For those just tuning in: I wrote a piece a day for the first three days of this week on what we should probably now term the “Trump Tariff Financial Crisis”. The only missing piece was the international financial architecture part, which is the subject of today’s piece.
Understanding what’s going on during the Trump Tariff stock market panic each day is extremely difficult. All of the most intricate and obscure questions about the Financial System’s “plumbing” become relevant all at once.
It has been a little more than three weeks since my last piece, simultaneously published by Notes On The Crises and Rolling Stone, assessing the extremely alarming implications of the Federal Government taking 80.5 million dollars right out of New York City’s bank account.
I don’t really know what to say. I’ll figure out what to say another time. Paul Krugman, who recently left the New York Times, interviewed me for his newsletter and the transcript of the conversation, as well as the video, are being posted in both of our newsletters.
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I'm very excited to announce that I'm under contract with Viking Press of Penguin for my book on the Federal Reserve entitled "Picking Losers". I&
Normally I do not release pieces on Saturdays or Sundays. However, this is the third anniversary of the first piece I ever sent of this newsletter. That brief note, appropriately titled “Sign of
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I haven’t covered what’s been going on in pricing and the “inflation”
conversation. At this point there is a lot to
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readers will know that insights from MMT