noahpinion.blog

Are we watching the U.S. go bankrupt?

Unsustainable fiscal policies can only go on so long. Eventually bond investors decide that the US will not in the end do the right thing after trying everything else, and default, expropriation, taxation, capital controls, or sharp inflation is on its way. They stop buying long-term bonds especially, and look to the comfort of short term bonds…Moving to short maturity structures is a classic symptom of trouble ahead.

longreads.com

America’s Greatest Hot Dog

In a world where the McDonald's Dollar Menu is long gone, a 7-Eleven dog costs over $2, and it's a challenge to stay on budget at Taco Bell, the Costco frank stands alone. It is America's greatest hot dog. And the country's last great deal.

profgalloway.com

The Epstein Tax

As wealth concentrates, billionaire political spending rises higher, securing policy outcomes that further concentrate wealth. The chaser is inflation, which transfers still more wealth from earners, whose purchasing power erodes, to owners, who are insulated.