I love stuff like this where the critique of economics is clearly several iterations into a game of 'telephone'.

chowcollection.medium.com/michael-saylor…

Just a reminder: the Japanese government has bought $1.2 trillion of dollars and euros since 2000 and is currently sitting on one of the biggest trading profits from fx in modern financial history

Am having a heck of a time finding the rationale for preventing the exchange rate decline (I understand why policy might want to prevent sharp movements, but this is another matter).

Not sure how 'terrible' this place is. Imports become more expensive? (Otoh, Japanese have more Yen to pay for them.) If so, should feed into inflation (Japan trying for decades to increase inflation), which should work to reduce debt-to-GDP ratio. What am I missing?

Good question young man. The answer is simple: to keep inflation lower than it otherwise would be. See you later in class. 🤓

Non-credible threat alert.

On Tuesday the FTC issued a final rule that effectively bans noncompete clauses in US labor contracts. Given the wide-reaching impact, there has been (understandably) a lot of debate, and also some confusion. Two issues are particularly contentious.

The first is the economic…

Playoff hockey 😅

Meet Canada's future Prime Minister.

PCE inflation 2.7% y-o-y, 3.9% m-o-m (annualized).

The Chips Act has been surprisingly successful at spurring an investment boom. My latest for the Financial Times

ft.com/content/267561…

If these good people can explain how this proposal will serve the country even when the opposing party is in office, we should listen to it.

A public shaming.

Russia is running the table across the Sahel…

Conclusion: Preserving knowledge (and culture) requires more than a good set of barbarian defenses.

It requires a constant state of tending and diligence...

Who cares about U.S. seizing Russian USD reserves? 👇

The narrower claim that smartphones should be avoided in school seems on stronger ground than the broader claim that they are principally responsible for deteriorating mental health