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Tennessee, Lipscomb ready for NCAA baseball tourney openers
Bisons will battle Mississippi State for fourth time this season while Vols will face East Carolina
Everlane Co-founder, Shocked by Shein Acquisition, Wants a Redo
Michael Preysman, who ran the brand for a decade, can’t believe what happened to the company he built. Can he start over?
25 years ago click chemistry changed science. What happened next?
Barry Sharpless and his team first introduced the concept of 'clicking' molecules together 25 years ago
Arkansas football loses '27 commitment
Tight end George VanSandt, who committed to Arkansas in April, has reopened his recruitment.
A severed piece of sea cucumber refused to die, and what happened next could transform medicine
From the revived corpse of Frankenstein's monster to the disembodied hand, "Thing," in the Addams Family, reanimated tissue is one of the most enduring images in science fiction. It turns out, that image ...
Openings, closings and ownership changes: The latest in Centre County business news
A new barbershop opened its doors, while plans were announced for new restaurants, a pickleball club and more.
Ebola, chemical plants and health, hantavirus, common colds, heat and more
As they say, bugs have ears. Public health has had a relentless May. Chemical plant (near) explosions, Ebola, hantavirus, and that's before you even get to the usual suspects: common colds, heat, and ticks. Here’s an attempt to keep you up to speed and, more importantly, what it means for you and your community. But first, an announcement: World Cup The World Cup starts in 15 days (not like anyone is counting down), and we are hanging TVs in the Health Security Operations Center. It’s going to be a gorgeous, chaotic celebration of basically every culture on earth. And it’s going to take a team effort—from communities to individuals, from public health to health care—to keep people healthy. That’s where you come in. If you’re going to the games or live within 30 miles of a stadium, we would love to hear from you. Sign up for a weekly survey here. Thanks to the more than 1,280 people who have already signed up…you will be hearing from us soon!! Global disease “weather report” Hantavirus: Two more cases The global count of cruise ship passengers with hantavirus has now increased to 13 cases (11 confirmed), with three deaths. The two new cases are overseas and among people who were already quarantining: A crew member in the Netherlands. A Spanish national passenger who was quarantining at home tested positive through daily monitoring. They are now in a biocontainment unit. In the U.S., everyone remains negative. There may be more cases, given that the incubation period of hantavirus (the time from exposure to infection) is 45 days. But this week, we will reach a major milestone: the median incubation window is 18 days, and that will pass on May 29. What this means for you: Your risk from this cruise ship outbreak remains essentially nil at this point. Ebola rages on in Central Africa Big thanks to Dr. Craig Spencer, a humanitarian physician who has treated and survived Ebola, for jumping in to provide the YLE community with an update. Craig, take it from here… The combined confirmed and suspected Ebola cases in DRC are now more than 1,000. All signs are pointing to a very long and catastrophic outbreak in Central Africa: This is a vast undercount. We know this because the test positivity rate is hovering around 50%, only 20% of contacts are being traced (and in some areas, no contacts at all), and more cases keep popping up with no known connection. This all points to widespread and undetected community transmission. This is in only a week of detection. Compared to previous outbreaks, the growth is very fast, as the huge West Africa outbreak in 2016 was first detected at 49 cases and rose to 208 cases a month later. It took four months for that outbreak to reach the size of the current one in the DR Congo. The cases are spread out across 16 health zones. There are now multiple epicenters, making containment very difficult. Next door in Uganda, the case count is seven. While this number is low compared to DRC, a concerning development is that two health care workers recently tested positive with uncertain exposure histories. If they weren’t treating known Ebola cases, this means it’s spreading undetected in Uganda as well. On the ground, backlash, including the burning of health centers, has emerged, a pattern seen in nearly every outbreak and rooted in deep community distrust. It often stems from outside actors working in communities without fully understanding or addressing local priorities. Affected populations may recognize the severity of Ebola while still holding other concerns as more pressing, such as where their loved ones are buried. Community trust is essential to an effective response, but difficult to build during an active emergency. It is best established long before a crisis begins. U.S. priorities are made