Peter Holmes
pholmes8.bsky.social
Peter Holmes
@pholmes8.bsky.social

Semi-retired trade economist, Emeritus @ UKTPO Sussex. Posts about Brexit, Freeports, WTO and anything else that catches my fancy. Migrating across from other place. Tweeted as @pholmes8. Blogs with others at https://blogs.sussex.ac.uk/uktpo/blog/ .. more

Economics 44%
Political science 25%

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just resting. The money. It was just resting in my account.

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Paying external consultants big numbers in order to cut costs

Big pay increases for top management for having worked so hard to repeat this mantra.

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Also interesting, I thought
Messages between SB (Steve Bannon?) and Bozo Johnson.
CNN is reporting the real reason Trump is closing the Kennedy Centre for two years is not for renovation: “the Kennedy Center does not have a 2026/2027 season. There would not have been any programming to announce."

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A new email from the Epstein Files reveals that Peter Thiel and Epstein were also meddling in Brexit. That would make a second foreign intrusion into the campaign along with Putin.

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When historians reflect on this regime, cruelty will be the word most often used to define it. www.mprnews.org/story/2026/0...
Deputy attorney general says administration will appeal order to release 5-year-old from ICE custody
Deputy Attorney General Todd Blanche said in an interview that the Trump administration will appeal a federal judge’s decision to release a 5-year-old and his father from ICE custody in Texas.
www.mprnews.org

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The PM's internal opponents will surely use the latest Mandelson revelations to emphasise his lack of political judgement in appointing Mandelson Ambassador to the US.

You'd think McSweeney's internal opponents, if they have a lick of sense, would start emphasising his own Mandelson relationship...
Three parties - SNP, Lib Dems and Plaid Cymru - now asking for the police to investigate Mandelson.

Hard to recall a worse public scandal than a cabinet minister allegedly colluding with foreign bankers to share market sensitive info and encourage threats against Chancellor

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the mad thing is that when Mandelson went on the BBC earlier this month for a grand Sunday geopolitical interview, he knew that the FT knew about the Epstein payments to his husband, and that they were about to come out

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BLAKE AUSTIN
IAN AUSTIN
CALL: US Marshal’s office and request / demand Ian Austin’s IMMEDIATE release from the Sherburne County Jail in Minnesota: 612-664-5900

CALL IAN’S STATE REPS IN PA & MN, and demand his immediate release.
Who leaked this Number 10 discussion to Jeffrey Epstein? And are there consequences for the leaker?

It’s an internal discussion re. getting markets moving in the aftermath of the financial crisis. No doubt of great interest to Epstein and his financial market clients.

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As ever, the UK's deeply secretive approach to trade talks does them few favours with stakeholder frustration in particular preventing what should be a regular public engagement in Brussels. And thus does the Brexit circus roll-on unsatisfactorily.

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Both Peter Mandelson and Michelle Mone are on "leave of absence" from the Lords.

members.parliament.uk/members/lords

#R4Today

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Private equity owns lion’s share of children’s foster services in England, ‘bleeding the sector of money’.

Profits margins of 19%. Money extracted in interest payments, intragroup charges. Children suffer.

Ban profit-taking entities from foster services.
Private equity owns lion’s share of children’s foster ser...
Three London firms are now the biggest players in the provision of foster carers in England
observer.co.uk
TRUMP TODAY: There was an election in Texas? What?

TRUMP YESTERDAY:
It looks for all the world like “anti-global elite” Nigel Farage is obtaining huge donations by routing them from a “high risk” Kazakhstani / Iranian billionaire via a proxy company, flouting restrictions on foreign donations.
It should not take a court order to get a toddler out of a prison.

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Donald Trump is mentioned hundreds of times in the latest batch of Epstein files. Among the new documents is a list compiled by the FBI last year of allegations made against Trump by callers to its national Threat Operation Center tip line.

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Krugman: "We don’t know what the US scene will look like a month from now, let alone in 2029, but if we have a non- Trump-like administration going forward, will we kind of go back to something like a rules-based system?"

Bown: "I think it makes too much sense not to."

Makes sense to me too.
Huge thanks to @pkrugman.bsky.social for the invite to be on the show — really fun conversation on all things trade policy, tariffs, and global weirdness.

Also confirming for family record-keeping purposes: this is indeed my “talking to a Nobel Laureate” face.
Talking with Chad Bown
YouTube video by Paul Krugman
youtu.be
Do you get it now?

'At the start of Donald Trump’s first term, he promised that he and his family would never do anything that might even be “perceived to be exploitive of office of the Presidency.”
By contrast, his second term looks rapacious.'
www.newyorker.com/news/a-repor...
Trump’s Profiteering Hits $4 Billion
In August, I reported that the President and his family had made $3.4 billion by leveraging his position. After his first year back in office, the number has ballooned.
www.newyorker.com
New from me: It is not just that the US is experiencing democratic backsliding. Authoritarianism has emerged more quickly than in other benchmark countries.

This graph from John Burn-Murdoch sums it up. 🧵
donmoynihan.substack.com/p/autocracy-...
I’ve written this lengthy FT analysis overnight about the multiple multi-thousand pound Epstein payments to Mandelson’s husband

these particular paragraphs are worth reading slowly

www.ft.com/content/608a...
and no I haven't put the Mandelson-Epstein-Reinaldo scoop on twitter

we journalists *can* make Bluesky the place to break news
BIG news from @bloomberg.com, which confirms that ICE has gone ahead and *purchased* multiple commercial warehouses with the aim of converting them into mass detention camps.

This is likely to be the big detention story of 2026 — literal warehousing of people.
www.bloomberg.com/news/feature...
ICE Begins Buying ‘Mega’ Warehouse Detention Centers Across US
Plans for such centers and jails in nearly two dozen communities have sparked protests over suitability, proximity to homes and schools.
www.bloomberg.com
I'm not prone to exaggeration but this is probably the biggest scoop I've ever been involved in

Mandelson's partner took £10,000 from Epstein to pay for his osteopath course while Mandelson was de facto UK deputy prime minister, according to new files

more to follow

www.ft.com/content/c950...
Jeffrey Epstein sent £10,000 to Mandelson’s husband, emails show
Epstein sent Reinaldo Avila da Silva payment in 2009
www.ft.com
Blanche on Renee Good: "There are thousands -- unfortunately -- of law enforcement events every year where somebody is shot. The civil rights department of the DOJ does not investigate every one of those shootings."

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Despite worrying headwinds, there are encouraging signs in the data about the UK's future productivity growth.

Sophie Hale talks us through ⤵️