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SpaceX Sees a Huge Market for Its Business. Most of It Isn’t Space-Related.
SpaceX said in its IPO filing yesterday that it estimates a “TAM,” or total addressable market—a business term for potential revenue opportunities—of $28.5 trillion. The figure includes: $370 billion in Space from space-enabled solutions and $1.6 trillion in Connectivity, including Starlink Bro
‘Still shakes me’: Contractor recounts finding human skull in S.C. business
A contractor found human remains on Tuesday in the crawl space of a South Carolina business.
The Banks That Won a Piece of SpaceX’s Colossal I.P.O.
Across Wall Street, bankers have been clamoring to lead what is expected to be the biggest-ever initial public offering.
Syensqo to Review Performance and Care Unit to Focus on Specialty Materials
The chemicals company is seeking to become a pure-play specialty materials and tech company, increasing its exposure to aerospace and defense, electronics, healthcare, energy and advanced mobility applications.
Here are SpaceX's most important deadlines from its S-1 filing
SpaceX's S-1 filing includes timelines for when the company expects Starship to begin payload deliveries and deploy its next-gen Starlink satellites.
Musk’s SpaceX discloses massive losses ahead of expected record-breaking IPO
The company, whose initial public offering is expected to attract record investment, had nearly $18.7 billion in revenue in 2025 but overall lost $4.9 billion.
SpaceX IPO filing reveals Elon Musk's space economy vision
SpaceX IPO filing reveals Elon Musk's vision for Mars factories, asteroid mining, and space tourism.
Why Is Space So Fascinating?
We all tuned in when the Artemis II crew splashed down off the San Diego coast. Planetary scientist and academic leader Meenakshi Wadhwa shares her thoughts on why space captures our imaginations so well.
SpaceX warns that Grok's NSFW AI is risky business
SpaceX listed the chance that Grok could generate "potential nonconsensual or exploitative imagery" as a risk factor in its pre-IPO paperwork.
Space debris is forcing satellites to dodge more often — costing us vital science. 'Things will get worse before they get better'
"Each time a satellite has to maneuver to avoid a potential collision, it uses fuel which is a finite and precious resource."
Anthropic is paying SpaceX $1.25 billion a month for AI compute
SpaceX and Anthropic have a major compute power deal valued at $1.25 billion a month, utilizing SpaceX's Colossus data centers for AI growth.
SpaceX IPO filing gives first look at Musk rocket company finances
SpaceX's S-1 paperwork, which pulls back the curtain on the rocket company's finances, is a required step ahead of its hotly anticipated IPO.
Cancer, Blood Research Tops Science Schedule as Spacewalk Preps Continue
The Expedition 74 crew continued exploring ways to advance cancer treatments and prevent excessive bleeding aboard the International Space Station on Wednesday. The orbital residents are also unpacking a U.S. cargo spacecraft while preparing spacesuits for an upcoming spacewalk.
‘Still shakes me’: Contractor recounts finding human skull in crawl space of Rock Hill business
The remains were discovered around 11:30 a.m. on Tuesday at a business along Oakland Avenue near North Trade Street.
A Physical Warp Drive Was Supposed to Be Impossible. Then These Scientists Found a Loophole.
Humans are one (small) step closer to traveling at faster-than-light speeds.
Interstellar's most-discussed scene is treated as exotic science fiction, but the family-separation problem it dramatises is one of the more actively studied subjects in long-duration mission planning.
The scene that has stayed with most viewers of Christopher Nolan’s Interstellar is not the wave-planet, or the visualised black hole, or the climactic library of moments. It is the one in the middle of the film where Matthew McConaughey’s character, Cooper, watches twenty-three years of his children’s recorded video messages, having lost that span […]
Mars shines in ethereal photo from Psyche space probe
NASA's asteroid explorer is on a 2-billion-mile mission.
Frank Mitloehner named UC Davis animal science chair
His appointment is effective June 1.
NASA’s Fermi Glimpses Power Source of Supercharged Supernovae
An international team studying data from NASA’s Fermi Gamma-ray Space Telescope concludes the mission detected a rare, unusually luminous supernova. The
Astrolab's FLIP rover to carry NASA science, supporting Artemis moon base
Astrolab's FLIP rover, launching from Kennedy Space Center this year, will carry NASA science and tech to the moon, all in support of the moon base.
