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CMS announces Office of Health Technology and Products
The Centers for Medicare & Medicaid Services June 10 announced the establishment of a new Office of Health Technology and Products.
Business Briefs: June 12, 2026
Magic Wings to hold ribbon-cutting ceremony SOUTH DEERFIELD — The new owners of Magic Wings Butterfly Conservatory in South Deerfield will recognize the next chapter of their business with a grand reopening celebration on Saturday, June 13 from 10 a.m. to 2 p.m. at 281 Greenfield Road in South Deerfield. The event will feature family activities, […]
Social Security is Facing a Political Crisis
On Tuesday the Social Security Trustees released their latest report on the system’s finances. The numbers didn’t change much: Unless something is done, the Old Age Survivors and Disability Insurance (OASDI) program, Social Security’s official name, will be unable to pay full benefits starting in either 2032 or 2034, depending on some technical issues. That’s not far away: If the Trustees are right, the prospect of a Social Security crisis will loom over the next presidential administration. It’s important to understand, however, the nature of the looming crisis. It won’t be an economic crisis. It won’t even be a serious fiscal crisis. Whatever you may have heard, Social Security isn’t in danger of going bankrupt. What we’re facing, instead, is potential political crisis. Congress and the White House could easily take action to sustain America’s retirement system. But given the current state of our politics, there’s no guarantee that they will. There is a widespread misunderstanding of how Social Security works. While Social Security was designed to look like a pension fund, it isn’t. A pension fund pays benefits out of a stock of assets it has accumulated over time. In contrast, Social Security operates as a government transfer program, like food stamps or Medicaid. Now, unlike food stamps — but like the highway trust fund — Social Security is on paper supported by a dedicated tax, the payroll tax, that is assigned to that program. But I say “on paper” because from an economic point of view assigning the payroll tax to Social Security is just an accounting convention. What matters for the U.S. economy is the overall balance between government spending and government revenue, not the difference between one type of spending and one source of revenue. So there’s no inherent economic significance to the fact that by 2034 payroll tax receipts will be insufficient to cover promised benefits. There is, however, a legislative issue. As long as the Social Security Administration can pay benefits out of payroll taxes and its cash reserve, there’s no need for Congress to vote each year to authorize benefits — they just keep going out until further notice. However, once those resources become insufficient, benefits will fall —by 17 percent according to the Trustees — unless Congress passes new legislation that “tops up” Social Security’s finances. Yet the current administration and Republican party are such extremists that there is a real risk that Social Security will be held hostage on behalf of their goals. If this should come to pass, the hostage-takers will claim that shoring up Social Security is unaffordable. Right on cue, Mike Johnson, the Trump-sycophant Speaker of the House, declared on Monday that “entitlement programs” like Social Security “have to be adjusted and fixed,” and that Republicans will introduce a plan to that effect next year. But this is a ploy, because while the cost of maintaining Social Security benefits at their promised level isn’t trivial, it is in fact affordable. According to the Trustees’ report, the actuarial balance of OASDI up through 2050 — the amount of additional funds it would need to keep paying full benefits for the next 25 years — is 1.06 percent of GDP. To put that number in perspective, the Trump administration proposes increasing military spending next year by $420 billion, equivalent to about 1.4 percent of GDP – without any discussion of whether that’s affordable Yet how did we get to the point where Social Security will need to be topped up? The main answer is that we have an aging population, with a growing ratio of retirees collecting benefits to workers paying into the system: Trump’s anti-immigration policies are making this problem worse. According to the Trustees’ report, lower immigration will deepen Social Security’s financial hole because many immigrants are working-age adults who will pay into the system for decades before they collect benefits. In fact, this problem may be much bigger than the report acknowledges: The report’s baseline assumption is that we’ll have net immigration of almost 1.2 million people a year, and even the pessimistic case assumes 750,000 a year. Meanwhile actual net immigration has already been cut far below that — and may now be negative. Moreover, Social Security is being financially damaged by growing income inequality in America. Payroll taxes are levied only on wages up to $184,500, and they don’t touch capital income. With the distribution of income increasingly shifting from labor to capital, as well as becoming more unequal among wage-earners, revenue from the Social Security payroll tax has been falling as a share of national income. From 1990 to 2024, it fell from 5.02 percent of gross domestic income to 4.46 percent. Which brings me to the question that, these days, we ask about everything: How might Social Security be affected by the advent of AI? A short answer: If, as many of us fear, AI accelerates rising income inequality, it will further reduce the payroll tax receipts that currently pay for Social Security and further endanger its finances. On the other hand, if AI, as its advocates promise, leads to faster economic growth, it will increase the potential tax base that could and should be used to support Social Security and other social insurance programs. But to take advantage of that larger base, we’ll have to get serious about taxing wealth and capital income. Is Social Security in trouble? Yes, but only because of the way its financing is currently structured — a structure that no longer works well because our society and economy have become so unequal. Moreover, Trump’s immigration policies are further endangering its already deteriorating financial condition. So don’t believe Republicans’ gaslighting that it will be necessary to cut Social Security benefits. All that is necessary to preserve Social Security is political will to raise taxes on the wealthy and a sensible immigration policy. MUSICAL CODA Actually 67 under current law.
