... “It brings performance, electrification and all-wheel drive to further enhance the unthinkable ZR1,” said Josh Holder, Corvette chief engineer. “It brings learnings from the ZR1 and the E-Ray, and combines them to create an unbelievable driving experience.” ...
Moar.
Of course he isn't going full TACO, just half TACO with a twist.
Chinese students in America number under 300k annually. Communist Party membership/support will receive more scrutiny.
And helping Israel beat Iran doesn't mean being neck-deep in war.
But this gets traffic, which is the point for social media parasites.
... This time, it's not blue-collar and factory workers getting whacked — it's college graduates with white-collar jobs in tech, finance, law, and consulting.
Entry-level jobs are vanishing the fastest — stoking fears of recession and a generation of disillusioned graduates left stranded with CVs no one wants.
College grads are now much more likely to be unemployed than others, official data show.
Chatbots have already taken over data entry and customer service jobs. Next-generation 'agentic' AI can solve problems, adapt, and work independently. ...
Dario Amodei, CEO of Anthropic, one of the world's most powerful AI firms, says we're at the start of a storm.
AI could wipe out half of all entry-level white-collar jobs — and spike unemployment to 10-20 percent in the next one to five years, he told Axios. ...
Critics say universities are churning out graduates into a market that simply doesn't need them.
A growing number of young professionals say they feel betrayed — promised opportunity, but handed a future of 'AI-enhanced' redundancy. ...
Well, if spending collapses those blue-collar and factory workers won't have anything to do either, now will they?
Prices for everything might very well reset much lower in a deflationary spiral.
Imagining being in charge of addressing all that.
Trump always chickens out, aka paper tiger, etc.
Social Security recipients do not need to worry about their benefits being garnished due to their defaulted student loans, at least for now. The development is an abrupt change in policy by the administration, which had announced in April that it would be resuming collection activity on defaulted student loan borrowers. The Education Dept. had said that Social Security benefit offsets could begin as early as June.
(June 3) Deutsche Bank raises S&P 500 forecast on ‘TACO’ theory: ‘We will get further relents’
(May 29) 10 times Trump has threatened, then backtracked on, tariffs as 'TACO trade' jab gains traction
(May 31) Trump Raises Steel Tariffs To 50%—Here Are The 21 Times He’s Changed His Mind
(May 28) Trump was asked about the "TACO" trade and called it a "nasty question." Here's what it means.
(The guy who started TACO May 2) The US market’s surprise comeback, and the rise of the ‘Taco’ trade theory
... the US administration does not have a very high tolerance for market and economic pressure, and will be quick to back off when tariffs cause pain. This is the Taco theory: Trump Always Chickens Out. ...
Take courage people!
You too can become populists just like Pete and Little Marco. Just get your degrees from Princeton and Harvard and the Universities of Florida and Miami.
... Trump repeated this inaccurate assertion about three $1.98 states at least three times this week. Then, during a commencement address at the University of Alabama on Thursday night, he used an even lower figure. ...
More.
Journalists gloss over. My eyes glaze over.
So embarrassing.
Most of the pissing and moaning is from investors who pulled the bond trigger too soon, plowed into fixed income, and got burned badly because interest rates reasserted themselves.
The press this weekend is instead full of apocalyptic language about the Treasury market and the implications for America on a grand scale. It's complete rot and I'm ignoring it. It's all designed to pressure the Fed to lower their rate again.
The last time the Fed embarked on rate cuts is instructive. It was late September 2024. The average of the aggregate of the curve had fallen to just north of 4. Inflation rates seemed to be trending down. So the Fed cut, and voila! Treasury rates hilariously shot upward!
The burn was real.
$TLT investors, who were down 4.76% in 2021, 31.41% in 2022, up 2.96% in 2023, went down again, 7.84% in 2024 as a result. Ouch.
They are back, itching again for a policy reversal like they have a flea infestation, so bad they are bleeding.
As things stand year to date, long term investment grade investors in VWESX, for example, are down 1.43%. It wasn't supposed to be this way, not again.
So everyone hates the bond vigilantes with the heat of 1,000 suns, and urges more imprudence.
Meanwhile in "cash" you go on making 4.3% or so, and in gold you have made a killing, while stocks reel under Trump's stupid tariff shotgun blasts which are wounding everyone in the field, including himself.
If the Fed had done a proper job against inflation by jacking up the Fed Funds Rate to meaningfully combat the core pce inflation rate of its average 5.35% in 2022 instead of going only where it did, which was 1.69% on an average basis, maybe we wouldn't still have this lingering inflation for the bond vigilantes to demand payment against. Core pce inflation hasn't moved materially off 2.8% in a year now, still much too high.