Fells Point bar owner warns vacant storefronts signal strain on Maryland businesses
Sitting inside Max’s Taphouse in Fells Point, owner Gail Furman discusses the stretch of vacant spaces near one of Baltimore’s most recognizable bars.
Scientists found a giant magnetic “twist” hidden inside the Milky Way
Astronomers have uncovered a strange magnetic “flip” hidden inside the Milky Way. Using a new radio telescope, researchers mapped the galaxy’s magnetic field in unprecedented detail and discovered that a mysterious reversal in the Sagittarius Arm cuts diagonally across space. The finding could reshape how scientists understand the structure and future evolution of our galaxy.
Possible human remains found in crawl space of Rock Hill business
Officers were called around 11:30 a.m. to a business in the 300 block of Oakland Ave. after workers renovating the property found the remains in the crawl space.
Possible human remains discovered at Rock Hill business: Police
The Rock Hill Police Department is investigating the discovery of possible human remains in the crawl space of a business on Oakland Ave.
"I'll buy 10 of those"—NASA science chief yearns for mass-produced satellites
How in the hell do I get more science into space? That is my goal."
Environmental Science Classes Earn Eco-Educator Award — Central Catholic High School
Central Catholic’s AP Environmental Science classes recently earned the Eco-Educator Award from the S.A.V.E. (Science Alliance for Valuing the Environment) Foundation. The S.A.V.E. Eco-Educator Award is a regional honor celebrating Toledo-area teachers who exhibit a strong commitment to en
Docs Live and voice AI in Google Keep let you talk to create, ‘Google Pics’ announced
Google at I/O 2026 announced AI voice features for Docs and Keep. The company also unveiled “Google Pics” as the newest Workspace app.
UT Health San Antonio researcher awarded $2.1M award to study cellular structures - UT Health San Antonio
Like a busy restaurant kitchen, our cells depend on well-organized working spaces to assemble the “recipes” that keep the body healthy. When these spaces are disrupted, important functions like gene regulation and DNA repair can go awry, promoting diseases such as cancer and neurodegeneration. UT San Antonio scientist David Libich, PhD, associate professor in […]
Garden Grows into Therapeutic Space at Kettering Health Behavioral Medical Center
To boost the behavioral health experience of patients, a therapeutic garden was created at Kettering Health Behavioral Medical Center.
Grad hopes to advance women’s health in space
Duffield Engineering graduate Priya Abiram ’25 is working toward a future where space travel is designed to support all bodies.
Vast Launches Satellite Bus Business Line
The commercial space station company announced this morning that it would start selling satellite buses, specifically targeting the low-cost, high-volume, high-power niche for missions from comms, to EO, to national-security programs.
XTI Aerospace's Drone Nerds Business Adds Agremo Crop Monitoring and Field Analytics Platform to Enterprise Software Portfolio
/PRNewswire/ -- XTI Aerospace, Inc. (Nasdaq: XTIA) ("XTI Aerospace," "XTI," or the "Company"), an aerospace and advanced technology platform and parent company...
Europe's oldest science park could be redeveloped
Cambridge Science Park submits plans which could create 20,000 jobs and new public spaces.
The women leaving the 'New Right'
Defectors from the ‘New Right’ say that sexism is a feature, not a bug of modern-day conservatism.New York Magazine’s Sam Adler-Bell published The Young Women Leaving the New Right, detailing the experiences of conservative women who say that rampant misogyny within the space is pushing them out of a community they helped build. From demanding that women stay home and out of public life to advocating for the repeal of civil rights law - some conservative women have reached their limit. But host Brittany Luse wonders: will this change of heart stick in the voting booths? Or is this just more of the same?To answer that question, Brittany is joined by Editor at Large of the 19th and NABJ President, Errin Haines. Errin helps unpack the link between the ‘new’ and ‘old’ right, white women checkered political history, and how searching for community can sometimes lead people down dark paths. Want more about women and politics? Check out these episodes:Progressive women have 'had it!' And they're fighting back.The political power of Gen Z womenEnough is enough. Is it time to leave America?Support Public Media. Join NPR Plus.Follow Brittany on Instagram: @bmluseFor handpicked podcast recommendations every week, subscribe to NPR’s Pod Club newsletter at npr.org/podclub.