clear, and may backfire. The U.S. Administration has shown that its first priority is keeping Ebola out, with helping end the outbreak in the DRC a secondary concern. That's meant travel restrictions broader than anything we've imposed before — covering travelers from across the region, and reportedly some green card holders and permanent residents as well. For example, just these past two days, news broke that high-risk American travelers will be subject to a mandatory quarantine in Kenya before they are allowed to return. If an American is infected, the U.S. government plans to send them to a hospital it is standing up from scratch in Kenya. (Currently, Americans who were in the area are allowed to return but are diverted to three airports—Houston, Atlanta, and DC—for further screening.) Past administrations have used travel notices and stepped-up screening; this goes much further. At first blush, these strict precautions may sound prudent. But this approach could backfire in three ways: Restrictions this blunt give people every reason to hide where they’ve been and whom they’ve been near — making the people we most need to find harder to track, not easier. They also breed a false sense that this is someone else’s problem. But diseases are humbling. They find the small cracks in even the most impenetrable-seeming defenses. Lives lost. There is no treatment for this Ebola strain, which means survival depends heavily on the quality of the health system. We have that system in the States, but we are choosing not to use it for infected Americans. This is unbelievable and infuriating. (See a deeper dive from me here.) The only real way to lower the risk to Americans — and everyone else — is to end the outbreak in the DRC and across the region. What this means for you: If you have travel plans to this region, it’s time to cancel them. This is a high-risk situation in Central Africa, and CDC released a Level 4 Travel Advisory. There is also great uncertainty if and when the Administration will let you back in. To the general public in the U.S., your risk remains very, very low right now. U.S. disease “weather report” Ticks: past peak season? Good news, especially for people in the Northeast and Midwest: tick numbers continue to decline. Though we are at the peak of the season, this unusually early year is trending favorably. Heat-related illnesses in the North Heat risk is certainly not blanketing the entire country yet, but this week it will be moderate in the Midwest and the Southeast. What this means for you: Be sure to check the CDC HeatRisk tool. A red day isn’t the best day for that soccer game for a kid with asthma, and a stretch of orange days is a great time to check on your elderly neighbor. Common colds surging As far as respiratory viruses go, the only thing really going around right now is the common cold. It is higher this year than last year, but should peak very soon before returning this fall. Spotlight: Chemical plants Over the weekend, YLE California covered the serious situation that unfolded around a chemical plant in Orange County, California. Thankfully, the worst-case scenario (a chemical explosion) was mitigated, but only through luck. The health implications in a densely populated area could have been catastrophic. As the situation was winding down, another chemical explosion struck Washington State. This one was fatal. Health officials say the risk to surrounding residents from chemicals in the air and ground remains low, though the community deserves far greater clarity. Clean air and clean water consistently rank as Americans’ top public health concerns — yet when chemical disasters strike, communities are too often met with reassurances rather than transparency and accountability. Residents near the 2023 East Palestine, Ohio train derailment, for example, are still waiting to understand the long-term impact on their health, with few clear answers. What this means for you: Many are wondering if facilities processing potentially dangerous materials are in their neighborhoods. This interactive map allows you to enter your ZIP code and see all facilities monitored by the EPA, including any violations. Good news Ebola vaccines and treatment for the Bundibugyo species are in development. Two vaccine platforms are being explored, at least one of which may be deployable in as little as 2 months. One vaccine is being developed by Oxford, and the other uses the same biotechnology as the FDA-approved Zaire species of Ebola. (It may provide cross-protection, but it’s unclear at this point.) On the treatment side, two promising monoclonal antibody cocktails are likely to be deployed, though doses are limited and logistical hurdles remain significant challenges. Anni over at The Biotech Tea had a great explainer about the Ebola vaccine gap, if you want to read more. [ The Biotech Tea The Ebola vaccine gap, reading vessel damage, & the Makary exit 🗝️ Paid subscribers get the Biotech Term of the Week at $30/year (~$2.50/month). I try to keep it intentionally accessible, but if cost is ever a barrier, send me a message. A few people asked about expensing your subscription, so I put together a short email template… Read more 6 days ago · 10 likes · Annicka Evans, PhD ](https://www.thebiotechtea.com/p/the-ebola-vaccine-gap-reading-vessel?