Ryan Cummings reposted
Ryan Cummings
Ryan Cummings
@weakinstrument.bsky.social
Chief of Staff @SIEPR. Economic Adviser @MITCEEPR. PhD'ing @UW. 2021-2023 WH CEA. I research energy markets during the transition and, as a treat to myself, consumer sentiment. Views my own.
2K followers579 following262 posts
Ryan Cummings reposted
Once mass spam texts were made legal, younger donors vanished, leaving a grassroots fundraising machine that subsists on squeezing vulnerable seniors, some of whom give hundreds of times a day. It’s a horrific model. Consultants get generationally wealthy, and the party hollows out its future.
We found that as of right now 73% of your campaign donation goes back to the consultants and vendors (!!!), four times more than just 20 years ago. Only 13% to ads. Even I was shocked.
Ryan Cummings reposted
Replying to @weakinstrument.bsky.social
Uber subsidized marketplace liquidity to lock in local network density. Frontier labs are funding clusters and training runs that lose pricing power within eighteen months, while API switching costs stay negligible. That capitalizes fast depreciation rather than a defensible moat.
@jaredb-econ.bsky.social and I are looking at the AI labs this week. We show they're losing money in historically large amounts and fast, too; e.g. OpenAI has lost nearly 75% of the amount of money Uber cumulatively lost over 8 years. We also highlight their fragile financing structures, too.
Ryan Cummings reposted
News - Trump is set to attend another dinner at his resort for the biggest buyers of his meme coin You can probably get in to see the president for $1 million Trump has pocketed $635 million Investors down +$4 billion on Trump crypto www.washingtonsun.com/whitehouse/t...
2/2 One thing I want to emphasize: it is very, very difficult for both observers *and the firms themselves* to understand what the ROI of these projects even is, which is a bit wild considering how much is being spent. Link here: econjared.substack.com/p/ai-compani...
Ryan Cummings reposted
here in MA people at a cafe were just griping about their first oil deliveries of the year. prices are 74% more expensive than last year.
2/n: Banning diesel exports would *temporarily* provide some price relief for most of the country, but not for New England. Because pipelines don't run that far north, PADD 1A has to import large amounts of diesel, which means it's competing with a (structurally short diesel) Europe for barrels
A 90 day diesel export ban would truly be a storied piece of policymaking because it would quite literally be the worst of both worlds; refiners would cut runs, throw excess production into storage (instead of sending to rest of US), *raising* prices domestically AND internationally.
(Politico ) - The Trump administration is preparing a plan to ban exports of diesel for 90 days, despite splits inside the administration and with the oil industry, in a bid to bring down energy prices .. @politico.com #ExportBan ⛽️ www.politico.com/news/2026/09...
Ryan Cummings reposted
A longtime career goal to be on Marketplace, and I had to decline the first time I was asked because I was working at the White House. 🥁 So without further ado, I weigh in with thoughts on the gender pay gap and in particular, impact on child care workers and implications for the broader workforce.
The gender pay gap has been widening since 2023, and it’s keeping some women out of the workforce entirely.
Ryan Cummings reposted
Replying to @erikamcentarfer.bsky.social
Relatedly, my SIEPR colleague @weakinstrument.bsky.social is in the New York Times today, talking about the AI equities boom and what happens if it looks like AI investments will not be profitable for a while: www.nytimes.com/2026/07/22/b...
Ryan Cummings reposted
When I ran BLS, I was asked constantly about the impact of AI on jobs. It's still one of the most common questions I get. So we put together a policy brief - for policymakers, journalists, and anyone trying to sort through what is happening with AI and jobs: siepr.stanford.edu/publications...
Ryan Cummings reposted
45K+ bodies a year. In my city we have 3x as many fatalities from reckless driving than homicides. 1. There exists dumb traffic cameras which just take a picture of the plate & the offense and are not networked to other system. 2. Most PDs aren't even using flock cameras for traffic violations.
There's a pro-traffic camera contingent on here that thinks the public safety benefit of a panopticon on the roads is easily worthwhile. I'm not even sure they're wrong, but the downsides are quite real and concrete.
Ryan Cummings reposted
Lorenzo Salgado lived here longer than I’ve been alive, married to his wife of 30 years. Worked a blue collar job building houses to put his three kids through college. A real American and the kind of man they tell you you’re supposed to be. Fascism is so perverse.
"Ronaldo Salgado, the eldest son of Lorenzo Salgado Araujo, said he recognized his dad's voice as he bled out after being shot by an immigration officer in Houston."
Ryan Cummings reposted
If you don't plan to celebrate America's 250th birthday by visiting ornamental fountains in D.C. or watching UFC fighters spar outside the White House, here are some picks for the best parks and public lands from my colleagues at the @uclalawemmett.bsky.social. legal-planet.org/2026/05/28/n...
~90% of the Somalis in MN are American citizens; this is the President directly calling 100,000 of our fellow countrymen and women crooks, 10 days after he announced his intention to steal $1.8 billion from taxpayers to pay him and his friends. If you're not going crazy, you've never been sane.
Trump: "They're all crooks. The Somalians. What they've done to Minnesota. The Somalians. They're crooked as hell. They're all crooks."
Ryan Cummings reposted
Boycott ON! The [NAACP] urges Black athletes to withhold commitments to athletic programs in eight states over redistricting, and it also asks fans to stop buying tickets.” wapo.st/43hRsdT
Ryan Cummings reposted
Ryan Cummings reposted
Opinion | Mass Deportation and American Jobs A study finds that U.S. employment falls in areas with more ICE arrests. www.wsj.com/opinion/mass...
Ryan Cummings reposted
The vast majority of Americans — 8 in 10 — say there should be age caps for members of Congress, as well as term limits, according to the latest NPR/PBS News/Marist Poll. n.pr/4ngwZiW
Me, @jaredb-econ.bsky.social, @nealemahoney.bsky.social, and Caleb Brobst are out with a piece today estimating the impact of 3 prominent Trump policies: OBBA refunds, tariffs, and gas prices. We estimate the combined impact of these will result in the average househould losing >$1,100 in 2026.
Ryan Cummings reposted
Alexis Goldstein, a former Consumer Financial Protection Bureau employee, was fired this year for recording DOGE’s incursion into the agency. www.wired.com/story/a-fede...
Ryan Cummings reposted
Affordability is too often justification for lowering our ambitions to transition from fossil fuels to clean energy. Panel 2 of our recent symposium covers the complexity of the issue. Plus: a high-speed lecture on CA oil prices from @weakinstrument.bsky.social www.youtube.com/watch?v=oJzV...
Ryan Cummings reposted
Repeat after Ryan: "More drilling in California would not insulate the state from price spikes, because the price of oil is determined on the global market." Louder in the back, now!
Me and @nealemahoney.bsky.social are in the LAT today arguing that CA oil industry is trying to use the current crisis to jam through its deregulatory wishlist. Instead of caving, the state should use this moment to be a leader in the "mid-transition." www.latimes.com/opinion/stor...
Me and @nealemahoney.bsky.social are in the LAT today arguing that CA oil industry is trying to use the current crisis to jam through its deregulatory wishlist. Instead of caving, the state should use this moment to be a leader in the "mid-transition." www.latimes.com/opinion/stor...
Great example of this is monetary policy. Nearly 2/3rds of CEOs in a survey wouldn't even venture a guess as to what the Fed's inflation target was (something that directly impacts their business, btw!) and of those who guessed, only 20% could correctly identify it. www.nber.org/papers/w28836
Since a certain phone company CEO is getting attention for some big predictions today, just a reminder that outside of the very specific verticals where their companies operate, there is no reason to believe a given executive is any better at predictive or descriptive analysis than a random person.
Ryan Cummings reposted
Behind the acid blood and jump scares of the Alien franchise is an even more insidious horror: a single employer with unchecked power. How Weyland-Yutani helps explain monopsony — and the rise of inequality on Earth. n.pr/4dGFaCl
What should be particularly worrisome for Trump: sentiment declined this month the most for *Republicans.* Even more so over a 6-month window. He's also completely wiped out the post-election enthusiasm among Rs; sentiment for Ds and Is is down sharply. (w/ @nealemahoney.bsky.social)
Updating this chart from me and @nealemahoney.bsky.social and adding a new one. Increases in the gas prices since Iran conflict have been unrelenting (+$1.14/gal since Feb 28), and we have now witnessed the biggest 30 day increase in gasoline prices on record (data going back to 1993).
Ryan Cummings reposted
“We’re going to cut your healthcare to pay for more wars“ is certainly a message one can choose to run on, I suppose.
Trump is preparing to release a 2027 budget plan that will frame his party’s midterms message around a massive defense buildup, partially paid for by cuts to domestic agencies and health-care entitlements