Cambridge Science Park plans create '20,000 new jobs and public spaces'
Cambridge Science Park submits plans which could create 20,000 jobs and new public spaces.
WATCH: A Spacecraft Is Launching to Study How Earth Survives Solar Storms
The first-ever X-ray observations of our planet's magnetic field.
A strange ripple in spacetime could be the first fingerprint of dark matter
Black holes crashing together may be revealing clues about dark matter hidden across the universe. Physicists created a new model predicting how dark matter could subtly distort gravitational waves produced during black hole mergers. When they tested the method on real LIGO data, one signal stood out as potentially carrying a dark matter imprint.
Trucking insurance: How to make underwriters fight for your business
An Overdrive 2025 Small Fleet Champ's flatbed biz makes good on growth goals with a transparent promise to owner-operators: 15% of the gross for costs, no insurance chargebacks. "We had companies fighting over our business" this year, he said, with similarly transparent ELD data engagement.
NASA Spaceline Current Awareness List #1,200 15 May 2026 (Space Life Science Research Results)
NASA Spaceline Current Awareness List
Four NASA payloads to fly on Astrolab’s first lunar rover
Astrolab’s first lunar rover will carry four NASA payloads on a mission planned to launch later this year.
NASA Selects Next Class of Space Health Postdoctoral Fellows
The NASA-funded Translational Research Institute for Space Health (TRISH) has selected two early‑career scientists for its next class of postdoctoral fellows.
Google is rolling out its redesigned Workspace app icons
Google’s Workspace icons got an ombre makeover.
Ford Europe plans five new vehicles to turn around passenger business
Although it has leadership in commercial vehicles on the continent, the Blue Oval has struggled with market share in the retail space.
Yakima Symphony Orchestra launches summer chamber series
The Yakima Symphony Orchestra will take Beethoven beyond the concert hall this summer with a new chamber music series featuring performances at libraries, wineries and community spaces across the Yakima
New MatterChat Model Helps AI to ‘See’ the Language of Science
From writing emails to generating computer code, much of the artificial intelligence prevalent in our daily lives has succeeded by mastering one domain: text. However, this leaves a major blind spot in the physical sciences, where models depend on the high-resolution, three-dimensional data of the physical world, like the intricate lattice of atoms in a crystal. Delivering on the promise of using AI for science requires teaching these data-driven text models to seamlessly “talk to” physics-based models. Now, a new AI framework from Lawrence Berkeley National Laboratory (Berkeley Lab), called MatterChat, solves this problem by creating a specialized “bridge.” It connects the conversational power of a Large Language Model (LLM) with a physics-based AI that models “interatomic potentials”: the complex physical forces between atoms. The resulting system already significantly outperforms general-purpose AI tools like GPT-4 at predicting material properties, and the team hopes it can accelerate scientific discovery by serving as a robust research partner that provides grounded insights and generates step-by-step instructions for synthesizing novel materials. A paper describing this work was recently published in Nature Machine Intelligence. “Traditional simulations can provide the physical rigor required for materials science, yet their computational cost remains prohibitive for high-throughput screening. Conversely, while LLMs excel at rapid knowledge synthesis, they inherently lack the ‘structural vision’ to interpret materials directly from their underlying atomic coordinates,” said Yingheng Tang, a postdoctoral researcher in Berkeley Lab’s Applied Math and Computational Research Division (AMCR) and lead author on the paper. “MatterChat was built to solve this dilemma, empowering LLMs with a structural ‘vision’ that allows researchers to leverage their full potential for solving complex, real-world materials challenges.” Empowering language models to solve complex challenges in materials science To build MatterChat, the Berkeley Lab team drew inspiration from technologies like Vision Question Answering (VQA) and Text-to-Image (T2I) generation. In these tasks, AI must translate high-level text concepts into visual images, or vice versa. Doing so requires developers to build tools that “bridge” two fundamentally different forms of data. The researchers adapted this concept to the physical sciences. With MatterChat, they created a “bridge model” that successfully connects an LLM’s general knowledge with the deep understanding of the atomic-scale world encoded in scientific interatomic potentials. Until now, researchers using LLMs to solve materials problems usually had to feed them raw data files as if they were just strings of text. It’s like asking an AI to understand a complex 3D engine based only on a parts list: the LLM can read the names, but it can’t “see” how the atoms fit together in space. MatterChat solves this by training a specialized AI bridge model, pre-trained on millions of crystal structures and an LLM, to align the LLM’s representation of the world with the interatomic potential’s representation of the world. The bridge model can translate physical insights into a format the LLM can actually understand. By giving the LLM these “scientific eyes”— a scientific “inductive bias” in the terminology of AI — the Berkeley Lab team has transformed it into a robust research tool capable of providing grounded scientific insights into complex