One for Angus Bylsma. England did not escape the Malthusian Trap first, by Policy Tensor open.substack.com/pub/policytens…

Are you SURE the US outperformed RoW since 2020 because of super-duper cool tech? Like... sure sure?

The Gold, the Shovels, and the Switch: Looking Forward at Big Tech’s AI Cap-Ex Build-Out without the Existential AGI Bet The platforms aren’t gambling on AI—they are trying to tax it. The labs dig for gold while clouds sell shovels and give away the map. If anyone is going... 1/

I muse about prices, and the construction of them (statistical or otherwise) backofmind.substack.com/p/creating-the…

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Søndagsgraf Slapp av, vi knuser Malta!

Ingen årsak. Bare vipps meg 20 % av gevinsten så prater vi ikke mer om den saken

NEW BLOG POST: bold non-consensus predictions for 2026. How the K-shaped economy goes wrong. FOMC traitors. My new rap career. Germany takes fiscal spending too far, and why the Digital God cant save us. No paywall (unless admin screwed this up AGAIN). hub.tslombard.com/things-that-wo…

Jeg skulle ønske at folk skjønte hvor fantastisk velfungerende det norske boligmarkedet er!

Empirical findings 📊 1️⃣ 70s (Wage-led): Strong labor. Wages lead prices. Spirals 🥊 2️⃣ Great Moderation: Decoupling. Structural shifts break the link 📉 3️⃣ Today (Profit-led): Profits lead, real wages lag. Squeeze 🔄 Same inflation, different distributive engine. (4/14)

"But AI capex is the only reason the US economy is growing". People have been saying this all year. So one final time, IT IS BULLSHIT

Stainless Steel/Nickel - JPM “Minister of Energy and Mineral Resources Bahlil Lahadalia has confirmed plans to reduce the country’s nickel and coal production in 2026 as part of efforts to stabilise commodity prices by better managing supply and demand.” JH

Made my day. God jul🎅

It’s easy. The debt brake. The stupidest of policies that Germany exported to the rest of Europe.

Why do people here keep referring to Europe as unsafe? Sure, the recent trend has moved slightly in the wrong direction, and I disagree with many EU policies, but statistically we are by far the safest continent on Earth.

Noen som husker spådommen om at 2026 skulle bli året for aktiv forvaltning? Endelig! Det ble elendig!

I don’t know what is the right PPP exchange rate to adjust GDP between Europe and the US, but this is the primary school lunch menu for January 2026 in La Roque-Gageac, France, population 439, median income 23,030€.

What is "basic shape"? It's becoming clear that when it comes to defining "basic shape" either I'm delusional or the rest of the world is. Personally, I think it's you guys 😊 Our barometer of what it means to be "fit" these days is so far off what it was in the past that it's