“…central bankers like Powell or Ueda are now the resplendent agents of world history, whose every word is of global systemic and political import and whose meticulously scripted press conferences weigh on the minds of financial analysts like a dull nightmare.” - @newlefteviews.bsky.social

🚨🎙️ Friends –– David Adler, Anton Jäger and I are restarting our 'Eurotrash' podcast. Our first ep back is actually an important one, with David reporting from the Global Sumud Flotilla currently en route to Gaza, bearing aid and being attacked by drones. Listen in! www.patreon.com/posts/15-eur...

🚨🎙️ Friends –– David Adler, Anton Jäger and I are restarting our 'Eurotrash' podcast. Our first ep back is actually an important one, with David reporting from the Global Sumud Flotilla currently en route to Gaza, bearing aid and being attacked by drones. Listen in! www.patreon.com/posts/15-eur...

One point: central bank independence was the core tenet of neoliberalism, but it was the rise of market-based finance and the deflationary bias in fiscal policy, key features of the neoliberal era, that forced central banks into a position that made political backlash inevitable.

This is a great article on Central Bank "Independence" jacobin.com/2025/08/cent...

Lev Menand is blistering here. Must listen. Meeting the moment. Incredible stuff from @weisenthal.bsky.social and @tracyalloway.bsky.social on Odd Lots. overcast.fm/+AA5AWNdOBV0

Incisive writing here on the "central bank independence" that Trump is undermining. Can't help but think about this from a climate perspective, as climate policymaking, like inflation, suffers from a time inconsistency and credibility problem. What would a "climate Fed" do?

A refreshing take on the myth of central bank independence: The Long Twilight of Central Bankism jacobin.com/2025/08/cent...

Financial or fiscal domination? That's the question. bsky.app/profile/newl...

And: stop fretting about ‘independence’ and ‘fiscal dominance’, but the following dynamic: gov surrenders fiscal policy discretion to CB, while CB follows the lead of the out of control drunk that is the market-based financial system—financial dominance all the way down. Basically the UK.

“Since the Great Recession, central banks have been under siege from some variant of populism while propping up the financial system practically alone.” @newlefteviews.bsky.social on the attacks on Lisa Cook and the fed, the convenient myth of independence, and a recent history of central banking.

Re: Trump v Fed: Some (very hastily written and heavily edited) reflections on the nature of central bank–government interdependence in the era of crisis and how financial- not fiscal dominance is what should be keeping us up at night. Also Powell is Thomas Becket. jacobin.com/2025/08/cent...

And: stop fretting about ‘independence’ and ‘fiscal dominance’, but the following dynamic: gov surrenders fiscal policy discretion to CB, while CB follows the lead of the out of control drunk that is the market-based financial system—financial dominance all the way down. Basically the UK.

One point: central bank independence was the core tenet of neoliberalism, but it was the rise of market-based finance and the deflationary bias in fiscal policy, key features of the neoliberal era, that forced central banks into a position that made political backlash inevitable.

Re: Trump v Fed: Some (very hastily written and heavily edited) reflections on the nature of central bank–government interdependence in the era of crisis and how financial- not fiscal dominance is what should be keeping us up at night. Also Powell is Thomas Becket. jacobin.com/2025/08/cent...

Asking once again:

By the way: you could have predicted all of this if you had spent just one day some where in the West Bank at any point this century. Nothing that is happening now would have come as a great surprise to you.

So thankful I can express myself and explore my passions through art

Does this site enable group chats now?

Jaw-dropping reporting by Haaretz www.haaretz.com/israel-news/...

TL;DR: The more the US conducts policy in way that erodes confidence in its institutions, the more it takes on the shape of an emerging market, the more sovereign credit rating kind of start to matter. Crudely put, but I don’t think the complacency is fully warranted.

A belated take the ratings downgrade. Yes, it's meaningless for financial markets. No, it won't cause a credit event, nor is a default on the horizon. But the context has changed: it's become increasingly clear that investors are less willing to cut the US some slack. 1/2 jacobin.com/2025/05/trum...

Excellent from Dominik leusder @newlefteviews.bsky.social Though i am more sanguine that’s a matter of degree. Current US policy is deeply self-destructive #empiresuicidewatch And given dollar and security centrality, not good for rest of world. ⬆️ US interest rates -> ⬇️ market value on US debt.

