@econdude.bsky.social
Kevin Christ, Emeritus Professor of Economics, Rose-Hulman Institute of Technology. International Trade Economist and Historian of Economic Thought.
This was totally predictable. When will Republicans learn that there is no free will, only THE will of the leader? Their Faustian bargain for power comes at terrible cost.
indianacapitalchronicle.com/2025/11/16/t...
indianacapitalchronicle.com/2025/11/16/t...
Trump targets Gov. Mike Braun, Senate Republicans in redistricting spat • Indiana Capital Chronicle
President Donald Trump on Sunday called out two "RINO Senators" as well as Gov. Mike Braun for the state's failure to move forward with redistricting
indianacapitalchronicle.com
November 17, 2025 at 7:21 PM
This was totally predictable. When will Republicans learn that there is no free will, only THE will of the leader? Their Faustian bargain for power comes at terrible cost.
indianacapitalchronicle.com/2025/11/16/t...
indianacapitalchronicle.com/2025/11/16/t...
Have been thinking about the term “Gleichschaltung” for some weeks now. Here it is.
This is one of those days when we all drown in breaking news - but if you can stomach it: Here is an attempt to step back from the noise and provide a synthesis of where America stands, one year after Trump’s election, and what might be next.
Escalation, “normalization,” or a democratic turnaround?
Escalation, “normalization,” or a democratic turnaround?
Where America stands, one year after the election.
A fascistic movement controls the government; they are building an authoritarian state; but they have not been able yet to extend authoritarian rule across society. A democracy no more, but not a consolidated autocratic regime yet.
New piece:
A fascistic movement controls the government; they are building an authoritarian state; but they have not been able yet to extend authoritarian rule across society. A democracy no more, but not a consolidated autocratic regime yet.
New piece:
November 4, 2025 at 7:56 PM
Have been thinking about the term “Gleichschaltung” for some weeks now. Here it is.
So Trump is upset about a commercial by the Province of Ontario featuring Reagan arguing against protectionism. Why is DT so afraid to engage in a debate over ideas? Perhaps his aren’t that good?
on.ft.com/49kWJFH Trump says he is ending trade negotiations with Canada
on.ft.com/49kWJFH Trump says he is ending trade negotiations with Canada
Trump says he is ending trade negotiations with Canada
US president voices anger at anti-tariff advertisement by province of Ontario
on.ft.com
October 24, 2025 at 11:24 AM
So Trump is upset about a commercial by the Province of Ontario featuring Reagan arguing against protectionism. Why is DT so afraid to engage in a debate over ideas? Perhaps his aren’t that good?
on.ft.com/49kWJFH Trump says he is ending trade negotiations with Canada
on.ft.com/49kWJFH Trump says he is ending trade negotiations with Canada
October 15, 1929: Yale economist Irving Fisher told the Purchasing Agents Association that stock prices had reached “what looks like a permanently high plateau.”
October 15, 2025 at 1:16 PM
October 15, 1929: Yale economist Irving Fisher told the Purchasing Agents Association that stock prices had reached “what looks like a permanently high plateau.”
Tim Cook presented Donald Trump with an engraved plate on a gold base on August 6. Apple stock opened at $205.63 that day, and closed at $256.10 today, just under $750 billion increase in market cap. We don’t know the cost of the gift, but it seems to have been one of Apple’s better investments.
September 23, 2025 at 2:01 AM
Tim Cook presented Donald Trump with an engraved plate on a gold base on August 6. Apple stock opened at $205.63 that day, and closed at $256.10 today, just under $750 billion increase in market cap. We don’t know the cost of the gift, but it seems to have been one of Apple’s better investments.
R.I.P. Edward R. Murrow, Walter Cronkite, Eric Sevareid, Roger Mudd, Charles Kuralt, Daniel Schorr, Morley Safer, Journalism as a public good…
What’s happening to CBS News is neither complicated nor subtle.
www.mediamatters.org/cbs/how-cbs-...
www.mediamatters.org/cbs/how-cbs-...
September 9, 2025 at 10:40 PM
R.I.P. Edward R. Murrow, Walter Cronkite, Eric Sevareid, Roger Mudd, Charles Kuralt, Daniel Schorr, Morley Safer, Journalism as a public good…
Reposted
Someone should write a book about how we got here. 🙃
The lowest share of Americans ever view capitalism positively and big business rates even worse in new Gallup data released today.