materials challenges, such as predicting thermal stability or analyzing electronic band gaps. “We think of atoms as living in a physical space, but from a machine learning perspective, they are just vectors living in some very non-trivially structured manifold in a high-dimensional Euclidean space; and, of course, the same is true for the sentences and paragraphs that we use to express our ideas about those atoms,” said co-author Michael Mahoney, Berkeley Lab’s Scientific Data Division (SDD) AI Initiative Research Lead. “The bridge model basically gets those two structures to ‘talk with’ each other.” As a proof-of-concept of this general approach, the team trained their bridge model on a dataset curated by pairing nearly 143,000 stable atomic structures from the Materials Project with their corresponding physical properties. This training data was automatically assembled using the Materials Project’s API and deliberately enriched with properties fundamental to microelectronics design — like formation energy and bandgap — allowing MatterChat to learn the complex patterns connecting a material’s atomic blueprint to its functional performance. To validate their model, the researchers benchmarked MatterChat against a suite of other AI systems, from general-purpose LLMs to other specialized scientific AI methods. The results show that MatterChat consistently outperformed its competitors across a range of tasks. The model was more accurate in classifying material types and demonstrated superior precision in predicting numerical properties. For example, it excelled at predicting a material’s bandgap, a property critical for designing new electronics from high-capacity energy storage to next-generation computer chips. “Our design is significantly more efficient because we don’t have to build a massive AI model from the ground up,” said co-author Zhi (Jackie) Yao, a research scientist in Berkeley Lab’s AMCR. “Instead, we take two powerful, pre-trained models — a structural encoder for materials physics and an open-source LLM — and use them off-the-shelf. The only component we actually train is the lightweight ‘bridge model’ that translates between them. It’s the difference between building an entire car factory and simply designing a smart adapter that connects a world-class engine to a world-class navigation system. This approach is not only computationally efficient, but also makes the system modular, so we can easily upgrade components or adapt the bridge for other scientific domains in the future.” Crucially, this modular design highlights exactly how institutions like Berkeley Lab and the Department of Energy are carving out a highly valuable niche in the booming AI landscape. Rather than competing with Silicon Valley tech giants to build ever-larger language models from scratch, the lab is focusing on the specialized connective tissue that makes commercial AI useful for hardcore science. Because the bridge model approach underlying MatterChat is forward-compatible, it is perfectly positioned to leverage these parallel tracks of innovation. As Mahoney pointed out, “We expect that industry will continue to develop improved LLMs, and we expect domain scientists and facilities will continue to generate new data. An important part of scientific machine learning is not simply to solve problems on today’s data, but instead to develop general methods that will be forward-compatible with orders of magnitude more data, whether from scientific domains or from LLMs.” According to Yao, the MatterChat project, which was initially developed and enhanced with funding from a Berkeley Lab Laboratory Directed Research & Development (LDRD) Program, will now expand its capabilities. In a collaboration with Fermilab, MatterChat is already contributing to a U.S. Department of Energy Genesis Mission project — called Accelerating eXtreme Environment Specs-to-Silicon (AXESS) — that aims to speed up the development of next-generation, high-speed, radiation-hardened detectors for challenging particle physics experiments by using advanced 3D integrated circuits (chiplets) and AI-driven data analysis. In addition to the LDRD support, the team also credits supercomputing resources at the National Energy Research Scientific Computing Center (NERSC), located at Berkeley Lab, with MatterChat’s success. “We are incredibly grateful to NERSC; this research simply would not have happened without access to the Perlmutter supercomputer through their AI for Science program,” said Tang. Wenbin Xu, a NERSC postdoctoral fellow at the time, was also a major co-author of the work, as was Benjamin Erichson, a research scientist in Berkeley Lab’s SDD, highlighting the benefits of AMCR-SDD collaboration on AI for science. ### Lawrence Berkeley National Laboratory (Berkeley Lab) is committed to groundbreaking research focused on discovery science and solutions for abundant and reliable energy supplies. The lab’s expertise spans materials, chemistry, physics, biology, earth and environmental science, mathematics, and computing. Researchers from around the world rely on the lab’s world-class scientific facilities for their own pioneering research. Founded in 1931 on the belief that the biggest problems are best addressed by teams, Berkeley Lab and its scientists have been recognized with 17 Nobel Prizes. Berkeley Lab is a multiprogram national laboratory managed by the University of California for the U.S. Department of Energy’s Office of Science. DOE’s Office of Science is the single largest supporter of basic research in the physical sciences in the United States, and is working to address some of the most pressing challenges of our time. For more information, please visit energy.gov/science.
