Plato's Cave: Economic and Media Analysis in a Dark Time

Bill discusses the criminal referral by the head of the Federal Housing Authority of Lisa Cook, a Governor of the Federal Reserve, as a shameful attempt to drive her off the Board of Governors. Linda explores predictive policing and other scary data-driven surveillance. A deeper dive into the activities of Palantir Gotham. Additionally we return to the cherry crisis, immigration, and add the issue...

We start this week with a return to Statistics, specifically Trump's nominee to lead the Ministry of Truth (the Bureau of Labor Statistics). Trump's nominee (which we somewhat gleefully note) is being savaged in conservative media as, well, completely incompetent, and is seen as evidence that Trump wants someone to manipulate the numbers rather than present the truth. We examine why this i...

We discuss Trump's attack on the Bureau of Labor Statistics and its real consequences. We discuss the defunding of the Corporation for Public Broadcasting as part of a larger attempt to control the content of news. We also ponder the Texas redistricting scandal and the war between the Governors of Texas, California, and New York on non-Census redistricting of congressional districts.

Linda explains the FCC's approval of the Skydance and Paramount merger. The corruption of the meaning of broadcast news as serving the common interest by informing the public, and redefining the public's best interest by turning the news into infotainment centered on ratings and profits. Bill discusses the Brain Drain. Trump's attacks on higher education and research are leading to a l...

Harvard is defying the Trump administration's attempt to seize control of the academic life of Harvard by withholding research grant money. The accusation of antisemitism is Trump's stalking horse for this blatant attack on academic freedom, attempt to eliminate dissent, and thereby control higher education in the same manner that all authoritarian regimes do.

Linda explains the recent ACLU challenge to Trump's attempt to eliminate birthright citizenship. Bill discusses the impact of indiscriminate ICE raids on the agricultural labor market and its impact on future food availability and prices, especially in light of impending tariffs on Mexico and Canada.

The Big Bad Bill passed Congress. Linda and Bill discuss the impact of this piece of legislation on the taxing of Social Security beneficiaries. They also discuss the fraudulent claims of Mr. Trump that tips will not be taxed. In the final section, we note that cause-and-effect reasoning is irrelevant when policymakers and the public both prefer magical thinking about the consequences of proposed...

Linda and Bill don't panic over bond yields on US Treasury bonds exceeding 5%. Bond interest versus bond yields are explained. It is explained why the US cannot be forced to default. This makes US treasury bonds highly secure assets for individuals and financial institutions of all kinds. The impact of Trump's magical thinking about tariffs and policy in general, as opposed to actual outco...