* Trump Family Amasses $6 Billion Fortune After Crypto Launch @wsj.com
* Trump Family Amasses $6 Billion Fortune After Crypto Launch @wsj.com
“At Goodwill of North Georgia, the number of Black people who for the first time ask for help finding work is up 41% over the past three months, compared with a 23% increase in the number of new white job seekers.” www.wsj.com/economy/jobs...
every single *former* Fed official I have heard talk this week says the Fed is under attack. Esther George. www.youtube.com/watch?v=mGk3...
APOLLO: “.. Will We See a Repeat of 2021 and the 1970s? .. There is upside pressure on inflation and inflation expectations .. The risks are rising that we could see another ‘inflation mountain’ emerge over the coming months.”
The Deere layoffs this week. The Caterpillar warning about tariffs. Just the beginning. @bloomberg.com $CAT $DE @scottlincicome.bsky.social www.bloomberg.com/news/article...
Network of hospitals and cancer centers halt enrollment in clinical trials for children with brain cancer after the federal government said it will no longer provide funding . www.nytimes.com/2025/08/28/w...
Team Trump is purposefully raising your electricity prices, hoping you’ll be mad at your electric utility and not blame them. The benefit to them is extra dollars for their greedy fossil fuel donors. Here’s how it works.🧵
“.. Kennedy was acting bizarre, saying he can tell as he walks past children if they are dealing with “mitochondrial challenges” .. Can he mysteriously divine illnesses just by looking? “Our health secretary is a certified quack.” @nytopinion.nytimes.com www.nytimes.com/2025/08/30/o...
And so it begins.....
Page One in Raleigh: #SNAP
Every time I see a post by the heavies on Wall Street, I ask myself if these are the same guys that got hit head-on by a freight train in 2008-2009.
Fed gotta cut. 🤡 @mikezaccardi.bsky.social
What a cursed sentence (gift link) “The A.I. companies selected to oversee the program would have a strong financial incentive to deny claims. Medicare plans to pay them a share of the savings generated from rejections.”
WSJ Page One: @wsj.com www.wsj.com/business/ret...
Where are the bond market vigilantes? I get asked this all the time on the US given all the pressure on the Fed. Here's the thing. The vigilantes are out there, it's just that there's so many trouble spots (France, UK, Japan, Italy) that the US still looks good on a relative basis...
I appreciate your posts, Mark. Thought provoking , civil and professional.
* TRUMP REVOKES KAMALA HARRIS' SECRET SERVICE PROTECTION -- CNN @reuters.com
> @barchart.com
U.S. companies have an unwelcome message for inflation-weary consumers: Prices are going up
However evil you think this is, it’s worse: “The A.I. companies selected to oversee the program would have a strong financial incentive to deny claims. Medicare plans to pay them a share of the savings generated from rejections.”
Trump famously compared America to a department store where he gets to set the prices. In my latest for @nytopinion.nytimes.com, I explain why that’s a terrible idea. www.nytimes.com/2025/08/28/o...
things you don't ever expect to see in print "It is unusual for federal border agents to make arrests during the fighting of an active fire, especially in a remote area." www.seattletimes.com/seattle-news...
A compromised president who serves his master Putin. MAGA www.washingtonpost.com/national-sec...
RFK Jr is the proud leader of the Center for Disease Creation.
Dr. William Foege, 89, who helped end smallpox in the 1970s, recently wrote: RFK Jr.’s “words can be as lethal as the smallpox virus.” And his actions are more lethal still. He’s waging war on America. That’s an impeachable offense. He must be removed from office. www.nytimes.com/2025/08/27/h...
It's time to remove Robert F. Kennedy Jr from government before he kills us all
No-one knows how this ends. And so the narrative shifts from pointless tariff uncertainty to pointless monetary uncertainty, and none of this helps the American people.
The Fed fights back.
Page One. @miamiherald.com
“.. the deflationary slump seems to be over. The bad news is that inflation is back. Core Japanese inflation.. is now higher than in the US for the first time in 48 years .. “.. Could this cause problems for the rest of the world? Yes, it very much could.” @johnauthers.bsky.social
B of A DESK: “.. Average Sept returns for the S&P500 over the past ~100 years are -1.17%. .. Take a look at the anatomy of September price action. It’s pretty much a swoon from the get-go.”