What’s Next for Artemis II AVATARs
Organ chips from Artemis II's AVATAR investigation have arrived at the laboratory at Emulate, Inc. in Boston, Massachusetts for analysis. The AVATAR (A Virtual Astronaut Tissue Analog Response) investigation uses personalized organ chips made from each astronaut's own cells to study the impacts of space radiation and microgravity on human health.
Gradient Google icon redesign starts rolling out
Following our report last month, Google is beginning to roll out its gradient icon redesign for Workspace apps.
Op-ed: Peru’s Politics of Instability
As Peru approaches new presidential elections, a cycle of political upheaval has normalized instability, raising urgent questions about whether democracy can function when crisis becomes routine.
Op-ed: Peru’s Politics of Instability
As Peru approaches new presidential elections, a cycle of political upheaval has normalized instability, raising urgent questions about whether democracy can function when crisis becomes routine.
Op-ed: Trump Fires All Governing Members of the US National Science Foundation Amidst Major Cuts to Research
Trump Administration efforts to erase the independence of federal agencies, and roll back research, continue in the firing of all 22 National Science Foundation board members
Windows boot partition runs out of space for Microsoft's May security update
Testing? We've heard of it
'Truly significant': James Webb telescope reveals largest-ever map of the universe's hidden megastructures
Using the James Webb Space Telescope, astronomers have created the most detailed map of the cosmic web ever.
How AI is helping space exploration now — and what the future holds
The mere mention of AI may make some people want to run for the hills, but when it comes to space exploration, it’s an important tool.
“Un-African” or Unjust? The Politics of Homophobia in Senegal
In recent months, Senegal has found itself at the center of growing debates over LGBTQ rights as rising homophobia and stricter laws reshape the nation’s social and legal landscape. Building on past legislation, a 2026 bill to increase penalties for queer individuals has been met with strong public
Great Balls of Fire
An astronaut on the International Space Station was surprised to photograph a shower of light streaking through the darkness while looking out of the Cupola.
Sports Roundup: Boys Tennis & Boys Lax Lose Home Matchups
Nantucket Current is the island's leading online news source. We deliver the news, stories, and people of Nantucket, unbiased and unfiltered.
Decoding chirality at the nanoscale with momentum-space polarimetry
Light: Science & Applications - Schematic illustration of Fourier-domain Mueller matrix polarimetry probing light-matter interactions in gammadion nanostructures, and enabling extraction of...
Spaceborne snapshot compressive hyperspectral imaging
Light: Science & Applications - We propose and complete the world’s first computational imaging-enabled compact spaceborne snapshot compressive hyperspectral payload, named...
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.
Astrobiology Science Conference (AbSciCon26) Media Tips 2: Technosignatures, Life in Space, Existential Questions, Robot Explorers
The 2026 Astrobiology Science Conference hosted by the American Geophysical Union (AGU) will convene next week
God, The Science, The Evidence: The Dawn of a Revolution
In effect, therefore, this book is a call for a return to the medieval vision of a rational God who created rational creatures equipped to discover the verities of nature. In other words…
Minnesota Vikings News and Links: What Moves Are Next?