Federal curveball upends NC’s plans for Medicaid work rule
New exemption guidance from CMS on who qualifies as "medically frail" has forced the state back to the drawing board.
Experts warn: Natural gas leaks may pose health risks
A Boston University study found that low levels of natural gas are leaking into many New England homes
Winston Marshall: UK politicians ‘won’t do anything’ to stop violence
WARNING: Graphic content — Grammy-winning musician Winston Marshall discusses a Sudanese migrant accused in the stabbing of a Belfast man in Northern Ireland on ‘The Will Cain Show.’
Work requirements and Medicaid cuts, health experts worry changes will impact medically frail people
Seriously ill Hoosiers could have to prove they are unable to work under a new federal definition of work requirements put forward by the Trump Administration.
The Health and Wellbeing of Formerly Incarcerated People in Connecticut: Insights from the DataHaven Community Wellbeing Survey
By Carter Shannon, Nat Markey, Nora Hodgson, Samantha Lydell, Andrew Carr, and Mark Abraham, DataHaven About this Report Approximately 1 in 5 men aged 18–64 in Connecticut have experienced incarceration at some point in their lives. This population includes people who have been held in a local jail for a single night and those who have served lengthy prison sentences, and it cuts across race, age, geography, and socioeconomic background in ways that reflect broader structural inequities in the criminal legal system. Yet across nearly every indicator of wellbeing, formerly incarcerated people in Connecticut face significant disparities compared to those without an incarceration history. This report explores data on the experiences of formerly incarcerated men in Connecticut from the DataHaven Community Wellbeing Survey (DCWS). The DCWS illuminates significant gaps in economic wellbeing, physical health, mental health, and social support between men with and without incarceration histories in Connecticut. The survey also reveals worse self-reported outcomes for formerly incarcerated people across a range of quality-of-life indicators, with disparities that are often most severe among those who have been incarcerated more than once. These disparities do not arise by chance. They are shaped by a policy landscape that erects lasting barriers to housing, employment, and healthcare for people leaving incarceration, as well as by the physical and psychological toll of incarceration itself. This report is being written in the political context of federal funding cuts to social programs and proposed rollbacks to Medicaid eligibility, changes that will disproportionately impact people with incarceration histories, who are more likely to rely on public health coverage and other safety net supports.
The number of uninsured Californians could nearly double by 2030, says new report
Historic cuts to Medicaid and low-cost California health insurance could leave 4.6 million residents with no coverage. A new report from the UC Berkeley Labor Center says the working poor, older workers and undocumented workers could bear the brunt.
Medicaid cuts reignite clash between health worker unions, hospitals
The looming impact of federal Medicaid cuts has reignited a costly battle between California’s medical industry and one of its largest health worker unions.
Looming Medicaid Cuts Supercharge California’s Latest Labor-Industry Fight
One of California’s largest healthcare unions is sponsoring two initiatives that would regulate community clinics and cap executive and managerial pay at hospitals and physician groups. In the most recent eruption of a long-standing feud, the measures have drawn fierce opposition from a wide swath of the medical industry.
UMass Chan research finds Medicaid-funded nutrition, housing programs linked to improved health outcomes, lower costs
New research finds Medicaid-funded nutrition and housing programs are linked to improved health outcomes and lower healthcare costs in Massachusetts.
Former Superman Dean Cain takes jab at Milly Alcock's Supergirl
Milly Alcock, star of the new movie 'Supergirl,' was the butt of a joke posted on social media by actor Dean Cain, who played a ʼ90s TV Superman.
Michigan’s Medicaid expansion improved both health and finances
Michigan’s Medicaid expansion, called the Healthy Michigan Plan, helped individuals’ physical, mental and financial health, and supported the hospitals and clinics used by all Michiganders.
Michigan’s Medicaid expansion improved both health and finances
Michigan’s Medicaid expansion, called the Healthy Michigan Plan, helped individuals’ physical, mental and financial health, and supported the hospitals and clinics used by all Michiganders.
