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

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...