4. Importantly: Elevating Asian Americans as "deserving" and "hardworking" was a tactic to denigrate African Americans.

So there’s a long list of exemptions to Trump’s new tariffs. Guess what’s exempted? Fentanyl.

The methodology is still wrong because it makes some really bad assumptions. (This is a major trade policy change! So, exchange rate and general equilibrium effects kind of become the whole ballgame?)

This math is saying: "Tariffs will raise the prices of foreign imports. Those higher prices will cause Americans to buy less foreign stuff. And that's how we will close the trade deficit." . That's how tariffs work: by raising prices. And that's what Trump now admits.

1. Trump's methodology for calculating these tariffs is not as completely wackadoo as some seem to think it is. 2. What's REALLY interesting is that if you parse the math here, Trump is admitting that the tariffs will raise prices.

This … can’t be true right?? Like, kerosene is toxic??

This is the millennial midlife crisis.

I keep thinking about the one son who had to follow his doomed father into the dark submarine while that other son went to a Blink 182 concert and posted thirsty tweets.

this, except for bank failures

Why do my cats sweetly groom each other and then suddenly one of them attacks?? Can someone explain this cat behavior to me.

The backstory of a case the underpins the entire internet economy?? Yes please

Best $5 I will ever spend!!

Sure GPT-4 can pass the bar exam but how good is it at bluebooking.

I have been waiting for this project to drop for MONTHS. So excited.

RT @nickfountain: Learned a lot about banks this week (from Jeff, @ProfKateJudge, and @STOmarova). Hope you'll take a listen.

New @planetmoney take on the collapse and rescue of SVB, starting with: What is a bank, even??. (w/@nickfountain @willagreer @MrKeithRomer).

The Bank of Kibble is also submitting to more stress testing from the federal deposit insurance cats

ok in response to their demands for more regulatory guard rails I have implemented a higher kibble reserve ratio

o no they are now asking tough questions about how I am investing their kibble

“and as you can see, the kibble machine does have a little window. so you can verify that I have met my reserve requirement and that there is enough kibble left in there to satisfy your short term needs.”

“since your withdrawals from the kibble machine — I mean, the Bank of Kibble — are regular and predictable, in theory I could take out most of the kibble and park it in higher-yielding, but less liquid investments”.