Just a matter of time until the return of Trump Steaks. 🥩 @barchart.com
Three geriatric Stooges.
Page One in Boise.
The most important cases are yet to come. But this doesn't bode well for Roberts' legacy. 1/2 www.theguardian.com/us-news/ng-i...
www.insurancebusinessmag.com/us/news/envi...
Beef prices are up. Coffee prices are up. And now you have to worry about veggie prices skyrocketing. Why? Donald Trump’s chaotic tariffs.
chat is this good
To assess the impact of Trump economic policy, you need to look at the whole board The Trump view underestimates: * The benefits the US received from its postwar order * The costs the US suffers by switching its role * The room for others to opt out youtube.com/clip/Ugkx1Ue...
The BRICS are now trading more with one another than with America, and the gap is widening. China might be the biggest winner from Donald Trump’s reshaping of global commerce
*insert clown emoji here* 🤡
“Would have never happened if I were President.”
Year-on-year core PPI: “.. In the last 10 years, only April 2021 had a bigger jump.” @mikezaccardi.bsky.social
AUGUR: “.. US equities have underperformed the rest of the world by over 10 percentage points year-to-date. This is the worst underperformance since 2009.” @mikezaccardi.bsky.social
from stop the count of votes to stop the count of jobs …
MET LIFE: Here’s a chart of the % of CEO’s who expect to reduce their workforce over the short- and medium-term. “.. Either this chart will be realized and labor demand will continue to fall or this chart will not be realized and expected margins are not attainable.”
Guy who hates accurate job counts also hates accurate vote counts
This is A+ trolling
Canada imports more cars from Mexico than from the US for the first time
I don’t think I have ever publicly criticized any Presidential nominee before. But E.J. Antoni is completely unqualified to be BLS Commissioner. He is an extreme partisan and does not have any relevant expertise. He would be a break from decades of nonpartisan technocrats.
Leavitt confirms that monthly jobs reports may be suspended "until they can get the data and methodology in order"
Maybe he’s giving it back tho…
This is exactly why Dems get their ass handed to them by Trump's world. They have no clue how to leverage social media algos to their advantage. open.substack.com/pub/weaponiz...
* Ralph Lauren yesterday. $RL * UnderArmour today. $UAA Retailers aren’t escaping the tariff pain.
Why Bill Ackman and John Paulson supported Donald Trump:
Note to Kristi Noem: It is far better to be mocked in a cartoon for how you look than to be shoved into the back of a U-Haul and kidnapped for how you look.
Looks like someone's lawyers have given him a frighteningly bad outlook for his case:
🤡 @nikkei.com asia.nikkei.com/economy/trad...
“.. Economic activity tied to manufacturing has shrunk for most of Trump’s second term.” @wsj.com www.wsj.com/economy/trum...
Says Moore, the man who failed to pay his taxes , failed to appear at a deposition related to his divorce and failed to make child support payments. Moore fits right in with MAGA and their Overlord , Trump.
The Department of Justice hired a former Jan. 6 defendant who was caught on tape urging rioters to "kill" police. The department calls him a "valued member" of the administration.
IMHO - exact reason why Waller is on the board but, unlikely to take the leadership position.
International Trade 101. @atrupar.com
Probably nothing. 🤡
Last week: P&G CFO: "We see consumption trends consistently deteriorating." $PG This week: McDonalds CEO: ".. traffic in the US remained challenging as visits across the industry by low income consumers once again declined by double digits versus the prior year period." $MCD
Gavin Newsom, the governor of California, thinks that Democrats could fight Republicans to a gerrymandering draw. Our analysis shows how this could happen
There were five murders in central Texas in the last week. When do we federalize Texas?
Page One in Dallas @dallasnews.com @apnews.com
Kernan is a 🤡. Joe is a Trump sycophant, but will give him credit for pushing back on Trump, something Joe typically does not do. Joe has madeSquawk Box unwatchable.
Here’s how the Texas GOP wants to redraw congressional maps. They’d secure 5 more districts, taking 3 blue ones and 2 purple ones.
A couple of good reads…Trump and his cronies are clueless about how the economy works.
Kernen has single handedly made Squawk Box unwatchable, with his shameless promotion of Trump. Very little analysis by the talking heads and more about promoting Trump’s lies.
Trump’s economic ignorance never fails to astound. I break down some of his most egregious errors in my latest for @nytopinion.nytimes.com www.nytimes.com/2025/08/04/o...
