbh

market so boring today that i had to open this app

We’re all suffering from qualitynesia now Borne along on the tide of technology, it is far too easy to forget that some things really were better quality in the past

We’re all suffering from qualitynesia now. Enjoyed this. on.ft.com/49lFF0c

i’m mostly in lurking mode

Bessent: Strong dollar, tariffs can wield US power on world stage Trump's nomination for Treasury secretary has the support of Wall Street and a hawkish view of macro economics

Here's a take that seeks to explain a Vance/Bessent divide on dollar centrality by linking it to the latter's preference for using a combination of military strength, $ centrality, and market size all at once to further both economic and geopolitical goals.

responsiblestatecraft.org/scott-bessent/

Very interesting from @swaraj.bsky.social: cash transfer programs to women have really taken off across Indian states; ~1% of state GDP and 5-7% of spending in the top ones.

They boost income substantially for recipients (5-40%), and are expected to increase consumption a lot as well

I’m don’t get the saying “have your cake and eat it too.”

The whole value of a cake comes from eating it. What would be the point of just having a cake but not consuming? This is just one good compound thing, not some greedy concatenation of two separate items.

social media

i’m the prominent media memer. please follow me y’all

I steal your burger tweets tho

this intro slaps

So chaos scenario. Mass deportations create huge labour imbalance. Fed starts hiking again. Trump appoints lacky as new chair. Powell stays on as part of the Board. Civil war within FOMC. Fed funds and IoER diverge, as different factions push the policy levers they control in different directions. 🤣

Hey, how would you trade the currency of a country where the incoming government could blow out the fiscal deficit, impose massive tariffs to support import-substitution, and maybe jawbone the central bank into easier monetary policy than might be cyclically appropriate?

Hmm. It depends, I guess.