Tariffs and US Dollar Depreciations: Not So Surprising After All
How conventional thinking on how the dollar would respond to Trump tariffs missed a key factor: retaliation.
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U.S. Utilities Put in a No-Win Position by Phantom Data Centers
AI players are gaming utilities, and creating high odd of bad outcomes for other customers, by making duplicate orders for power.
Read more...James Galbraith: Crash in Top Economist Hiring Contradicts Elite-Favoring “Skill Biased Technical Change” Theory
Contrary to some economists’models, salaries aren’t constantly reset based on skills or technology. They follow the economy and politics.
Read more...Trump’s Appellate Court Tariff Loss: It Isn’t Over Until the Fat Lady Sings
Trump is likely to win his retaliatory tariff battle at the Supreme Court and even if not, he’s too fond of this bludgeon to give it up.
Read more...Farcical Visions of Competitiveness in the EU
What will stop these maniacs first? A popular revolt putting them in padded cells or Russian strikes?
Read more...Michael Hudson: How Lenders Sought and Got Power in the Roman Era and Helped Legitimate Later Rentierism
Michael Hudson recaps the long history of limits on lenders’ rights for the benefit of society and how the Roman era was an inflection point
Read more...Trump’s Impact on the Financial Sector and Global Dollar System
A wide-ranging review of how unccordinated Trump policies undermine the dollar and the international banking system, and even each other.
Read more...Trump’s Intel Move Looks Like Performance, Not Policy
Yves here. It is remarkable how Trump seems to need to have his name in the hot lights, um, the headlines, all the time and is able to do so. Admittedly, liking bold gestures for their own sake, as opposed to whether they make any sense, helps by giving way more degrees of freedom. As […]
Read more...Trumpian Tariffs Rerun the Failed Strategy of Import Substitution Industrialization
Trump’s use of broad-based tariffs to promote industrialization have repeatedly failed. There’s no reason to expect different results now.
Read more...The New Currency War: US Stablecoin-China Digital Yuan Rivalry as a Test of Monetary Discipline
How the US stablecoin/digital yuan arms race creates instability risks and undermines monetary sovereignity around the world.
Read more...Jim Chanos on Crypto, AI, Dodgy Statistics, and Casino Capitalism
Chanos looks at a broad range of investment hot topics, from cypto to AI, and sees vastly more speculation than value creation
Read more...Trump’s Intel Deal: Knowing the Price of Everything, and the Value of Nothing
Why the Intel deal is a so far small negative for the chip-maker, but still gets Team Trump tar-babied to the low likelihood of a turnaround.
Read more...Powell Tap Dances on Interest Rate Outlook as Stagflation Starts to Kick In
Powell threw Mr. Market and Trump a bone by hinting the Fed might cut rates in Sept. But the Fed lacks good options with stagflation looming
Read more...Our Coming Arab Springs?
Resource stresses are rising in many parts of the world. How long before we see political ruptures, including on a Arab Spring level?
Read more...Lessons from China: Industrial Policy Works Even After Retaliation
A new study finds that industrial policy pays off, even after factoring in the cost of retaliation. So when will neoliberals wise up?
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