Sunday, April 6, 2025

Loose Tabs

Seems like a good day to print out my accumulated file of scraps and links, making use of the one-day window between yesterday's initial attempt at a catch up Book Roundup and tomorrow's regularly scheduled Music Week, before checking out for cataract surgery on Tuesday, and whatever disoriented recovery follows that.

I quit my long-running weekly Speaking of Which posts after the election, figuring I had shot my wad trying to exercise what little influence I might have had, and realizing I had little stomach for what was almost certainly to come. I've usually done a pretty good job of following the news, but I've never been a junkie. I learned early on that the sure sign of addiction was that withdrawal was painful. My wife and her father were news junkies. We took a long car trip to the Gaspé Peninsula once -- quite literally the ends of the earth -- and I noticed how twitchy they became as they were deprived of their news routines (so desperate they clamored even for bits of radio in French they hardly understood; I, of course, had my CD cases, so I usually resisted requests for radio). This became even more clear to me when I spent 4-6 weeks in fall 2008, in Detroit working on her father's house after he passed. I only noticed that the banking system had collapsed one day when I stopped to pick up some food, and glimpsed a bit of TV news where I noticed that the Dow Jones had dropped 5000 points from last I remembered. I had no clue, and that hadn't bothered me in the least.

So I figured I could handle a break, especially in the long stretch of lame duck time between election and inauguration, when speculation ran rampant, and everyone -- morose, paranoid losers as well as the insufferably glib winners -- would only double down on their previous expectations. I had made plenty of pre-election predictions, which would be proven or disproven soon enough. I made some minor adjustments in my final post, nothing where I could that the doom and gloom wasn't inevitable, but also remaining quite certain that the future would be plenty bad. As I was in no position to do anything -- and, let's face it, all my writing had only been preaching to the choir -- I saw nothing else to do.

And I've always been open to doubts, or perhaps just skeptical of certainty. So when, just before the election, my oldest and dearest comrade wrote -- "From what you wrote, I think the Republicans/Trump are not as evil as you think, and the Democrats are not as benign as you hope" -- I felt like I had to entertain the possibility. I knew full well that most of my past mistakes had been caused by an excess of hope -- in particular, that the far-from-extravagant hopes I once harbored for Clinton and Obama had been quickly and thoroughly dashed. (Curiosly, Biden entered with so little expectations that I found myself pleasantly surprised on occasion, until his war fumbling led him to ruin -- pretty much the same career arc as Lyndon Johnson, or for that matter Harry Truman.) Of course, I could have just as easily have favored the Republicans with hope. On some level even I find it hard to believe that they really want to destroy their own prosperity, or that their wealthy masters will allow them to sink so low.

I also understood a few basic truths that advised patience. One is that most people have to learn things the hard way, through the experience of disaster. This really bothers me, because as an engineer, my job (or really, my calling) is to prevent disasters from happening, but the temptation to say "I told you so" rarely if ever helps, so it's best to start over from scratch. (FDR's New Deal wasn't a masterplan he had before the Crash. His only firm idea after the Crash was that government should do something fast to help people. He found the New Deal by trial and error, but only because he was open to anything that might work, even ideas that others found suspiciously leftish.)

The second is that what people learn from disasters is very hard to predict, as the brain frantically attempts to find new order from the break and dislocation -- which even if generally predicted often differs critically in details. What people "learn" tends very often to be wrong, largely because the available ideas are most often part of the problem. To have any chance of learning the right lessons, one has to be able to respond to the immediate situation, as free as possible of preconceptions. (By "right" I mean with solutions that stand the test of time, not just ones that gain popular favor but lead to further disasters. Japan's embrace of pacifism after WWII was a good lesson learned. Germany's "stab-in-the-back" theory after WWI wasn't.)

The third is that every oppression or repression generates its own distinctive rebellion. Again, there's little value in trying to anticipate what form it will take, or how it will play out. Just be aware that it will happen, prepare to go with (or in some cases, against) the flow. (Nobody anticipated that the response to the Republican's catastrophic loss in 2008 would be the Tea Party -- even those who recognized that all the raw materials were ready to explode couldn't imagine rational beings doing so. This is a poor example in that the disaster felt by Republicans was nothing more than hallucination, whereas Trump is inflicting real pain which even rational people will be forced to respond to, but that only reiterates my point. And perhaps serves as a warning against paranoid overreaction: the Gaza uprising of Oct. 7, 2023, was a real event which caused real pain, but Israel's lurch into genocide, which had seemed inconceivable before despite being fully overdetermined, is another example.)

