Nina Eichacker
@ninaecon.bsky.social
Still working on a Mitski/Minsky pun; wine mom for big fiscal (the Bidenomics version) https://ninaephd.org/
Oh hi again: I wrote some more about Kenneth Rogoff's Our Dollar, Your Problem -- this one is about the dollar dominance parts, and I think that the next newsletter is going to talk more about central bank independence and other topics he dug into: open.substack.com/pub/ninaeich...
Our Dollar, Your Problem: Ideas that have stuck with me
Or, more substance and less vibes
open.substack.com
The new tariffs on Canada hit cement, plywood, and some electronic equipment — a surprising move when data center input costs are already risking higher U.S. inflation. heatmap.news/daily/trump-...
Trump Found a New Way to Punish Canada
Cement, plywood, and some electronic equipment will face 50% levies. But the real cost is much higher.
heatmap.news
I hate being a media criticism guy but, listen up. If you voted for the Trump tax cuts you don't get to call yourself a fiscal hawk. And Politico shouldn't do you the favor of going along with it www.politico.com/news/2026/07...
The Senate GOP’s squeaky wheel suddenly has a lot of power
Sen. Ron Johnson is next in line for chair of the Budget Committee after Lindsey Graham’s death, and he has some decisions to make about how he’ll handle the job.
politico.com
It’s been a minute! I’m back with a review of Kenneth Rogoff’s “Our Dollar, Your Problem,” which has everything: discussions about dollar hegemony, digs at academic rivals, very particular views about how inflation starts, and more. open.substack.com/pub/ninaeich...
The Odd Experience of Reading "Our Dollar, Your Problem", by Kenneth Rogoff
Welcome back – I took an inadvertent hiatus from writing this newsletter while I was finishing an academic paper revision and then a vacation, but now I’m back.
open.substack.com
If the moved this game to Louisville, Mitch McConnell & Rand Paul attending France v. Spain on Bastille Day would make this the ultimate Bourbon Derby.
Reading recs please: do you have any favorite economic writing about casino capitalism? I would love recommendations from Keynesian/Marxian/Money and Banking econ about trends in financial markets that look like gambling (meme stocks, coins, prediction markets, etc), and critiques of the idea, too!
This administration is trying further their deportation by using bank regulators to pressure banks to shut certain immigrants out of the financial system. It’s akin to a modern form of redlining against immigrant communities.
The Wall Street Journal@wsj.com · 3w agoExclusive: Trump administration regulators issued guidance to banks that aims to discourage them from making loans to undocumented immigrants.
For Yale JREG’s blog, I wrote about Trump v. Cook and the limitations of relying on a narrow SCOTUS opinion to safeguard Fed independence. Because SCOTUS created the problem of politicized agencies, the solution instead lies with Congress and the Fed itself. www.yalejreg.com/nc/the-uncer...
The Uncertain Future of Fed Independence After Trump v. Cook - Yale Journal on Regulation
The Supreme Court’s recent decision in Trump v. Cook seeks to resolve both narrow questions about the Federal Reserve Act’s (FRA) removal protections and the broad question of Federal Reserve independ...
yalejreg.com
1/ We're thrilled to announce that @mtkonczal.bsky.social has been promoted to Vice President of Policy and Research at Economic Security Project. 🎉
We have a job opening for a junior reporter. Minimal experience required, 50-55K per year plus benefits, remote gig heartlandsignal.com/jobs/job-sta...
Heartland Signal - Job Opening - State politics reporter
Early career reporter wanted to cover state news across the Midwest and beyond. We're fact-based, independent and pro-democracy.
heartlandsignal.com
We can't do 'good' in the economy, without a theory of what 'good' looks like. The how matters as much as the what. How we relate to each other, how we value each other, how we work together, how we govern our economy are not secondary questions. They define if we actually reach collective goals.
I always enjoy reading this Aaron's newsletter, but this week's, which makes the progressive case for thinking about fiscal budgets, is particularly great.
Subscribe to Radio Free America (link in bio)@kleinman.bsky.social · 3mo agoThis week's newsletter is out. It's kind of unfair to tell candidates to be more like Zohran Mamdani but he just did a great job of showing how Democrats can campaign as fiscal conservatives link.heartlandsignal.com/v/443/b6619d...
This polling question seems aimed at resolving a lot of Bluesky debates www.nytimes.com/2026/05/21/u...
