2025-06-05 19:22:40
Science assumes that there are stable underlying relationships that can be discovered - which is true in the natural world.
But in the social world relationships between variables change, so there are no rules to discover. That is why economics will never be a science.
2025-06-04 22:41:34
New Fed survey of NYC area businesses on tariffs show most had some passthrough, with many reporting a hit on their profits.
https://libertystreeteconomics.newyorkfed.org/2025/06/are-businesses-absorbing-the-tariffs-or-passing-them-on-to-their-customers/
2025-06-04 20:02:51
For foreigners, FX hedged Treasuries don't make sense due to the high hedging costs. Much better to stay home.
https://www.wsj.com/finance/investing/us-bonds-debt-foreign-investment-e9d22b74
2025-06-04 04:02:03
RT Federal Reserve
Re @federalreserve announces that Wells Fargo is no longer subject to the asset growth restriction from the Board’s 2018 enforcement action against the bank: https://www.federalreserve.gov/newsevents/pressreleases/enforcement20250603a.htm
2025-06-04 01:31:31
RT Elon Musk
I’m sorry, but I just can’t stand it anymore.
This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.
Shame on those who voted for it: you know you did wrong. You know it.
2025-06-03 04:13:47
What if our political polarization is simply that we misconstrue the antics of the mentally ill as political positions?
