I think this was an especially good one.

I can tell you chardonnay is definitely not elite-coded in Boulder, CO. The local wine store guy was most excited to talk about an Australian who just moved here, was upset at not being able to find hard ginger beer, and started making it himself.

Would need to find a clergyman who spoke Latin

Richard Feynman's appearance was pretty good though

Need to subscribe to the Criterion Collection!

He likened Trump to Hitler in 2016. So the calculation definitely changed after Trump won.

Isn't AI data center capex a surprisingly large share of GDP growth at the moment?

I'm a big fan. It's far from a weeknight cookbook, but I'll say I have had a great result making the multi day pastilla from Nopi for a special event (recipe is also on his website).

I actually think Plenty More is better.

xAI wasn't formed until 2025, but this record seems shaky.

I admit I was surprised to learn from @edwardluce.bsky.social's lunch with Bannon that he has for years been a teetotaler.

This was excellent

The river is not too warm to cool the reactors. Nuclear plants are sometimes taken offline during heat waves with the goal of protecting heat sensitive plant or animal life downstream, since they add incremental heat. Warmer water has no impact on the safety or efficacy of cooling nuclear reactors.

Really excellent penultimate paragraph

Bravo

It means Chinese-made intermediate goods that are manufactured elsewhere into finished goods for re-export. For example, Chinese motherboards exported to Taiwan for assembly into laptops that are then exported to the US. Looking only at bilateral China-US trade in motherboards is an underestimate.

More if you count Chinese content exported to SE Asia and then re-exported to the US. From Brad Setser.

This seems so clear from the historical record in places like 2000s Russia.

Currency manipulation is just one tool among many that both countries use to subsidize their export sectors. Overall, China's interventions are much more extreme than Japan's, though both are significant. No point in focusing on just one intervention at a time when what matters is the aggregate.

The rational thing to do for plenty of US-defended countries with a threatening neighbor (e.g. South Korea, Japan, Poland, etc.) would be to develop their own nuclear weapons. Which of course would inspire others to get their own. Avoiding this was a big reason for the historic US offer of defense

Personally I have been influenced on this topic by Michael Pettis. It's worth at least reading Tade Wars are Class Wars.

MicroStrategy Has Volatility to Sell Also Kiromic, fake insider betting and the optimal amount of bribery.

www.bloomberg.com/opinion/arti...

The volatility can be monetized by selling convertible bonds. @matt-levine.bsky.social has discussed this.

He means policies authored by and organs of government run by the Democratic Party.

Financial bubbles have burst for centuries without a regulatory cause. Regulators swing into action after the bezzle is gone, the damage is obvious, and people are baying for retribution.

You're probably right about the starting point impacting the chart. I just mean I read Lords of Finance and it truly didn't sound like Hjalmar Schacht was presiding over a period in which gdp per capita rose ~40%.

I really would have expected the 20s to have been worse than that for Germany.

Mexico runs an overall trade deficit and Canada is about neutral. It's not that hard to find the countries that run mercantilist persistent trade surpluses!

$IBKR, $VIRT, and the independent investment banks have felt like the only semi-responsible way to participate in this crazed environment. I've been lightening up on the investment banks and wonder if it's time to do that with $IBKR too.

Listen to the people telling you to use the app!