So I knew not only that the worse Trump became, the sooner and stronger an opposing force would emerge. And I also knew that to be effective, it would have to come from somewhere beyond the reach of my writing. I may have had some ideas of where, but I didn't know, and my not knowing didn't matter. The only thing I'm pretty sure of is that yesterday's Democratic Party leaders are toast. The entire substance of their 2024 campaign (and most of 2020 and 2016) was "we'll save you from Trump," and whatever else one might say about what they did or didn't do, their failure on their main promise is manifest. But I'm happy to let them sort that out, in their own good time. I'm nore concerned these days with understanding the conditions that put us into the pickle where we had to make such terrible choices. And putting the news aside, I'm free now to go back to my main interest in the late 1960s -- another time when partisan politics and punditry was a mire of greater and lesser evils, when the prevailing liberalism seemed bankrupt and defenseless against the resurgent right -- which is to think up utopian alternatives to the coming dark ages.

More about that in due course. But in everyday life, I do sometimes notice news -- these days mostly in the course of checking out my X and Bluesky feeds -- and sometimes notes. They go into a draft file, which holds pieces for eventual blog posts (like this one). I used to keep a couple dozen more/less reliable websites open, and cycle through them to collect links. I still have them open, but doubt I'll hit up half of them in the afternoon I'm allotting to this. So don't expect anything comprehensive. I'm not doing section heads, although I may sublist some pieces. Sort order is by date, first to last.

Mike Konczal: [02-02] Racing the Tariffs: How the Election Sparked a Surge in Auto and Durable Goods Spending in Q4 2024: "An extra 188,500 total cars sold anticipating Trump's tariffs?" I've been thinking about buying a new car for several years now, but simply haven't gotten my act together to go our shopping. Usually, waiting to spend money isn't a bad idea, but this (plus last week's tariff news) makes me wonder if I haven't missed a window. I still have trouble believing that the tariffs will stick: popular opinion may not matter for much in DC, but the companies most affected have their own resources there. By the way, Konczal also wrote this pretty technical but useful piece: [02-14] Rethinking the Biden Era Economic Debate.

Robert McCoy: [03-11] The Right Is Hell-Bent on Weaponizing Libel Law: "The 1964 Supreme Court decision affords the press strong protections against costly defamation lawsuits. That's why a dangerous new movement is trying to overturn it." The idea is to allow deep-pocketed people like Trump to sue anyone who says anything they dislike about them. Even if you can prove what you said is true, they can make your life miserable. This is presented as a review of David Enrich: Murder the Truth: Fear, the First Amendment, and a Secret Campaign to Protect the Powerful.

Janet Hook: [03-18] Michael Lewis's Case for Government: Lewis's The Fifth Risk was one of the best books written after Trump won in 2016, not least because it was the least conventional. Rather than getting worked up over the threats Trump posed to Americans, he focused on the people who worked for the government, in the process showing what we had to lose by putting someone like Trump in charge. His The Premonition: A Pandemic Story took a similar tack, focusing on little people who anticipated and worked to solve big problems on our behalf. This reviews his new book Who Is Government? The Untold Story of Public Service, a set of profiles of government workers mostly written by his friends.

Thomas Fazi: [03-24] Europe's Anti-Democratic Militarization: "Europe is being swept up in a war frenzy unseen since the 1930s. Earlier this month, the European Union unveiled a massive $870-billion rearmament plan, ReArm Europe." The proximate cause of this is Trump, whose election lends credence to doubts that the US will remain a reliable partner to defend Europe against Russia. These fears are rather ridiculous, as the US is almost solely responsible for turning Russia into a threat, but also because the reason the US became so anti-Russia was to promote arms sales in Eastern Europe (and anti-China to promote arms sales in East Asia, the main theater of Obama's "pivot to Asia"). There are many things one could write about this hideous turn -- Europe has been ill-served by its obeisance to America's increasingly incoherent imperial aims, so the smart thing there would be to become unaligned -- but one key point is that the center-left parties in Europe have given up any pretense of being anti-war, anti-militarist, and anti-imperial, so only the far right parties seem interested in peace. Even if they're only doing so because they see Putin as one of their own, many more people can see that interventionism, no matter how liberal, is tied to imperialism, and they are what's driving refugees to Europe. You shouldn't have to be a bigot to see that as a problem, or that more war only makes matters worse. Or that "defense" is more temptation and challenge than deterrence.

