Joey Politano🏳️‍🌈

@josephpolitano.bsky.social

Writing a data-driven newsletter about economics @ apricitas.io Nuance? In this Economy Full Employment Stan, Brazilian Coffee Tariff Victim |

NEW from me: The right says migrants are culturally incompatible with democracy. But those who choose to move to free states actually tend to be their biggest admirers I wrote about Justin Gest's new book on rising immigration from illiberal to liberal states www.theargumentmag.com/p/democracie...

Democracies attract immigrants who like democracy

What did you think "City upon a hill" meant? Vibes, papers, essays? Losers

theargumentmag.com

sorry but this is the most obviously entirely-AI-generated op-ed ever. It has an "it's not X, it's Y" construction in both the first 2 paragraphs. Pangram has it as 100% AI. One of the most prominent billionaires in finance submitted this? The WSJ allowed it to run? are there no standards anymore?

The Treasury Department announced on Aug. 19 that it would double the size of its long-dated bond buybacks, from $2 billion to at least $4 billion per operation, aimed at the 10- to 30-year sector and running from Sept. 9 through Nov. 4. The announcement came after the 30-year yield touched a 19-year high. Yields fell within minutes. By the next afternoon they had round-tripped to levels above where they started. The market’s verdict was swift and correct: This wasn’t liquidity management, it was price management—and a mistake far larger than $4 billion suggests.

Treasury’s announcement gave the game away. It justified the larger operations as liquidity support in sectors with “consistent strong sponsorship from market participants,” but strong sponsorship is the definition of a healthy, working market. There were no failed auctions, no dealer balance-sheet seizure, no forced unwinds, nothing resembling Treasurys in March 2020 or U.K. gilts in September 2022, the sort of genuine dysfunctional episodes that justify official action. Volatility was contained, and trading was orderly—not a malfunction but the machine doing its job.a screenshot of Pangram showing the article is 100% AI
Nick Timiraos@nicktimiraos.bsky.social · 6d ago

Stanley Druckenmiller renders an unfavorable opinion of Treasury Secretary Scott Bessent's use of buybacks to defend against higher yields in a market that is functioning normally. "Every basis point of artificial yield suppression is a subsidy to procrastination." www.wsj.com/opinion/let-...

It is February 2025. I am watching the US impose a bunch of stupid tariffs on Canada. It is March 2025. I am watching the US impose a bunch of stupid tariffs on Canada. It is July 2025. I am watching the US impose a bunch of stupid tariffs on Canada. It is August 2026. I am watching the US impose a

a picture of dr Manhattan sitting on Mars from Watchmen
Thomas Seal@twseal.bsky.social · last wk.

US-Canada Trade Talks Collapse, Triggering Trump’s 50% Tariffs (Bloomberg) -- An agreement between the US and Canada to avert a fresh round of tariffs fell apart at the last minute Tariffs kick in 12:01 a.m. EST

Watched Trainspotting for my 28th and its 30th birthday yesterday, it’s amazing how the movie only seems to get more prescient as the world gets more modern. One of the best movies about confronting endemic nihilism, with an incredible soundtrack and just a deluge of striking visuals. boxd.it/fUWbZ5

A ★★★★★ review of Trainspotting (1996)

I watched Trainspotting for my 28th birthday and its 30th birthday, and as the decades have passed it’s amazing how this movie has only gotten more prescient as the world gets more modern. How do you ...

boxd.it

College kids also actually live in the place where they go to school Plus the “wishes” they’re “overcoming” here are NIMBY policies so bad that they’re driving students to homelessness. Sorry but it’s reasonable to expect some of the wealthiest cities in California to allow more housing!

Tom Nichols@radiofreetom.bsky.social · 3w ago

Well, that's a new one. "College kids should be able to vote to overcome the wishes of the people who actually live in the place where they go to school"

The core economic pitch for Trump's mass deportations was "fewer immigrants means more jobs for Americans. Unsurprisingly, that's just not happening Instead of rising, prime-age employment rates for native-born Americans fell to the lowest levels in more than four years in data released today

A graph of prime-age employment rates for native and foreign-born

The US tech sector continues bleeding jobs—official data released this morning shows employment dropped by 4k last month and is down 42k over the last year That's not as bad as the worst of the 2024 tech-cession, but extremely bad compared to the 2022 boom or even pre-2020 norms

a graph of year-on-year change in US tech employment

June US transit data is in today, & all of the 10 largest US rail networks are growing! SF is seeing a real boom, with ridership up 16% on Muni & 14% on BART SEPTA (Philly, 9.1%) and PATH (NY/NJ, +8.7%) are also seeing strong growth, while MTS (San Diego, +1.4%) is the slowest🧵

a graph of ridership growth in the 10 largest US urban rail networks

June US transit data is in today, & all of the 10 largest US rail networks are growing! SF is seeing a real boom, with ridership up 16% on Muni & 14% on BART SEPTA (Philly, 9.1%) and PATH (NY/NJ, +8.7%) are also seeing strong growth, while MTS (San Diego, +1.4%) is the slowest🧵

a graph of ridership growth in the 10 largest US urban rail networks