lol so in practice this is just targeting the Swiss and Indians

Canadian GDP bounced up 0.2% in July data just released this morning, breaking three consecutive months of declines Overall economic output is now roughly at the same place it was at the beginning of this year

Goods prices are rebounding amidst the trade war—in data released today, prices are up at the fastest pace since the COVID inflation surge across all major goods categories, and increases in durable goods prices are currently larger than at any point from 1995-2020.

Three tariff announcements tonight, each one is dumber than the last. I don’t even know how to read this except as a way for the White House to exempt US pharma multinationals (who import a lot but are always building *something*) and push out smaller foreign competitors.

Not even 20 minutes later and I guess we’re doing 50% tariffs on IKEA for some reason. He’s a man with a plan to make life more expensive and he can’t be stopped.

Every day, Trump wakes up and thinks “what product should I make arbitrarily more expensive today?” Truck tariffs means drivers pay billions more for vehicles, companies/consumers pay more for shipping, & the benefits to truckmakers get outweighed by costs to other manufacturers

Our long national nightmare is over

I am already the Joker, I am now in the process of becoming the Absolute Batman Joker

THE ONLY REASON THEY HAVE TO BE BAILED OUT IS BECAUSE YOU PUT INFINITY PERCENT TARIFFS ON CHINA AND THEY RETALIATED I AM GOING TO LOSE MY MIND

everybody stop and look at the names of these chickens at my local shelter

GDP by Industry data just came in—largest positive contributors were finance (mostly stocks & investment), information (mostly software), & nondurable manufacturing (chemicals & pharma) Retailers were the largest negative contributor, followed by the Federal government amid DOGE

NO NOT MORE TARIFFS I SWEAR TO GOD I WAS ENJOYING THE BREAK SO MUCH

Trump is back to directly threatening ABC over airing Kimmel today

So happy to finally have this in my hands!

what is a Ukrainian irredentist but a realist mugged by reality or something I don’t even know what’s happening anymore

Every day the boundaries of eepy are pushed forward by our brave team of intrepid scientists

Canadian tourists continue avoiding the US—visits have now hit the lowest level since the pandemic, falling 30% since the election

1960s Dan Wang be like (ignore the markups, just a hazard of buying used books)

This race is very funny to me because VAGOP is physically incapable of remembering they’re running an off year election in a D+8 state and keep taking radioactive positions while snapping selfies with the leaking reactor core

The chad thriftbooks shipping me 1950s hardcovers from some library warehouse in Minneapolis within a week vs the virgin New Yorker who still cannot get me a copy of the magazine they print millions of copies of within a month and a half of my subscription starting

Official data is in today, and America set a new record-high for solar power in July, with generation up 30% compared to last year!

The things that get me about this episode is that their ideological hatred of civil servants and technocrats leads them to torch obviously-valuable research, and what’s even dumber is that they believe poverty, joblessness, etc will not exist if it is not measured

guy who listens to the audiobook of Ong's Orality and Literacy

We are in new frontiers of eepiness

Guy whose job it is to make up higher and higher numbers on the White House press releases

One thing I wish Americans would appreciate more is just how many apartments are being built in Canada Construction has doubled since 2018, and Canada now spends 2x as much on new multifamily housing as single-family housing. (ratio is 3:1 in the opposite direction for the US)

Sucky weather, beautiful city

I’m organizing a heist

Congratulations to LA Metro for another expansion to one of America's fastest-growing rail networks—the A line, already the world's longest light rail line, just got 9 miles longer! Hopefully, this (& the upcoming D-line extension) will continue helping the ridership recovery

The new $100k/year H1B fee is pure economic self-harm—workers making **5 times the median US income**, who contribute massively to the US, would still basically be unable to afford this fee Oh, but never fear, the White House reserves the right to dish out exemptions as favors!

Unsurprisingly, DOGE cuts are driving the job losses in DC—although every state has lost federal jobs this year, fed job losses are worth 1.13% of DC's total workforce, much higher than any other part of the US Next closest are nearby Maryland at 0.53% and Virginia at 0.27%

That’ll fix it

We're bringing the "150% tariffs on China" policy into the immigration world

30 states have lost manufacturing jobs over the last year, with overall employment decreasing by 85k Biggest Losses: Montana (-5.6%), Oregon (-3.4%), Vermont (-2.9%), California (-2.7%), Iowa (-2.5%) Biggest Gains: Alaska (11.5%), Louisiana (2.4%), Hawaii (2.3%), Wyoming (1.9%), Nevada (1.8%)

Is the disinflationary impact in the room with us?

State jobs data is out today—growth continues to slow, and 3 states + DC are now losing jobs Fastest: S. Carolina (3.2%), Virgin Islands (2.5%), Puerto Rico (2.1%), Hawaii (2%), Pennsylvania (2%) Slowest: DC (-1.2%), Kansas (-.7%), Maine (-.3%), Illinois (-.2%), Iowa (0.1%)

My metro station is aura farming

this is the guy being fired for being too woke

they're throwing parties without us now

Good view of how much of a hack Oren Cass is—other economists in a conversation with him go "Steve Miran is fine but he should have resigned his seat from the White House CEA before joining the Fed" and he responds "WOOOW the real threat to Fed independence is economists doing cancel culture"

Consumer prices rose 3.3% year on year, with prices for imported goods rising by *tackled by an FCC employee*

New FOMC projections: Higher GDP Growth Lower Unemployment Higher Inflation Lower Interest Rates

🚨FED CUTS INTEREST RATES 0.25% MIRAN DISSENTS FOR 0.5% CUT

US hiring rates remain stuck at 3.3%—hovering near their lowest readings since the start of the COVID—but vary dramatically from state to state DOGE-hit DC has the lowest hiring rate at 1.7%, while Wyoming, Montana, & Idaho have some of the highest hiring rates at 4.5% and above

GDP/capita makes it clear how much of the EU's growth is now concentrated in the East Excluding Ireland's pharma-tax-shifting, all the fastest-growing countries (Bulgaria, Poland, Croatia, Lithuania, & Latvia) are in the East. Spain is the only Western country growing above 1%

Love this map because its story is simple yet important—if you think of the US as the richest ~1/4 of the world economy then "only" China, India, & a handful of central Asian/eastern European states are catching up. Most low, middle, & even high-income states are falling behind

New book haul (including the double tax by oomf @itsafronomics.bsky.social, which I am so overjoyed to finally have in my hands!!)

Puerto Rican GDP data came out today—the island's economy grew 3% in 2023, propelled by an export rebound but also notching gains in consumption, investment, & public sector output Overall GDP remains below pre-COVID levels, but household consumption has hit a new record high

US semiconductor production inched up to a new record high in August amidst the AI boom & the steady completion of CHIPS Act projects—over the last year, semiconductor production is up 16% and capacity is up 13%