Americans give capitalism its lowest ever rating in new Gallup survey
A slim majority of Americans rate capitalism positively.
www.axios.com
September 9, 2025 at 2:08 PM
Someone should write a book about how we got here. 🙃
@drodrik.bsky.social
I’ve taught International Trade for more than twenty years, and this post was always linked on my course site under “Governance of Global Trade”.
Invaluable.
rodrik.typepad.com/dani_rodriks...
I’ve taught International Trade for more than twenty years, and this post was always linked on my course site under “Governance of Global Trade”.
Invaluable.
rodrik.typepad.com/dani_rodriks...
September 9, 2025 at 1:27 PM
@drodrik.bsky.social
I’ve taught International Trade for more than twenty years, and this post was always linked on my course site under “Governance of Global Trade”.
Invaluable.
rodrik.typepad.com/dani_rodriks...
I’ve taught International Trade for more than twenty years, and this post was always linked on my course site under “Governance of Global Trade”.
Invaluable.
rodrik.typepad.com/dani_rodriks...
@justinwolfers.bsky.social
Professor Wolfers is right. We are allowing state capitalism to replace market capitalism, and economic nationalism to replace globalism. We are meekly allowing a political movement to erode our children’s futures.
Professor Wolfers is right. We are allowing state capitalism to replace market capitalism, and economic nationalism to replace globalism. We are meekly allowing a political movement to erode our children’s futures.
Lemme speak with directness and a sense of urgency about our most important economic threats, and what history teaches us about moments like this.
September 7, 2025 at 6:59 PM
@justinwolfers.bsky.social
Professor Wolfers is right. We are allowing state capitalism to replace market capitalism, and economic nationalism to replace globalism. We are meekly allowing a political movement to erode our children’s futures.
Professor Wolfers is right. We are allowing state capitalism to replace market capitalism, and economic nationalism to replace globalism. We are meekly allowing a political movement to erode our children’s futures.
@codendahl.bsky.social
“…but the time frame and precise implementation were left undefined.”
Given the scale of recent FDI by Japan into the U.S. (~75b in 2024), perhaps we should be more than a little skeptical?
“…but the time frame and precise implementation were left undefined.”
Given the scale of recent FDI by Japan into the U.S. (~75b in 2024), perhaps we should be more than a little skeptical?
"For the first time ever, President Trump will literally direct these investments for the benefit of America." HT @monapaulsen.bsky.social www.japantimes.co.jp/business/202...
Japan's $550 billion investment pledge outlined in MOU
U.S. President Donald Trump will direct the investments and the projects funded by Japan will be controlled by the United States.
www.japantimes.co.jp
September 7, 2025 at 12:17 PM
@codendahl.bsky.social
“…but the time frame and precise implementation were left undefined.”
Given the scale of recent FDI by Japan into the U.S. (~75b in 2024), perhaps we should be more than a little skeptical?
“…but the time frame and precise implementation were left undefined.”
Given the scale of recent FDI by Japan into the U.S. (~75b in 2024), perhaps we should be more than a little skeptical?
Reposted
Kamala Harris warned the American people that this would happen . . .
April 3, 2025 at 8:03 PM
Kamala Harris warned the American people that this would happen . . .
Reposted
In my most recent piece, for the IMF's F&D Magazine, I argue that a fixation on tariffs obscures the many ways industrial policies are also effectively trade policies. Anything that alters a country's domestic imbalance must also alter its external imbalance.
www.imf.org/en/Publicati...
www.imf.org/en/Publicati...
Behind the Veil of Tariff Fixation
The world needs a broader conception of trade policy that considers how economies allocate income
www.imf.org
September 4, 2025 at 3:12 AM
In my most recent piece, for the IMF's F&D Magazine, I argue that a fixation on tariffs obscures the many ways industrial policies are also effectively trade policies. Anything that alters a country's domestic imbalance must also alter its external imbalance.
www.imf.org/en/Publicati...
www.imf.org/en/Publicati...
@billkristolbulwark.bsky.social
Bill Kristol reminds us what true patriotism looks and sounds like.
Bill Kristol reminds us what true patriotism looks and sounds like.
