Gustav Peebles

@m477h3wT @SaraForTexLege @APazyryk apnews.com/article/iran-c…

@SaraForTexLege @APazyryk show us a memo

Yep. Memos going out to hospitals around the country. There are so many downstream elements to this war that people don’t even know about yet way beyond gas prices. Donald Trump chose to do this, and Congress chose to let him. Betrayal.

I was today’s years old when I learned that JM Keynes only had a bachelor’s degree. What a wild indicator of academic institutional change.

@RajaKorman Pls yes. Every week.

Might start doing this more often. A roundup of the week in visual gags.

It would be nice if people remembered this piece of wisdom from the greatest economics tweet in history (and the one I am most insanely jealous of not having written, especially because it was a reply to me).

''When Small men begin to cast big shadows, it means that the sun is about to set.' - Lin Yutang

@MaxJerneck @erraticleninist Visste inte att du hade en podd. Kan du posta länken?

@erraticleninist Yes, doing a podcast and review

Needless to say, this is very good

@speechboy71 @StefanMcGrath I've long thought that there should be a gigantic interactive art project where people put refrigerators and locked storage bins out on the street, just to take the veil from car-owners' eyes.

@speechboy71 I'm with @StefanMcGrath. There are literally NO other private goods in the entire economy that allow you to freely seize valuable square footage of public space. Permitting for private parking on public streets is standard in countless other cities, both in the USA & abroad.

Nothing quite says “let’s make NYC affordable for the middle class” than making people who can’t afford to put their cars in garages pay for street parking

@tomhfh @irgarner So tell your friend to get reeducated for a low income job if he really wants to migrate. C’mon. If you yourself are finance adjacent, you should easily grasp why the UK might to attract one type of worker and not another.

Meet the Health and Care Worker Visa: This was a subset of the Skilled Worker visa, specifically designed for roles in the NHS, private health providers, and adult social care. Despite being classified as "skilled," many positions (care assistants, home carers etc) required no formal qualifications, often just a basic certificate in care work or equivalent experience from the migrant's home country. Employers, approved by the Home Office as sponsors, could issue a Certificate of Sponsorship to overseas applicants, outlining the job offer. The minimum salary threshold just £20,480 per year. Applicants only needed to demonstrate basic English skills: an IELTS test score of 4.0 or equivalent, equating to just elementary proficiency, enough for simple conversations, not advanced literacy. Migrants from English speaking countries (Nigeria, Zimbabwe etc) could sometimes bypass testing with evidence of basic education in English. No university degree was required for care roles; a vocational qualification or on the job training sufficed. This opened the door to semi literate applicants with no formal education. The system did not rigorously assess "cultural compatibility," focusing instead on job fit and basic eligibility. On top of it all, visa holders could bring along their family members (spouses, children). After five years, migrants could apply for Indefinite Leave to Remain, which had a grant rate over 98% if they met residency rules, paid fees, and had no serious criminal record. In 2022-2023, this route alone saw hundreds of thousands of grants.

A friend is looking to move to here to work in finance. He went to a top uni and speaks better English than I do. Yet the process for him is, bluntly, a nightmare. Meanwhile we have allowed the semi literate, utterly unskilled, and culturally incompatible to simply swan in.

@MattZeitlin @TiltingatM3 Not quite what you’re looking for but harmonizes w some of it…. press.princeton.edu/books/paperbac…

is there a good group biography of the marginalists/the marginal revolution

@TheStalwart Nitpicky point because the rest is convincing, but right off the bat he’s got “thank you”.

Verbs aren't really necessary are they? Here's part of Christopher Waller's speech yesterday without verbs. You'd hardly notice if you were just reading quickly.

@TheStalwart @arikaokrent

@RadioFreeTom You are the sacrificial lamb. You suffer through it on our behalf so that we might be free. God bless you.

People really need to be watching this. He’s losing his mind.

PhD student openings (salaried and with benefits) in our department. Pls spread the word. su.varbi.com/en/what:job/jo…

@michaeldweiss Honestly, I’m constantly in awe of your command of both vital and entirely trivial facts. You’re on another plane than the rest of us!

Saul Bellow had his orgone box phase, too. So did Arnold Deutsch, the NVKD officer who recruited Kim Philby and was an acolyte of Reich's in Vienna. And then of course there's the Kate Bush song that didn't make it into "Stranger Things," which is all about Reich's other crank device, as it were. Thank you for coming to my TED Talk. youtube.com/watch?v=pllRW9…

@dvassallo @bechtweets @rsnball Regardless of who pays the bill, doctors’ salaries are far higher in the USA and this also drives up the cost without necessarily delivering better care.

@bechtweets @rsnball Probably yes

Yeah but it’s literally free here in the UK and should be everywhere

@Valen10Francois E.g.,

@Valen10Francois Do we know, beyond a shadow of a doubt, that stats coming from the US executive branch are trustworthy?

It's because of stats like these that the US can ultimately bully Europeans when they want to EU growth is at a fraction of that, compounded over many years and we are left stranded Growth and wealth build power, Europeans need to appreciate this again

@izakaminska But surely you acknowledge that globally dominant currencies can lose their dominance over time. You can’t possibly be saying the dollar will be the globe’s dominant reserve currency for all time. So the question is, how does that demise occur?

Gonna spell this out explicitly. The whole “Europe is bravely dumping Treasuries to stick it to evil America” story is mostly nonsense propaganda created to disguise the truth to ordinary European citizens who don't have the knowledge about how financial plumbing actually works. In reality, Europe has very little real leverage here. Trying to weaponise Treasury sales would hurt Europe dramatically more than it hurts the US — and could end up forcing Europe to beg China for help instead. European governments know this deep down and are unlikely to actually do it voluntarily. The Greenland story is mostly posturing — Europe pushing back a bit, but ultimately having to give in because the financial asymmetry is so one-sided. Europe dumping (or massively selling) US Treasuries to “punish” or weaken America is a terrible idea that would backfire badly on Europe itself. Here's the simple version of why Europe still really needs dollars. Lots of European banks, companies and investors operate in dollars — they borrow in dollars, lend in dollars, trade in dollars, etc. They depend on a steady supply of dollars to keep everything running smoothly. The US can cut off easy dollar access. In a crisis the Federal Reserve (US central bank) provides dollars to Europe through special “swap lines”. These were super important in 2008 and 2020 to prevent European banks from collapsing. If the US gets angry (e.g. over Greenland/tariffs or bigger conflict), it can simply turn those swap lines off. Selling Treasuries creates a dollar shortage in Europe If European pension funds / asset managers sell huge amounts of US Treasuries: They get dollars back. But then those dollars either go back into European banks (which then buy Treasuries again → no real change) or leave the European system → European banks suddenly run short of dollars they need to fund their dollar loans and activities. → This triggers a panic, the euro crashes against the dollar, and Europe gets a currency & banking crisis. No swap lines = no easy fix Without Fed help, Europe can't get enough dollars quickly. Banks and companies start defaulting, businesses can't function normally, people get poorer. It's basically self-harm. The only other big source of spare dollars is… China Japan is aligned with the US, so that leaves China. But China would demand a very high price — probably political/economic concessions that would make Europe far more dependent on Beijing (and indirectly on Russian energy via China). Europe would basically be swapping US “vassal” status for Chinese “vassal” status… on much worse terms. Well done Europe in that case. So much for your ESG principles.

We will only use it's biological name