Trump’s health care affordability czar touts Medicaid cuts to hospital leaders
Hospital execs say they're working to mitigate the impacts of the looming cuts.
Dangerous Foul on Indiana Fever's Caitlin Clark Sparks Backlash
Indiana Fever star Caitlin Clark nearly injured her ankle after a hard closeout by a Washington Mystics player.
Ohio lawmakers backtrack after trying to restrict Medicaid home healthcare
Ohio Republicans have reversed course after their proposal to restrict home healthcare under the state's Medicaid program received massive backlash.
Where to watch Caitlin Clark, Indiana Fever vs. Washington Mystics: Live stream, start time, TV channel, odds for Monday, June 8
The Fever travel to DC to take on the Mystics on Monday night.
She Paid $20,000 For Her Own Pregnancy, Then Built The Fix For Medicaid Moms
Malama Health's doula-led model cuts preterm births 45% for Medicaid moms. Mika Eddy is building the maternal care infrastructure America never had.
Something is wrong with Caitlin Clark's shooting
The Indiana Fever are going to want to figure this out.
China says 'illegal' outbound investment crackdown won't lead to forced liquidation
China's crackdown on "illegal" cross-border investment won't lead to mainlanders' offshore accounts being closed and assets liquidated forcibly, the securities regulator said, amid investor concerns over the fate of $54 billion worth of assets.
Dalton Kincaid dominates Greg Rousseau’s charity softball game
Kincaid looks to be as healthy as he’s been in a while
'The deep sea will come to me': The blackwater diver who photographs the creatures of the deep
When photographer Jialing Cai plunged into the ocean in the dead of night, she found creatures of the deep had risen up to meet her.
The Trump administration makes it harder for some sick Americans to maintain Medicaid
Millions of sick Americans could have a tougher time retaining – or even signing up for – Medicaid coverage after the first-ever federal work requirement begins in January.
Area healthcare workers rally at ‘Health Cuts Kill’ demonstration
Speakers spoke out against cuts to medicare and medicaid, as well as other federal funding reductions that, they say, will have devastating impacts.
Nevada proposes pausing licensing for new hospice and home-health providers while it probes possible fraud
Nevada is proposing a months-long moratorium on new licenses for hospice and home-health providers as well as a pause of new enrollments into the state’s Medicaid program while the authoritie...
Ohio Medicaid Program Suspends 49 Home Health Providers Amid National Fraud Crackdown
As federal officials intensify scrutiny of Medicaid-funded home-based care, Ohio has become the latest state to take aggressive enforcement action against
Citing fraud worries, Nevada pauses hospice and home health licensing, Medicaid enrollment
Nevada is putting a pause on licensing for hospice and home-health providers and new Nevada Medicaid enrollments, citing worries about fraud.
CT community health workers still waiting for Medicaid support
A 2023 law requiring CT's Medicaid program to pay for services provided by community health workers has yet to be implemented.
Millions of Kids Could Lose Insurance as GOP Healthcare Cuts Start To Bite
Big cuts to healthcare programs in the 2025 GOP budget law are creating an affordability crunch for many Americans: Higher health insurance premiums. Confusion about whom Medicaid will cover under the new rules. KFF Health News chief Washington correspondent Julie Rovner explains how the changes could leave nearly 2 million children uninsured.
Caitlin Clark’s sidestep triple vs. Dream is a must-see
Caitlin Clark continues to amaze WNBA fans with her smooth moves on the court. The Indiana Fever superstar once again showcased her elite skill set in the third quarter against the Atlanta Dream on Thursday. She brought the ball toward…
CT-FFR standardized in new SCCT-SCAI consensus statement
FFR-CT literature has reached a state of maturity where experts can comfortably start to provide guidelines to the wider community.
MDHHS Finalizes Specialty Behavioral Health Services Location Policy
The Michigan Department of Health and Human Services (MDHHS) recently finalized Medicaid Policy Bulletin MMP 26-17, effective July 1, 2026, which clarifies reimbursement requirements for specialty behavioral health services provided through Prepaid Inpatient Health Plans in home, community and residential settings.
Home-Delivered Medical Meals Reduce ER Visits, Save Money
By Dennis Thompson HealthDay ReporterTHURSDAY, June 4, 2026 (HealthDay News) — Providing home-delivered, medically tailored meals to people with chronic health conditions lowers their risk of landing in a hospital, a new study says. Medicaid patients had fewer hospitalizations and ER visits while ...