Thanks for the shameless self promotion, Ray. Many respected scholars and practitioners have noted revision are common; so how did Ray manage so well in the past. So, exemplary leadership is terminating the leader of a department with no plan in place?
“.. S&P analyst Tom Libby called it ‘unprecedented’ to see the runaway leader in customer loyalty fall so quickly .. “.. ‘I’ve never seen this rapid of a decline in such a short period of time,’ he said.” @reuters.com $TSLA www.reuters.com/business/aut...
“.. Within about three minutes of the crash, the Model S uploaded a “collision snapshot”—video, CAN‑bus streams, EDR data, etc.—to Tesla’s servers .. The vehicle then deleted its local copy, resulting in Tesla being the only entity having access.” @electrek.co $TSLA electrek.co/2025/08/04/t...
Nutlick, Bessent can’t be to far behind , spineless, bootlicking, Hassett.
Here's what I don't understand: On Nov 1, 2024, five days before Election Day, BLS said only 12,000 jobs were created in October. BLS announced an 818,000 reduction in the annual jobs numbers on Aug 21, not “days after the election.” Why didn't any pool reporter say “I’m sorry, sir, you're wrong?”
Can’t tax tips that don’t exist
“.. We have no interest in running a lower-margin business, particularly due to tariffs,” said the CFO. “And if this is something that’s going to be a permanent increase to our cost structure, we have to find a way to cover it.” @nytimes.com www.nytimes.com/2025/08/02/b...
“.. a week that bore many authoritarian hallmarks — purging dissenters, rewriting history, criminalizing opposition and demanding total institutional loyalty .. Vast swaths of society are falling in line ..” @axios.com www.axios.com/newsletters/...
Eight days ago:
“.. The defiance of Prime Minister Narendra Modi’s government reflected increasing frustration with a relationship that was once much praised but has been souring rapidly.” @nytimes.com www.nytimes.com/2025/08/02/w...
If the fuel gauge points to "E," ripping the needle off the dashboard does not fill the tank.
Trump gaslighting America. Headlines from her last public comment on July 17: *FED’S KUGLER:: APPROPRIATE TO HOLD RATES STEADY FOR SOME TIME *KUGLER: MANY REASONS TO EXPECT LARGER TARIFF IMPACT COMING *KUGLER: EXPECT ADDITIONAL PRICE INCREASES LATER IN THE YEAR
“Streisand Effect” in NYT, WaPo, Boston Globe, LA Times ..
When you’ve even lost O’Leary… And one observation: you don’t need to go back to Ancient Rome (as O’Leary does) to find analogues. There are much more recent cases of authoritarians axing (or even executing) statisticians when the numbers proved inconvenient. www.washingtonpost.com/opinions/int...
Trump is the damn dumbest person that has ever walked this earth.
Firing the BLS Commissioner — the wonk in charge of the statisticians who track economic reality — is an authoritarian four alarm fire. It will also backfire: You can't bend economic reality, but you can break the trust of markets. And biased data yields worse policy.
This is awful. Reliable economic data is a key strength of the US economy. When Argentina and Greece faked economic data it contributed to major crises. I don't think Trump will be able to fake the data given the procedures. But there is now a risk plus an awful appearance.
I’m going with, Lie.
Total ignorance. Or a lie. BLS revised the jobs numbers down on August 21, 2024, three months before the election.
I have a very hard time imagining Kennedy and Khrushchev facing off over Cuba on social media.
The “Golden Age” - slowing economy , horrible job market, nuclear war and a criminal enterprise running our government.
The jobs slowdown is here with 73K jobs in July & large downward revisions to May & June bringing the average to 35K/month. Not quite as bad as you might think because steady-state job growth is much lower in a low net immigration world but unemployment still gradually rising.
“.. Hard to overstate how bad this jobs report was.”
New tariff executive order just released, and the official start date for tariffs was pushed to next week from instead of tomorrow, but we're raising tariffs for roughly 68 countries plus the EU, with some tariffs now as high as 41%. Literally Liberation Day 2 Electric Boogaloo.
On a day when I put a potential argument from the administration to chair Powell — that perhaps the tariff situation was more certain so rates could be lowered —- the president threatens 50% tariffs on Brazil, placed 25% tariffs on India and ended the de minimis exemption. 1