Director of International Economics, CFR. Award-winning author, THE WORLD THAT WASN'T, THE MARSHALL PLAN, & THE BATTLE OF BRETTON WOODS. Views mine. RT≠♥, ♥≠♥.
Republicans won't talk about America's surging oil output because a Dem did it. And Dems won't talk about America's surging oil output because a Dem did it.
The most under-covered contributor to US economic resilience — because neither party has the political incentive to celebrate it, or even discuss it. 🇺🇸
#OOTT
Massive marches against anti-Semitism in Washington and major cities in France. No violence. No vandalism. No hate. Just basic human decency and empathy.
Hundreds of thousands of people across France marched on Sunday against rising antisemitism.
Thank you to everyone who came out to show support and solidarity with the Jewish community at this difficult time.
Breaking News: A judge limited Biden administration officials from contacting social media sites, a ruling that could curtail efforts to fight disinformation.
“I’m addressing you, your honour, and the prosecution. Aren’t you afraid to witness what our country is turning into? Aren’t you afraid that not only you and your children but, God forbid, your grandchildren will have to live in this dystopia?”
The Oxford Union will provide emergency “welfare resources”, including "welfare officers" specially trained to offer counselling, to help students cope psychologically with a talk by gender critical Professor of Philosophy Kathleen Stock later this month.
The entry of the strayed balloon into US airspace was a purely unintended, unexpected and isolated incident. It tests, however, whether the US is sincere about stabilizing and improving its relations with China and whether it can properly manage a crisis.
Nothing but credit to
@Mike_Pence
. This is the courage many lack. Mike earned his stripes on J6 & earned them again here. He knows the threat Trump poses & won’t support him in November.
Others should follow. This is a
#PrinciplesFirst
move. Let’s roll.
In one sentence, Griffiths tells us all we need to know about why
@UNRWA
is infested with Hamas members, including some who planned and carried out the October 7 massacres.
UN Under-Secretary-General for Humanitarian Affairs Martin Griffiths: “Hamas is not a terrorist group. For us, of course, as you know, it’s a political movement.”
Let's see if we can fix this for Mohamad, yes? Here we go . . .
"Billions of people around the globe are about to celebrate the birthday of a Jewish man, born in Bet Lehem, in the Judean hills, 2000+ years ago, but don't think Jews lived there before 1948."
Billions of people around the globe are about to celebrate the birthday of a Palestinian man, born in Bethlehem 2000+ years ago, but don't think Palestinians lived there before 1948.
Hit a police officer on the head "to get his attention" and what do you expect will happen to you? It doesn't matter whether you're protesting against Israel, Hamas, or Chinese New Year.
Here’s that Professor of Economics who was arrested at Emory university and everyone seems to think is some poor victim of police repression. Caroline Fohlin ADMITS she hit a police officer on the head. Even professors are not allowed to assault cops. Yes, even professors.
Linda Sarsour warns that the "little people" who film those who rip down "their little posters" are "provocateurs" - provocateurs who are "on your college campus," "outside the supermarket"; they are "everywhere."
If someone talks like a Nazi, maybe it's not an accident.
Linda Sarsour: "There are provocateurs all across the city" waiting for you to rip down "their little posters ...They have their little people all around the city...They are everywhere. They are on your college campus, they are outside the supermarket..."
@lsarsour
"Every newspaper in America has a daily astrology column. How many have even a weekly science column?"
-Carl Sagan, 1987
The NYT used to have a Tuesday science supplement: "Science Times." It's gone. But they've boosted astrology content, along with content on race and gender.
@nytimes
Why are you changing her words? She said "forcing a trans child to go through puberty . . . is tantamount to torture." Did you think that "denying care" sounded more reasonable as a euphemism for not chemically blocking puberty?
There are no doubt conservatives (and liberals) driven by prejudice. But this piece is deeply misleading in suggesting that people who oppose, say, biological males in women's sports, or gender surgery for minors without parental approval, are so driven.
The presidents of
@Harvard
,
@MIT
, and
@Penn
were all asked the following question under oath at today’s congressional hearing on antisemitism:
Does calling for the genocide of Jews violate [your university’s] code of conduct or rules regarding bullying or harassment?
The
A Princeton student argues that some courses are unfair because not everyone is equally prepared:
“In order to effectively address this disparity, Princeton needs to re-evaluate the difficulty of the STEM introductory courses and implement equity-oriented solutions that directly
Joe Biden is making the most important vice-presidential choice since 1944. He can, and must, do better. He owes the country a new vice president.
My latest in
@Time
. . .
"PLACE supports the . . . Specialized High School Admissions Test, or SHSAT, and expanding gifted and talented programs. The group generally opposes lottery-based admissions and paring back screened admissions to the city’s middle and high schools."
This is "far right."
“It has not gone unnoticed…that many of those who are now demanding the right to protest have previously sought to curtail the speech of those whom they declared hateful.”