We need best books lists where criteria are that they're Actually Good and not Something I Agree With
I have my issues with US automakers. But they *did* try to welcome EVs — Ford has lost $19.5 billion since 2022 trying to build EVs. The issue is US consumer tastes, status quo US policy, and a legitimately tricky Christensen-style Innovators Dilemma that afflicts more than just US automakers.
Andrew Lawrence@ndrew.bsky.social · 3mo agoif i were a shareholder of an american automaker id want to know why my ceos were so stupid and shortsighted that they not only didnt see this coming but actively fought it
A really painful thing we have to deal with over the coming decades is that Trump killed the goose that laid the golden eggs www.bloomberg.com/news/article...
America’s Bond-Market Privilege Is Disappearing as US Debt Soars
For much of the past few years, US Treasuries have failed to serve their traditional role as a sure-fire refuge from global market meltdowns.
bloomberg.com
As promised (threatened?) I wrote a newsletter about military Keynesianism, partly for @grahamhubbs.bsky.social , and partly for anyone else who wonders (as I do) if it's a contradiction in terms: open.substack.com/pub/ninaeich...
Thinking about 'Military Keynesianism'
Trump's Military Spending, Republican Deficits, and Keynes
open.substack.com
"Overall, it locks Democrats in and keeps locking them in further from being able to fund a government that can do all of the things that need to be done.” As lawmakers float tax proposals aimed at the middle class, ESP's @mtkonczal.bsky.social spoke w/@nytimes.com about what's really at stake.
Are Democrats Becoming a Party of Tax Cuts?
nytimes.com
Broke: legitimizing crypto will help solidify the dollar’s status as reserve currency. Woke: legitimizing crypto will help facilitate money laundering and sanctions evasion. Bespoke: legitimizing crypto will help displace petrodollars.
Tony Tassell@tonytassell.bsky.social · 4mo agoFT scoop - Iran will demand that shipping companies pay tolls in cryptocurrency for laden oil tankers passing through the Strait of Hormuz. One official says it could be equivalent to $1 per barrel of oil www.ft.com/content/02ae...
I wrote some more about the ongoing economic fallout from the war in Iran, and make a reference to degrowth (h/t to @robinsonmeyer.bsky.social whose 'degrowth donnie' lives in my head): open.substack.com/pub/ninaeich...
More on War, Oil Prices, and GDP
Is the one word still "Plastics"?
open.substack.com
"A broker for Pete Hegseth, the US defence secretary, attempted to make a big investment in major defence companies in the weeks leading up to the US-Israeli attack on Iran, according to three people familiar with the matter."
Pete Hegseth’s broker looked to buy defence fund before Iran attack
Morgan Stanley wealth manager approached BlackRock about multimillion-dollar investment for US defence secretary
ft.com
It is the sovereign legal right of every country on the planet to repudiate their debt, and they can and do suffer essentially no consequences other than loss of access to credit markets for about 3-5 years. This is in fact so disastrous that countries prefer almost anything else to doing it!
M. Nolan Gray 🥑@mnolangray.bsky.social · 4mo agoWhat's something that experts/practitioners in your field universally agree upon, but that remains a "hot take" among the general public?
As mortgage rates increase, making it more expensive to buy a house, the administration’s chief housing regulator is focused on manufacturing frivolous legal charges against the president’s political enemies.
MS NOW@ms.now · 4mo agoTrump housing chief Bill Pulte seeks new DOJ probe of New York AG Letitia James www.ms.now/news/trump-h...
we're all going to be learning about energy markets & contracts like we learnt about derivatives in 2008 lol
Also, the watch is food and transportation for at least 10s of millions of people.
Karthik Sankaran@rajakorman.bsky.social · 5mo agoVarious people are taking a sledgehammer to a fantastically expensive watch with all kinds of complications made up of parts that come from all over the world and take years to make, except that the watch is also food and transportation.
Despite controlling the world's reserve currency and being the top military power, the US has lost its monopoly on major sanctions, says Nicholas Mulder. Limits to US power exposed by: 1/ China's rare earths export controls last year, and 2/ Iran with Strait of Hormuz effective closure
The era of US dominance in economic warfare is over
America has long used sanctions to coerce adversaries, but Iran and China can wield powerful economic weapons too
ft.com
