Notes in the Margin

New "Canadian" PM Mark Carney has been head of both the Bank of Canada and the Bank of England. The technocracy acknowledges no borders.  

But Bessent says tariffs won't cause any supply chain shocks (for some reason.)

Trump has a great scheme going: impose huge new tariffs (AKA taxes) and then portray a cut on those same tariffs as some sort of generous move.  

US Navy loses $60 million fighter jet after it fell off aircraft carrier. This brings the total cost of lost aircraft in Yemen up to $270 million since Trump took over.

The Liberal Party, led by new Prime Minister Mark Carney, is projected to form a minority government in a dramatic political comeback, defeating the Conservative Party, led by Pierre Poilievre. 

Ted Carpenter explains why NATO is now even more useless than before. 

Lower income countries like the D.R. often face much higher relative costs than rich countries when it comes to dealing with waves of migrants. 

US airstrikes on Yemen killed 95 civilians and injured 192 last week. Very little US trade requires the Suez Canal, so this is about subsidizing the State of Israel. 

Trump's trade war is so successful that he's planning to bail out the farmers who will suffer under the trade war. 

62% think tariffs will be a net liability in the long run. Even more think it will be costly in the short run. They're right because tariff hikes are just tax increases on Americans.