A clever piece, literally running FRB/US on tariffs does result in higher investment--as John correctly notes.
I believe that says something about limitations in FRB/US which is why I made the modeling choices I did in simulating the tariffs. But props to @carney for doing this.
@jasonfurman What was striking to me was how little the foreign tariff incidence had to be. I started with one-third (basically, dividing equally between importers, purchasers, and producers) but found it could go all the way down to less than 5% and still produce positive GDP results.
WSJ: Nvidia’s board is preparing to oust CEO Jensen Huang, its founder and chief executive after he had two extramarital affairs, including one with a suspected Chinese spy. The board is preparing to meet as soon as today to determine his future, people familiar with the matter said.
My father, Captain John Carney of the US Army, and my grandfathers, Lt. Colonel John Carney (Army) and Captain Richard Sanderson (Navy).
Teaching my kids about the service of their ancestors on this Veterans Day.
My great-great-great grandfather, Major Richard Oulahan, 184th New York Volunteers, aide de camp to General Michael Corcoran, commander of Corcoran's Irish Legion in the Civil War. (He’s the father of John Sanderson’s wife.)
I didn’t really pick any of that up on X. I saw constant complaints about affordability and attacks on anyone who minimized it. Deportations are good and should be celebrated but I didn’t see memes. Certainly didn’t see anyone say a Red Wave was inevitable
Musk buying Twitter, as @AdamSerwer points out, lured conservatives into the trap of thinking that X is real life - and they paid for it.
https://t.co/BF9bbZc2Wl
@Kurtbelgard I agree. My point is really to try to warn people against the interventions they are considering to significantly increase the supply of new homes.
Florida's housing demographics are getting very concerning.
The population of Gen-Z/Millennial renters to Elderly owners is plunging.
And could soon fall below 1.0x.
Back in 2015, Florida had 1.48x renters aged 25-44 for every homeowner aged 75+.
Today, that ratio has collapsed to just 1.08x. The lowest in at least 20 years.
A massive demographic shift.
And one with major implications for Florida's housing market over the next decade.
Structural supply is about to spike as Baby Boomers age out of their homes, while there aren't enough young renters to buy the homes.
To see the 25-44 Renter / 75+ Owner ratio for your ZIP, upgrade now on Reventure: https://t.co/UCc7u2rE0E
Jensen Huang should exercise some common sense, set an example of integrity and character, and step down from his position as the Nvidia CEO.
https://t.co/VS0WDE0g83
The full archive of National Review is a treasure trove. I spent a lot of time in my freshman year in college reading the very old issues from the early years.
Fun day at @NRO. We’ve launched a new website, returned to our original brand identity and for the first time time, we’ve made the entire archive of National Review online. https://t.co/hhkwdLV2ot
Before AOL was acquired by the Italian company Bending Spoons, it had about 215 employees. 100 were laid off after the acquisition earlier this year and they’ve certainly lost a few.
So AOL today actually employs probably less than 100 people.
Can you imagine being one of those guys trying to deal with Mark Levin?
Folks, I have spent literally the entire day trying to get someone at AOL to unlock my email. For the last eight hours, I have been told that the issue has been escalated to supervisors who would contact me. I haven't heard a thing.
You would think that, since I'm one of the last human beings on the face of the Earth still using AOL, they would take care of this. You'd be wrong.
So, once this gets resolved, hopefully before the next presidential election, I'm dropping them. (I kept them this long out of convenience, but now I have no reason to keep them.)
I'll see you on the radio at 6 p.m., at which time I will address this further.
Higher prices in Oct wiped out the considerable increase in average weekly earnings last month, leaving the inflation-adjusted value essentially unchanged for the average American's weekly paycheck, which is up ~1% since Jan '25: