Patrick W. Watson
@PatrickW
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Economics journalist, editor @MauldinEcon. Opinions mine. Also on Bsky (patrickww). Once a soldier.
Dripping Springs, Texas
Joined December 2007
When everything is designed to provoke and enrage you, staying calm is a revolutionary act.
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This whole “TACO” idea doesn’t fit how Trump works. He doesn't chicken out. He pushes until something stops him. Markets are no longer doing it and nothing else can. Which probably means tariffs are headed much higher.
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RT @JamesSurowiecki: If the economy is roaring and there are trillions of dollars in new investment, the case for interest-rate cuts is wea….
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Congress has statutorily given the Fed specific mandates. Helping the Treasury pay a lower interest rate is not one of them.
Asking the Federal Reserve to lower interest rates to make it easier to finance public debt - as Moreno did here, and as Howard Lutnick did the other day - is just a backhanded way of getting the Fed to monetize the debt.
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Every developed country on Earth has better health outcomes and lower healthcare costs than the US without forcing sick people to jump through hoops. It's not too hard or too expensive. We just. won't do it.
Health insurers will still be allowed to deny doctor-recommended care, which is arguably the biggest criticism that patients and providers level against insurance companies.
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RT @JamesSurowiecki: The US has never had a president who believed less in free markets than Trump.
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Wait, I was told he would be a president of peace who keeps the US out of foreign wars.
BREAKING: President Trump says the US has completed three attacks on nuclear sites in Iran. The US is officially striking Iran.
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RT @mauldinecon: From @PatrickW, . "Scaring a significant population segment to withdraw from normal activity harms everyone. Big brands no….
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Just days ago, the Republican Speaker of the House was calling for the largest state's governor to be "tarred and feathered." Now his caucus is worried about safety.
NEW — HOUSE REPUBLICANS are on a call about security right now in the wake of the horrific incidents in Minnesota. Many members are saying they need security at their homes. Tim Burchett was a big advocate on this call — but many members echoed him. By the way, today is the.
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RT @EpsilonTheory: My reading is that we’re effectively nationalizing US Steel and allowing Nippon Steel to lease the assets, make capital….
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"Protect our Farmers" = "Let the farmers (+ hotel owners and other wealthy Friends of Trump) keep hiring illegals.". MAGA folks, you got played.
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The ICE shift to raiding workplaces seems likely to reduce labor supply as more immigrant workers either self-deport or stay in hiding. Impact on agriculture, meatpacking, restaurants and construction, just to start. Likely inflationary.
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RT @EpsilonTheory: Masked agents from a State security apparatus, without badge or warrant, are throwing people into unmarked vans for inde….
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RT @peterbakernyt: "Nobody’s going to spit on our police officers," says Trump, who four months ago pardoned people who beat police officer….
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To be clear, they are no longer “state troops.” They are under federal command and the Trump administration is 100% responsible for their treatment.
State troops sent to Los Angeles by the Trump administration, without the approval of California Gov. Gavin Newsom, were expected to sleep on floors or outdoors, a source told the Chronicle.
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Republicans in 2017: Our tax cuts won't affect the deficit because they expire in 2026. Republicans in 2025: OMG our tax cuts expire next year!.
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If ABC has a policy for what its journalists can say on social media, it can enforce that policy against violators. If not, ABC should let Moran exercise his free speech rights. In either case, government should have no role.
Here's the U.S. government "inquiring" about how a private news organization plans to hold an employee "accountable" for voicing an opinion. This from the guy who said he "brought back free speech."
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