Dark Energy.
"Rats fleeing the ship".
“Most mornings I learn more from New Items than I do from all of the traditional papers I read combined.” — Michael Blair, former presiding partner, Debevoise & Plimpton.
1. Most years, presidents don’t have much impact on the economy; it is just too big and complicated. This year won’t be like most years. President Trump is taking unprecedented steps to run the economy hot, and there is an excellent chance he’ll succeed. Washington has three big levers that affect growth: fiscal policy (taxes and spending), monetary policy (interest rates) and credit policy (the ease of borrowing). Historically, they were not coordinated: Fiscal policy followed the Congressional cycle, monetary policy was set by an independent Federal Reserve and credit policy reflected often random decisions by regulators. This year, all three are dialed toward stimulus, reflecting a single-minded focus by Trump and Congressional Republicans on faster economic growth. They hope that will deliver victory in the November midterm elections. In the process, they are compromising other goals: taming debt, Fed independence and long-term financial stability. The consequences of that come later. (Source: wsj.com)
2. The average American took an increasingly dour view of the economy in 2025 as affordability dominated public discourse. But The Washington Post’s analysis of the language S&P 500 executives used during earnings calls found a striking shift in how America’s biggest companies presented themselves, with warnings of economic malaise giving way to more upbeat corporate messaging by year’s end. The analysis found that in calls from September to early December, executives talked about growth, strength and expansion, and increasingly pointed to artificial intelligence as a driver of future gains. (Source: washinghtonpost.com)