Medically tailored meals cut costs and health emergencies, study finds
In the US, the first large statewide analysis of Medicaid Massachusetts data reveals that hospital patients with diabetes, heart disease, depression, and other conditions who received home-delivered, dietitian-designed meals experienced significantly fewer health emergencies and lower costs of care than those who did not. At least a dozen US states are rolling out medically tailored meals in pilot projects through the federal-state health insurance program, which serves 71 million citizens who qualify based on income or disability status. Massachusetts is the first to offer this to citizens with diet-related diseases.
Advocates say feds' Medicaid work rule could make qualifying for healthcare needlessly hard
Advocates say stringent terms in the federal rule for implementing work requirements will make it more difficult even for people who qualify to remain covered by Medicaid.
Caitlin Clark’s new Nike PE spotted in NBA Finals
Caitlin Clark’s WNBA arrival has helped skyrocket the league’s popularity. The term “The Caitlin Clark Effect” describes the impact she has had to take its reach to unprecedented heights. It has also reached the NBA Finals. Julian Champagnie wore her…
Medicaid termination letters leave South Florida behavioral health patients and therapists in limbo
Ohio Medicaid fraud discussed in House hearing
During the hearing, Republicans repeatedly blamed Medicaid fraud in Ohio on immigrants, specifically from Somalia and Bhutan, while Democrats accused Republicans of trying to score political points on immigration to distract from greater corruption in the Trump administration.
Ohio Medicaid fraud discussed in House hearing
During the hearing, Republicans repeatedly blamed Medicaid fraud in Ohio on immigrants, specifically from Somalia and Bhutan, while Democrats accused Republicans of trying to score political points on immigration to distract from greater corruption in the Trump administration.
Dynasty Fantasy Football Tight End Rankings: Oronde Gadsden and Dalton Kincaid could be great buy lows
Dynasty TE depth rises as Kincaid, Gadsden and buy-low targets gain value
Trump’s Medicaid Work Rules Force States To Scrap Plans and Rework Systems
By Rachana Pradhan and Samantha Liss | KFF Health News The Trump administration’s rollout of a federal mandate that millions of Americans on Medicaid must work or risk losing health benefits will force states to scrap months of preparation, according to advocates for Medicaid enrollees and ...
People with cancer or HIV could lose Medicaid under new work rules, advocates say
Adults on Medicaid will be required to work 80 hours per month. The Trump administration says people who are sick will have to prove they are too sick to work to be exempt from the new work rules.
Study found canceled Medicaid pilot program saved in healthcare costs
NORTH CAROLINA — A pilot program designed to use Medicaid funds on non-medical needs — food, housing and transportation needs — was discontinued last year, but a study found it decreased healthcare…
Popular GLP-1 weight-loss drugs linked to lower risks of addiction and overdose
A massive study of more than 600,000 U.S. veterans suggests that popular GLP-1 drugs such as semaglutide may do far more than help with diabetes and weight loss—they could also fight addiction itself. Researchers found that people taking these medications were less likely to develop substance use disorders involving alcohol, nicotine, cannabis, cocaine, opioids, and other drugs, while those already struggling with addiction experienced fewer overdoses, hospitalizations, emergency visits, and drug-related deaths.
Trump’s Medicaid work requirements have an unwelcome surprise for some states and patients
Advocates were already dreading Medicaid's work requirements. New rules are worse than they feared.
For some chronically ill Mass. residents, food is medicine
New research shows people on Medicaid who receive medically-tailored meals are less likely to need hospital care or land in emergency departments.
Caitlyn Jenner sounds alarm on ‘big problem’ in California politics
Fox News contributor Caitlyn Jenner voices a lack of faith in California's voting system on ‘The Story.’
New Federal Rule Makes Sweeping Changes to Health Insurance Marketplace Regulations
A new rule issued by the Centers for Medicare and Medicaid Services makes a long list of changes to the Affordable Care Act marketplaces that the agency says will lead to more plan choices and lower premiums for consumers.
'Seven Days in June': Protests nationwide this week rally against Trump $1 trillion cuts to health care and hospitals
Lin-Manuel Miranda and Noah Wyle are among the celebrities supporting the events, which oppose recent cuts to Medicare, Medicaid, and more.