Powerful piece by @markhertling.bsky.social.
“I am infuriated that the Air Force plans to grant military funeral honors to Ashli Babbitt. She did not die defending the Constitution. She died trying to overturn it.”
www.thebulwark.com/p/honoring-a...
“I am infuriated that the Air Force plans to grant military funeral honors to Ashli Babbitt. She did not die defending the Constitution. She died trying to overturn it.”
www.thebulwark.com/p/honoring-a...
Honoring Ashli Babbitt Dishonors the Military
If there’s no difference between upholding the Constitution and attacking it, then there’s no honor in service.
www.thebulwark.com
September 1, 2025 at 2:40 PM
@billkristolbulwark.bsky.social
Bill Kristol reminds us what true patriotism looks and sounds like.
Bill Kristol reminds us what true patriotism looks and sounds like.
A rare thing to hear such unvarnished realism from a politician at this level.
Interesting speech by European Council president Costa at the Bled Forum today
Confirms security / Ukraine aspect of EU US deal that VDL pushed back strongly against. Clear break here
Confirms security / Ukraine aspect of EU US deal that VDL pushed back strongly against. Clear break here
September 1, 2025 at 1:45 PM
A rare thing to hear such unvarnished realism from a politician at this level.
Reposted
Lesson for today: the dollar is "a" reserve currency, not "the" reserve currency cepr.net/publications...
Being a Reserve Currency Is Not a Zero-One Proposition
The dollar remains the leading reserve currency, but Trump-driven instability—not mass flight—raises US borrowing costs as investors quietly diversify.
cepr.net
August 27, 2025 at 4:09 PM
Lesson for today: the dollar is "a" reserve currency, not "the" reserve currency cepr.net/publications...
… if the Fed becomes just another puppet with Trump pulling the strings, then politically motivated decisions about credit conditions could lead to a resurgence of inflation.
open.substack.com/pub/kpcecon/...
open.substack.com/pub/kpcecon/...
August 27, 2025 at 1:14 PM
… if the Fed becomes just another puppet with Trump pulling the strings, then politically motivated decisions about credit conditions could lead to a resurgence of inflation.
open.substack.com/pub/kpcecon/...
open.substack.com/pub/kpcecon/...
Reposted
It's called fascism. Fascist regimes, like Mussolini's Italy, directly nationalized some businesses. American journalists need reminding that this isn't necessarily a 'socialist' thing. Articles like this don't help the public interpret what's happening in the US. www.theatlantic.com/newsletters/...
Trump’s Right-Wing Socialism
The president is embodying the type of big government that right-wing politicians and thinkers have been warning about for a century.
www.theatlantic.com
August 26, 2025 at 6:25 AM
It's called fascism. Fascist regimes, like Mussolini's Italy, directly nationalized some businesses. American journalists need reminding that this isn't necessarily a 'socialist' thing. Articles like this don't help the public interpret what's happening in the US. www.theatlantic.com/newsletters/...
This is a fundamental point. The irony of a convicted fraudster using alleged fraud as a pretext for his attempt to control another key institution of our society is … I’m sorry, I don’t know what it is other than sad and pathetic.
If Trump supporters actually found mortgage fraud to be disqualifying for high public office, they would not be Trump supporters.
August 26, 2025 at 3:38 AM
This is a fundamental point. The irony of a convicted fraudster using alleged fraud as a pretext for his attempt to control another key institution of our society is … I’m sorry, I don’t know what it is other than sad and pathetic.
Reposted
CNBC: So we should expect the US government to be taking more equity stakes in businesses around the country?
KEVIN HASSETT: It's possible, yeah. That's absolutely right.
KEVIN HASSETT: It's possible, yeah. That's absolutely right.
August 25, 2025 at 1:40 PM
CNBC: So we should expect the US government to be taking more equity stakes in businesses around the country?
KEVIN HASSETT: It's possible, yeah. That's absolutely right.
KEVIN HASSETT: It's possible, yeah. That's absolutely right.
Those were the days my friend…
Maybe the tariffs will be tomorrow. Maybe next month. Maybe on you. Maybe not 🤷♂️
The kids these days will hardly believe it, but way back when a Black Democrat was President, conservatives pretended to be deeply concerned about this thing called "business uncertainty." Such quaint times, they were.
