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Annual 'Kids Carnival' Returns to Meridian Health Pediatrics and Prime-Time Urgent Care on June 18
By Hannah Dunckel— MUNCIE, IN – Meridian Health Pediatrics and Prime-Time Urgent Care will host the second annual Kids Carnival on Thursday, June 18 from 4 to 6 p.m. at the clinic located at 205 N. Tillotson Avenue in Muncie. The community is invited to enjoy a fun and interactive community resou
Buttonwood Nature Center offers Splash & Science summer camp for kids
Kids ages 7–12 can explore streams, study aquatic life, and enjoy hands-on crafts at Buttonwood Nature Center’s Splash & Science summer day camps.
World Ocean Day Celebration at Seacoast Science Center
For Seacoast Science Center, this year marks a remarkable 35 years of providing outstanding coastal and ocean education at Odiorne Point State Park along the New Hampshire seacoast! World Ocean Day, a global celebration that honors our one shared ocean, presents the perfect opportunity for us to invite our community to come together and celebrate the ocean that connects us all.On June 20th, the Center will host its flagship World Ocean Day celebration from 10 AM to 2 PM. Enjoy hands-on games, educational activities, naturalist-led tide pooling sessions, music, and much more! You’ll also have the opportunity to meet local scientists, divers, artists, and conservationists who are dedicated to safeguarding our one world ocean. See the schedule and the organizations joining us on our event web page: https://www.seacoastsciencecenter.org/world-ocean-dayWe can’t wait to see you by the coast for learning, discovery, and plenty of fun, all aimed at inspiring the conservation of our Blue Planet!
Joy Crichlow: A Trailblazer in Minority Business Development Has Passed
Fern GillespieA pioneer in minority business development has died. For decades, Brooklyn resident Joy Crichlow was responsible for minority business owners achi
Accessorize with earplugs at this summer’s concerts so you can enjoy more music in the future
Wearing earplugs at concerts can help prevent hearing damage.
Bengals enjoy embarrassment of riches at QB, too
It's not just wide receiver. The Bengals have the best quarterback room in the NFL, too.
Everton full-back Hope to retire
Everton full-back Lucy Hope will retire from playing professional football this summer.The Toffees announced the news via a post on their official club website this afternoon.The 29-year-old has enjoy...
Vanderbilt Health Pets of the Day: Freddy and Cooper
Today’s first Dog of the Day is Freddy, submitted by Beth Piazza of the Vanderbilt-Ingram Cancer Center. “Freddy was adopted on Valentine’s Day of 2024 from the Nashville Humane Association. He is the cuddliest 90-pound lap dog.“ Today’s second Dog of the Day is Cooper, submitted by Brandie Taylor of Medicine. “Cooper is a 14 year old chocolate lab. He loves eating and going to get pup cups!” Freddy and Cooper were featured in the June 9, 2026, edition of MyVUMC News. To see the archived collection of Vanderbilt Health Pets of the Day, go to: https://news.vumc.org/section/voice/pets-vumc/. Pet photos wanted! The Vanderbilt Health Pets of the Day are posted to the Voice section of Vanderbilt Health News and included in regular editions of the MyVUMC News newsletter, which is published twice a week by Vanderbilt Health News and Communications. Now through July 6, we especially want to see photos of your pets enjoying spring and summer. That might be having fun at the lake or beach, hanging out in the backyard, lying on the couch, or in the case of a pet fish, just living the life aquatic (we’re not too strict about what constitutes enjoying spring and summer). If you have a pet picture you would like to send in for consideration, go to the submission form here and follow the guidelines.
Nintendo Switch 2: One Year Later
One year ago today, Nintendo released the Switch 2. The successor to the original Switch boasts a larger screen, magnetic Joy-Con controllers, a new C for “Chat” button for its social hooks, and most importantly, more powerful internal hardware. The Switch 2 is still the place to play Nintendo first-party games–and more and more of...
I moved from the UK to the US to grow my business; love the work culture
UK entrepreneur Thomas Phillips moved to Austin, Texas, to grow his business. He's enjoyed the US's entrepreneurial spirit, work culture, and tax benefits.
Belkin’s new Joy-Con grips also boost the Switch 2’s battery life
The Charging Grip sticks a 10,000mAh battery to the back of the handheld while making the Joy-Cons easier to hold.
Valverde: “I never imagined being Real Madrid’s captain”
Real Madrid midfielder Fede Valverde talked to Uruguayan TV AUF and shared some thoughts about the upcoming FIFA World Cup and also about the club. “Wearing the armband is something incredible; I never imagined being captain for Real Madrid, and I thoroughly enjoy every opportunity to wear the armband. It carries some pressure too. When […]
Nintendo Confirms New Switch 2 Hardware With Replaceable Battery
Main console revision confirmed, but what about the Joy Cons?
Column: I’m Disengaging a Bit from Politics This Summer. Join Me
Columnist Tim White shares his aversion to political partisanship and recommends taking a break from politics to enjoy the summertime.
A Celebration Worth a Thousand Words 🇮🇹📸 No. 7 in Best FIFA World Cup™ Moments
At the 1982 FIFA World Cup Final, Marco Tardelli scored a crucial goal for Italy against West Germany before unleashing one of the most iconic celebrations in sports history. His emotional sprint and unforgettable scream captured the joy, pressure, and passion of winning a World Cup.
Genoa pushing for El Shaarawy’s return
Stephan El Shaarawy is waiting to find out his future. After a long stint with the Giallorossi, the 1992-born player is enjoying his holidays after finishing his spell in the capital on a high note wi...
Everton leading the race to sign Middlesbrough’s Hayden Hackney
Everton have emerged as frontrunners to sign Middlesbrough midfielder Hayden Hackney. The 23-year-old deep-lying playmaker enjoyed a superb 2025–26 campaign, scoring five goals and providing eight a...
Off-Day OpenThread
The Jays and we get a day off. As much as I enjoy baseball, I don’t mind days off. We are using the evening to see a National Geographic lecture. Yes, I’m that old. So we have time for an OpenThread. Use it to chat about anything you like, within site rules. It doesn’t have […]
Ghost in the Machine review – entertaining AI polemic dives into its dark history in race politics and eugenics
The roots of AI in rightwing ideology is examined in Valerie Veatch’s enjoyable doc, including an array of colourful, often crazed, figures
How to find free, low-cost concerts this summer in Louisville: A Q&A
With rising costs, find out how to enjoy free and low-cost live music this summer in Louisville and Southern Indiana.
Michigan coach Kyle Whittingham takes wild IndyCar ride
Michigan coach Kyle Whittingham enjoyed a high speed ride at the Detroit Grand Prix despite some rivalry ribbing.
I reinvented myself by losing 300 pounds and moving to Spain
Erin Vlack moved to Spain in mid-life after losing 300 pounds. She wanted to quit the rat race to enjoy time with her son. She has never been happier.
Raiders TE Brock Bowers enjoys his new nickname
Las Vegas Raiders TE Brock Bowers got a cool nickname and he finds it pretty funny himself
🥐Joy, chaos, tension, emotion... Sunday's 5️⃣ stories
From PSG’s joy to chaos in Paris during the celebrations, along with major moves in the transfer market.Luis Enrique and a legendary PSGThe French side won their second consecutive Champions League ...
Before Turning A Hobby Into A Business, Ask Yourself These 4 Questions
A hobby can become a side hustle, but monetizing it may turn private joy into another obligation. Here’s how to know what to protect.
Most new moms get the baby blues. But it could be something more serious: postpartum depression
Postpartum depression is a potentially dangerous condition that can fill a typically joyous time with despair
Most new moms get the baby blues. But it could be something more serious: postpartum depression
Postpartum depression is a potentially dangerous condition that can fill a typically joyous time with despair.
SouthCoast women in business forum set for June
SouthCoast women in business can connect and learn at the upcoming Spark forum featuring AG Andrea Joy Campbell.
Castleton moving sports to MASCAC
CASTLETON, Vt. (WCAX) - After nine years in the Little East, Castleton is moving the majority of its athletic programs to the Massachusetts State Collegiate Athletic Conference. 20 of the 26 Spartans sports programs will move ahead of the 2027-28 school year. Castleton previously played one football season in the MASCAC before joining the New Jersey Athletic Conference ahead of the 2025 season. The MASCAC currently includes seven state universities from Massachusetts. Castleton replaces the one private member, Anna Maria College, as it shut down permanently at the end of this school year. There are a few hurdles Castleton will have to figure out: while four of the six sports not joining the MASCAC don’t participate in a traditional collegiate conference, the tennis programs will likely need to find affiliate memberships to build schedules. And Castleton will have to schedule rival Norwich as part of its nonconference hockey slate...but athletic director Tim Barrett says it’s the right move for the Spartans, especially when it comes to football. “We’ve had ongoing conversations for the last couple of years regarding the possibilities within the MASCAC,” Barrett said. “Obviously, we had the one year relationship for football in the MASCAC, we enjoyed our time there, we felt at that point we were a natural fit for that conference. So we’re looking forward to it, we’re also looking forward to the next seasons within the Little East Conference, but I do think this was the right move at the right time.”