‘Enough is enough’: Shaq does not hold back his opinion on Angel Reese
Over the years, Atlanta Dream superstar Angel Reese has become one of the most polarizing players in sports, thanks in large part to her high-profile rivalry with the face of the league, Caitlin Clark. Given her role as a sort of villain to Clark, Reese has received a disproportionate amount of criticism and negative attention…
How one state’s medical meal program lowered health care costs
Medicaid work requirements, fast-tracked funding for experimental Ebola vaccines, and more health news from Morning Rounds
Shannon Sharpe doesn’t hold back on Caitlin Clark’s behavior
Shannon Sharpe has run out of patience with Caitlin Clark. The sports personality sounded off on the Indiana Fever star’s heated sideline exchange with head coach Stephanie White, calling her behavior a growing problem for the team in the 2026…
Wales' Cain leaves Leicester after WSL relegation
Wales forward Hannah Cain is leaving Leicester City following the club's relegation from the WSL but Wales goalkeeper Olivia Clarke will stay.
Medically Tailored Meals Produce Better Health and Lower Costs
First statewide Medicaid analysis finds fewer hospitalizations and emergency visits—and lower healthcare costs—among meal recipients in Massachusetts
Statement from the Paragon Health Institute on CMS Interim Final Rule Regarding Medicaid Work Requirements
Able-bodied adults of working age should engage in employment, job training, education, volunteering, or community service.
Missed Opportunities: Using Medicaid Section 1115 Projects to Improve the Health of Medicaid and Medicare Beneficiaries
Medicaid Section 1115 demonstration projects are widely used to test innovative policies but are subject to “budget neutrality” limits so that federal expenditures do not exceed what the federal government would have spent if the project was not adopted.
Fever's whole approach is setting Caitlin Clark up to fail
Indiana might want to approach this differently going forward.
Caitlin Clark benched after heated exchange with coach Stephanie White
Saturday night’s nationally televised game against the Portland Fire did not go as planned for the Indiana Fever, and the frustration was evident on the sidelines. The Fever entered Saturday night’s game as a 12-point favorite over the Fire as they looked to rebound from Thursday night’s loss to the Golden State Valkyries. However, Indiana…
Healthcare providers brace for Medicaid cuts. Are layoffs in rural NC next?
More than 250,000 North Carolinians could be kicked off Medicaid next year. The cuts have the potential to devastate local economies, particularly in rural areas, if hospitals and health clinics respond by conducting layoffs or shutting down entirely.
Megan Gustafson scores 22 as Fire beat Fever 100-84
Megan Gustafson had 22 points and the Portland Fire held Indiana’s Caitlin Clark to six points in a 100-84 victory over the Fever on Saturday night. Carla Leite had 18 points and 12 assists, while Emily Engstler had 16 points and 10 rebounds, the first double-doubles for the expansion Fire. Portland has won four of its last five games.
U.S. Military Kills 3 on Boat Suspected of Drug Trafficking
Around 200 people have now been killed in the attacks since last year, in an operation critics say has failed to slow the smuggling of cocaine.
Caitlin Clark Reacts After Emotional Personal Announcement on Friday
Indiana Fever star Caitlin Clark shared a heartfelt reaction after a children's hospital revealed the impact of her visit with a 10-year-old boy battling leukemia.
What the Massive Medicaid Cuts Mean for Your Health Care
We’ll take stock of what the new Medi-Cal landscape means for everyone’s access to health care in California and the Bay Area.
Dakich: sports media has created an ‘industry’ out of complaining about white athletes like Caitlin Clark
OutKick host Dan Dakich rips Cari Champion for accusing Caitlin Clark of WNBA favoritism, calling it part of a broader race-based media pattern.
Caitlin Clark declines to speak to media following season-worst performance vs. Valkyries
Caitlin Clark becomes fastest player in WNBA history to reach 1,000 points and 500 assists as Valkyries pull off narrow win
4 student-athletes at Aquinas Academy commit to collegiate sports
Four student-athletes from Aquinas Academy in Hampton celebrated their official signing day May 21 by inking their intentions to continue sports at the collegiate level. Seniors Caitlyn Abbett of Aspinwall, Meghan McGee of Renfrew, Patrick Richthammer of Hampton and Jonah Burchill of Ambridge gathered in the school’s gymnasium with friends
Bipartisan leaders gather to discuss challenges to American leadership at 2026 McCain Institute Sedona Forum
As global instability intensifies and political divisions deepen at home, the 2026 Sedona Forum convened some of the world’s most influential policymakers, military leaders, journalists and business voices to address a defining question: What will it take to sustain American leadership in a rapidly changing world?
Business Coaching or Business Scam? FTC Shares Red Flags
FTC warns business owners and consumers to be cautious of coaching programs promising quick money, guaranteed income or little risk.
Rural Health Transformation: Insights from States
The Rural Health Transformation Program (RHTP) will provide $50 billion to states over the next five years to transform rural health care. States received award decisions in late 2025 and are moving fast, with funding deadlines and reporting requirements already on the horizon. This program is rolling out as rural areas face significant federal Medicaid cuts over the next decade. What does this mean for Congress? Join the Bipartisan … Continued
Medicaid’s Vital Role in Mental Health and Substance Use Disorder Care
Mental Health Awareness Month is an opportunity to recognize Medicaid’s essential role in helping people access mental health care and treatment for substance use disorder. As the nation’s largest payer for mental health and substance use disorder care, Medicaid covers approximately twenty two million non-elderly Americans with these conditions who rely on the program’s essential […]
From The Sports Desk: The Thunder’s role players are playing like stars in West finals
Jared McCain and Alex Caruso have helped the Thunder take a 3-2 lead over San Antonio in the Western Conference finals. Also: Jude Bellingham is today’s World Cup spotlight.
Caitlin Clark's Honest Assessment of Raven Johnson After 6 Games
Indiana Fever superstar Caitlin Clark has seen enough from teammate Raven Johnson to make an assessment of the rookie's early progress with the team. Johnson has played in all six games for the Fever thus far. Johnson's numbers do not exactly pop out, but Clark is more than happy with the transition she's seen from the 23-year-old.
US to set up quarantine facility in Kenya for Americans exposed to Ebola, WSJ reports
The Trump administration is expected to deploy U.S. public health officers to Kenya to staff a potential quarantine facility there amid the Ebola outbreak in the Democratic Republic of Congo, the Wall Street Journal reported on Tuesday.
$775 billion, $1.2 billion, and $38k
Medicaid cuts stemming from Republicans' 2025 tax law are expected to be even bigger than forecast.
Breeding Possibilities for Better Crops
Driven by a strong work ethic, Caitlin Kestell, a doctoral student in crop science, pursues genome editing and biotechnology to advance crop improvement and inspire young scientists.
Vaya Health and Partners Health Management to merge on Oct. 1
The North Carolina Department of Health and Human Services' has approved the consolidation of Vaya Health and Partners Health Management.
Kentucky Voices for Health advocates for equitable healthcare policies
Kentucky Voices for Health advocates for equitable healthcare policies and protects programs like Medicaid.
Kentucky Voices for Health advocates for equitable healthcare policies
Kentucky Voices for Health advocates for equitable healthcare policies and protects programs like Medicaid.
Jared McCain Is Giving Off Life Lessons Left And Right
This guy must be Dale Carnegie’s love child. Seriously.
Outlet apologizes for misquoting 'Outlander' star Caitríona Balfe, reporting she called Scotland town 'an armpit'
'Outlander' star Caitríona Balfe has had her name cleared after an outlet mistakenly reported that she called a small Scottish town an 'armpit' in an interview.
Highlights! Usyk Survives Rico, Bad Stoppage Tarnishes Win
Pound-for-pound great, Oleksandr Usyk, was back in action earlier today (Sat., May 23, 2026), defending his WBC Heavyweight title against kickboxing legend, Rico Verhoeven, in front of the Pyramids of Giza in Cairo, Egypt, in what was truly a one-of-kind setting for a boxing match. It took a bit for Usyk to get warmed up, […]
After WCF gem, Thunder's Jared McCain says he'll 'always have love' for Daryl Morey despite 76ers trading him
Bond breakout? Big effects of bad data. Immigration and thermostatic politics & dad-chat is coming for dad-books.
