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1/2 Caixin: "China defended its large current-account surplus, saying the funds generated by its export strength are recycled into overseas investments that support industries and financial markets abroad." www.caixinglobal.com/2026-09-11/c...
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Replying to @michaelpettis.bsky.social
2/2 A current account surplus is always balanced by a capital account deficit. What really matters to global growth is whether the capital outflow is directed into higher investment in developing economies or into lower saving in advanced economies. carnegieendowment.org/research/202...
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Great to see: a NYT piece on how people here and around the world are increasingly telling Trump to eat shit and die www.nytimes.com/2026/08/25/u... Seeing two Trump-backed candidates just barely scrape by in SC and OK primaries is also a good sign.
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The rich people who own the media want to take your Social Security rather than have their taxes raised deanbaker22.substack.com/p/the-rich-o...
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Replying to @dpbsmith.bsky.social
The famous Smyth Report, also in 1945, mentions her, pairing her with Otto Frisch as having told Neils Bohr "their guess that the absorption of a neutron sometimes caused the uranium nucleus to split into approximately equal parts." I can't swear to it, but my recollection as a kid in the fifties is
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Replying to @elderman.bsky.social
A case can be made she also should have been awarded the Nobel Prize. Her contribution was critical. But the overwrought phrase, "her name was erased from the discovery she made" is untrue to a comical degree. Her accomplishment has long been widely recognized in science.
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1/4 Caixin: "China’s push to rein in excessive competition in its auto market reached a climax in 2025, as policymakers moved to stamp out a relentless price war that has inflicted severe pain on carmakers, suppliers and dealerships." www.caixinglobal.com/2026-01-02/y...
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1/11 Philip Coggan: "It is a mug’s game trying to predict the end of a boom with any precision. They last much longer than anyone might reasonably expect. That is true of bull markets, as well as economic advances. The reason is that markets... @philipcoggan.bsky.social www.ft.com/content/2ae4...
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Replying to @michaelpettis.bsky.social
10/11 That is why these sequences are so dangerous – they can take in the whole economy. When eventually either excessive debt or stricter policies rein in the market, it is not just property developers who suffer. A wide range of agents can get caught up in the adjustment.
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Replying to @michaelpettis.bsky.social
11/11 Some economists insist that you cannot say that a market is in a bubble when presumably rational investors say it isn't. But the economy itself can shift investment away from"rational" behavior as long as agents have different risk preferences and realistic time horizons.
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I'm not trying to suggest it. I'm flat-out saying it.
Q: How did the White House decide it was appropriate for Jared Kushner to be working on matters that involve Qatar, the UAE, Saudi Arabia -- 3 countries combined that have given him more than $2.5b LEAVITT: It's frankly despicable that you're trying to suggest that it's inappropriate
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Besides the internal contradiction, this is a historically dumb statement. The eradication of smallpox? Of cholera? Yellow fever? This man is a moron.
FOX: What would say is the last great success that our govt public health agencies have had? RFK Jr: I don't think there have been successes (Kennedy said days ago that Trump should get a Nobel for Operation Warp Speed)
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I received a pair of interesting documents last week from a FOIA request, wherein Los Alamos scientists in 1947 and 1949 tried to answer the question: “How many nukes would it take to make the atmosphere dangerously radioactive?” You can read the reports here: doomsdaymachines.net/p/irradiatin...