The Pepperdine College of Health Science Unveils Newly Dedicated Joyce Plueger Health Assessment Laboratory
To honor the Plueger family’s contribution, the College of Health Science hosted a dedication ceremony held on the college’s Calabasas campus on May 29, 2026.
The Pepperdine College of Health Science Unveils Newly Dedicated Joyce Plueger Health Assessment Laboratory
To honor the Plueger family’s contribution, the College of Health Science hosted a dedication ceremony held on the college’s Calabasas campus on May 29, 2026.
Physical Media Is Making a Comeback. The Next Console Generation Might Kill It
Consoles with disc drives are the easiest way to enjoy all kinds of physical media, but that could end with the next-gen PlayStation 6 and Microsoft's Project Helix.
The PSG paradox: Football’s most beautiful team are also the sport’s most successful state project
Watching the reigning European champions can be such a joy but it is hard to separate the football from the club's ownership
Elite edge rusher puts Georgia football in his top-5
The Georgia Bulldogs are among the top five schools for in-state edge rusher Olayiwola Taiwo, who plays for Lovejoy High School
Gold Country Kiwanis and Nevada County OES to host safety carnival
Families are invited to enjoy our 21st Annual Health/Safety & Fire Preparedness Carnival on Saturday, June 6, from 11 a.m. to 4 p.m. at 950 Maidu Ave, the Rood Center
Red snapper fish fight highlights Florida governor’s disdain for science
One of the great joys of living in Florida is our access to fresh seafood — shrimp, scallops, grouper, you name it. I grilled some on Memorial Day and it was delicious! The source of all this bounty, the sea, may look like a limitless expanse, but it’s not. We have to be careful about […]
How a company turned visas to Europe into big business
VFS Global enjoys a near monopoly on outsourced visa processing, including for travel to most European countries.
Special taxing district buzz: Cut property taxes, but not mosquito control
'Without air conditioning and mosquito control, Florida would not have experienced the extraordinary growth and quality of life residents and visitors enjoy today.'
Hamsters run on wheels for a surprisingly joyful reason
Even wild animals enjoy a good wheel.
Summer Movie Series brings family entertainment to Lima Amphitheater
Families in Lima will have the chance to enjoy free outdoor movies this summer during the Park After Dark Movie Nights series at the Greater Lima Region Amphitheater. Organizers say
Here’s the 2026 South Shore Farmers Market entertainment lineup
Enjoy free, family-friendly performances at the Bay View park every Saturday from June 6 through September 26.
Yerba mate has lots of health benefits but Chinese may be drinking it wrong
Ancient South American fusion may reduce risks of Parkinson’s and is enjoyed by top footballers, but the indigenous drink should be shared.
Licensable picture: In this Feb. 24, 2004 photograph, Abilene Reporter-News entertainment writer Brien Murphy and KTXS sportscaster George Levesque
In this Feb. 24, 2004 photograph, Abilene Reporter-News entertainment writer Brien Murphy and KTXS sportscaster George Levesque discuss what they enjoyed and...
Creative compassion: Scatter Joy Project Founder Zach Thompson brings mental health advocacy to his hometown
Class of 2008 Marshalltown High School (MHS) graduate Zach Thompson, who went on to play baseball at Marshalltown Community College (MCC) before relocating to his current home state of Ohio, started the Scatter Joy Project in Columbus as part of an effort to destigmatize conversations around mental health and highlight the intersection between mental health […]
‘We’re all better because we knew him:’ WALB Sports team remembers TCC graduate, athlete killed in crash
"In honoring Deontavis, let us remember him for his extraordinary spirit, his kindness, and the joy he brought to those around him. "
Allegheny County residents warned of increased risk for ticks and Lyme disease
As Allegheny County residents step outside to enjoy spring, local health experts are warning about the dangers of Lyme disease after an unusually high number of tick bites reported across the country. In April, the Centers for Disease Control and Prevention issued an early advisory urging the public to guard
Azzi Fudd’s third-quarter takeover lifts the Wings past the Liberty
Fudd always enjoyed playing at Barclays Center when she was in college at UConn, so it was no surprise that she had the best game of her young pro career there.
The Witcher 3 is a good game, but that doesn't mean you have to like it
Consensus and genre labels aren't reliable predictors of what you'll enjoy.
Dos Pueblos' Mattias Di Maggio enjoys one of the best freshman years
Dos Pueblos outfielder Mattias Di Maggio finished his freshman season with one strikeout in 84 at-bats and set a school record with 11 home runs.
Semiconductor decoupling. Powell's politics. Industrializing Ogaden. Free trade and the Magna Carta.
Thank you for opening your Chartbook email. Feliks Topolski, 1907-1989 8th Army’s Front, Italy 1944 Semiconductor decoupling Source: FT One thing that Jerome Powell deeply understood is that chairing the Fed under current conditions is a deeply political job. “Powell has successes and mistakes to his name. But he stands out as having thought more carefully about the Fed’s democratic legitimacy than any chair since Paul Volcker,” said Paul Tucker, a former deputy governor at the Bank of England, referring to the Fed chair who successfully fought the great inflation of the 1970s and early 1980s. … While Powell was at the Treasury in the early 1990s, he watched Alan Greenspan build relationships within the government. That convinced Powell he needed to follow the former Fed chair’s lead and spend more time in Congress than his predecessors Yellen and Bernanke. “The accountability for the Fed runs through Congress,” said Claudia Sahm, a former Fed official who is now chief economist at New Century Advisors. “That’s not just about having people on speed dial — it’s answering questions, explaining policy and getting feedback.” Source: FT Ethiopia’s PM Abiy and Nigerian business tycoon, with Chinese engineering, are driving industrialization in Ogaden/Somali region of Ethiopia. - Michael Masri’s reporting for Africa Report if fascinating. Ethiopia has launched a cluster of large industrial schemes in the Somali region, laying foundation stones for a urea plant and an oil refinery in Gode while opening the first two phases of the Ogaden LNG project. Abiy Ahmed framed the push as part of a broader strategy to link energy, agriculture and industry. “These projects embody more than industrial growth,” he said. “They represent our shared responsibility to harness opportunities, strengthen co-operation and promote peace.” The Gode urea plant, backed by Dangote Group and Ethiopian Investment Holdings (EIH), is designed for 3m tonnes a year. Dangote owns 60%, while EIH holds 40%. Officials say Dangote’s equity totals about $2.5bn, while the state provides land and implementation oversight. Gas from the Calub fields will be piped 108km to the site. Construction is slated for 40 months, with operations targeted for 2028. Ethiopia imports most of its fertiliser, spending more than $1.2bn a year for 1.5m–2m tonnes. Usage was roughly 1.7m tonnes in 2023, almost half of it urea, and demand for 2024–25 is put above 2.4m tonnes. If delivered on time, the Gode plant could cover domestic needs and allow exports to neighbours. Brook Taye, chief executive of EIH, called the venture “a significant milestone in the journey toward industrial self-sufficiency”. Dangote told the groundbreaking crowd that the complex would be integrated with gas supply and a polypropylene unit to support local inputs. He pointed to Ethiopia’s Grand Ethiopian Renaissance Dam (GERD), with a capacity of more than 5,000MW, and noted his group’s cement operations and expansion plans. The Gode refinery is being developed by Golden Concord Group of China. It is designed to process 3.5m tonnes a year of crude and condensate from the Hilala field, with associated storage. Backers say it will ease foreign-exchange pressure from fuel imports and anchor further industrial activity, including a proposed steel smelting site in Dire Dawa. GCL’s chair, Zhu Gongshan, cast the project as “a key step in Ethiopia’s path to energy sovereignty”, underscoring the Beijing–Addis ties. Financing details are still being finalised, but the refinery is central to the government’s energy-security narrative. Source: The Africa Report Dangote’s Ethiopian vision: Dangote began with cement. His crown jewel, Dangote Cement, dominates Nigeria’s market and has 10 operations in other nations in Africa. The formula has been consistent: identify sectors with chronic shortages – cement, fertiliser, sugar – commit massive local investments, and scale up to serve regional demand. Ethiopia was a natural extension of that model. In 2015, Dangote launched the Mugher Cement Plant outside Addis Ababa at a cost of $600m, with an annual capacity of 2.5 million tonnes. The investment gave him a firm foothold in one of Africa’s fastest-growing construction markets. But success came with risks. In May 2018, violent unrest led to the killing of Dangote’s country manager and temporary shutdowns at Mugher. While other investors might have retreated, Dangote doubled down. Today, he is preparing to spend $400m to expand Mugher’s capacity to 5 million tonnes, alongside a new grinding unit near Addis Ababa. Cement is just one market Dangote is targeting. Ethiopia’s enormous state-controlled sugar industry, long plagued by inefficiency and debt, has struggled for years to reform. Its Omo Kuraz Sugar Development Project, touted as one of the continent’s largest initiatives, continues to face delays and mismanagement. … The most ambitious venture of all is the planned fertiliser production