Thank you for opening your Chartbook email. Anna Airy, A Shell Forge at a National Projectile Factory, Hackney Marshes, London, 1918 Bond breakout - John Authers Across the developed markets, bond markets are staging a slow-motion car wreck. Looking at the drastic moves in the US, Japan, the UK and France, Barclays’ Ajay Rajadhyaksha commented: “Last week, long bonds broke. Not in one country. In all of them. Simultaneously. Four countries. Four different political systems. Four different central banks. But the same trade — “get me out of duration!”” Each country has its own contributing political problems, but the uniformity of the shift out of long-term bonds with high duration makes clear that something broader is afoot. For Rajadhyaksha, it is “simple and uncomfortable.” The developed world “has too much debt, too little fiscal discipline, and no political appetite for fixing either.” If there’s a trigger, it has been the Iran war and the resulting shock to oil supply. Source: Bloomberg G7 countries are now borrowing at rates that were enjoyed by EM in the early 2020s For contributing subscribers only. Subscribe Trade between China and Russia has grown in recent years For contributing subscribers only. Subscribe Big effects of bad data A decade ago nearly nine in ten Americans, when approached, agreed to fill out the Current Population Survey, which is administered to about 60,000 households each month and asks about, among other things, employment. Fewer than seven in ten do so now (see chart 1). For the Consumer Expenditure Survey, which tries to capture 3,700 households monthly, the response rate is down from 68% to 40%. … When the information becomes less reliable, investment decisions get more difficult to make. Some may be delayed, creating a potential drag on the economy. A new working paper by Nicholas Bloom of Stanford University, Erica Groshen, former head of the Bureau of Labour Statistics (BLS) now at Cornell University, and Duncan Hobbs and Michael Strain of the American Enterprise Institute, a think-tank, hazards an estimate. Preserving trust in “the integrity and quality of official statistics”, the authors claim, generates economic benefits of about $25 for every $1 spent on the BLS, the agency with an annual budget of $700m that is responsible for many of these data. To arrive at their conclusion the quartet analysed an ignoble episode in the BLS’s recent history. On August 1st 2025 Donald Trump sacked Erika McEntarfer, appointed as the agency’s commissioner by his predecessor, Joe Biden. The president alleged, without evidence, that the BLS’s steep downward revision to recent jobs numbers had been “RIGGED in order to make the Republicans, and ME, look bad”. In fact, it was the wanton dismissal that looked bad in the eyes of many observers. In the following seven days there was a 50% leap, relative to the week before, in the average value of the index of Economic Policy Uncertainty (EPU), which tracks the number of articles mentioning such uncertainty that are published daily in American newspapers. This was a discernible jump even when compared to the chaos caused by Mr Trump’s trade war in April 2025 and his real one in Iran in the past two months (see chart 2). Based on Mr Bloom’s earlier study with other colleagues of the EPU’s impact on business investment, industrial production and employment, the authors estimate that the jump reduced American GDP by over $100bn (0.3%) and non-farm payrolls by 168,000 (0.1%). Source: The Economist Immigration and thermostatic politics (Sarah O’Connor in the FT) A strange thing happened a year and a half ago. No sooner had Americans elected Donald Trump as president on an explicitly anti-immigration platform than US public opinion began to swing much more favourably towards immigration. … to political scientists who study “thermostatic” politics, this development is no surprise at all. Public opinion often moves against the prevailing party, especially if they are perceived to have gone “too far” in one direction. The phenomenon was first explored in the 1990s with reference to fiscal policy, but in recent years it has been particularly evident in the realm of immigration policy. While these swings in opinion polls can make it seem as if people don’t know their own minds, they can be a useful democratic check on governments by sending bright flashing warning lights when policies stray too far from the public’s comfort zone. The problem comes when politicians misinterpret those signals. When people tell pollsters they want less immigration, or think it is bad for the country overall (or the converse), they are often expressing an opinion about how things appear to be going in that moment relative to their preferences, rather than a deep shift in their underlying views. According to Alexander Kustov, a political scientist, most Americans’ views are quite stable and moderate: they support immigration that is controlled and in the national interest, and oppose flows that are disorderly or under-enforced. In the US, he argues the Trump administration over-interpreted dissatisfaction with high immigration under Joe Biden, and implemented policies that went too far for many voters. “People don’t necessarily change their idea about their ideal immigration policy, but they can react to what the government is currently doing,” he told me. “A lot of people are not happy with what the Trump administration are doing — right now we’re not talking about border enforcement, we’re talking about people not just getting harassed, but killed.” But similarly, he added, pro-immigration advocates would be making a mistake to interpret the recent, more favourable swing towards immigration as a deep-seated ideological shift in attitudes. The recent history of UK immigration policy offers another cautionary tale. After the 2016 Brexit referendum, public concern about immigration fell. This was partly because net migration statistics declined, but also because people felt a sense of catharsis and control, says Sunder Katwala, director of British Future, a think-tank. By 2019, the public ranked immigration as only the ninth biggest issue of concern, according to Ipsos polling. But when the Conservative government liberalised visa routes for students and care workers between 2019 and 2022, that helped net migration to surge. And so, too, did public concern. Today’s Labour government has implemented another sharply restrictive turn in immigration policy. As Kustov and researcher Caitlyn Yates argue, thermostatic public opinion should be a useful check on politicians. Instead it seems to have helped to magnify the pendulum swing in the UK. The government over-interprets and overreacts to a change in public opinion, which reacts in turn, prompting a sudden swing the other way. Source: Financial Times HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. If you are persuaded to click, please consider the annual subscription of $50. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe Anna Airy, Shop for Machining 15-Inch Shells: Singer Manufacturing Company, Clydebank, Glasgow, 1918 Racing for a vaccine … we have been here before! The deadly Ebola outbreak in two African countries driven by a virus species with no vaccine has triggered an urgent search for a potential jab, in a test of troubled global efforts to avert threats posed by emerging diseases. A World Health Organization advisory group is due to would meet on Tuesday to recommend candidate jabs to prioritise for clinical trials, the global health body said. It will assess data including an analysis by the Coalition for Epidemic Preparedness Innovations (Cepi), which was set up after failures in the international response to a previous Ebola crisis. The latest Ebola outbreak in Democratic Republic of Congo and Uganda has infected hundreds of people and killed more than 80, health authorities say. Cepi’s reaction will be a crucial indicator of its progress towards its wider goal of producing vaccines for pandemic threats in just 100 days, despite steep cuts to international health funding. “If there was ever a time that we could show the world why Cepi is needed and show the world why the 100-day mission is needed, it’s now,” Nicole Lurie, the organisation’s executive director for preparedness and response, told the FT. “We’re happy to accept that responsibility, but obviously we need help from partners — particularly financial help in the long run.” DR Congo and Uganda would make the final decision on whether to press ahead with any vaccine candidates endorsed for clinical trials by the WHO experts, the global health body said. “Other ethical and community acceptability issues will be considered,” said the WHO, which declared the latest outbreak a public health emergency of international concern on Sunday. “This will be important to make sure that the trial, if it happens, will be adequately communicated to the population.” Lurie said Cepi had provided information from a survey of research teams and companies working on drugs that might be effective against the Bundibugyo virus behind the outbreak. The organisation hoped soon to announce partners in the quest for a jab, she added, although she declined to give a timescale for when one might be developed. Cepi’s Nicole Laurie said global health bodies were ‘getting some live-fire drills’ with hantavirus and the latest Ebola outbreak. The hunt for a vaccine should be helped by scientific advances including the use of artificial intelligence to find drugs active against viruses, Lurie said. Existing jabs against the Zaire Ebola virus responsible for many previous outbreaks might provide a basis for tackling the Bundibugyo species, she added. “We’ll see how far and how fast we can get,” Lurie said, adding that Cepi had done preliminary work recently on a possible jab for the rat-borne hantavirus responsible for a recent fatal outbreak on a cruise ship. “Both with hantavirus and now with Ebola, [we] are getting some live-fire drills.” Source: Michael Peel in the Financial Times Dad-chat is coming for dad-books. (By Pamela Paul and Jeffrey A. Trachtenberg in the WSJ) They were the go-to gifts for Father’s Day: a book about some little-known chapter of World War II, the sweeping narrative of a shipwreck, perhaps the latest presidential biography. These days, dad books are a dying breed. Nonfiction book sales have been in decline for the past four years, and are now the most challenged segment of the print book market. Publishers say certain types of books still fare well—including celebrity memoirs and religious titles. But in recent years, print sales in such categories as biography, current affairs and business and economics—what publishers refer to as “serious nonfiction” and which tend to resonate especially with men—have fallen considerably. Sales of nonfiction print titles were down nearly 8% through May 9 this year, and sales of books about politics and current affairs were down 19%, according to book tracker Circana BookScan. Publishing has long been subject to cyclical changes, with trends in format and genre taking over bookshelves in grand sweeps. (Remember the adult coloring-book craze? Or the stratospheric rise of romantasy?) But many in publishing believe the decline in serious nonfiction is more existential. “The trend couldn’t be clearer,” said Jonathan Karp, the former chief executive of Simon & Schuster and publisher of the new Simon Six imprint. “This is a sea change and people should wake up and realize we’re living in a new world.” One culprit for the shift: a new media diet for fans of more serious nonfiction. … Sixty-two percent of men and 54% of women consumed a podcast in the prior month, according to a recent survey by Edison Research at SSRS, up from 46% and 39%, respectively, in 2023. “When we have internal meetings to talk about this problem, it always comes around to podcasts,” said Jonathan Burnham, president and publisher of the Harper Group at HarperCollins Publishers. “The man who wants to read American history is now tuning into one of the many good podcasts about history that lends the quiet attention to a serious subject he’s looking for. It makes the idea of sitting down with a 700-page Ron Chernow book less appealing. You’ve scratched that itch.” Source: Wall Street Journal Remarkable report by Novara from the nationalist rally in London in mid May. Anna Airy, Leopard Moth and Plums, 1915 If you’ve scrolled this far, you know you want to click: Subscribe
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