This “she’s on the right so markets like her” stuff is just so stupid on so many levels.

Did they pick the right chancellor? No. But did they at least play the right tactics against Argentina? …

Felt like England had more possession than this.

Yup.

The optimistic case: The real action, if it is going to happen, is going to be on the supply side. Transport, DECC, MHCLG, etc the real drivers. The big fiscal calls are how raise some more revenue and whether to borrow more for investment. Both of those are really calls for the PM not the CHX.

A lot — even more than before — now hinges on whether the proposal to split the Treasury turns into something.

I hope I’m wrong but I’m getting ‘snatching defeat from the jaws of victory’ vibes.

Ok, I’m calling it — I reckon this is where we are headed. Let’s mark to market in a couple of years.

29C is so much better than 32C. Bristol has gone from horrible to glorious in the space of three Celsius points.

Potentially important comments from incoming OBR boss Jonathan Haskel. "My forecast would be in the medium term of somewhat higher interest rates and weaker GDP growth than most are expecting," he told the TSC. Opposite to OBR's March forecasts that looked a lot rosier than others' projections.

Stockpiles and Chinese import adjustment have got us much further than many expected, but the slack they provide is finite. Prices will move fast if we really start to test a market without buffers.

[boldly] I just don't think the British government needs to have Shabana Mahmood in it, I think we managed fine without her and we can just keep going without her, it's fine, Andy Burnham doesn't need to find a space for her in cabinet, there are other MPs

🚨SpaceX bond yields rocket towards junk www.ft.com/content/3a02...

Some thoughts on the potential direction of travel for Andy Burnham's political economy. The interesting ideas on the left relate to with the supply side -- ownership, control and distribution -- and offer scope for action. The macro constraints still bind however. blogs.lse.ac.uk/politicsandp...

In general, those who don't know anything about fiscal policy and have not spent a fair bit of time thinking about it will almost certainly gravitate to the most basic -- and wrong -- '101' understanding, and listen to the most conventional -- and wrong -- advising voices.

Looks like, after a reader made a comment about this language, they updated the article.

I’m sorry, but what is ‘radical’ about the policies pursued by Miliband?

It seems ages ago since we finished it, but @fintechcapital.bsky.social, by @paullangley.bsky.social and me, is now out: published today in the US by @princetonupress.bsky.social. It’s published in the UK in about six weeks or so press.princeton.edu/books/hardco...

Finally, tax and spend. One of Reeves’ biggest decisions was to tax more to pay for the NHS. The Chancellor has raised nearly £70bn in tax and spent 70% of it on higher day-to-day departmental spending. £9 in every £10 of the new money in her spending review went to the NHS.

Once you start mass removal of citizenship on political grounds you've stopped functioning as a viable democratic state. But that was always where this agenda was heading.

I was one of the economists who signed this statement on "AI’s Transformation of the Economy” - whatever your view about AI, we should try to understand the economic impacts and figure out how to make sure it benefits society. wemustactnow.ai

If there is an AI race, has America simply lost? www.ft.com/content/9c8f...

Before I ironed it, this was a keycard to a room.

Got off the train in Leeds and it’s … a bit chilly? I’d forgotten what that feels like.

We’ve finally found out who is responsible for the The Black Hole

Good to see this recording from last year’s festival is now out. Sarah is back in November to discuss AI and work with others. You can book here: economicsfestival.co.uk/event/are-we.... And follow @economicsfestival.bsky.social for updates.

Fwiw. Available at Foyles and Waterstones :) (Folks in the UK)

These people are insane. ai-2040.com/supplements/...

The indemnifications on this must be something else

Well, this is not very good. www.economist.com/leaders/2026...

Still need to get myself a copy of this one.

"Quick, we need a picture of John Williams for an article about the Fed's balance sheet"

Enjoying this polite skewering of the FT's Burnham bond apocalypse obsession.

This is a good and necessary first step in repairing Labour's relationship with the Muslim community. But the mistakes over Gaza reflect broader problems, including a sense that Labour hasn't done enough to stand up for ethnic minorities against the hard right. www.theguardian.com/politics/202...

Nearly 80 Labour MPs sign letter urging Andy Burnham to retreat on Shabana Mahmood’s immigration reforms, warning voters in Makerfield did not talk about “making it harder for care workers and nurses to settle here” and raising serious concerns over hostile rhetoric 👏🏼 inews.co.uk/news/politic...

Very sorry to hear about the passing of Jane D'Arista. She was a big presence around the University of Massachusetts economics department when I was there in the '00s, and I learned a lot from her. peri.umass.edu/jane-darista/

There’s a lot to like in this proposal.

All this, about writing, resonates strongly. And as the author goes on to say "Writing is hard because the writer is learning. If AI eliminates the challenge, it also eliminates the learning." www.theatlantic.com/magazine/202...

I wonder if there will be any effect on voting intention as Clacton -- a left behind coastal town, ignored by the liberal metropolis --finds itself as the top news item on a daily basis.

Love this FT interactive feature on transformers. ig.ft.com/transformers/

The strangest thing happened today. We went to the uninhabited island of Lunga, west of Mull, to look at the puffins nesting there. I was just taking photos when I felt a thump as something landed quite heavily in my head. It was a puffin! It stayed for about a minute before flying off.

Why would we lend the Americans money to buy our stuff and/or defend us instead of using that money to give our people that money to buy our stuff and/or to build stuff to defend ourselves is the Eureka moment of global rebalancing.

Has someone triggered a by-election?

They say an author is "pregnant" with a book. As a new mum, I can confirm the analogy doesn't stop there: books have a postpartum period too — copy-edits, page proofs, sleep deprivation and all. Anti-fascist Economics has reached the final pass at @penguinrandomhouse.bsky.social! Out in October!

I have no doubt that this is happening absolutely everywhere. The difference lies in the degree to which it is acknowledged and actions taken in response. One problem -- among many -- is the extent to which this penalises the people who don't cheat.

today I learned that Alan Greenspan played saxophone with Stan Getz. en.wikipedia.org/wiki/Alan_Gr...

I see that the OBR has published its fiscal risks report. I kinda feel that something might happen that forces a change of course at some point before we get to debt at 1000% of GDP? And this implies that it's not a very meaningful scenario?

Not sure who needs to know this, but John Hicks wrote a book about Austrian capital theory.

“Obviously nonsense, rightwing propaganda,” says Portes. “He is clearly capable. The idea that he’s some sort of communist or that he’s going to be fiscally irresponsible is just stupid.” 👍👏

'Academics fear they are being “set up to fail” after several institutions finished the academic year by announcing fresh job cuts, casting doubt over who will return after the summer break, and what courses they will be teaching.' 1/3