complex in Gode, Somali region. Publicised on 28 August 2025, the Dangote Group and Ethiopian Investment Holdings (EIH) deal plans one of the world’s largest single-site urea manufacturing plants. The project costs an estimated $2.5bn and has an estimated capacity of 3 million metric tonnes annually, a rate that would not only render Ethiopia independent, but even a net exporter of fertiliser. EIH, the state wealth fund of Ethiopia, will hold 40%, while 60% is held by Dangote Group. … For Dangote, Ethiopia is a trifecta: Cement demand is projected to grow by 10% annually, its sugar consumption is growing with rapid urbanisation, and fertiliser demand is all but insatiable, given that farming supports the livelihood of 70% of Ethiopians. Source: The Africa Report The stakes for Abiy are high: For Addis Ababa, the $4bn fertiliser project in Ethiopia’s Somali region is no longer simply a manufacturing investment. It is increasingly being framed as a strategic state project tied to food sovereignty, import substitution and the government’s broader attempt to build economic resilience under mounting fiscal pressure. “Becoming self-sufficient in food is our main agenda,” Abiy says during the visit. “Land is needed; we have it. Water is needed; we have it. Human resources are needed; we have it.” The scale is enormous even by African industrial standards. Once operational, the plant is expected to produce three million metric tonnes of urea annually, potentially making it one of the continent’s largest fertiliser complexes. Ethiopian officials say the project now includes a 110km gas pipeline, a 120MW power plant, a polypropylene packaging facility and a two-million-tonne NPK blending plant. For a government grappling with chronic foreign exchange shortages, ballooning import bills and pressure on agricultural productivity, the numbers matter politically as much as they do economically. The decision to anchor the project in Gode is deliberate. Long viewed as peripheral to Ethiopia’s industrial economy, the Somali region is now being repositioned by the federal government as a future irrigation and agro-industrial corridor. Officials argue that the area’s vast land reserves and access to water could eventually support large-scale commercial farming capable of reshaping Ethiopia’s food economy. The government is simultaneously building housing infrastructure for about 5,000 residents near the plant, while officials project broader industrial expansion along the corridor. Abiy goes further, comparing the long-term revenue potential of the Gode development zone with Ethiopia’s flagship state enterprise. “The investments we are making in this Gode area, combined, will generate high revenue for Ethiopia, at par with Ethiopian Airlines,” he says. Source: The Africa Report Feliks Topolski 1907-1982 Topolski’s Chronicle, ‘Nazi Revival’, Vol. 8, Is. 1-2, 1960 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. Photo by Jakub Dziubak on Unsplash 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 Grim vision of drone warfare by Sylvie Kaufmann For contributing subscribers only. Subscribe The state of the art in Colbert-studies. Jean-Baptiste Colbert was Louis XIV chief minister from 1661 to 1683 and traditionally seen as an architect of absolutism and mercantilism. Alexander Hamilton later cited him as an inspiration in 1782. Now his legacy is disputed. Daniel Dessert, the chief critic, sees Colbert as the orchestrator not so much of an absolutist state as of an elite cabal. Would be great to have a good English-language review of this important debate. Source: lhistoire Didn’t know that the Magna Carta included free trade provisions Fighting for the right to the beach in Oregon in 1967: Source: Research Gate RAF Station – British and Polish Flags, c. 1940-45, The Ingram Collection Feliks Topolski, 1907-1989 ink and wash If you’ve scrolled this far, you know you want to click: Subscribe
What Norway’s dominance at the Winter Olympics can teach us about youth sports
The country’s focus for young people on ‘the joy of sport’ leads to much higher participation rates – and lots of Olympic gold Barry Finegold, CommonWealth Beacon EVERY CYCLE OF the Winter Olympics brings a familiar but uncomfortable storyline: The United States, with its vast population, enormous resources, and deep
Key City to host free concert featuring Blake Robert
Join us for a free community concert at Key City Park. Enjoy music, food, and fun on July 30 from 6:30 p.m. to 8:30 p.m.
Monkey business: artist chimps paint in their own style, study shows
Several studies conducted in captivity have demonstrated that chimpanzees, like other great apes, enjoy painting and drawing. But new resreach led by French and Japanese primatologists has shown that…
Monkey business: artist chimps paint in their own style, study shows
Several studies conducted in captivity have demonstrated that chimpanzees, like other great apes, enjoy painting and drawing. But new resreach led by French and Japanese primatologists has shown that…
How a man transformed his tool shed into a man cave and cigar lounge
Tyler Graham said his old tool shed was always "a disaster." He decided to transform the space into a man cave where he can enjoy whiskey and cigars.
Nottingham Forest v Bournemouth: Key stats and talking points
Bournemouth visit Nottingham Forest on Sunday knowing they are already assured of a first European adventure next season – but they need a number of results to go their way to land a place in the Champions League. It was Forest who enjoyed their own continental quest this year, with an impressive run to the Europa League semi-finals providing a welcome distraction to their domestic woes. Vitor Pereira took over from Sean Dyche in February and has steered the Tricky Trees to safety thanks in no small part to an eight-game unbeaten run that ended with a 3-2 defeat by Manchester United last week.
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
Alabama rock stars bid Colbert farewell: ‘A source of joy and light in these dark times’
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Kudos to Cheer Club, College of Business faculty, Cybersecurity team and more
Becky Cottrell, Ph.D., Department of Social Work, and Bridget Arend, Ph.D., School of Education Becky Cottrell from the Department of Social Work and Bridget Arend, Ph.D., from the School of Education co-authored an article recently published in an international journal. Read the article. Biff Baker, Ph.D., College of Business Biff Baker, Ph.D., received a Best in Track award from the Society for Advancement of Management for research examining bureaucratic inefficiencies within Section 8 subsidized housing programs. The study focuses on how administrative delays and communication breakdowns can create housing instability for families and discourage landlord participation. It also offers recommendations to improve accountability and trust in public housing systems. Brendan Fry, Ph.D., Department of Mathematics and Statistics Brendan Fry, Ph.D., professor in the Department of Mathematics and Statistics, co-authored the article “Modeling the Impact of Venous Collapsibility on Retinal Oxygenation,” published in the Journal of Theoretical Biology. The interdisciplinary research brought together scholars from the University of Delaware, Indiana University Indianapolis, McGill University and the Icahn School of Medicine at Mount Sinai Hospital. Access the article. Bridget Arend, Ph.D., School of Education Bridget Arend, Ph.D., professor in the School of Education, co-published the book “Facilitating Seven Ways of Learning: A Resource for More Purposeful, Effective, and Enjoyable College Teaching, Second Edition” with James R. Davis. The book explores practical approaches to improving college teaching and student learning experiences. Buy the book. College of Business Faculty At the 2026 Western Decision Sciences Institute international conference, Sally Baalbaki-Yassine, Ph.D., Debora Gilliard, Ph.D., and David Lynn Hoffman, Ph.D., from the College of Business received the Best Case Study Paper Award for “Oreo: A Global Success Story in Brand Evolution and Market Leadership.” Lisa McVicker, Ph.D., and Apryl Brodersen, Ph.D., also had their paper, “Electronic Performance Monitoring: Employer Panacea or Legal Quagmire?” accepted for publication in the Journal of Business Leadership. Community Engagement Exchange Program Metropolitan State University of Denver was selected to host international Fellow Aleja Henao Espitia of Bogotá, Colombia through the Community Engagement Exchange program funded by the U.S. Department of State. View Espitia's LinkedIn profile. David Varel, Ph.D., College of Letters, Arts and Sciences MSU Denver historian David Varel, Ph.D., has been awarded a 2026 ACLS Fellowship by the American Council of Learned Societies. The fellowship program supports outstanding scholarship in the humanities and social sciences, and selected just 63 scholars from more than 2,000 applicants this year. Varel’s project, “The Black Chicago School: Academic Activism in the Age of American Apartheid,” explores the work of Black scholars who challenged scientific racism, built alternative institutions and helped lay the foundation for the modern civil rights movement. The fellowship provides up to $60,000 to support full-time research and writing. Learn more about the fellowship. MSU Denver Office of Financial Aid Team Several MSU Denver employees were recognized for leadership and service during the Colorado Association of Financial Aid Administrators (CAFAA) conference held in May in Crested Butte. Don Holtzen, interim associate director of systems, chaired the conference and was recognized for his service as CAFAA conference chair and technology chair during the 2025-26 term. Holtzen also received the Postsecondary Institution Professional of the Year award, which recognizes financial-aid professionals who have made significant contributions to their institutions and to CAFAA. Tori Pacheco, associate director of Student Services, helped design décor and facilitate the conference and was recognized for her service as CAFAA secretary during the 2025-26 term. Destiny Candelaria, call center coordinator, served on the conference planning committee and presented on One Stops during the event. Michael Nguyen, executive director of Financial Aid and Scholarships, assisted as a CAFAA board member and was recognized for serving as president-elect during the 2025-26 term. Richard Balbag, program assistant I, received the Distinguished Support Staff Member of the Year award, honoring staff members who have made exceptional contributions to their financial-aid offices. Military Friendly Recognition Military Friendly has awarded MSU Denver Gold Status as a military-friendly university and ranked the University No. 7 nationally for military spouses. The recognition reflects MSU Denver’s strong support systems for veterans and military spouses, including transfer credit assistance and retention-focused resources. As of 2026, 1,050 military-connected students are enrolled at the University, advancing institutional priorities around serving veterans and supporting student retention. MSU Denver Cheer Club The MSU Denver Cheer Club earned third place in the 4-Year College Small Coed Intermediate division at the USA Spirit Nationals. Celebrate the win on Instagram. MSU Denver Cybersecurity Team An MSU Denver cybersecurity team earned first place in the Strategist category at the 2026 CYBER RECon National Competition hosted at Fort Meade, Maryland, by U.S. Cyber Command. Led by Jeffrey London, Ph.D., and undergraduate student Matthew Bopp, the team competed against universities and law schools nationwide with its 30-page legal analysis on cybersecurity and free speech titled “Freedom of Speech and MDM: Misinformation, Disinformation, and Malinformation.” The paper also earned Bopp a personal invitation to apply to the University of Maryland School of Law. MSU Denver Debate Team MSU Denver Debate won the 2026 Sierra Sustainability Summit hosted at Yosemite National Park in April. Students Kat Conte and Simon Bernhard bested teams from George Washington University, Gallaudet University, Cal Poly San Luis Obispo, the University of San Francisco and Tennessee Tech in the modified present-and-defend style competition. Their proposal recommended adapting Colorado’s Keep Colorado Wild Pass model to support California state parks facing budget constraints. Learn about the summit. MSU Denver Women’s Golf MSU Denver Women’s Golf was represented on the national stage this month as junior Neige Dunn competed as an individual at the NCAA West Regional. She became the first Roadrunner in 10 years to qualify for NCAA Regionals as an individual. Get the details.
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Fans enjoy activities outside of Dover Motor Speedway before the race
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Feature: Moore ’26 Keeps Busy with Double Science Major and Music
Luke Moore ’26 came to Kansas Wesleyan on a music scholarship. He’s graduating this weekend (May 16) with a double major in Chemistry and Physics. He’s as active on the music side as he is with his science activities — he’s played the cello for 10 years, including four years at Kansas Wesleyan. It’s common, he said, for scientists and musicians to share those interests. “I’ve spoken to plenty of musicians who would have done science if they weren’t musicians, and I’ve talked to plenty of scientists who would have done music if they weren’t scientists,” Mooresaid. He played the cello in the string orchestra, which he’s done since his first year, and as a junior and senior, sang in the Philharmonic Choir as a bass. He hadn’t sung in a choir since middle schoolin Garden City, but he found he really enjoys that aspect of his college career. Also as a junior, Moore helped re-activate the STEM Club as vice president. For two years, he helped build the club’s battlebot. Last year the bot came home from battles in Kansas City in pieces, lots of pieces. This year it came home with the first-place trophy. He’s helped make frozen nitrogen ice cream at Homecoming and other events and helped organize the STEM Club’s first gingerbread house competition for the holidays. Willing to get his hands – and face – dirty for science, he encouraged fellow musicians and scientists to smash him in the face with whipped cream pies on Pi Day (March 14) as a fundraiser for the STEM Club. His capstone project involved developing a metallic organic framework (MOF) that takes a methylene blue dye out of water. “I’m proud that I was able to design this project, and I was proud that I did end up making the MOF,” Moore said. The professors and attitudes at KWU have made all this possible. “I don’t actually have time for everything,” Moore said. “I have to prioritize things. Things inevitably fall through the cracks, but it’s hard for me to choose one over the other, because I like a lot of things. And I don’t want to not do music, and I don’t want to not do science.” Moore said that Kansas Wesleyan, as a smaller university, gives students the opportunity to try things. “If I were to want to be in a music ensemble, it would probably be a bit harder in a larger school. One nice thing about this school is that everyone’s involved in something,” he said. “Professors know that you have other things going on, and they are flexible and understanding.” Moore has applied to grad schools, with an goal of earning his Ph.D. and landing at a university big enough to allow for a small research team that also gives him an opportunity to teach. He’s off to a good start. Moore is receiving the award for Outstanding Research in the Math, Physics and Computer Studies Department at Commencement this year. Story by Jean Kozubowski
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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
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The games give fans fun new ways to put their predictions to the test while enjoying the FIFA World Cup 2026™ on FOX One.
This daily habit could lower dementia risk by 35%, scientists say
A huge long-term study found that drinking two to three cups of coffee a day was linked to a much lower risk of dementia, especially before age 75. Researchers say caffeine may help keep brain cells active while reducing inflammation and harmful plaque buildup associated with Alzheimer’s disease. But more coffee wasn’t better — the protective effect appeared to level off after moderate intake.
How New Hampshire Motor Speedway Delivers Maximum Entertainment for Maximum Value
Experience more than just racing at New Hampshire Motor Speedway’s NASCAR weekend. Beyond exhilarating races at "The Magic Mile," enjoy live music, the Fan Zone, camping and more. NHMS focuses on affordability and fan value, offering a lively, all-day motorsports celebration packed with action and entertainment for the whole family.
9 events in Lancaster County this weekend, from ArtWalk to the Mountville Days Carnival
Whether the perfect weekend looks like trying samples of beer from local breweries or enjoying a rhubarb-themed festival, there's plenty of options in Lancaster County this weekend.
At this new NOLA karaoke joint, you can BYOB and sing your heart out in private rooms: ‘It’s joy’
This new spot offers something a little different than staples like Kajun’s and Cat’s Meow. There’s no stage, no bar and no DJ taking bribes for better spots in line. It’s just you, whoever you came with and a couple of microphones in a room.
Calendar Pick: Weaver D’s Food & Entertainment Festival
Athens’ beloved soul food restaurant Weaver D’s Fine Foods closed its doors at the end of February, but the community will still come together in its name for Weaver D’s Food & Entertainment Festival. The festival theme is “Automatic For The People,” the restaurant’s famous slogan that put it on the map when R.E.M. used it as an album title in 1992. Attendees can enjoy a variety of food options, including but not limited to Londynn’s Lemonade, Taylor’s Treats and Ron & Sandra’s Fish Shack. Dexter Weaver, Weaver D’s owner, will also be serving the restaurant’s full menu. Entertainment will include the New Faith Tabernacle Male Chorus, Lavender House, Mr. Mister, The PRESHA Steppas, Old Gold Sport Peppers, Smackedass, Tonya […]
SIU holds inaugural Science Reception to recognize outstanding students and faculty
The College of Agricultural, Life, and Physical Sciences at Southern Illinois University Carbondale held its inaugural Science Reception at the Gower Translational Research Center on April 30. Around 200 attendees enjoyed the evening, which included a reception, happy hour and awards ceremony.
Grizzlies forward Brandon Clarke dies at 29: No. 21 pick in 2019 NBA Draft spent seven seasons with Memphis
'He was so unique in the joy he brought to all of those in his life,' his agency said in a statement
Obesity Drug Prices Undercut Healthcare Savings, CVS CEO Says
CVS Health Corp. Chief Executive Officer David Joyner said that drugmakers must significantly reduce the price of anti-obesity medicines before the drugs will save money for commercial health insurance plans.
Too many of us were traumatised by sport at school – but it’s never too late to change
A recent study showed millions are put off by early experiences of physical education. But sport can bring camaraderie and joy
Medina business owner bound for France to compete in four-wheeler race
While local business owner Jessica Elioff has enjoyed four-wheelers most of her life, she didn’t start racing them until 2019. And after seven years of success competing stateside, Elioff will travel to France in August with a team of two other women to compete in the international endurance race, Pont-de-Vaux.
Kansas baseball drops out of top 10 in USA TODAY Sports Coaches Poll
KU baseball didn’t find much joy in its results this past week, losing all four games it played. So, it dropped in the USA TODAY Sports Coaches Poll.
Islanders Children’s Foundation Donates $150,000 to Create A Child Support Center Named in Memory of Schaefer’s Late Mother, Jennifer
Matthew Schaefer teams with Northwell Health to bring joy to families fighting cancer
What concerts are happening in the South Bend area from May 11 to 17?
Find out where to enjoy live music and concerts across the Michiana area from May 11-17, 2026, including free events.
Three enjoyable ways to slow your brain's ageing
Our brains thrive on a challenge, but it doesn't all have to be hard work to see the health benefits. Here are three simple and fun ways to protect your brain as you age.
How Healthy Are Artichokes?
Nutritionists say it’s worth putting in the work to enjoy the benefits of these spiky bulbs. (But it’s OK to cheat, too.)