TCL retweeted
We obviously haven’t had the major jobs wipeout yet. But you read stuff like this. And you read what economics students themselves are saying about working with AI (ht @odavis_h) and it’s hard not to feel like the seismic shift is on its way.
TCL retweeted
This Forbes investigation is a must-read.
Donald Trump pulled in roughly $1.4 billion from crypto in 2025, plus more than $200 million from real estate, and faced a projected tax bill north of $500 million. So his company donated the "development rights" to his Jupiter, Florida golf course to a land trust, argued the course was a natural habitat worth protecting, and kept right on running the club. Forbes estimates the write-off could land around $825 million.
He has done this at least five times since 2005. New York's attorney general alleged two of those appraisals were inflated. In Doral, he claimed a deduction of up to $323 million, more than double what he paid for the entire resort.
A month after the Jupiter deal, he sued the IRS. The settlement his own Justice Department signed bars claims against him over matters that "could be pending," language that appears broad enough to cover this year's taxes. A federal judge found the case was brought to manipulate the judicial process. And the man now running the IRS, who took the job as this deal was being assembled, has a home backing onto those same Jupiter fairways.
This is absolutely ridiculous. Nobody should be able to use the presidency to write his own tax bill.
forbes.com/sites/danalexande…
TCL retweeted
US energy company execs have resigned in disgust as the Trump family is caught secretly expediting the funneling of $25 billion from a sanctioned Russian energy giant in exchange for allowing Russians to obtain a natural gas project in Alaska.
According to investigations by The New York Times and Financial Times, Russia's Novatek allegedly concealed its financial involvement in the American project through a UAE-linked intermediary.
Gentry Beach, a longtime Trump ally and close friend of Donald Trump Jr., signed an agreement with Novatek to pursue natural gas development in Alaska. Reuters documented the arrangement in February.
Meanwhile, Vladimir Putin discussed this cooperation on the Alaska energy project with Trump's representatives, Steve Witkoff and Jared Kushner, during negotiations involving Russia and Ukraine.
The controversy deepened when Polar Train LNG's CEO, Joel Riddle, raised concerns about concealed Russian financing and possible sanctions violations. He departed in September, followed by other senior executives.
The Financial Times also described discussions about a potential arrangement under which Novatek would provide technology for the Alaska project in exchange for sanctions relief benefiting its Arctic LNG 2 development in Siberia.
According to The New York Times, Riddle and two other departing executives warned the Trump administration about the Russian financing and urged officials to investigate.
The White House maintains that the project was mentioned only briefly and that no detailed discussions took place. There is no established evidence that Kushner or Witkoff knew about the allegedly concealed financing. Polar Train LNG denies wrongdoing.
The central question is how a sanctioned Russian energy company became involved in a major American energy venture while Putin was discussing potential economic cooperation with Trump's representatives and a longtime Trump family associate was pursuing a separate agreement with the same Russian company.
Selling Alaska to the Russians or selling Ukraine to the Russians - to the Trump family it's all the same.
ft.com/content/e9cfbfbb-e65a…
TCL retweeted
The Jones Act waiver has delivered 10.1 million barrels of petroleum to Puerto Rico, which is about four times the 2004–2025 annual average, in less than 7 months.
The benefits of Jones Act relief are clear. Learn more from Cato’s @cpgrabow.
ow.ly/LHEO5100fXN
TCL retweeted
Within hours today, #Lithuania faced two serious security incidents. Overnight, a sabotage attempt targeting Starlink infrastructure near Vilnius was thwarted. Its purpose was clear: to undermine a capability critical to #Ukraine’s defence and civilian communications.
This morning, an unidentified UAV violated Lithuanian airspace, posing a risk to our citizens and their property.
Both incidents are a direct consequence of Russia’s war of aggression against Ukraine and its wider repercussions for European security. Hybrid attacks, sabotage, and airspace incursions threaten critical infrastructure, spread fear, and seek to undermine European support for Ukraine.