Jeet Heer: [03-25] Group Chat War Plans Provide a Window Into Trump's Mafia State: "American foreign policy is now all about incompetent shakedowns and cover-ups." On the Jeffrey Goldberg "bombshell", the events he reported on, and the subsequent brouhaha, which is increasingly known as the Signal Scandal (or Signalgate), more focused on the lapse of security protocol than on the bad decisions and tragic events those involved wanted to cover up. Jeer reduced this to five "lessons":

  1. Trump is running a mafia state.
  2. Pete Hegseth is a bald-faced liar -- and it doesn't matter.
  3. The war on Yemen made no sense and was conducted without consulting Congress or allies.
  4. The Trump administration really hates Europe -- but stil wants to fight wars on its behalf.
  5. The contradictions of America First are resolved by Mafia-style shakedowns.

Some more articles on this:

Darlene Superville: [03-27] Trump executive order on Smithsonian targets funding for programs with 'improper ideology': Oh great, not only are the federal employees who act as custodians of our national history subject to arbitrary dismissal and possibly rendering, now they have to spend every day of the next four years arguing with Trump's goons about political correctness!

Liza Featherstone: [03-28] Welcome to the Pro-Death Administration: "From climate change to nuclear weapons to lethal disease, the Trump administration seems to have decided that preventing mass death isn't really government's business anymore." Title was too easy, given the anti-abortion cult's "pro-life" conceit. Still, although there are certain kinds of death the Trump administration unabashedly favors -- capital punishment, bombing Yemen, providing blank check support for Israeli genocide -- the clear point of the article is the administration's extraordinary lack of concern for public health and any kind of human welfare. What's hard to say at this point is whether this frees them from any thought about the consequences of their actions, or their thoughtlessnes and recklessness is the foundation, and carelessness just helps them going.

Saqib Rahim: [03-28] Trump's pick for Israel Ambassador Leads Tours That Leave Out Palestinians -- and Promote End of Days Theology: Mike Huckabee, who started as a Baptist minister, became governor of Arkansas, ran for president, and shilled for Fox News, has finally found his calling: harkening the "end of days." Most critics of America's indulgence of Israeli policy find it hard to talk about Christian Zionist apocalypse mongering, probably because it just seems too insane to accept that anyone really believes it, but Huckabee makes the madness hard to ignore. That he's built a graft on his beliefs with his "Israel Experience" tours is news to me, but unsurprising, given the prevalence of conmen in the Trumpist right. On the other hand, "erasing Palestinians" is just par for the course. Huckabee's own contributions there have mostly been symbolic, which doesn't mean short of intent, but as US ambassador he'll be well on his way to an ICC genocide indictment. Too many more horror stories on Israel to track, but these stood out:

Jackson Hinkle: [03-31] tweet: Entire text reads: This is one of the most evil people in history." Followed by picture a smiling (and younger than expected) Barrack Obama. I don't know who this guy is, but he obviously doesn't know jack shit about history, even of the years since his subject became president.[*] But the bigger problem is what happens when you start calling people evil. It's not just that it throws you into all sorts of useless quantitative debates about lesser or greater evils, the whole concept is akin to giving yourself a lobotomy. You surrender your ability to understand other people, and fill that void with a command to act with enough force to get other people to start calling you evil. But to act with such force one needs power, so maybe what's evil isn't the person so much as the power?

[*] Hinkle appears to be a self-styled American Patriot (note flag emoji) with a militant dislike of Israel, succinctly summed up with a picture of him shaking hands with a Yemeni soldier (Google says Yahya Saree) under the title "American patriots stand with Yemen," along with meme posts like "Israel is a terrorist state" and "Make Tel Aviv Palestine again." So I suppose I should give him a small bit of credit for not inventing Obama's "evil" out of whole cloth (like Mike McCormick, whose latest book on Obama and Biden is called An Almost Insurmountable Evil), but all he does is take sides -- his feed also features pure boosterism for Putin and Gaddafi, as if he's trying to discredit himself -- with no substance whatsoever.

