Paul Kiernan
@pkwsj
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Writing about the California economy for the Wall Street Journal. Previously in Mexico City, São Paulo, Rio and Washington. RTs ≠ endorsements.
Los Angeles
Joined June 2013
Bit of personal and professional news: I recently moved from DC to Los Angeles, where I'll be covering the California (and West Coast, and still U.S.) economy for @WSJ. My first story: https://t.co/NhQ7ZTPmGX
wsj.com
Gov. Newsom Friday signed a bill that will make it easier to build apartment buildings. Cities like Los Angeles fear a loss of control.
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Scoop: Blockchain researchers have found evidence of rampant wash trading on the leading electoral betting site Polymarket, with Chaos Labs concluding that one-third of volume on its presidential market is likely artificial
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Background on this concept of a “crypto voter,” courtesy of @cduhigg
https://t.co/JFMO2kYPjf
Our latest poll shows that 5% of all voters (all voters!) consider themselves single-issue crypto voters, putting to rest ongoing questions about whether the crypto industry has astroturfed its power this election cycle. 1/7
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“There’s strong reason to believe they are the same entity.” @aosipovich shows how four accounts on a betting website poured $30 million of crypto into wagers that Trump will win the election, making his odds look better than they might really be.
wsj.com
Four Polymarket accounts have systematically placed frequent bets on a Trump election victory.
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A Second Trump Presidency Stands to Radically Remake World Trade
wsj.com
Tariffs could rise to highest levels since the 1930s. Anything from a global trade war to a U.S.-led system against China could be the result.
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Canceling Subscriptions Is Torture. The Government Wants to Make It Easier for You.
wsj.com
The FTC’s rule mandates that publishers and other businesses simplify the process of canceling a subscription or membership.
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A statement from the editor of New York Times Opinion in response to criticism of a recent guest essay. https://t.co/fs3X3ivadq
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US Forest Service sent urgent message to federal agencies in western N.C. on Saturday saying that National Guard troops ‘had come across x2 trucks of armed militia saying they were out hunting FEMA.’
washingtonpost.com
The actions underscore growing concerns about safety and security of federal emergency personnel in western North Carolina amid a raft of misinformation.
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Two thirds of economists surveyed by the @WSJ say inflation would be worse under Trump than under Harris while just 12% say it would be worse under Harris than Trump. @pkwsj @anthonydb
wsj.com
In a WSJ survey, economists see Donald Trump’s fiscal plans as more inflationary than those of Kamala Harris—and by a larger margin than in July when President Biden was on the ticket.
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Interesting bc before it was an election year with tens of millions of crypto-dollars sloshing around Washington, Tim Scott was fairly skeptical of The Digital Asset Ecosystem.
Scoop from @Eleanor_Mueller: Mark Warner is dropping plans to include new crypto sanctions in a bill that would reauthorize intel programs. He faced opposition from the crypto industry and a key GOP senator.
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If you are a weatherperson, you’re a target. The same goes for journalists, election workers, scientists, doctors, and first responders. These jobs are different, but the thing they share is that they all must attend to and describe the world as it is.
theatlantic.com
What’s happening in America today is something darker than a misinformation crisis.
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Sharply lower energy prices have brought overall inflation to its lowest level since February 2021. But energy is volatile. If we want sustained lower inflation, services inflation (shelter, transportation, healthcare) has to come down.
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September inflation data comes in a bit warmer than expected: -CPI +2.4% yoy, vs consensus estimate of +2.3% -CPI excluding food and energy +3.3%, vs consensus +3.2%
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After ~7 hours of trading: - Harris 53% to Trump 47% on IBKR's ForecastEx - Harris 51% to Trump 49% on Kalshi https://t.co/Oa3R8J90fI
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Strong September jobs report just in: +254k nonfarm payrolls (economists had expected +150k) Unemployment rate falls to 4.1% from 4.2% Average hourly earnings +$0.13 to $35.36
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Kamala Harris’ brother-in-law Tony West has earned $40.6 million in compensation from Uber, where he is a senior executive, since 2020. West is on leave from Uber to advise the Harris campaign but has told colleagues he plans to return afterward.
wsj.com
Tony West, a top Uber executive and campaign adviser, is drawing scrutiny as he courts Wall Street and donors.
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U.S. Port Workers Agree to End Their Strike
wsj.com
Companies sweeten contract offer to a 62% wage increase to reopen ports from Maine to Texas
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Hurricane Helene caused havoc in North Carolina. It also shut two mines that together produce about four-fifths of the world’s highest-quality quartz — a crucial ingredient in the production of semiconductors
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