The bond market is "she who must be obeyed". She doesn't tell you everything you need to know, but she does tell you the most important thing.
But what the hell do I know. I'm just some punk keyboard warrior blogging in his underwear in the basement to the money men. So yippee-ki-yay, you earned it. Especially you Donald Trump, you complete ignoramus.
Over 9 million student loan borrowers past due after bills restarted, Fed estimates
... A new student loan delinquency can cause a borrower’s credit score to drop more than 150 points, the Fed warns.
... The tariffs will kick in at midnight on April 3, and Trump has said they will be “permanent.” ...
... A spokesperson for Klarna acknowledged to NBC News that people needing to pay for meals on credit is “a bad indicator for society.” ...
... Earlier this month, U.S. Immigration and Customs Enforcement arrested Khalil in the lobby of his Columbia University apartment building, took him to New Jersey and quickly transferred him to Jena, more than 1,000 miles away from his pregnant wife, who is a U.S. citizen, and his attorneys in New York.
Civil rights lawyers who work with immigrants locked up in Louisiana’s detention centers say they are concerned for Khalil, given the Jena facility’s unsettling history. However, they say they are not surprised that ICE transferred Khalil to Louisiana, where access to counsel is extremely limited, and where the courts skew conservative.
In a phone interview with Verite News last week, Anthony Enriquez, vice president of U.S. advocacy and litigation at civil rights nonprofit RFK Human Rights, said the Trump Administration is “forum shopping” Khalil’s deportation case — looking for the jurisdiction that will give the government the outcome it wants.
“The government has the ability to do that with immigration,” Enriquez said. “It can arrest someone in a jurisdiction where the case law is very favorable to the person arrested, and then sweep them away to another jurisdiction.” ...
... two IRS employees who spoke to CNN said that some of the actions taken by DOGE inside IRS appear to be aimed at finding ways to use the agency’s protected data to find undocumented immigrants. ...
Donald Trump had one of the worst annual dumb ass unemployment rates in history in 2020: 38.25%.
Every president between Carter and Obama did better than he did.
Get off your ass you losers and get to work.
During the 1990 summit, Zoellick says President Gorbachev accepted the idea of German unification within the North Atlantic Treaty Organization, based on the principle that every country should freely choose its own alliances.
“I was in those meetings, and Gorbachev has [also] said there was no promise not to enlarge NATO,” Zoellick recalls. Soviet Foreign Minister, Eduard Shevardnadze, later president of Georgia, concurred, he says. Nor does the treaty on Germany’s unification include a limit on NATO enlargement. Those facts have undermined one of Russian President Vladimir Putin’s justifications for invading Ukraine — that the United States had agreed that former Warsaw Pact nations would never become part of the North Atlantic security alliance.
Zoellick, a former deputy and undersecretary of state, deputy White House chief of staff, U.S. trade representative, and World Bank president, shared his recollections about the Cold War’s end and its ties to the ongoing war in Ukraine as part of a broader conversation with Harvard Law Today about the 75th anniversary of the Truman Doctrine, an American foreign policy aimed at containing Soviet expansion following World War II.
He is the author of “America in the Word: A History of U.S. Diplomacy and Foreign Policy.” An alumnus of both Harvard Law School and Harvard Kennedy School, where he is a senior fellow at the Belfer Center for Science and International Affairs, Zoellick believes Putin’s false claim about NATO enlargement is part of a disinformation campaign by the former KGB agent to mask his true intentions.
Zoellick vividly recalls the White House meeting he attended nearly three decades ago in which Bush asked Gorbachev if he agreed with the Conference on Security and Cooperation in Europe principle that nations are free to ally with others as they see fit. When Gorbachev said yes, he says, the Soviet leader’s “own colleagues at the table visibly separated themselves.”
Sensing the import of the possible breakthrough, he says a colleague at the meeting, Robert Blackwill, sent him a note checking what they had heard and asking if they should ask Bush to repeat the question. “Gorbachev agreed again,” Zoellick recalls, to the principle that Germany could choose to enter NATO.
“The reality was that, in 1989-90, most people, and certainly the Soviets, weren’t focusing on whether the Eastern European countries would become part of NATO,” Zoellick says. Knowing Soviet and Russian diplomacy, he believes Moscow would have demanded assurances in writing if it believed the U.S. had made such a promise. And even in 1996, when President Bill Clinton welcomed former Warsaw Pact nations to join NATO, he says that, “[o]ne of the German diplomats involved told me that as they discussed the enlargement with the Russians, no Russian raised the argument that there had been a promise not to enlarge.”
But if the West never gave the promise Putin has used to explain his decision to invade Ukraine, what does Zoellick think motivates the Russian president’s decision to inflict death and destruction on one of Russia’s nearest neighbors? “Putin does not see Ukraine as an independent and sovereign state,” he says. “He has a view of Russian history where the Rus [the medieval ancestors of the people who came to form Russia, Belarus, and Ukraine] began in Kyiv. He believes that they are all Russians, living in a greater Russia. And I think at age 69, Putin feels that this is a question not only of Russian history, but his place in Russian history.”
Zoellick says that when Putin’s earlier attacks in the Crimea and country’s eastern regions failed to halt Ukraine’s drift towards the West, the Russian leader believed he had no other choice but to invade. “That’s his motivation. And I think we need to be aware that he’s going to double down. The resilience and resolve of the Ukrainian people to resist has been a surprise to him and everybody else. I don’t think he’s going to ultimately be successful. In addition to today’s brutal battles, Russia faces a difficult occupation and insurgency, even if it can seize cities and territory.”
The experienced diplomat also credits Ukrainian President Volodymyr Zelensky with rallying the Ukrainian people by refusing to flee Kyiv and through adept use of social media and language.
“We’re seeing that the skills that he developed as an entertainer and a communicator can be used in different ways, just as Ronald Reagan did,” he says. “It does raise a concern that, if something happens to Zelensky, what will that do to morale? Will he be a martyr or will his loss break the public will?”
Zoellick also notes that, as the war in Ukraine has garnered the world’s attention, many of the questions being asked today about the West’s relationship with Russia are similar to those he had dealt with at the end of the Cold War, including “Russia’s sense of whether it feels like a great power or threatened by NATO … those are the issues that are at very much at play in dealing with Ukraine.”
“Can Russia forge peaceful, constructive ties with the West?” he asks. “Failed economic and political reforms left Russia behind. Its economy depends on energy production. Putin played off public frustrations, but many Russians don’t want war and isolation.”
When thinking about global diplomacy and the factors that might have led to the Russian invasion, Zoellick harkens back to a comment made by his boss for eight years, James Baker, who served both as secretary of state and the treasury, as well as White House chief of staff: “As you address the problems of one era, you’re often planting the seeds for the next set of challenges. History doesn’t stop.”
More than 30 years after the fall of the Berlin Wall, Zoellick says the legacy of decisions made at the end of the Cold War are echoing throughout Europe today: “Would we keep NATO alive? Would it enlarge into Central and Eastern Europe? How far? What would be the effects on Russia of its loss of empire?”
“That leaves the question of whether the U.S. could have avoided Russia’s turn,” he says. The answer, he believes, depended on Russia’s choices. “Certainly, we wouldn’t have wanted East and West Germany to remain divided.” The related questions are many: What if Eastern European countries had been barred from joining NATO and therefore remained, like Ukraine, outside the western security umbrella? And how would they react to the Russian threat and being left again as “lands between” Germany and Russia? The U.S. and Europe, he notes, offered Russia partnerships, but Russia felt humiliated by the loss of its empire.
“I was the U.S. negotiator for German unification,” he says. “We wanted to make sure that a democratic Germany was unified in NATO. I don’t think anybody would think that’s a bad idea today. And if anything, we’re now seeing Germany stepping up to a security role for NATO and the European Union.”
In 1989-90, Zoellick was also focused on the idea that Poland — long subject to invasions by Russia and Germany — should be able to eventually join NATO. He made sure that the treaty on German unification kept that possibility open. “Given Putin’s behavior, can you imagine what the effect would be on Poland today if it weren’t in NATO? I think it’s wise to have Poland and Germany on the same side. The Baltic countries were a tougher choice for NATO, not because they don’t deserve the security, but they’re very hard to defend.” Nevertheless, he adds, because the Baltic states are now NATO members, he believes we must “take serious steps to defend them from both direct and hybrid threats.”
Ultimately, he believes supporting Ukraine economically and supplying arms for self-defense, rather than opening the potential for eventual NATO membership, would have been a better approach than the one the West has taken in recent years.
“If NATO gives a security guarantee, it has to mean it,” he says. “It has to be serious about providing deterrence under Article Five of the North Atlantic Alliance treaty. … I support Ukraine’s economic reforms and its democracy, [but] I doubted that the American people were ultimately willing to fight for Ukraine. The worst thing to do was to suggest Ukraine might join NATO, but without a serious pathway to membership.”
The U.S., he adds, “isn’t going to defend everybody all the time, everywhere in the world; we have to know what we will and won’t defend. Having said that, I think the Obama and Trump administrations erred by not giving more military support to Ukraine. I believe that we should help the Ukrainians defend themselves. But those are the exact issues debated today.”
https://hls.harvard.edu/today/there-was-no-promise-not-to-enlarge-nato/