Excellent editorial by the NYT:
“Establishing a culture of openness and free expression is crucial to the
People rightly shake their heads in disgust and disbelief at Trump's comments - that the North could have "negotiated" away the conflict with the South over the abomination of slavery.
But too many of those same people believe the same thing with regard to Israel and Hamas.
Trump claims Civil War didn't have to happen: "You could've negotiated that ... this is something that could've been negotiated ... that was a tough one for our country ... if you negotiated it, you probably wouldn't even know who Abraham Lincoln was ... that would've been okay"
President Trump in New Hampshire: "I took on communist China like no administration in history, bringing in hundreds of billions of dollars, pouring right into our treasury -- when no other president in all of these years had ever gotten ten cents."
12/ The persistent and ballooning trade deficit is a stark, empirical refuation of the economic orthodoxy on trade. Hayek predicted the "self-regulating forces of the market" would keep exports and imports in balance.
@paulkrugman
called trade deficits "self-correcting." Nope.
Yesterday at New York University, this student led a teach-in on how North Korea has never formally recognized Israel, has always been an ally of Palestinian "self determination and resistance", and "actively armed and trained" the Palestinian resistance" for decades.
"So while
Students for Justice in Palestine negotiated an end to their encampment at UC Riverside and their biggest get appears to be a process they hope will lead to Sabra Hummus being banned from the dining halls. via
@TPM
Commerce Secretary Gina Raimondo said the US “won’t tolerate” the recent decision by Chinese authorities to ban chips by Micron Technology in some critical sectors
My latest in
@ForeignAffairs
reveals new details of Henry Wallace’s collusion with Stalin to undermine Truman during the 1948 presidential election campaign. The episode offers a red flag for the 2024 campaign.
A Genuine Case of Collusion
I am proud to announce the launch of my new CFR Global Inflation Tracker.
The tracker uses interactive maps and charts to reveal patterns in prices - including inflation components, such as energy and services - across 200 countries, going back to 1990.
I just gained a lot more respect for France's President Macron.
This is the actual telephone call between Macron and Putin 4 days before the Invasion of Ukraine.
It's a very tense conversation and shows Putin's extreme delusions about what was happening in Ukraine.
Happy b’day, “Bridge Over Troubled Water” — released today in 1970.
Paul Simon once explained how he wrote it specifically for Garfunkel — who wasn’t impressed.
“This is how partnerships break up.” 🙏🏼
(via
@BBCArchive
)
A Generation Lab poll found that 67% of U.S. university students consider the Hamas attacks terrorism, while 12% consider them a justified act of resistance.
A Hebrew University poll found that 77% of Arab Israeli citizens opposed the Hamas attacks. A mere 5% supported them.
Presidential historian Richard Norton Smith calls THE WORLD THAT WASN'T a "groundbreaking biography."
"Benn Steil comes closer than anyone before him to unraveling the enigma of this visionary hybrid of feeling and fact."
The
@wsj
reviews THE WORLD THAT WASN'T, my new political biography of Henry Wallace.
In it I document and detail Wallace's collusion with Stalin to undermine Truman during the 1948 presidential election campaign.
via
@WSJBooks
"How this counterfactual history [of a pro-Soviet American foreign policy and consigning Europe to Communist control] came close to happening, and how it was prevented, is the subject of Benn Steil’s definitive account, 'The World That Wasn’t.'" . . .
Beneath UNRWA’s Gaza Strip headquarters, the IDF has uncovered one of Hamas’s most significant and top secret assets: a subterranean data center used by the terror group for intelligence and communications.
The terror group built the server farm, complete with an electrical room
NATO's Article 5 collective defense clause has been invoked once since its creation in 1949. That was by America's allies after it was attacked on September 11, 2001. Trump should be ashamed, but shame appears not to be in his repertoire.
Grotesque and idiotic and a gift to our enemies. Even if what he was saying was true, by “realist” rules it still hurts America to talk this way without getting anything for it. Not clever foreign policy, it’s abject ignorance masquerading as seriousness.
My
@CFR_org
Sovereign Risk Tracker is updated.
Twelve countries now have our highest default-risk rating (10): Argentina, Belarus, Egypt, Ghana, Kenya, Lebanon, Pakistan, Russia, Sri Lanka, Tunisia, Ukraine, and Venezuela.
via
@CFR_org
"Why is it that 5 000 units of our currency is worth one unit of your currency, where we are the ones with the actual gold reserves? It's quite evident, in fact, that the aid is not coming from the west to Africa, but from Africa to the western world."
Mallence Bart-Williams
@jasonfurman
As opposed to the New Transitorians, led by Paul Krugman, who proclaim victory on the grounds that an immaculate disinflation took place against the background of impotent but somehow dangerous Fed rate hikes totaling 538 basis points.
An inflation update: in the past I've focused on a measure that excludes lagging shelter and used cars as well as food and energy. Just to note that it adds to the evidence that inflation has been largely defeated
It's almost four weeks since the horrific terrorist attack on
#Israel
. A lot has happened, the public debate has become heated and confused. Find thoughts from Vice-Chancellor Robert
#Habeck
in the video, putting the events in context. 📣With English, Hebrew and Arabic subtitles.
I used to think that Putin's invasion of Ukraine was a barbaric act of aggression, but I now understand that it was just as warranted as Hitler's invasion of Poland.
⚡️ Putin said the Poles forced Hitler to attack them in 1939.
Hitler just wanted to "realize his plans" and Poland was "uncooperative" and "forced" Hitler to attack and start World War II, Putin said.
So, 1939, late August.
Hitler: Poland, we want to annex you, agree!
Poland:
FDR “put Wallace on the precipice of the presidency, for which Wallace was grotesquely unsuited. This story is told in Benn Steil’s new biography THE WORLD THAT WASN’T, which should be read 𝒓𝒊𝒈𝒉𝒕 𝒏𝒐𝒘.”
- George Will
#BREAKING
Pro-palestine protesters DESTROY historic painting of Lord Balfour in Trinity College at the University of Cambridge, by spraying and then slashing it.
How do Westerners call for a "permanent ceasefire" with Hamas when Hamas insists, and has always insisted, that its war to eliminate Israel is permanent?
It’s Western cowards posing as leaders & diplomats who keep talking about ceasefires & concessions to aggressors, Russia and Hamas, that the aggressors themselves reject completely. Stop trying to make dictators and terrorists happy. You can’t unless you’re dead. Defeat them.
@crampell
You may also remember that progressives like Warren and AOC argued that behemoths such as Walmart were destroying jobs with everyday-low-prices, and then blamed them for creating greedflation.
@jasonfurman
During the GFC, prominent progressive economists supported price-level targeting. Now they're silent. The difference with today was, of course, that inflation was low and falling.
“A lesson of Steil’s timely, riveting biography [of Henry Wallace] is: Playing roulette with presidential successions is risky.”
- George Will
Roosevelt fixed his serious VP mistake. Will Biden?
Remember when it was the right backing creationism, and all manner of anti-science? Well, here it is now, loud and clear, from the left. Creation myths will be taught in our schools as being equal in epistemological value to evidence of the Big Bang.
Well, some of us thought we might be done, Others thought we really needed two more hikes. So we made this compromise. We would pause, but make scary hawk noises. It was awkward, sure, but, hey, what could we do?
- Powell on truth serum
via
@economics
This is what the
@AP
is calling a "protest" over a flight from Tel Aviv.
This is the same
@ap
which says that Palestinians have been killed while Jews have only "died".
Mobs break into the Makhachkala airport, in Russia’s north Caucasus, looking to lynch Jews after rumors spread about the arrival of Jewish refugees from Israel.
Why does the U.S. claim a perpetual right to appoint the World Bank president, but not the more important IMF head?
To cover up a spy scandal, of course:
The full story is told here:
Hamas-murdered-your-parents,-threw-you-in-a-van,-and-dragged-you-into-a-tunnel-below-a-Gaza-hospital-to-protect-you-from-your-fellow-Jews stands out as perhaps the stupidest take on what has quickly become the earth's stupidest-ever media site.
Imagine being an Israeli who has been kept alive in Gaza by Hamas amidst the unprecedented bombing campaign of Gaza by your government.
While Gazans are being killed, city blocks flattened, bombs and missiles falling continuously; and you have now witnessed and experienced all
"[A] groundbreaking biography. . . . Benn Steil comes closer than anyone before him to unraveling the enigma of this visionary hybrid of feeling and fact."
- Presidential historian Richard Norton Smith
Ro Khanna is "tired of economists reciting data." He wants to do commonsense things to address the housing shortage, like "cap rents."
We've tried facts and logic, people. It's time for change. We need ignorance.
I’m tired of economists reciting data to shame people into celebrating the economy when the price of groceries, gas, utilities, and rent is high. We need to go after big corporations and utilities pricing people out of the American Dream.
@Ayaan
Interesting piece, but I'm not buying the logic. The Crusaders were Christian. Tolerance is not a classically Christian virtue. It is a Stoic (pagan) one. And Stoicism does not require faith or even a deity to be spiritually fulfilling. Become a Stoic.
This story made my day . . .
"Teens come up with trigonometry proof for Pythagorean Theorem, a problem that stumped math world for centuries"
via
@60minutes
Hey
@elonmusk
, first those are not "our" bases. We are hosted by allies who provide access. Also, the graphic you posted is nonsense. We don't have access in more that a few, none in many of the countries you show. Truth matters.
You get a better appreciation of the benefits of trade from this thread than from dozens of economics papers. (This thread has also been seen by more people than those dozens of economics papers.)
As home sales fall to their lowest rate in 13 years, the U.S. is facing a significant and worsening housing shortage.
Read my latest
@CFR_org
Geo-Graphics blog post with Elisabeth Harding: