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The Great Pyramid of Giza is surprisingly earthquake-proof
Seismologists found yet another benefit to ancient Egyptian engineering.
Scott Coker is back in MMA with a $60M venture, ready to shake up the sport again
Coker, who uncovered the talents of stars like Daniel Cormier and Gina Carano, is back again, looking to build yet another MMA promotion.
House expected to take another Iran war vote
The vote is the latest effort by Democrats to rein in Trump's military campaigns by using the War Powers Resolution of 1973
Democrats are hoping for a breakthrough as the House takes another Iran war vote
The House is expected to vote on legislation to compel President Donald Trump to withdraw from the war with Iran.
Away game: NYC students who play sports for other schools
This episode of P.S. Weekly tackles what it’s like when you have to play for another school’s team.
British Politics Is Obsessing Over the Bond Market. Here’s Why.
Britain is facing another round of turmoil in government leadership, jolting debt investors who were already on high alert over inflation.
New website puts Platner on notice by amplifying scandals: 'One red flag after another'
Collins-aligned fundraising committee is compiling "red flags" from Democratic opponent Graham Platner's past ahead of Maine's 2025 Senate general election.
Texas Continues Raising the Bar on Regulatory Efficiency
At the Texas Association of Business (TAB), we’ve consistently advocated for pro-business policies that strengthen Texas’ competitive edge. Cutting red tape, improving government efficiency, and streamlining regulations are essential to keeping Texas the nation’s leader in job creation, business expansion, entrepreneurship, and corporate relocations. Last week, Texas took another meaningful step in advancing our state’s…
Inside NFL owners meetings: International Super Bowl talk, Rashee Rice fallout, Seahawks sale buzz and more
Plus, the Vikings narrowed their GM search, NFL owners approved another private equity investment and the league's Olympic flag football plans are taking shape
I saw Ebola as both doctor and patient. I wish people cared more about the Africans I worked alongside
“As another Ebola outbreak unfolds, we cannot repeat the mistakes of the past,” writes Krutika Kuppalli.
Whooping cough cases confirmed at another Pasadena school, health officials say
The Pasadena Public Health Department Health announced it is investigating an outbreak of whooping cough involving three confirmed cases at Blair Middle School.
UFC power rankings, top 10 fighters on May 20, 2026
Hello everyone, and welcome back for another week of rankings in the UFC. What looked to be a sub-par card for UFC Vegas 117 turned into a highly profitable night for bettors. When you add in the MVP Netflix card…
This week in Santa Cruz County business: Tourism officials focusing on regional visitors amid rising fuel costs; Diversity Center unionizes
Jessica M. Pasko takes the pulse of Santa Cruz County tourism ahead of the crucial summer visitor season, notes another local unionization effort and relays names, dates and numbers to know from the county business scene.
Crooked Letter Sports: Another championship, another 40-win season, but does Southern Miss have a chance for a national seed?
Today’s Crooked Letter menu has several flavors: college baseball, the Ferriss Trophy, Aaron Rei’s much-deserved PGA Championship victory, another remembrance of Charlie Rugg, the NBA phenom named Wemby and much, much more.
Springsteen's latest political moment
Bruce Springsteen heads to Cleveland on Friday at yet another political inflection point.
No, Notre Dame should NOT play BYU every year
There are enough Holy War’s in college football (and the world); Notre Dame and BYU don’t need to create another one.
Start of Elland Road redevelopment 'unbelievably exciting'
No sooner had the empty beer bottles and wine glasses been swept up by the catering staff after ushering the corporate ticket holders from the Norman Hunter, Lucas Radebe and Billy Bremner Suites after heartily celebrating Dominic Calvert-Lewin's late winner against Brighton on Sunday, work began on Elland Road's John Charles Stand. It served as a reminder that Leeds are already a competitive force in a Premier League in which they are assured of another campaign. Vital to the project is the provision of either a light rail or tram from Leeds city centre with a stop at Elland Road and then on to the White Rose area.
Another One Run Loss
Jays 4 Yankees 5 I don’t know….. Dylan Cease was pitching great and the Jays got three runs in the fourth. All seemed good in the world. In that fourth: The long break seemed to affect Cease, he wasn’t great in the bottom of the fourth, giving up a couple of walks and a Ryan […]
McMahon, Rice power Yankees to win over Blue Jays
Another day, another New York nailbiter.
Trump ousts Massie, and other takeaways from Tuesday’s primary elections
President Donald Trump’s retribution campaign steamrolled another Republican rival on Tuesday, with a Trump-backed challenger ousting one of the president’s leading intra-party antagonists, Rep. Thomas Massie, in a Kentucky primary.
PWHL expands to Bay Area with San Jose team: See official colors
The Professional Women's Hockey League is expanding to San Jose, California, bringing another women's sports team to the Bay Area.
Plex's 200% Lifetime Pass price hike tries forcing users to another subscription
Plex says that it has considered getting rid of Lifetime Passes.
Amazon Supply Chain Services: Another Tool to Help Small Businesses Accelerate Growth - Small Business & Entrepreneurship Council
By Karen Kerrigan – For a small business owner, having a great line of products with solid demand is an important milestone. But delivering those products in a timely manner and at a cost that works are key steps to business viability and growth. Indeed, logistics management can be a steep challenge for many small […]
Climate, food and health challenges call for one conversation, not separate solutions
In New Orleans, food is the language people use to speak to one another. It is how neighbors greet each other, the center of every gathering and one of the main characters in the city’s own story. So when farmers across Louisiana faced a sudden and severe drought in the summer of 2023, they reached … Continue reading Climate, food and health challenges call for one conversation, not separate solutions
Small Businesses Oppose New Interim Final Rule on Credit Card Swipe Fees
NFIB sent a letter opposition to the Office of the Comptroller of the Currency (OCC) interim final rule on swipe fees.
SCORE Act hits another roadblock — what it means for college sports
Congress’ long-running push to fix college sports stalled again as the SCORE Act was pulled ahead of a House vote following renewed political tension.
'A wave of enthusiasm' for 'another fresh start'
Part of the recipe for football's incredible popularity is the way that a summer break of buying and selling players and changing things around behind the scenes can convince any fanbase that things are set to improve in the season to come, no matter how badly the previous one ended. Chelsea are a perfect example right now. A big injection of hope can make all those intractable issues feel manageable again, and that is what the news about Xabi Alonso being appointed as the club's new manager has done.
Solar to dominate energy by 2035, but AI data centers will keep fossil fuels in business
Costs for solar panels are expected to drop another 30% in the coming decade, helping the tech cement its lead in energy markets.
Danny Strohm Joins Little Rock as Assistant AD for Sports Performance
Little Rock Athletics has added another experienced piece to its athletics performance staff with the hiring of Danny Strohm as Assistant AD for Sports Performance. Strohm arrives at Little Rock with an extensive Division I background and a reputation for individualized athlete development, bringing experience from multiple successful programs across collegiate athletics.
DC politics have arrived in West Virginia
West Virginia politics have taken on a distinctly DC-style edge, brought in by Gov. Patrick Morrisey. While this approach may offer short-term gains for the governor and his allies, the long-term effects of the 2026 Republican Primary could extend well beyond another election cycle with fewer people willing to put their name and reputation on
The 2025-26 Clarion Sports Awards
Athletics at the University of Denver had yet another successful year. Highlighted by hockey’s national championship, gymnastics and women’s lacrosse making runs into the NCAA tournament and the
Once a longshot, now a contender: Nashville eyes Super Bowl stage
Nashville could soon add another major milestone to its growing sports resume.
I Know Why Desperate Trump Is in Free Fall: Political Guru
“He is in bad shape,” political analyst David Rothkopf said of Trump, after the president was dealt yet another political blow.
The parking meter deal Chicagoans love to hate is poised for another sale
The City Council is likely to push for better terms in the concession contract under a new owner.
The aluminum iPhone 17 Pro dents easily, so Apple has another replacement in mind
Aluminum didn't really work out for the iPhone 17, so Apple is heading back to the drawing board.
Scientists claim our dreams are real in another dimension
You know those dreams that feel way too real? The ones with full storylines, familiar places, recurring people like you didn’t imagine them but went there.
Bleacher Report's Kristopher Knox predicts another rough Browns season
Despite a remade offense one analyst believes not much will change for Cleveland in 2026.
Kentucky football is predicted to get a big recruiting win
The Kentucky Wildcats are poised to add another top 2027 talent, gaining a prediction for a four-star cornerback.
New TV shows to watch this week: Tune in to 'Dutton Ranch' on the Paramount Network, stream 'The Other Bennet Sister' on BritBox and catch 'Mr. Bigstuff' on Hulu
"Yellowstone" gets another spinoff — and "Pride and Prejudice" fans are in for a treat.
More to come from Ireland after beating Scots
The 2026 Women's Six Nations has felt like another significant step forward for a young but talented Ireland side.
Those GTA 6 Preorder Rumors Appear To Be Another False Alarm
Reports stemming from alleged emails from Best Buy pointed to a Monday start for preorders.
Trump’s vendettas deliver, but at what cost to the GOP?
President Donald Trump is lining up new targets after felling yet another Republican critic in a retribution campaign that he finds deeply satisfying but that comes with widening political risks for his party.
Trump targets political rivals ahead of midterms
Louisiana Senator Bill Cassidy, who’s been at odds with Trump, lost his primary this weekend. It comes as the president is targeting other political foes ahead of midterms, with another primary fight set for this week. NBC’s Julie Tsirkin reports.
Spencer Arrighetti Dominates Again as Astros Shut Out Rangers
Another win for Spencer Arrighetti on Friday night at Daikin Park as the Astros continue their homestand. Arrighetti has been the bright spot in the Astros' ever-so-struggling pitching staff and challenging 2026 season, and Friday night was no different. He had another outstanding performance for the Houston Astros, earning another win.
Linux 7.1-rc4 Released With Many Fixes, New Documentation For Security/AI Topics
It was another busy week in the Linux 7.1 kernel space that has culminated with the release of Linux 7.1-rc4.
New OHSAA rule could allow athletes to play at other schools
The rule would allow pubic school student athletes to play a sport at another school if their school doesn't offer it
Splitgate Developer Making Titanfall Successor Called 'Empulse'
Titanfall fans may watch another finger curl on the monkey’s paw when 1047 Games’ next project is revealed
Analysis: Brighton face nervy final day
Brighton travelled to Leeds United knowing a win would secure European football for only the second time in their 124-year history. Leeds - playing with freedom after securing another year of top-flight football - made their life extremely difficult in the first half. Veltman's shot was blocked by Jaka Bijol and a swerving effort from Gross that needed Darlow to save were the only times they threatened before Van Hecke spurned the gilt-edged chance to put them in front in the 44th minute.
Researchers built a switch 1,000 times faster than today's AI chips, and it barely generates any heat
The research, which was published in Science earlier this week, builds on another study published in Nature in January 2025. It demonstrates a new way to flip...
Arsenal in the race for Bradley Barcola, Liverpool interest cooling?
Bradley Barcola (23) could leave Paris Saint-Germain at the end of the season amid reports that the Ligue 1 champions are looking to add another forward to their squad this summer, as per a report fro...
'City keep going from strength to strength'
"Just when you count them out, they still win two domestic trophies and are challenging for the Premier League," the former England international said. Another Wembley victory for City sees Guardiola's trophy tally at the club reach a massive 20 in his 10 years at the club. Speaking on BBC One after the final whistle, former Newcastle United striker Alan Shearer said: "It might not have been a vintage performance, but Manchester City have had to work incredibly hard for it."
Scientists uncover surprising health benefits of watermelon
Studies suggest watermelon could be a hidden powerhouse for better health. Researchers found that people who eat watermelon tend to have higher-quality diets packed with more vitamins, fiber, and antioxidants — while consuming less added sugar and saturated fat. Another study showed watermelon juice may help protect blood vessel function and support heart health.
Scientists uncover surprising health benefits of watermelon
Studies suggest watermelon could be a hidden powerhouse for better health. Researchers found that people who eat watermelon tend to have higher-quality diets packed with more vitamins, fiber, and antioxidants — while consuming less added sugar and saturated fat. Another study showed watermelon juice may help protect blood vessel function and support heart health.
'Hearts will be back' - fans defiant after title agony
Hearts fans, we asked for your opinions after the devastating 3-1 loss to Celtic that meant the league title stayed in Glasgow for another year. Celtic's title celebrations briefly cover the cracks unveiled by Hearts - that the Old Firm's dominance is over. Finished the game with too many defensive players which meant we couldn't react to going behind.
Another IRS COVID refund deadline nears. This time for businesses.
Businesses may be owed COVID-era employee retention credit refunds, but a strict two-year deadline is approaching. What businesses need to do.
49ers News: Another Sunday without NFL football
Your daily San Francisco 49ers news for Sunday, May 17th, 2026
Why aren't brain transplants possible?
Lining up donor and recipient nerves for a potential brain transplant is one thing. Getting them to communicate is another.
Is another government shutdown looming? Here’s how GOP leaders want to avoid it.
Sen. John Kennedy has advanced a bill requiring senators’ pay be halted if they can’t agree to keep government funded.
Sooo ... About Last Night
Last night (Sat., May 16, 2026), Netflix hosted its first-ever MMA event, the MVP MMA 1 card from Intuit Dome in Inglewood, California. It was great to have another player in the MMA scene! MVP MMA’s inaugural event brought an exciting mix of legendary names from years past as well as some truly excellent up-and-coming […]
Justin Wrobleski shines in Dodgers' blowout win over Angels
Powered by another statement outing from Justin Wrobleski and a relentless offense, the Dodgers buried the Angels in a 15-2 rout at Angel Stadium on Saturday.
Keyshawn Davis wins in Norfolk, then sets his sights higher
Keyshawn Davis is 15-0, he dominated Nahir Albright, and before he left the ring he called out Oscar Duarte and Devin Haney. The redemption arc is moving forward. Whether the weight issues are behind him is another question.
Aaron Rodgers returns: Quarterback reportedly reunites with Mike McCarthy, Steelers for 22nd season in NFL
Rodgers is set to return to Pittsburgh for another season.
Aaron Rodgers returning to Steelers for 2026 season
Aaron Rodgers is returning to the Pittsburgh Steelers for the 2026 season, league sources confirmed to The Athletic, giving the franchise another year with the future Hall of Fame quarterback under center. After months of uncertainty surrounding his future and speculation about retirement, Rodgers and Pittsburgh are set to run it back following a season that delivered both stability and flashes of vintage production. Rodgers arrived in Pittsburgh in 2025 on a one-year deal after a lengthy free-agency process and quickly became a central figure in the Steelers’ offense.
Rockets 2025-2026 season in review: Steven Adams
Another season in the books for Aquaman!
USA TODAY Sports Super 25 girls flag football rankings entering mid-May
After another week of play, who are the best flag football teams in the country?
Live Coverage: SpaceX makes another attempt to launch space station cargo mission
Liftoff of the resupply mission, atop a Falcon 9 rocket from Space Launch Complex 40 at Cape Canaveral Space Force Station is scheduled for 6:05 p.m. EDT (2205 UTC). The Cargo Dragon is loaded with 6,500 pounds of science and supplies for the space station.
Building Companies at the Edge of Science and Market - Life Sciences Today Podcast Episode 61
We're excited to be back for another episode of the Life Sciences Today Podcast by Healthcare IT Today. My guest today is Jennifer Ernst, Co-Founder and CEO at
Another ‘Crimson Desert’ Patch Adds Even More Mounts, New Combat Moves
Pearl Abyss has unleashed yet another Crimson Desert patch, continuing its blinding pace of additions. Here's what's in this one.
The Weekly Closeout: Another entertainment exec at Gap Inc., and tariff refunds trickle in
The apparel conglomerate beefed up its "fashiontainment" roster, while retailers are getting their money back on import levies canceled by the Supreme Court.
Mayor Johnson expands alternate response effort for mental health emergencies
For now, Mayor Brandon Johnson is using $5.2 million from the final chunk of federal stimulus funding delivered to Chicago during the pandemic to check another key item off his progressive to-do list.
U.S. businesses edge toward another $25 billion tariff refund
Federal courts questioning Trump-era tariffs, raising the possibility that U.S. importers could see a second round of refunds
Crimson Desert Gets Yet Another Major Patch, Adds Blinding Flash Finisher for Unarmed Combat So You Can Live Out Your Batman Fantasies
Crimson Desert update 1.07.00 is out now. Check out the patch notes.
Chartbook 449: Voldemort on Threadneedle street. The Bank of England and the "haunted house" of English politics.
Imagine the scene: In some Harry Potter version of 21st-century London, a group of deathless UK Treasury officials gathered from across the last century huddle over warm pints and glasses of Chardonnay. Around the table there are officials from the 1920s, the 1930s, the 1970s, 2022 and today. Inevitably, in May 2026, the subject of conversation is the disintegration of the current Labour government. Despite its huge majority in parliament, it has been reduced to tatters by catastrophic local election result. These exposed the fact that rather than having a government with a clear popular majority, the UK is like most other modern societies divided into 5 segments each of which commands between 26 and 16 percent of the vote. Perhaps unsurprisingly, the leadership at Nos 10 and 11 Downing Street - where the Prime Minister and the Chancellor (Treasury Secretary) work - seem paralyzed. They are caught between mounting discontent over unfairness and the cost of living, and tough fiscal strictures that push them into making unpopular spending decisions. In the London pub, the Treasury officials from across the ages, can barely hide their satisfaction at the latest display of democratic politics caught in the vice-grip of financial logic. “Remember the mur d’argent and the banker’s ramp?” “Just like yesterday!” There are smirks around the table. Then the representative of 2026 pipes up: “One thing you have to say about the current lot (referring to the latest hapless Labour government), you don’t have to teach them about the bond market!” There is a murmur of ascent from the Treasury Mandarins. The trauma of the fiscal crisis of September-October 2022 sits deep. Back then, in the final stages of Tory decay, a ‘mini budget’ that challenged fiscal orthodoxy led to a brief but fierce panic in one of the oldest government bond markets in the world (aka gilt market). Now all you have to do is to mention the “bond market” to hush debate. [ Paul Mason@paulmasonnews In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/ 3:57 PM · May 12, 2026 · 466K Views 224 Replies · 674 Reposts · 3.93K Likes ](https://x.com/paulmasonnews/status/2054229532404519082?s=20) “And the funny thing is”, the young man in the huddle continues, “they don’t even want to talk about … ”. There is a sudden hush. Significant looks are exchanged around the table. About? One of the senior figures puts down his glass with a decisive “clink”. He-Who-Must-Not-Be-Named has entered their thoughts. Meanwhile, a few miles away in a grubby pub in Bloomsbury, two conspirators from the camp of Critical Macrofinance huddle over cans of low-alcohol IPA. They look at each other and blurt out loud: “The Bank!” “Everyone in the bloody Labour party is talking about the bond market. But why aren’t they even mentioning … the Bank of England!?” “Why is no one talking about Voldemort?” In Paul Mason’s blogpost, after much chest-thumping about basic fiscal logic, the basic point about the Bank of England is buried in the fine print at #3 in his list of suggestions as to what a radical Labour government might actually be able to do! [ Conflict & Democracy Down with the bond market! Down with gravity! It may seem unfair to focus on Labour MP Paula Barker for her off-the-cuff assertion that the bond market would have to “fall in line” with Andy Burnham, should he replace Keir Starmer as prime minister. But Burnham himself told the New Statesman that Labour had to “get beyond this thing of being in hock to the bond markets… Read more 2 days ago · 100 likes · 3 comments · Paul Mason ](https://htsf.substack.com/p/down-with-the-bond-market-down-with?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Back in Bloomsbury they shake their heads and ask: “Didn’t we learn anything from the Eurozone crisis?” Meanwhile, as if summoned to the conversation by some higher force, the “pink pages” announce: “The days of ultra-cheap government borrowing have come to an end” and Martin “Whizzard” Wolf publishes the graph of the season Look at the UK in 2026, perilously positioned on the upper edge of the pack. No wonder no one in London needs any lessons about the “bond market”. But, look again. Imagine how they feel in Rome. What is London’s nightmare in 2026? The nightmare is that you end up like Italy in the early 2010s during the Eurozone crisis. Once comfortably situated in the middle of the pack, watching with horror as your ten-year yields explode to 7 percent and “spreads” become a national nightmare. One of the largest economies in Europe, a founding member of the euro, stigmatized. But the message of the Italian experience is ambiguous. After all, the stigma didn’t last. In 2026, Italy borrows at rates lower not only than the UK but the US. The US, which, as everyone knows, enjoys the “exorbitant privilege” of being the issuer of reserve, safe asets. What kind of magic is this? How did Italy, in the space of fifteen years, go from being good, to bad and back again? Which brings us back to our dissident friends in their Bloombury boozer and their memories of the Eurozone crisis. Italy never was Britain - with its ongoing fiscal deficits. Without interest payments, on primary balance, from 2000 to 2020 Italy ran a tight fiscal ship. Even in 2008 it barely went into deficit and when it was being put on the rack in the early 20210s its primary surplus matched that of austere Germany. So, what happened? How did it end up stigmatized? Of course Italian politics didn’t help. Berlusconi was at the helm and he had legal issues. But amongst friends in the Bloomsbury pub, Berlusconi is a sideshow, the name we whisper to each other is “Trichet”. From 2004 to 2011 the ECB was headed by Jean-Claude Trichet, ex of the French Treasury, more German than the Germans. After 2009 as the news of the Greek fiscal disaster broke, the European bond markets wento into panic mode and Trichet began a brutal game of cat and mouse. Between 2009 and 2011, Trichet intervened in the bond market to help, only when he thought he had compliance with austerity. When he thought they were uncooperative, he withdrew. In the summer of 2011, he even made direct suggestions to his Italian counterparts in Rome, as to how Italy should be governed. It was this cat and mouse game that drove the bond markets crazy and exposed Italy to a violent squeeze. When Mario Draghi took over the ECB at the end of 2011 and declared “whatever it takes”, the pressure on Italy, gradually eased. It is that starring role that has made Draghi into the towering figure in European politics that he remains today. So now you see why voices in London hush when it comes to the Bank of England. “The bond market” isn’t an irresistible objective force like the weather or an avalanche. It can appear like that. But that depends on the way it is being handled, or not handled by the central bank. Which is why the silence about the Bank of England in London right now is so significant. If you think this all sounds a bit fishy, coming from a left-liberal Keynesian like myself, well, let me introduce you to Robin Brooks, who, to put it mildly, plays on a different quidditch team to me. Here, from the position of a fiscal hawk is Robin’s celebratory account of the Bank of England’s role since 2022; In October 2022, at the height of the bond market blow-up in the UK, something incredible happened. Governor Andrew Bailey told British pension funds the Bank of England would end its support program for the country’s fragile gilt market, drawing a line under how much help the central bank was willing to give to exposed pension funds and - implicitly - the government. By the end of that week, Kwasi Kwarteng - the finance minister - had resigned. Prime Minister Liz Truss would soon follow. This episode is so incredible because it contrasts with what happened in the Euro zone earlier that year. Bond markets in Spain and Italy were under pressure amid high inflation and rising interest rates. In the middle of this, Mario Draghi - Italy’s Prime Minister - resigned, compounding pressure on bond markets of high-debt countries on the Euro periphery. Unlike the Bank of England, the ECB caved. It bought Italian and Spanish government bonds in an effort to cap yields and introduced a new tool that signaled to markets it might do such caps more frequently going forward. Faced with pressure on bond markets, the ECB capitulated to political pressure from high-debt countries like Italy and Spain. The Bank of England stood its ground and toppled the Truss government. This kind of thing has long-lasting consequences. It means markets price a higher probability of yield caps in the Euro zone, which keeps Italian and Spanish yields artificially low, while markets feel free to push up UK yields without fear of central bank intervention. As I flagged in yesterday’s post, this means you really can’t compare UK yields to those of other high-debt countries. The UK looks worse, but only because its central bank isn’t interfering with markets. There’s more to this than just that 2022 episode. The Bank of England has also been much more aggressive in its quantitative tightening (QT) than other central banks. If one motivation for quantitative easing (QE) is to lower bond yields - especially longer-dated ones - then it stands to reason QT pushes yields up. The left chart above shows a four-quarter moving average of UK government debt issuance (black line) in percent of GDP and which sectors absorb this issuance, including the Bank of England (blue bars). The right chart above compares the Bank of England’s accumulation or run-off of government bonds (blue line) with that of other central banks, where this blue line is the same as the blue bars in the left chart. The Bank of England was quicker and more aggressive than other central banks in downsizing its bond holdings, so UK yields will have risen more than elsewhere also for this reason, not just because of Governor Andrew Bailey’s remarks in October 2022. Back in October 2025, after a conversation in New York with friends in British politics, my sense of dysphoria was such that I raised the issue of the Bank of England openly in the FT Since 2008, the UK has slid into a deep economic and political predicament. Growth has stagnated to a degree far worse even than in the 1970s. The Tory leadership’s wager on the Brexit referendum spectacularly backfired, leaving the UK isolated from Europe and at the mercy of its special relationship with the US, many of whose political class regard the UK as a basket case. After years of austerity, the Labour party lurched to the left and then back to the centre. The Tory party has been eclipsed by the populist nationalism of Reform. Any British government should be worrying first and foremost about how to restart growth. Instead, Keir Starmer is beset by shades of the gilt market panic triggered by the Liz Truss government in 2022. The debt level is higher than in recent years, but there is no cause for panic. UK debt is at far from critical levels and of long duration. Whether you want to “take back control” or launch progressive economic policy, a democracy dogged by fear of bond market vigilantes is unhealthy. In a country that is a monetary sovereign, this climate points to one thing: a disconnect between the government and the central bank. Since 1997, the independence of the Bank of England has become a sacred cow. But independence is what you make of it. And in the wake of the gilt market crisis of September 2022, relations between the Bank of England and the UK government need a reset. In normal times, there is no doubt that an inflation-targeting independent central bank can serve a country well. But since 2008, the UK and other advanced economies have not had the luxury of such simple problems. To their credit, central bankers around the world have not stood on orthodoxy. After 2008, the US Federal Reserve rescued the global banking system and, through quantitative easing, it stabilised the Treasury market in the face of huge deficits. In Europe, things were trickier. Both the Bank of England under Mervyn King and Jean-Claude Trichet’s European Central Bank played cat and mouse with national governments. This was a high stakes wager that between 2010 and 2012 escalated bond market tension and triggered a disastrous turn to austerity. Shaken by the impact of those shocks, their successors, Mark Carney and Mario Draghi adopted a more protective stance (assuming you were not the government of Greece). Recall that Draghi’s legendary slogan, “Whatever it takes”, was uttered to face down the City of London’s bond vigilantes. In 2015, Draghi launched QE — financial repression by another name. In 2016, Carney used the authority of the Bank of England to stabilise markets following the vote for Brexit, an exemplary demonstration of how central banks can underpin democratic choice, even when those choices are wrong headed. All these were independent central bankers steeped in the best practice of the 1990s, who recognised that historic crises demanded radical action. It was the price surge of 2021-2023 that poisoned the atmosphere. Though the shock came mainly from the supply side, central banks ended up in the dock. Nowhere more so than in the UK. The Bank of England reacted with aggressive normalisation. Faced with a cost of living crisis, the governor called for workers to accept real wage cuts. In early 2022, as gas prices were at record levels and Russia’s army was poised to invade Ukraine, the Bank adopted a stringent programme of quantitative tightening, elevating interest rates. When the Truss government got itself in trouble, the Bank took almost a week to come to the rescue. Rather than enacting a charade of normality, it is time to recognise that in 2025 the UK faces a period of historic transition. To meet this challenge, what is needed is a new concordat with the Bank. This should not ignore inflationary pressures or the long-run trajectory of debt, but should affirm the priority of reviving investment-led growth. One could follow Donald Trump in demanding interest rate cuts. The Bank could shadow the ECB in its commitment to capping Eurozone yields. But the top priority should be to lay the ghost of September 2022. The Bank’s slowing of QT last month was a concession. An immediate and complete end would send the right signal. Such a concordat will not by itself restore sanity to politics, solve the housing problem or rebuild the NHS. But it would help to lift the fear of bond market crisis, which is paralysing the effort by democratic politicians to answer the fundamental questions facing the nation. Now, that call for a new concordat between government and Bank of Englands seems more urgent than ever. The problem is that in October 2025, Starmer still had some authority. Today the government is in tatters. And when you are the “under the harrow” - to echo a phrase of Montagu Norman’s from the 1920s - it is the worst possible time to consider institutional change. To make general arguments at a time of crisis can only seem like special pleading rather than a general argument for long-term change. The same, unfortunately, is also true for the other basic institutional reform that Britain urgently needs i.e. the abolition of the out-dated first past the post electoral system and its replacement by a moderated form of proportional representation. And thirdly - whilst we are saying the quiet parts out loud - Britain needs to reopen the question of EU membership. What the local election results of 2026 show is that this remains a key issue. And what they also show is that there is a clear majority that would favor a return. Until these basic features of Britain’s political economy are addressed the country will carry on its politics as though in a haunted house, governed by governments that lack actual majorities, conjuring up false constraints whilst ignoring the real ones. This one is for DG and MI. I love writing the newsletter. If you enjoy it too and fancy buying me a coffee once a month, you know what to do. Click below! Subscribe
When an airline goes out of business
I had no experience with how to handle such things, so when the ticket agent told me to move off to the side and wait for them to find another
‘There’s science happening all around us’
MARSHALL — As another school year approaching the end, more than 900 area students and participants went on a field trip and made memories at the 2026 Science and Nature Conference on Tuesday at Southwest Minnesota State University, hosted by the Southwest West Central Service Cooperative (SWWC). This was the SWWC’s 32nd annual Science and […]
Samsung’s RAM Shortage Struggles Claims Another Victim As Exynos 2700 To Witness One Trade-Off, Despite Being The Most Advanced 2nm SoC
Samsung is expected to use its most advanced 2nm process for the Exynos 2700, but that won’t keep the latter safe from cost cutting
France 2026 World Cup Roster: Real Madrid's Eduardo Camavinga Among Notable Omissions
France named its World Cup squad, with surprise goalkeeper call-up Robin RIsser highlighting Didier Deschamps' final tournament roster as France aims for another title.
Claude For Small Business Shows Where White-Collar AI Is Heading
Claude for Small Business is another sign that the AI market is moving toward AI and agents embedded in systems focused on serving the needs of daily work.
Spring Sports: Another Marra excelling on the draw for Pinkerton
Melayna Marra decided that the draw was hers.
Royal Oak Taco Fest returns for another 4th of July weekend full of food and entertainment
Royal Oak Taco Fest returns this Fourth of July weekend with added activities in celebration of America's 250th anniversary.
Google may finally let you move passkeys to another password manager on Android
Google could soon end the passkey lock-in for its Password Manager's users.
Sports Daily Live: What’s behind Royals recent struggles after resurgence?
he Royals drop another one after shaky starting pitching. Jaylon Thompson joins to discuss.
Atlanta Braves first team to reach 30 wins this season
The Braves improved MLB’s top record to 30-13 with another thrilling win Wednesday night, scoring three runs in the eighth inning to beat the Chicago Cubs 4-1.
'Remarkable Bright Creatures' doesn't aim high, but lands perfectly
Last week we had talking sheep, this week it’s an octopus. Based on the best-selling book of the same name, “Remarkably Bright Creatures” is another example of live action family
How Did Dave Roberts React to Another Dodgers Loss?
The Los Angeles Dodgers have yet to find a way back into the win column.
Instagram hits the copy button again with new disappearing Instants photos
Another new way to encourage you to post.
R.I. Governor McKee’s charter school conundrum
McKee turned heads when he said he’d be open to imposing a moratorium on new charter schools, but after taking another look at the bill, McKee isn’t quite ready to commit to signing it if it makes it to his desk.
Variety's 2026 Women of Nashville Entertainment Impact Report
Variety celebrates another 25 of the top female executives and managers in Nashville for the second annual Women of Nashville Entertainment Report
New poll shows major shift in California governor’s race
(Inside California Politics) — New polling shows yet another new frontrunner in the tumultuous California governor’s race. The contest to succeed two-term Democratic Gov. Gavin Newsom was thr…
House Republican misses another week of votes as health absence strains thin majority
Rep. Tom Kean Jr. will remain absent from Congress for over two months due to an unspecified health issue, with his office saying he will return to a full schedule soon.
Trump’s China policy is nearly the exact opposite of what everyone expected
As Trump heads to China, attention and resources are being shifted from Asia to yet another war in the Middle East.
Tanninger Entertainment's latest production earns eight Tony nominations
NEW YORK — Tanninger Entertainment notches another win as its latest production secures eight Tony nominations.
76ers part ways with Daryl Morey after another disappointing season, head coach Nick Nurse to remain with Philadelphia
2027 Summer Scouting: Peter Clarke, TE, Temple
Another Summer scouting report is ready, this time on Temple's Peter Clarke.
In approving Alabama gerrymander, the Roberts Court shows its naked political bias
The justices tossed precedents to allow Republicans to dismantle yet another majority-Black district.
Trump is getting another medical checkup at the end of May, the White House says
It will be his fourth publicized visit to medical experts since returning to office.
Rep. Alexandria Ocasio-Cortez says Democrats shouldn’t trust Marjorie Taylor Greene
The position puts her at odds with some on the left, such as Rep. Ro Khanna, another potential 2028 contender, who said he wants to find “common ground” with people like Greene.