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Polycystic ovary syndrome (PCOS) has been officially renamed polyendocrine metabolic ovarian syndrome (PMOS), following more than a decade of debate and input from roughly 22,000 clinicians, researchers, and patients worldwide. This is good because the old name was medically misleading, leading to patients without visible cysts being dismissed or overlooked entirely. The WHO estimates that 70% of people with the condition remain undiagnosed. A more accurate name should improve recognition, reduce stigma, and ultimately help the millions of people living with this condition get diagnosed and treated sooner. Poll Loading... Bottom line Public health situations are everywhere right now. Staying healthy takes public health professionals and systems working tirelessly behind the scenes and each of us showing up for our neighbors and communities. Love, YLE Big thanks to Ed Nirenberg for staying on top of the Ebola vaccines, Hannah Totte for all the figures, Dr. Craig Spencer for the Ebola insight, and Dr. Matt Willis for covering the chemical situation in CA. Your Local Epidemiologist (YLE) comprises a team of experts, ranging from physicians to immunologists to epidemiologists to nutritionists, working together with one goal: to “Translate” ever-evolving public health science so that people are well-equipped to make evidence-based decisions. YLE suite of newsletters reaches over 475,000 people across more than 132 countries. This newsletter is free to everyone, thanks to the generous support of fellow YLE community members. To support the effort, subscribe or upgrade below: Subscribe
Redstone community welcomes long-awaited Food and Beverage Entertainment Center
Redstone’s new Food and Beverage Entertainment Center, the new home for the 324-seat Challenger Bingo and the Rocket Grill restaurant, officially opened Thursday.
Vaughn Grissom's late grand slam lifts Angels over Tigers
Looking to build momentum from a weekend series sweep, the Los Angeles Angels did just that in their series opener against the Detroit Tigers, extending their win streak to four in a 10-6 victory that saw late game heroics on Tuesday night at Comerica Park.
Epic Games Removes Porsche "Concept Image" That Sure Looks Like AI
This week, Epic Games published a concept-art image showing what appeared to be a Porsche vehicle dropping into Fortnite. However, it was quickly removed after players theorized it had been made with the use of generative AI. And while Epic has since offered an explanation for what happened, something still seems … off. Almost immediately...
Armenia signs strategic partnership deal with US as election approaches
PM Nikol Pashinyan, who deepened ties with US, faces challenge from pro-Russia parties in upcoming parliamentary polls.
Bari Weiss: Think For Yourself, Not By Yourself
When we launched The Free Press, the plan was simple: Tell the truth plainly, and let readers come to their own conclusions. I thought there would be a sizable enough group of people who would pay the cost of one coffee a month to read high-quality news and opinion journalism. But what happened next surprised even me. Yes, you came for the stories—for the investigations, essays, debates, interviews, podcasts, and arguments. But over the past few years, you also found one another. I’ve watched strangers become friends in the lobby before our debates. I’ve seen people trade numbers after live recordings of Honestly, launch businesses after Free Press dinners, fall in love after our meetups—even get married (!?), and say some version of the same sentence over and over again: I thought I was the only one. We live in the most connected age in history, and yet, millions of people feel isolated, alienated, politically homeless, and starved for real conversation. We have followers and no neighbors. Algorithms instead of interlocutors. Our social media feeds are like troughs, but what we really need is a table to gather around. The Free Press is a publication, yes, but it is also a gathering place for independent minds. So today, I’m thrilled to share our new investment in you. We are launching a new world of community experiences for our paid subscribers, designed to bring _Free Press_ers together online and in real life. Introducing Our Community Launch The Free Press Forum Our new digital home for paid subscribers, the Forum, is now live. This is where _Free Press_ers can meet, debate, recommend, organize, joke, argue, and converse like civilized people. Imagine that. This is not social media as you know it. No bots. No algorithmic rage bait. No performative nonsense. Just smart people talking to one another. Inside the Forum, you’ll find conversations on the things our readers already care about