TL;DR: The more the US conducts policy in way that erodes confidence in its institutions, the more it takes on the shape of an emerging market, the more sovereign credit rating kind of start to matter. Crudely put, but I don’t think the complacency is fully warranted.

A belated take the ratings downgrade. Yes, it's meaningless for financial markets. No, it won't cause a credit event, nor is a default on the horizon. But the context has changed: it's become increasingly clear that investors are less willing to cut the US some slack. 1/2 jacobin.com/2025/05/trum...

There are valid, indeed necessary,ways to critique the net trade balances approach w/o distorting the arguments of others or discarding the valid parts. But you have to get the facts right. One stylised fact about the world economy is that trade follows demand more than interest rate differentials.

A somewhat lengthy but well-informed and, in my view, accurate analysis by Dominik Leusder of what has happened in the financial markets over the past two weeks.

»Die derzeitige Spätphase des Neoliberalismus entwickelt sich zu einem ausgesprochen autoritären und ökonomisch destruktiven System«, schreibt der Ökonom Dominik A. Leusder.

Outstanding piece from @newlefteviews.bsky.social Leusder. He absolutely nailed it. Must read.

Along with dear friends Lily Lynch and Nic Johnson I was asked to comment on Trump's first hundred days. In a nutshell: it's all too early to tell, but while he might bury American hegemony, globalism will outlive him. jacobin.com/2025/04/trum...

Mark Blyth and I sang a duet. It’s about how a country’s growth model shapes its state capacity to decarbonize - both the advantages and disadvantages. Enjoy! @ripejournal.bsky.social www.tandfonline.com/doi/full/10....

Hard to overstate how the recent rhetoric of imperial derangement in the face of heightened trade rivalry mirrors that of the 80s… (cc @jwmason.bsky.social)

What Japan teaches us about the US' relative decline and China's woes. Great piece by @newlefteviews.bsky.social jacobin.com/2025/04/japa...

Along with dear friends Lily Lynch and Nic Johnson I was asked to comment on Trump's first hundred days. In a nutshell: it's all too early to tell, but while he might bury American hegemony, globalism will outlive him. jacobin.com/2025/04/trum...

Fascinating piece by Dominik Leusder on the US-Japan rivalry of the 1980s as a precedent for the US-China rivalry today, and on Japan as a model - or cautionary tale - for post-growth politics elsewhere. jacobin.com/2025/04/japa...

A short dispatch on the developing world, which, having just begun to recover from pandemic and war, now has to contend with the triple shock of aid suspension, stalling exports and financial pressure caused by the mother of all rug pulls. jacobin.com/2025/04/trum...

He really said

It’s funny how the ‘wrong crisis’ predicted by Bernanke and co pre 2008 (tensions with China > UST sell-off > dollar crisis > fiscal crisis) is now very much plausible.

“…the possible demise of the $ system opens up the door to an alternative financial/monetary system: one in which hedge funds don’t use public goods like government debt securities for speculative gain, or in which developing countries are not at the mercy of the arbitrary decisions of the Fed…”

La importancia de la divergencia de los bonos del Tesoro y el dólar y lo que podría significar para el futuro del poder estadounidense.

People got this wrong once, and so everyone is hesitant to predict the same today. But things are much worse for the US than in 2008: public debt levels, the fiscal largesse and the catastrophic state of the IRS, the US lost its allies, and the EU is doing much more to boost the international euro

It’s funny how the ‘wrong crisis’ predicted by Bernanke and co pre 2008 (tensions with China > UST sell-off > dollar crisis > fiscal crisis) is now very much plausible.

My long-ish comment on the importance of Treasuries and dollar diverging and what it might mean for the future of American power. jacobin.com/2025/04/trum...

Excellent essay on Trump and Japan, which was his first trade deficit obsession back in the 80's, and on how to manage an economic decline in grace.

"The insight most worth internalizing, however, is that for advanced industrial countries, decline is relative. And relative decline needn’t spell death." @newlefteviews.bsky.social at the height of his powers here.

"for advanced industrial countries, decline is relative. And relative decline needn’t spell death." jacobin.com/2025/04/japa...

The Instagram following of The Left lead candidate. Remind me, what happened on January 29th? #Merz

Has somebody developed an extension of sorts that automates cross posting between Twitter and Bluesky ?