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BESSENT: IRS WILL FORM TASK FORCE TO INVESTIGATE FRAUD INVOLVING COVID TAX INCENTIVES

Average monthly job growth since April (Liberation Day): USA: ==========+12k Canada: ======================+22k

China has twice as much power as the US, per Bloomberg:

Does having experienced a dictatorship within living memory give societies stronger stomachs for responding to attempted coups?

Tariffs are imposed on goods, not services, so let's check in on that breakdown. Since "Liberation Day": - Goods-producing sector has shed -90,000 jobs - Private services have added +391,000 jobs (The government sector has also shed a further -207k jobs.)

If you want to focus on insurance company overhead and profit, Medicare Advantage is the market that stands out as an outlier.

Victoria’s Secret $VSCO is now up over 230% since announcing they are bringing back the Fashion Show generational wealth missed again.

Job Growth Before and After Liberation Day

Financial Times: US shale bosses have warned Trump that his mission to seize Venezuela’s oil sector and drive down crude prices will put American output on the chopping block. “We’re talking about this administration screwing us over again,” said a top executive at one of the country’s leading shale groups, describing the plans as “against American producers”.

Underemployment rate for recent college graduates rose to 41.8%, per New York Fed.

@SkyVasko @BaldingsWorld The author's implied theory is that robust GDP growth with flat hiring and layoffs points to surging productivity—likely from tech/AI efficiencies—allowing economic expansion without net job additions.

Visa $V Annual Report 2025: Manual entry guest checkout is headed toward extinction, replaced by seamless, secure and frictionless payment experiences We are giving all the data to $AAPL pay and $GOOGL pay

Happy 19th Birthday the first iPhone! Introducing the first iPhone on Apple's website on January 9, 2007

Well, the White House meeting on Venezuelan oil isn’t going well for ConocoPhillips — Trump pretty much told CEO Ryan Lance to forget about the $12 billion the company is owed by Caracas (no way that’s going to happen)

Counter to the prevailing view, soft skills more than quantitative competency have seen the biggest rewards in the labour market over recent years, writes John Burn-Murdoch. ft.trib.al/Kf3UYah

If ICE agents can't handle mild public disturbances without resorting to lethal force, maybe they shouldn't be strutting around streets like packs of tough-guys

Manufacturing overall is contracting. If you drill down you'll see metal manufacturing is doing ok, because Trump pummeled their competition with tariffs. Meanwhile the downstream US firms that have to *buy* more expensive metal (machinery, autos) are screwed.

San Diego builds 50% more than LA per capita terms, and 3x (!) SF. City officials in LA and SF like to blame macro factors, but macro factors also affect SD. What's different? All things city officials control: zoning reform, fast/predictable permitting, low fees...

Thanks to a series YIMBY reforms—and high-quality administration—in San Diego, the city has been in the midst of a building boom, even as construction has plummeted elsewhere. The result? Rents are down six months in a row.

Because we haven’t been building enough housing since the 1970s 🚫🏡