most: the issues of the day, recommendations (books, music, travel), work and networking, parenting, dating, and where to find your people—online and in real life. Jump in! Introduce yourself and join the first conversations in the Free Press Forum here. You’ll also find announcements from us (paid subscribers are first to hear!) and our writers, hosting regular Ask Me Anythings (AMAs)—live conversations where subscribers can ask questions, push back, and continue the discussion beyond the page. This Thursday, subscribers can chat with our brilliant reporter, culture vulture, and co-founder Suzy Weiss. Friday, I’ll be lending you Nellie Bowles, queen of TGIF, to answer subscriber questions live. Read more about The Forum directly from Nellie here. The Free Press Supper Club The best part of being a _Free Press_er is meeting other _Free Press_ers. So we’re inviting you all to dinner to do just that. It’s part salon, part blind date, part old-fashioned dinner party. Here’s how it works: You answer a short questionnaire. We match you with a small group of _Free Press_ers in your city. We send you to a great restaurant. You show up for supper. The rest is up to you. Your next best friend, co-founder, or future spouse may already be waiting at the table. Learn more and sign up here for our first Supper Club in 12 cities in three countries taking place on June 18. Don’t see your city? Raise your hand if you’d like a Free Press Supper Club near you. Yes, St. Louis—we hear you. The Free Press Retreats and Excursions We’re also building something new for 2027: immersive experiences for Free Press readers who want to continue the conversation trailside, poolside, or around a fire long after dessert. The Free Press Retreat will be an intimate long weekend built around big ideas, outdoor adventure, great meals, and the kinds of discussions that happen when curious people spend meaningful time together. Bring your spouse, your parents, your children—or come on your own. Free Press Excursions will take us farther afield: curated trips with Free Press writers and contributors exploring places that help explain the world we live in, from the battlefields of Gettysburg and Normandy to the Vatican in Rome. We’ll share more details this summer. If you’d like an early look when these experiences open for registration, show your interest here.**A Note to Our Subscribers** These new offerings exist because of our paying subscribers. If you’re already one: Thank you. You built this. And you keep us going. If you’ve been reading us for free and wondering whether to join, this is a very good time. For a short while only, we’re offering a rare 20 percent discount for you to join our community as a paid subscriber. You’ll unlock everything we publish, plus exclusive access to our members-only Forum, Supper Clubs, and more insider perks. Thinking for yourself shouldn’t mean thinking by yourself. See you there. —Bari
Correction to B.3 Living With a Star Science
B.3 Living With a Star Science (LWS) emphasizes the science necessary to understand those aspects of the coupled Sun-Earth system that affect life and
Lake Stevens dual-sports star was destined for college baseball. Then last fall happened
Lake Stevens' Blake Moser always expected to play baseball in college, but a big junior season as the Vikings' quarterback suddenly has college football coaches taking notice.
Southern Charm Boutique opens in downtown Loris
There's a new shop in downtown Loris to get a plethora of items. Southern Charm Boutique opened at 4262 Main St. in Loris on May 1.
Northeast Ohio chain recognized as 'Best Sports Bar'
It first opened its doors in 1983 in Bedford Heights.
AI Agents Plunged the Tech World Into Chaos. Here’s Exactly How That Happened
The definitive story of how Claude Code and OpenClaw kicked off computing’s biggest transformation possibly ever.
Swiatek, Rybakina cruise through Roland Garros openers
Four-time French Open champion Iga Swiatek and second seed Elena Rybakina both eased into the second round with comfortable wins at a sweltering Roland Garros on Monday, as Stan Wawrinka bade an emotional farewell to the tournament.The high temperatures took their toll on two-time runner-up Casper Ruud and Russian qualifier Roman Safiullin, as the Norwegian narrowly avoided a first opening-round defeat at Roland Garros, winning 6-2, 7-6 (7/5), 5-7, 0-6, 6-2.
Giants Silenced Early as Diamondbacks Take Series Opener
A solid strikeout performance from Landen Roupp and continued improvement from Rafael Devers at the plate result in a Giants loss.
‘We cannot afford it;’ Local small business announces closure
“This has been the hardest decision we have had to make since we opened our doors over a decade ago.”
Pope Leo XIV isn't joining Anthropic, but the memes are funny
A Vatican appearance by Anthropic co-founder Chris Olah prompted jokes that Pope Leo had joined the AI startup. Here's what happened.
The best sports bar in America is in Northeast Ohio: USA Today readers
The locally owned chain first opened in 1983.
Detroit Lions May 2026 Offseason Workout Medical Update: Penei Sewell
Injury updates from the Detroit Lions 2026 offseason workouts in late April and early May. Medical recap and outlook for Penei Sewell.
Trump’s Science Advisor Calls Nuclear EO ‘Most Consequential Day’ Since Atoms for Peace in 1953
When a sitting administration’s top science advisor invokes Eisenhower’s 1953 Atoms for Peace speech to frame a present-day policy move, investors should pay attention. That is exactly what happened at the Operation Gigawatt Summit, where Michael Kratsios, Chief Science and Tech Policy Advisor to President Trump, anchored the case for a structural reordering of US ... Trump’s Science Advisor Calls Nuclear EO ‘Most Consequential Day’ Since Atoms for Peace in 1953
Trump's Science Advisor Calls Nuclear EO 'Most Consequential Day' Since Atoms for Peace in 1953
When a sitting administration’s top science advisor invokes Eisenhower’s 1953 Atoms for Peace speech to frame a present-day policy move, investors should pay attention. That is exactly what happened at the Operation Gigawatt Summit, where Michael Kratsios, Chief Science and Tech Policy Advisor to President Trump, anchored the case for a structural reordering of US ... Trump’s Science Advisor Calls Nuclear EO ‘Most Consequential Day’ Since Atoms for Peace in 1953
Why Pennsylvania is moving to regulate firms offering home equity investments
Wendy Gilch wasn’t looking for a new financial threat lurking in the housing market when she opened TikTok. The Franklin Park consumer advocate was...
'Jeopardy!' recap: What happened on May 22, 2026
See who played \
Ravens urged to fill gaping roster hole for Lamar Jackson
I'm surprised it hasn't happened yet.
Sporting JAX women’s team falls in Gainbridge Super League playoff opener
Sporting JAX made history in its inaugural season, but the wait for a playoff win will continue.
Lazio Make Contact With Gattuso Who’s on Three-Man Shortlist
Lazio have reportedly opened a dialogue with Gennaro Gattuso, who is unattached after leaving the Italian national team.Maurizio Sarri Set to Leave LazioAfter Saturday’s final-day win over Pisa, Mau...
Documentary to spotlight IndyCar chief starter
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Ehlers lifts Hurricanes past Canadiens in OT in Eastern Conference Final
The Hurricanes beat the Canadiens 3-2 on Saturday night after dropping the season opener on Thursday.
What happened to the Trump administration’s in-your-face mass deportations?
The White House has intentionally retreated from its in-your-face deportation approach after confrontations between federal and state officials in multiple states erupted in Minneapolis earlier this year, when video of masked agents killing protesters sparked outrage and protest.
Gospel Revue Show Is Planned In Woods Hole
The Downstreet Gospel Revue will perform a concert of classic gospel songs from the late 1920s through the 1960s on Sunday, June 7, at the Woods Hole Community Hall. Start
Dodgers had scoring chances vs. Brewers
Being down 4-0 after the first inning put a damper in the series opener on Friday night in Milwaukee, but the Dodgers offense at least nominally threatened for most of their 5-1 loss to the Brewers. The Dodgers batted 22 times with at least somebody on base on Friday, compared to 15 plate appearances with […]
New business offers guided horseback rides across 1 of Lehigh Valley’s highest plateaus
The business, which opened this month, draws on more than 80 years of combined equine experience among its staff.
New business offers guided horseback rides across 1 of Lehigh Valley’s highest plateaus
The business, which opened this month, draws on more than 80 years of combined equine experience among its staff.
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
Picasso's Sports Café opens in Uptown
Picasso's Sports Café recently soft opened in Third Ward and they have a grand opening set for Friday, May 29.
2026 Saints Schedule: Previewing Week 3 home opener vs. Raiders
The Saints will kick off their home opener against the Raiders in Week 3 in a matchup rife with storylines. Each team has made big strides this spring
Guardians Shutout Phillies in Series Opener Classic
Guardians 1, Phillies 0
10 beloved comedies that would be horror movies if they were realistic
From 50 First Dates to The Parent Trap, movie fans discuss the rom-coms and family favorites that would be terrifying if they actually happened in real life.
ArchWell Health opens senior care centers in Milwaukee
ArchWell Health, a senior primary care provider, opened four new centers in Milwaukee and West Allis for residents 60 and over.
