Thomas Herndon

@thomasherndon.bsky.social

Associate Professor of Economics, John Jay College, CUNY. Bass player for Light Sweet Crude and Minaxi. All thoughts my own.

One of the most pathetic examples of corporate capture I've ever seen. CFPB is requiring bank examiners to read a "humility in supervisions" pledge before any examination begins, basically apologizing for having the temerity to monitor compliance. Here's the pledge.

files.consumerfinance.gov

Something absolutely perfect about Larry Summers riffing about the scourge of woke cancel culture being unfair to predatory men in a friendly email to his pal JEFFREY EPSTEIN.

I think this touches a deep, often-overlooked point. In my labour law days, I saw some employers spend MORE money fighting unionization than they would have paid accepting it. Loss of control was driving them at least as much as profits! Control is vital – with environmental policy as well.

JW Mason@jwmason.bsky.social · 9mo ago

I should write the argument up properly somewhere, but I think this is fundamentally wrong. A decisive fraction of the capitalist class does oppose addressing the climate crisis, but *not* because it would be bad for profits. If anything, a green New Deal type program would raise aggregate profits.

On the collapse of COP30 and general climate inaction. I think this is correct and important: there are plenty of profits available in a full-scale green transition. But it won't happen without public orchestration and *that* is what threatens holders of capital.

JW Mason@jwmason.bsky.social · 9mo ago

The problem from their point of view is that rapid decarbonization requires public, collective decisions about the organization of production, in a way that threaten capital-owners' authority over both the production process and the political system.

@jwmason.bsky.social as Green New Kalecki. (i think he’s right. @schwarz.bsky.social’s “iron law of institutions” applies to particular capitalists and the economy at large. they’d accept economic collapse and catastrophe if that’s what preserves their own capacity to control.)

JW Mason@jwmason.bsky.social · 9mo ago

The problem from their point of view is that rapid decarbonization requires public, collective decisions about the organization of production, in a way that threaten capital-owners' authority over both the production process and the political system.

Fanone gets it: Opposition to political assassinations includes people whose views have no redeeming qualities, like Charlie Kirk. Sugarcoating his views not only is dishonest in itself, it conveys that maybe you wouldn't oppose assassination of people whose views you don't sugarcoat.

Fred Guttenberg@fredguttenberg.bsky.social · 11mo ago

Thank you Michael Fanone. For those who do not recognize the name, Michael is one of the officers who defended America on January 6th and was left permanently injured as a result. He is a true hero of our Democracy.

i find this image so fascinating. it is both a literal example of authoritarianism but also a second-hand reproduction of the aesthetics of other authoritarian states. it's like a simulacra of authoritarianism whose purpose is to attempt to make the simulacra real.

Michael Clemens@mclem.org · 11mo ago

This is a real photograph of Washington, DC this week, where the United States president has ordered military occupation in peacetime, and ordered the display of colossal portraits of himself. www.wsj.com/politics/pol...

Washington, DC under military occupation in last August 2025, with banners proclaiming the absolute power of the primus inter pares

New ICE deportation data just dropped: on average ICE deported 1100 people every day last month, a huge escalation Although less than half the pace needed for Trump's goal of one million annual deportations, Congress gave them their funding, and we should expect this rate to rise

Line plot showing average daily ICE removals in 2025. The title of the plot is "Trump is deporting more than 1,000 people every day"

Absolutely. One often missed aspect of bi/multi racial identity is we usually don’t fit into the categories that make us up. I’m 1/2 chinese, 1/2 white, checked both boxes on my apps, but have never been considered chinese or white by those communities, and don’t consider myself that either.

Olúfẹ́mi O. Táíwò@olufemiotaiwo.bsky.social · last yr.

just saying: if you didn't grow up crafting a default answer to "what are you/where are you from?" with some version of "what do you mean?" you may want to consult people who did about what's going on here

Something beautiful about Miami-Dade is “what are you/where are you from” is the usual first order of business. Alongside vast Latino diversity are Black, African, and/or West Indian heritages, too, ranging from Black Americans “from here” to Bahamians, Haitians, Dominicans, Jamaicans and Cubans.

Olúfẹ́mi O. Táíwò@olufemiotaiwo.bsky.social · last yr.

just saying: if you didn't grow up crafting a default answer to "what are you/where are you from?" with some version of "what do you mean?" you may want to consult people who did about what's going on here

"how is it that someone could fail to realize that 'African-American' here does not necessarily refer to an American person from Africa, and that 'African' also does not necessarily refer to a person from Africa?" no idea man, the world's a strange place

maybe more obvious to me as a child of immigrants socialized around other such people but categories here are not even used consistently by people who were socialized here - possibly because they don't actually make sense. it's quite possible that people from elsewhere just actually don't understand