The kids these days will hardly believe it, but way back when a Black Democrat was President, conservatives pretended to be deeply concerned about this thing called "business uncertainty." Such quaint times, they were.
August 25, 2025 at 11:05 AM
Those were the days my friend…
“A large-scale flow of capital from poor countries to the world’s richest nations is perverse…” Martin Wolf, Fixing Global Finance (2010)
1/9
FT: "investors worldwide were already nervous about owning too many US dollar investments. This news only energised a growing conviction by them to seek other places to put their money, including the emerging markets."
www.ft.com/content/85e5...
FT: "investors worldwide were already nervous about owning too many US dollar investments. This news only energised a growing conviction by them to seek other places to put their money, including the emerging markets."
www.ft.com/content/85e5...
Fiscal dominance and the unexpected rise of emerging markets
Developed markets have a debt problem — some investors are looking elsewhere
www.ft.com
August 24, 2025 at 6:42 PM
“A large-scale flow of capital from poor countries to the world’s richest nations is perverse…” Martin Wolf, Fixing Global Finance (2010)
Good thread here:
Pettis: “I am not sure this is actually happening …but if it were, it would be a very good thing. Capital should not flow from fast-growing, capital-poor economies to slower-growing capital-rich economies. It should flow in the opposite direction.”
Pettis: “I am not sure this is actually happening …but if it were, it would be a very good thing. Capital should not flow from fast-growing, capital-poor economies to slower-growing capital-rich economies. It should flow in the opposite direction.”
1/9
FT: "investors worldwide were already nervous about owning too many US dollar investments. This news only energised a growing conviction by them to seek other places to put their money, including the emerging markets."
www.ft.com/content/85e5...
FT: "investors worldwide were already nervous about owning too many US dollar investments. This news only energised a growing conviction by them to seek other places to put their money, including the emerging markets."
www.ft.com/content/85e5...
Fiscal dominance and the unexpected rise of emerging markets
Developed markets have a debt problem — some investors are looking elsewhere
www.ft.com
August 24, 2025 at 12:28 PM
Good thread here:
Pettis: “I am not sure this is actually happening …but if it were, it would be a very good thing. Capital should not flow from fast-growing, capital-poor economies to slower-growing capital-rich economies. It should flow in the opposite direction.”
Pettis: “I am not sure this is actually happening …but if it were, it would be a very good thing. Capital should not flow from fast-growing, capital-poor economies to slower-growing capital-rich economies. It should flow in the opposite direction.”
Reposted
“Freedom is a fragile thing and it's never more than one generation away from extinction. It is not ours by way of inheritance; it must be fought for and defended constantly by each generation.”
— Ronald Reagan, Inaugural Address as CA Governor, Jan. 5, 1967.
www.washingtonpost.com/national-sec...
— Ronald Reagan, Inaugural Address as CA Governor, Jan. 5, 1967.
www.washingtonpost.com/national-sec...
Pentagon plans military deployment in Chicago as Trump eyes crackdown
President Donald Trump said Chicago is his next likely target to crack down on urban crime. Military planning has been ongoing for weeks, officials say.
www.washingtonpost.com
August 24, 2025 at 12:31 AM
“Freedom is a fragile thing and it's never more than one generation away from extinction. It is not ours by way of inheritance; it must be fought for and defended constantly by each generation.”
— Ronald Reagan, Inaugural Address as CA Governor, Jan. 5, 1967.
www.washingtonpost.com/national-sec...
— Ronald Reagan, Inaugural Address as CA Governor, Jan. 5, 1967.
www.washingtonpost.com/national-sec...
Reposted
As AI-related investment has risen since 2023, residential and nonresidential investment have declined or flatlined. This may suggest that a relatively rate-insensitive AI buildout is crowding out more interest-sensitive forms of investment.
www.economist.com/finance-and-...
www.economist.com/finance-and-...
How America’s AI boom is squeezing the rest of the economy
Beware the data-centre takeover
www.economist.com
August 23, 2025 at 10:18 AM
As AI-related investment has risen since 2023, residential and nonresidential investment have declined or flatlined. This may suggest that a relatively rate-insensitive AI buildout is crowding out more interest-sensitive forms of investment.
www.economist.com/finance-and-...
www.economist.com/finance-and-...