Lithuania supports, and will continue to support Ukraine in exercising its inherent right of self-defence, in full accordance with Article 51 of the #UN Charter. We also urge Russia to immediately cease its aggression against Ukraine.
We remain vigilant. Attacks against our critical infrastructure will be investigated, exposed, and met with resolve. We stand with our Allies and with Ukraine.
TCL retweeted
Highly relevant!
"The New Supply-Side Era: The O-Ring Meets Geopolitics" by Peter Orszag, Eric Van Nostrand, Noah Barbieri, and Layla McDermott.
"For most of the postwar era, economists’ default explanation for output and inflation fluctuations was aggregate demand: variation in household consumption, business investment, the fiscal impulse, and the inventory cycle. As supply chains extended across the world and China’s role within them increased, the ease of substituting one source of supply for another made managing demand the central challenge for policymakers. The supply side of the economy seemed to recede as a source of higher-frequency macroeconomic risk. The steady, low-variance, and largely predictable expansion of productive capacity absorbed shocks; if one source for a good grew expensive or unreliable, an alternative was just a container ship away. Today, we need to update this framework and recognize the predominant role of the supply side in macroeconomic fluctuations as well as many associated puzzles in global economics. The pandemic, artificial intelligence, Russia’s invasion of Ukraine, tariff shocks, China’s rare-earth export controls, and the war in the Middle East have delivered the same lesson six times in six years: supply shocks are now a dominant source of macroeconomic variance."
lazard.com/news-announcement…
TCL retweeted
Released 44 years ago today
Milo Goes To College, the first full-length album by the Descendents, featuring this track Suburban Home
Huntington Beach 1982
#punk #punks #punkrock #descendents #milogoestocollege #history #punkrockhistory #otd
TCL retweeted
Reagan launched his 1979 primary bid for the GOP nomination with an extended call for free immigration, free trade, and political integration with Mexico and Canada, where "peoples and commerce of its three strong countries flow freely across their present borders."
TCL retweeted
"Nuclear propulsion could be competitive with the current fossil fuels-based systems because vessels could move between 50 per cent and 75 per cent faster, carry more cargo and would not be exposed to environmental taxes." #NuclearMakesItHappen ⚓👇
ft.com/content/bb60f5f1-bf4c…
TCL retweeted
This isn't going to become some anomalous method of arresting people. They will be shocking people like this as a matter of course.
TCL retweeted
A key stat that every environmentalist who is serious about solving climate change should know:
The US Navy has put into operation over 400 nuclear reactors without a single failure that resulted in any radioactive release.
That is equivalent to the entire total number of civilian reactors deployed worldwide, but the Navy’s reactors are literally deployed in BOATS IN THE WATER, that continually move, rock, get shot at, etc.
There are non-trivial engineering challenges, but the core reality is that safe, clean, abundant nuclear is a matter of political will, intelligence, and organizational culture.
TCL retweeted
Even though 76% of US voters want #OpenDebates, & 40% consider themselves independent, a private institution set up by the 2 major parties continues to deny them their fundamental right to hear from all 4 ballot-qualified candidates.
It's time to #OpenTheDebates & #LetThemDebate
ALT We want YOU to Open the Debates! Make America Debate Again! Join the fight at openthedebates.org.
TCL retweeted
The great @eric_kober spent decades trying to bring Walmart and other big-box retailers to NYC as a city planner. No one knows this issue better. He's outlined how the mayor could deliver significantly lower prices quickly and at negligible cost to taxpayers. media4.manhattan-institute.o…
TCL retweeted
You can invent a million sub genres and categories but there's only good songs and bad songs
TCL retweeted
Rick Wilson: Ukraine makes 10,000 drones a day. The United States has fewer than 10,000 drones in its entire inventory.
So, when you find experts at doing something, go hire those people who do things better than you do.
Ukrainians have enormous capacity. Russia is slowing down on the battlefield.
Ukrainians have plenty of excess capacity right now to help defend U.S. facilities and Gulf nations.
But you’ve got to hire them, you’ve got to pay for it. It’s not going to come for free.
Whether it’s leveraging it or buying it, I would be writing that check in a hot minute.