Had to google but fine work this is.

Performative decency is actually *so* important for this reason.

It tricks the 10% of ghouls into thinking that there are only 1% of ghouls.

And it makes the 30% of people that don't care one way or another follow the mostly decent crowd

I'm increasingly convinced this is the main persuasive mechanism of media, and especially social media. media, especially social media, provides a vivid sense of "what everyone thinks," which causes the viewer to then shift their view so they can fit in with everyone, and be liked and not ostracized

Cambridge debates taught us that capital isn't as fungible as the basic f(K,L) models would have us believe. But frankly neither is consumption.

In other words there isn’t the same demand for batteries as real estate nor are there production processes taking the same inputs. The fungible part is money aka how elastic the budget can be made but the outcomes won’t be the same.

Even within the bottom decile, which has enjoyed real wage increase, there will surely be some percentage that haven't. Diversity of consumption basket is another driver.

I wonder if its distributional impact of inflation on different income cohorts issue. There are perhaps some income cohorts that have faced outright real wage decreases. Think stagnant salaries for people in the quartile 2 and 3 of income distribution is the driver.

Simply: forget 4.3% rate. Take yer boring dollar, turn into a stablecoin. Stake it/lock in a box, create a synthetic. Lend out in an opaque unregulated market, which turns the proxy into a virtual bean, which is planted in virtual fields. If beans grow, earn "yield", paid in beans.

Right, at least their intent was to be good at producing stuff even if it was partly driven by financialization. But private equity portfolio is almost all about leveraging

Overvalued US dollar and legacy of political economy of 1970s and 80s inflation contributing to financialization of US economy are two key drivers

Sports betting is a tiny proportion of gambling at Vegas. It was always the tables and the slots that were the big sources of revenue and draw. Also, most international tourists are from countries with legal sports betting. They’re coming for the shows and the glitz

Would be keen to read any research on impact of legalization of online sports betting on slump in Las Vegas

Was unaware of how he leans

I am sure the work of @timleunig.bsky.social is being used by policy makers. He has thought this through. www.ukonward.com/wp-content/u...

One possible path is that lot of planned investment in 2026 and beyond is pulled back. If that happens, and because this spending is a large share of GDP growth, Fed will have to react very aggressively to avoid a recession. Interesting times ahead given it will be very hard to do more fiscal.

Good hotels and bars attract young people, which attracts companies trying to find alternatives to London for office location. If there is political will to embrace free EU migration, English-speaking places with great weather (at least in summer) and lots of things to do can be very attractive.

Been thinking along the same line in last few weeks. We are increasingly getting amazing summer weather but our infra is lousy.