It's a bad number. Just 22,000 jobs, and with revisions June went negative to -13,000. Worse, deeper into the data you can see that the theory of Trumponomics is failing. It's not too late to change course, but it would require dramatic action they won't take. Let's dig in. /1

Good report, I talked to Mike about it, we'll have much more on this in the coming weeks

Celebrate the materials that build America. Join us this ROCKtober 2025!

This is a very useful effort from @chao_becky and @mtkonczal to try to de-escalate the factional warfare and synthesize some populist and abundance-oriented ideas about affordability.

@EconomicSecProj is out today with a new report, The Affordability Framework, from me and @mtkonczal that dives into the root causes of our affordability crisis: broken markets and broken incomes. https://t.co/jqa0QAm0vq

I hope you check it out! 10/10 https://t.co/EpfOTGU16e

@rcobooth @voxdotcom Meanwhile @vtg2 and I have a discussion in @politico today that places the Framework a little more firmly in intra-Democratic policy debates (with a social preview image that strongly implies @ezraklein was a White House aide):

There's already some coverage: @rcobooth wrote in @voxdotcom this morning describing our theory, and placing the Framework in this current political moment, while debating whether affordability can overcome just being another buzzword /8:

For the real ones: to get the pdf version, which gives you fun footnote discussions of e.g. the consumption Euler and whether Baumbol is actually an opportunity, click here. /7

You can check it out here! There's the one-pager, an executive summary, and the full report. We'll be building on this through the next year, excited to hear what everyone thinks. /6

We pull from the leading thinking across the schools of thought on affordability (e,g, social insurance, populism, antimonopoly, and abundance) and shows how they all do contribute to finding the best answers. And none can do it alone; the answer won't just be Abundance. /5

But even when markets work well, people may just not have the money they need. That’s driven in part by inequality and big macroeconomic trends, but it’s also just built into how a market economy distributes income in our lives. Social insurance can fix these broken incomes. /4

With markets, corporate concentration and restrictive zoning each cost households an estimated thousands of dollars each year. Estimates running that high show how poorly our markets are structured. Our Framework digs into the major arguments on how this drives costs. /3

There's good reason so much analysis on affordability is done sector-by-sector. But by stepping back, you can see commonalities across the biggest contributors, and that it's driven by bad market structures and mismatched spending. Or: broken markets and broken incomes. /2

Today @EconomicSecProj released its Affordability Framework by @chao_becky and me. As affordability remains central to economic and policy debates, it's helpful to step back and examine the key drivers of the current crisis to get a theory of the case. This is what we found. /1

The US is doing a new kind of state capitalism where it takes equity stakes in US lithium mining companies and then cancels grants to a company called American Battery Technology Co that got a special permit to build a lithium refinery

3 final things: 1. I will still be affiliated with TBL as a nonresident fellow. 2. More news on next steps in a couple weeks. 3. @riccoja will be taking over TBL's tariff work! Follow him and read TBL's new tariff update, posted today: https://t.co/PPFgKP2LAD 3/3

1/ Starting Jan 1 insulin will be available for just $11 a pen in CA – a game changer for people with diabetes who now spend an average of $169 a month on insulin, thanks to #CalRx. https://t.co/LpsEmOEMBQ

“I will build 200,000 units of affordable housing… and I’m going to make it easier for the private sector to build housing, because what we see today is it’s not labor, it’s not materials—it’s the wait that is actually costing so many so much to build the housing we need”

"We are Americans! What, you think I would feel okay if somebody in a Republican state died because they couldn't get health care? I would hope not."

How is the transition from GPT to Claude for people who use them for writing, academic research, and coding? I'm a long-time ChatGPT subscriber and daily user, I get a lot of value, but I'm not really interested in supporting the video slop social feed and "erotica" AI-future.

Onions. 📺: ABC

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