Rutger Bregman: [03-31] What I think a winning agenda for Democrats could look like: This was a tweet, so let's quote it all (changing handles for names, for clarity):

  1. Alexandria Ocasio-Cortez/Bernie Sanders-style economic populism. Tax the rich, expand public services, balance the budget. Skip the ideological fluff: no anti-capitalism and degrowth blabla, just good old-fashioned social democracy.
  2. David Shor-style popularism: relentlessly double down on your most popular policies. Universal Pre-K, affordable child care, higher minimum wage, cheaper groceries, cheaper college, cheaper prescription drugs.
  3. Yascha Mounk/Matthew Yglesias-style cultural move to the center: moderate on immigration, tone down identity politics, admit men & women are different, stop the obsessive language policing, explicitly distance yourself from far left cultural warriors. Reclaim patriotism. Be smart on crime: no 'defund the police' but more cops and better cops who solve more crimes. Be the party of cleaner streets, fewer guns, and public order.
  4. Ezra Klein/Derek Thompson-style YIMBY/abundance agenda. Slash red tape, defy silly rules and procedures. Declare an emergency if necessary. Shovels in the ground, make a big show of building affordable housing and clean energy (livestreams etc.). Set targets and deadlines. Be the party of progress that (visibly!) builds.
  5. Build a big tent of progressives, moderates and independents. Unite in opposition to Trump. Attack him when he engages in economic arson (tariffs etc) and democratic arson (blatant disregard for due process, civil liberties etc.), and when it highlights your strengths: competence, solutions, basic human decency.

And most importantly of all:

Win elections. Then do the right thing. (In that order.)

In other words, everybody's right, let's try it all, only, you know, win this time. The thing is, this prescription is pretty much what Harris tried in 2024, and somehow she still lost. Her approximate grade card on these five points: 70/90/90/80/90 -- sure, she could have bashed the rich more, but they reacted as if she did, and Bregman pulls as many punches on this score as she did, so it's hard to see how they could have landed; and her "big tent" extended all the way to Dick Cheney -- the people who were excluded were the ones who had misgivings about genocide (although I suppose the Teamsters also have their own reason to beef).

The problem is that even when Democrats say the right things -- many advocating policies which on their own poll very favorably -- not enough people believe them to beat even the insane clowns Republicans often run these days. Their desperate need is to figure out how to talk to people beyond their own camp, not so much to explain their better policy positions as to dispel the lies of the right-wing propaganda machine, and establish their own credibility for honesty, probity, reason, respect, and public spirit.

Unfortunately, this isn't likely to happen through introspection. (I remember describing 9/11 as a "wake-up call" for Americans to re-examine their consciences and resolve to treat the world with more respect and care -- and, well, that sure didn't happen.) As Bregman's list of oracles shows, the standard response to a crisis of confidence -- which is the result of the Harris defeat, especially for anyone who believed she was saying and doing the right hings -- isn't self-reflection. It's a free-for-all where everyone competes with their own warmed-over pet prescriptions: the names in 1-4 have been kicking their policy ideas around for years, looking for any opportunity to promote them (although only Sanders and AOC have any actual political juice, which Bregman wants to tap into but not to risk offending his neoliberal allies; 5 is another reminder to water down any threat to change).

I should note Nathan J Robinson's response here:

I see "pretend foreign policy doesn't exist in order to avoid the awkward subject of whether or not Democrats support genocide" continues to be part of the plan.

If Democrats can't figure out that war is bad, not just morally but politically, they will lose, and deserve to lose, no matter how bad their enemies are, even on that same issue. (Sure, it's a double standard: as the responsible, sensible, human party, Democrats are expected to behave while Republicans are allowed to run crazy.) If Democrats can't figure that much out, how can they convince people that public services are better than private, that equal justice for all is better than rigging the courts, that protecting the environment matters, and much more?

By the way, I've read Bregman's book Utopia for Realists, and found it pretty weak on both fronts. (Original subtitle was The Case for a Universal Basic Income, Open Borders, and a 15-Hour Workweek, which was later changed to And How We Can Get There).

I also saw a tweet where Bregman is raving about the new book, Abundance, by Ezra Klein and Derek Thompson. I wrote a bit about the book for an unpublished Book Roundup, which I might as well quote here (I'll probably rewrite it later; I haven't committed to reading it yet):

Ezra Klein/Derek Thompson: Abundance (2025, Avid Reader Press/Simon & Schuster): I've seen many references lately to "abundance liberalism," which this seems to be the bible to. It comes at a time when Democrats are shell-shocked by the loss to Trump -- especially those who are congenitally prejudiced against the left, and still hope to double down on the neoliberal gospel of growth. I sympathize somewhat with their "build" mantra, but isn't the problem somewhat deeper than just providing cutting through the permitting paperwork? While it's true that if you built more housing, you could bring prices down, but the neoliberal economy is driven by the search for higher profits, not lower prices. Democrats have been trained to think that the ony way they can get things done is through private corporations (e.g., you want more school loans, so hire banks to administer them; you want better health care for more people, pay off the insurance companies), which is not just wasteful, it invites further sabotage, and the result is you cannot deliver as promised. Similarly, Democrats have been trained to believe that growth is the magic elixir: make the rich richer, and everyone else will benefit. They're certainly good at the first part, but the second is harder to quantify. Perhaps there are some details here that are worth a read, but the opposite of austerity isn't abundance; it's enough, and that's not just a quantity but also a quality.

I should cast about for some reviews here (some also touch on Marc J Dunkelman: Why Nothing Works: Who Killed Progress -- and How to Bring It Back; other have pursued similar themes, especially Matthew Yglesias):

Jessica Piper/Elena Schneider: [04-02] Why Wisconsin's turnout suggests serious trouble for the GOP right now: 'Democrats keep overperforming in down-ballot elections, and the Wisconsin results suggest it's not just about turnout." I knew that night that Musk's attempt to buy a Supreme Court seat in Wisconsin had failed, but I hadn't looked at the numbers, which were pretty huge.

Ori Goldberg: [04-02] tweet:

Reminder:

  1. There is no "war" in Gaza. No one is fighting Israel.
  2. Israel is engaged in eradication. The only justification Israelis need is the totality of the eradication.
  3. Eradication is a crime in every shape or form. Those engaging in it and enabling it are criminals.

I'm also seeing tweets about and by Randy Fine, a Republican who won a House seat from Florida this week. About: "AIPAC's Randy Fine calls for 5 year prison sentences for distributing anti-Israel flyers, calling it a hate crime." By: "There is no suffering adequate for these animals. May the streets of Gaza overflow with blood." I can kind of understand, without in any way condoning or excusing, where Netanyahu and Ben Gvir are coming from, but I find this level of callousness from Americans unfathomable (and note that Lindsey Graham is one reason I'm using the plural).

Sean Padraig McCarthy: [04-02] tweet:

The Zionist project is so extreme, so violent, so beyond the pale of civilization that nothing progressive can coexist with it. It will drag all your pro-worker, pro-healthcare politics into the abyss. We need anti Zionist political leaders.

Matt Ford: [04-03] Take Trump's Third-Term Threats Seriously: Don't. It's hard to tell when he's gaslighting you, because lots of stuff he's serious about is every bit as insane as bullshit like this. The first thing here is timing: this doesn't matter until 2028, by which time he's either dead or so lame a duck that not even the Supreme Court will risk siding with him. But even acknowledging the threat just plays into his paranoid fantasies, a big part of what keeps him going.

Bret Heinz: [04-03] Rule by Contractor: "DOGE is not about waste and efficiency -- it's about privatization." I'm not sure I had a number before, but "Elon Musk spent more than $290 million on last year's elections." That's a lot of money, but it's tiny in comparison to this: "Overall, Musk's business ventures have benefited from more than $38 billion in government support."

Jeffrey St Clair: [04-04] Roaming Charges: Welcome to the Machine. Tariffs, layoffs, etc. I suppose we have to provide a sublist of tariff articles, so I might as well hang it here. Personally, I've never had strong feelings on tariffs or free trade. I have long been bothered by the size of the US trade imbalance, which went negative around 1970, about the time that Hibbert's Peak kicked in and the US started importing oil. I thought that was a huge mistake, that should have been corrected with substantially higher gas taxes (which in addition to throttling consumption and reducing the trade deficit would also have had the effect of blunting the 1970s price shocks). In retrospect, a tariff would have had a similar effect, and probably stimulated more domestic production, which would have had the unfortunate side effect of making oil tycoons -- by far the most reactionary assholes in America -- all that much richer. But tariffs aren't very good for equalizing trade deficits: by targeting certain products and certain nations, they can lead to trade wars, which hurt everyone. A better solution would be a universal tax on all imports, which is keyed to the trade balance. That clearly identifies trade balance as the problem, with a solution defined to match it, and disincentivizes retaliation. Perhaps even easier would be to simply devalue one's currency, which makes imports more expensive (without the clumsiness of a tax) and exports cheaper. But no one talks about these things, probably because few of the people involved seem to worry much about trade imbalances. They have their own reasons, and they don't want to talk about them either.

The classic rationale for tariffs is to protect infant industries from competition from cheaper imports. This makes sense only if you have a national economic plan, which the US has traditionally refused to do. (Biden has actually done things like this; e.g., to promote US manufacturing of batteries, but Trump has no clue here. Republican tariffs in the 19th century effectively did this, although they never called it this.)

Nor do I regard the issue as especially major. I think the people who have sounded the alarm over Trump's tariff plans have often exaggerated the danger. While the immediate effects, like the stock market tumble, seem to justify those fears, if he stays the course, businesses will adjust, and while the damage will still be real, it won't be catastrophic. But it seems unlikely that he will hold out. The reaction from abroad just goes to show how much American power has slipped over recent decades. When Biden was sucking up to Europe and the Far East, they were willing to humor him, because it cost them little, and the predicability was comforting. Trump offers no such comforts, and is so obnoxious any politician in the world can score points against him, or become vulnerable if they don't. While backing down will be embarrassing, not doing so will be perceived as far worse. I don't think he has the slightest clue what he is doing, and I suspect that the main reason he's doing it is because he sees it as a way to show off presidential power. That still plays to his fan base, but more than a few of them are going to get hurt, and he has no answer, let alone sympathy, for them.

A few more articles (hopefully not many, as this is already a dead horse):

David Dayen: [04-04] No Personnel Is Policy: "The Trump administration is accomplishing through layoffs what it couldn't accomplish through Congress."

There are certainly plenty of more normal ways Trump is changing the government, old standbys like hiring lobbyists to oversee the industries they once worked for. But just immobilizing government through staff cuts is somewhat new, at least at the level that Trump has employed it. Prosecutorial discretion is an established way to shift government priorities. But most of these agency depopulations make it impossible for the federal government to fulfill its statutory responsibilities, even though these agencies have been established and authorized and funded by Congress. When you make these offices nonfunctional, you're not taking care that the laws are faithfully executed.

More on Musk and DOGE:

Elie Honig: [04-04] Trump's war on big law. Not that I have any sympathy for the law firms Trump has tried to shake down -- least of all for the ones who so readily surrendered -- but this is one Trump story I had little if any reason to anticipate. Trump must be the most litigious person in world history -- James D Zirin even wrote a book about this, Plaintiff in Chief: A Portrait of Donald Trump in 3,500 Lawsuits. One good rule of thumb is that anyone involved, even inadvertently, in 1% of that many lawsuits is unfit for office.

Branko Marcetic: [04-04] Trump Promised Free Speech Defense and Delivered the Opposite. Hard to believe that anyone fell for that one.

Nina Quinn Eichacker: [04-05] The End of Exorbitant Privilege as We Know it: Some technical discussion of the pluses and minuses of seeking trade surpluses, noting that the advantages aren't large, and that for an economy as large as the US the costs of running persistent deficits aren't great -- barring some unforseen disaster, which leads to this:

But what the Trump administration seems to really be trying to do is demolish that exorbitant privilege, by torching any desire from countries around the world to purchase goods from the US, and to form economic alliances that insulate them from the chaos coming from inside the US government. People ask me all the time whether I think that there's a point at which the US could have too much debt, and I've always said that something really catastrophic would have to happen for the US to be deposed as the currency hegemon of the world. Now I think we're teetering on the brink, and I hate it.

The author also notes: "Will these tariffs lead to more manufacturing? They're a painful way to get ther, with a lot of degrowth along the way."

Adam Tooze: [04-07] Chartbook 369 Are we on the edge of a major financial crisis? Trump's Chart of Death and why bonds not equities are the big story. I can't say I'm following all of this, but I am familiar with the notion that equity and bond markets normally balance each other out, so the idea that both are way out of whack seems serious. And the odds for the "Trump is a genius" explanation are vanishingly small.

Current count: 69 links, 6281 words (7446 total)

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