42 million people will lose their SNAP benefits on 1 November.

But we were assured that the foreigners would pay for the tariffs.

I must finish making dinner.

Manels are so last century. (Then again....)

Let's see what China uses this week.... www.newsweek.com/china-uses-r...

The text of the 1987 Reagan speech on tariffs: www.reaganlibrary.gov/archives/spe... He'd just imposed some retaliatory tariffs against Japan, over semiconductors, so there's a definite "fair but free" angle here. But also a claim that tariffs are of limited use as a foreign policy tool [1/3]

Ed Luce watching democracy die in the United States of America

Read every single word of this from @edwardluce.bsky.social. Should be a gift link. on.ft.com/4qnOCyk The Trump Supremacy

Layna Mosley @laynamosley.bsky.social speaks with @NPR on tariffs impact on Diwali celebrations in the US. www.npr.org/2025/10/20/n...

Still not too old to not take stationery from IOs.

Goodbye, #DebtCon8 … until we meet again, because that’s what #DebtCon is about @georgetownlaw.bsky.social @publicdebtispublic.bsky.social @laynamosley.bsky.social @mkessler.bsky.social @upanizza.bsky.social

It's the most wonderful time of the year....for debt geeks. @agelpern.bsky.social @upanizza.bsky.social @mkessler.bsky.social and I are so excited to welcome folks to DebtCon8! web.cvent.com/event/005168...

@upanizza.bsky.social #DebtCon8 is real & it’s 1glorious #DebtCon 3days 75papers 15panels 11 RTs 99speakers fr 6continents +10^6 #sovereigndebt acronyms eg #PSI #DSA #PCS #PDIP & #OMG aka #Argentina @laynamosley.bsky.social @mkessler.bsky.social @robinwigglesworth.ft.com @georgetownlaw.bsky.social

Applications for the Niehaus Center for Globalization and Governance's postdoctoral fellowship program for 2026-2027 are due Monday, October 13. Details here: www.princeton.edu/acad-positio...

Maybe it's less impressive to issue debt at just over US rates, given that the US has become (or should become?) a riskier place? on.ft.com/3VCzxuE

Foreign (kitchen) cabinets are a threat to US national security. Of course they are. www.nytimes.com/2025/09/25/b...

Texas A&M’s President just removed a dean and department head from their positions after they supported a professor whose lesson on gender was challenged by a student. www.kbtx.com/2025/09/09/a...

A 9-member superlegislature, imposing its political preferences, totally detached from the law, constitution, precedent, & plain meaning of words, just as the Founders intended.

I suppose it's good that these investors are describing tariffs as a tax (or, at least, a source of revenue), but do they really expect that the revenue will do much to reduce US borrowing requirements and overall debt? [1/n] on.ft.com/4p6YpIk

The bond market vigilantes aren't going to save us, version 342. "Eighty-two per cent of the participants in the FT poll are convinced that financial markets have so far priced in the White House’s interventions on the Fed only partially or marginally..." on.ft.com/464lZwU

Go ahead, make my day Mr. Trump We @democracydefendersfund.org immediately sued you & got an injunction on your 1st voting EO We will do the same here if you try it again The Constitution gives this authority to the states & Congress, not you! www.nytimes.com/2025/08/31/u...

The bond market vigilantes are (yet again) not going to save US democracy. @robinwigglesworth.ft.com www.ft.com/content/b7d4...

Institutional investors describing this as exemplifying "fiscal dominance risk" seems less accurate than "another example of an authoritarian act to undermine institutions, plus racism and misogyny." Sure, governments care more about borrowing costs as debt increases, but... on.ft.com/4fUW4fC

If only the Senate cared about Fed officials having any grasp on reality… www.nytimes.com/2025/08/07/u...

Firing the BLS Commissioner — the wonk in charge of the statisticians who track economic reality — is an authoritarian four alarm fire. It will also backfire: You can't bend economic reality, but you can break the trust of markets. And biased data yields worse policy.

Next: president attempts to fire the head of the S&P for not providing better numbers.

I'll take "narcissists projecting" for $200, please. “She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can’t be manipulated for political purposes,” Trump said. on.ft.com/44XPXTT

Okay, *now you can start to worry about data being manipulated.

Autocrats don't want citizens to have accurate information about the state of the economy, as such shared information makes it easier to coordinate political behavior. It also makes more obvious the negative consequences of Trump's trade policies. www.nytimes.com/2025/07/30/b...

In April, I saw Stephen Miran (chair, Council of Economic Advisers) speak at conference in DC. To an audience of mostly economists, policymakers and investors, he said: 1.Trump is one of the best negotiators the world has seen; and the most transparent & accessible president in history. [1/n]

IMF: (1) US trade policy bad, but not as bad as it could be. (2) Trade war and threats to Fed independence are bad for US borrowing costs and bad for the dollar's value...but good for governments and firms that need to service dollar-denominated debt. www.ft.com/content/a92e...

Tariff rebates? But I thought we'd been told that foreigners were paying the tariffs!

You dont need a scholar of authoritarianism and the military like me to tell you this does not produce good outcomes

Choices governments make not only about how much to borrow, but also about how to borrow (here, relying on shorter-maturity debt, which needs to rolled over sooner) can generate constraints (but often for their successors, not for them). on.ft.com/3IL4olA

"Arithmetic has a well-known globalist bias."

Fiscal transparency is a key part of democratic accountability.

Not sure that "doing this will wreck the economy" matters at all to the president, but perhaps others will pay attention. "Ironically, forcing monetary policy to help finance deficits actually drives up borrowing costs for everyone, including home buyers and businesses, as well as the government."

dear bond market vigilantes: doesn't look like the court will save the US, so maybe you could? Thanks. www.ft.com/content/47f3...

1. Very few details of the agreement (including what counts as transhipment) have been released. 2. Even if Vietnam and the US have agreed a deal, is there any reason to believe that Trump will stick to it? on.ft.com/40iO5m1

One out of two, maybe.

Duckworth to Hegseth: "You are blowing through money like my fellow cadets and I did in our first liberty after basic camp. Luckily I didn't end up with a questionable tattoo ... you're just an unqualified yes man who can't tell the president how to keep Americans safe."

The first evidence??? www.nytimes.com/2025/06/16/w... "President Trump has decided not to sign onto a statement calling for de-escalation between Iran and Israel that is being prepared... the first evidence of an ongoing rift between Mr. Trump and his fellow leaders gathered for a summit."

the 8 a.m. Sunday conference panel

Quite the contrast with the energy at the #NoKings protests today.

Also, unintended benefit of Amazon’s prevalence: so much cardboard for making all those protest signs.

#NoKings in PRINCEton (but a boss, maybe)

Alternatively, “Thousands of Americans expected to take to the streets in defense of their neighbors and their democracy” www.nytimes.com/live/2025/06...

“If I were a foreign government I would worry that even if I did get to a deal there’s nothing to ensure that he [President Trump] would stick to that deal." Professor Layna Mosley @laynamosley.bsky.social on Marketplace @marketplace.org www.marketplace.org/story/2025/0...

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