Not much going on right now as we await the first OTAs and minicamp. The current Cap Space (per OverTheCap) without the Jennings signing reflected is : $12,267,125One June 2nd it will increase due to the Post-June 1 release savings: +$12,500,000 (combined from Harrison Smith and Jonathan Allen)Adjusted Total Cap Space: $24,767,125 I imagine Jennings […]
SpaceX Dragon capsule delivers science and supplies to space station
A SpaceX Dragon cargo spacecraft delivered 6,500 pounds of science and supplies to the International Space Station on Sunday, May 17, 2026.
SpaceX Dragon capsule delivers science and supplies to space station
The cargo spacecraft docked at 6:37 a.m. EDT on Sunday (May 17).
Why We Can’t Cut Earth Science to Fund the Next Earthrise Shot
We love space, but not as an abstraction. For my twin sons, it is a tradition. Their birthday themes have evolved from “Two the Moon” for their second birthday, featured on NASA.gov, to “From Space to the Farm,” with the boys in those iconic orange astronaut suits, standing in a cornfield. In the ye...
SpaceX Dragon Docks to Station Filled with New Science Experiments
At 6:37 a.m. EDT, the SpaceX Dragon spacecraft docked to the forward port of the International Space Station’s Harmony module, carrying nearly 6,500 pounds of food, supplies, and equipment for the Expedition 74 crew. This is the 34th SpaceX commercial resupply services mission to the space station for NASA.
SpaceX Dragon Approaching Station Packed with Science and Supplies
At approximately 9:50 a.m. EDT, Dragon will dock autonomously to the forward port of the space station’s Harmony module.
Letter from the editor: Farewell from the executive science editor
Journalism was probably the last thing on my radar when I walked through the club fair as a first-year. And for most of my time at Tufts, it stayed that way. My best friend Carmen was super involved in that world, but her involvement was the closest I got to that space.
Spotlight: NWA Space and Science opens office space, public astronomy library and geology collection in Rogers
Inside a modest room nestled on the second floor of the Jones Community for Nonprofits in Rogers, the future of the Northwest Arkansas Space and Science Center is taking shape.
Spotlight: NWA Space and Science opens office space, public astronomy library and geology collection in Rogers
Inside a modest room nestled on the second floor of the Jones Community for Nonprofits in Rogers, the future of the Northwest Arkansas Space and Science Center is taking shape.
AYANEO Pocket Block Leak Points to a Smaller, Cheaper Android Handheld
A leaked user manual and renders reveal the AYANEO Pocket Block, an upcoming vertical Android gaming handheld. Here is everything we know so far.
Our Guide to the Small Business Sales Week 2026
Treeline Review’s guide to Garage Grown Gear’s Small Business Sales Week 2026 for ultralight and cottage backpacking brands.
NASA’s New AI Processor Is 500x Faster Than Current Space Computers
NASA’s new AI-ready space chip could give future spacecraft a brain of their own.
Abilene Heritage Square opens with new library, science center
Abilene Heritage Square, a revitalized 1924 high school campus, opens Saturday, May 16, featuring a new library, science center and event spaces.
Apple's Heaviest iPhone in Years Is Getting Heavier on Purpose
iPhone 18 Pro Max leaks confirm 8.8mm thickness, 240g+ weight, a 5,200mAh battery, and a mechanical variable aperture camera. Here's what each change actually means.
Could a seventh downtown business be closing this year? What we know.
Since October 2025, downtown New Bedford has experienced multiple business departures, with the 30 North Water St. space now listed for sale.
NASA Science, Cargo Launch on 34th SpaceX Resupply Mission to Station
The 34th SpaceX commercial resupply mission under contract with NASA is headed to the International Space Station with new scientific experiments after
New entertainment venue proposed on Howard
Space would serve as a cafe by day, comedy club by night.
Dragon Nears Launch as Crew Works Biomedical Science and Spacewalk Preps
A SpaceX Falcon 9 rocket, with a cargo-packed Dragon spacecraft atop, stands ready to launch to the International Space Station at 6:05 p.m. EDT today, weather permitting, from Launch Complex 40 at Cape Canaveral Space Force Station in Florida.
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.
What happens when you put a health clinic inside a preschool? This Michigan district is finding out
The Saginaw County Health Department will provide nutrition education, healthy food resources, breastfeeding support, and referrals to additional community services through the clinic space.
Craig Bacon to lead U of A Department of Food Science
Having worked for Simmons Foods, Tyson Foods and Oscar Mayer, he brings an industry perspective to the university.
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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