James Young

[James Young @YoungEcon]

Stop what you are doing and read:
https://t.co/t6l0HtXlJG

[Jonah Goldberg @JonahDispatch]

New Marine Anthem dropping soon:

From the pits of Wall Street trading
To the halls of Treasury,
We will fight the bond vigilantes
And restore liquidity.
First to fight for lower yields,
And to keep the yield curve clean,
We are proud to claim the title
Of United States Marines.....

[Dave Griffith @poorerthandead]

As I mentioned earlier in the week, when Flannery O'Connor visited @NotreDame in April of 1957, she gave a lecture titled "Some Aspects of the Grotesque in Southern Fiction" and read her famously shocking story "A Good Man is Hard to Find."

An audio recording of the entire event exists in the ND archives, but currently only the lecture is publicly accessible online. The link below is the audio of O'Connor reading her lecture, which we know from her letters that she wrote specifically for this visit to Notre Dame. In an April 4th letter to Maryat Lee she confesses to being anxious about traveling and about the visit. She wrote:

"I guess all the bumbling boys at Notre Dame will be forced off the golf courses and football fields to squint at a live novelist."

The event took place in 204 O'Shaughnessy Hall, just upstairs from my office (pic below is what the room looks like today). I have also created a transcript of the recording, which I will make available, too, as it is quite different from the version that would be eventually published in Mystery and Manners: Occasional Prose in 1961.

Enjoy!
https://t.co/xa6mUuQzzJ

[James Young @YoungEcon]

@bradleybirzer @Hillsdale I do teach Hayek, but really over Smith?

[Mike Nelson @mikenelson586]

We cannot allow the Bond Market to aquire a nuclear weapon

[James Young @YoungEcon]

@jamiedupree True relatively speaking. That is the standard political economy perspective: protection gives concentrated benefit and dispersed losses.

[Marc Polymeropoulos @Mpolymer]

I can guarantee every foreign intel service doesn’t say she’s a rando

[James Young @YoungEcon]

@Eliseo_Cab @ReichlinMelnick As someone who jokes about imprisoning the political opposition that is pretty weak.

[James Young @YoungEcon]

@Aintropy @JosephPolitano fify - > **They would sell out the common good for a special interest and call it the common good**

[Jesse Singal @jessesingal]

3/ From Cooper's foreword: "Tragically, many Europeans collaborated in their own destruction, but others refused to march quietly into the yawning grave The latter, led by Adolf Hitler and the Third Reich, have served as the chief devils of the new state religion."

[James Young @YoungEcon]

@McGillPatterson Both of those are great

[Guy Berger @EconBerger]

I recommend reading @john_abowd ‘s commentary: https://t.co/GJzCFA5Vxf

[Pedro L. Gonzalez @emeriticus]

CNN keeps Jennings around not despite his dishonesty but because of it. They treat it like WWE. Jennings is the heel. CNN is paying Jennings to cover for the most corrupt administration in American history because they figure having a villain who everyone loves to hate like that on these panels boosts the viewership. The problem is that Jennings is actually poison. Our political discussion is worse because of him, but CNN only cares about how many people are tuning in to watch him lie.

[Greg Ip @greg_ip]

The budget deficit in Biden's last year (FY24) was 6.3% of GDP. This year, Trump's first full year in office (FY26), CBO projects it at approx. 6.6% of GDP.

[James Young @YoungEcon]

@RapidResponse47 @SecScottBessent Don't break the law and violate the constitution and you won't get such piss poor results.

[Jessica Riedl 🧀 🇺🇦 @JessicaBRiedl]

Yes, and similarly, interest costs now consume 19% of total federal tax revenues for the first time in American history.
(And are heading to 31% annually within a decade, and 54% within three decades under the rosy low interest rate scenario.)

[Marc Goldwein @MarcGoldwein]

I mean, there are actually at least three correct answers.

[Nick Timiraos @NickTimiraos]

On Treasury's debt-purchase announcement

The timing of the decision in between scheduled quarterly refunding announcements (just two weeks after the last one and hours before it is slated to sell $16 billion of 20-year debt) suggests that officials "didn't like what was happening" in the market, said one rate strategist.

https://t.co/1amnESqT19

[Tracy Alloway @tracyalloway]

Interesting tension right now with the new Fed Chair emphasizing less forward guidance and more market ‘independence,’ while the US Treasury Secretary is focused on doing whatever can to lower long-term yields

[Jeff Stein @jstein_notus]

New: ~44% of Treasury officials *chosen by Trump & confirmed by the Senate* have already left

Remarkable turnover far eclipses any recent Treasury Dept

Appears driven by unease over WH orders on tax law

Leaves gaps at key time for US economy

https://t.co/lG9Eowp8TL

[James Young @YoungEcon]

@Acyn He is at least probably directionally right... as long as he means nominal GDP