Diamondbacks 2, Rockies 1: Duel of the Fates
Zach Agnos shines on the mound as the Rox drop the series opener
Denver, Boulder prosecutors call congressional immigration probe ‘political theater’
Elected officials in Denver and Boulder are pushing back after the U.S. House Judiciary Committee opened an investigation into their immigration policies, as part of a broader probe targeting “sanctuary” jurisdictions nationwide. On May 20, U.S. Rep. Jim Jordan, R-Ohio, who chairs the House Judiciary Committee, issued letters to the district attorneys, sheriffs and police […]
4 takeaways from the DNC's long-awaited 2024 election autopsy report
It's never a good sign when a report comes with a big red disclaimer at the top of each page, but that's what happened on Thursday when the Democratic National Committee belatedly released its controversial autopsy report on the 2024 election.
Takeaways From the Democratic National Committee's Long-Awaited Autopsy Report on 2024 Election
WASHINGTON (AP) — It's never a good sign when a report comes with a big red disclaimer at the top of each page, but that's what happened on Thursday when the Democratic National Committee belatedly released its controversial autopsy report on the 2024 election. “This document reflects the views of ...
'Survivor 50' winner Aubry Bracco reveals what happened when the cameras turned off
'Survivor 50' winner Aubry Bracco reveals what happened when the cameras turned off, and shares about her reunion with Michele Fitzgerald.
Bubsy 4D Commits The Cardinal Sin Of Platformers
Demon Tides was wonderful, so what happened here?
BBC Sport weekly quiz: Who scored for Bruno Fernandes' record-equalling assist?
How much attention have you paid to what's happened in the world of sport over the past seven days?
Valley Health Pea Ridge Medical Complex hosts open house
An open house was held on Wednesday at the Valley Health Pea Ridge Medical Complex.The complex has been open for several months and opened in multiple phases.Th
Dodgers capitalize on gift to even series with Padres
The first two games this season between the teams with the two best records in the National League West have been close, hard-fought battles going down to the wire. After not scoring in the series opener, the Dodgers found just enough offense on Tuesday and capitalized on an absolute gift from the most dominant closer […]
Faith-based disability home aid business opens in Liberty
It was a day filled with prayer, celebration, and emotion as a new faith-based disability home aid business officially opened its doors.
What was the World's Fair like in New Orleans? I covered it for the media in 1984.
New Orleans writer Errol Laborde was a member of the media when the fair opened. Here's what he remembered.
Perimenopause took me by surprise. That's exactly the problem.
Despite being proactive about my health, perimenopause was never discussed with me. So, when it happened, I couldn't identify it.
1 hurt in shooting at west Charlotte check cashing business
It happened just after midnight at the PLS Check Cashers on South Tryon Street at West Boulevard, officials said.
Sox offense, bullpen suffer jet lag in 6-1 setback
No late-inning heroics were destined on the road trip opener in Seattle
Carter Bryant helps Spurs steal Western Conference finals opener
Game one of the NBA Western Conference finals is in the books and it was an instant classic. The San Antonio Spurs stole game one against the Oklahoma City Thunder, in double overtime, 122-115 behind a 41-point, 24-rebound performance from Victor Wembanyama. OWembanyama’s performance will forever be talked about but what will be overlooked is […]
Reds' bullpen falters late in loss to surging Phillies.
The Phillies edged the Reds in a back-and-forth game at Citizens Bank Park in front of an engaged crowd of 40,065. Here's what happened.
What Flutter Entertainment (FLUT)'s Strong Q1, Leadership Shuffle and Buyback Completion Means For Shareholders
In early May 2026, Flutter Entertainment plc reported Q1 2026 revenue of US$4,304 million versus US$3,665 million a year earlier, alongside lower net income of US$218 million, refreshed full‑year revenue guidance, leadership changes at FanDuel and the international division, and completion of a US$1,241.88 million share buyback program. At the same time, stronger‑than‑anticipated Q1 operating performance, new FanDuel loyalty and product features, and a reconfigured management team sharpened...
Pacoima business owners say city cleared troubled street overrun by encampment after ABC7 probe
A street in Pacoima was long overrun with filth. That encampment, once dubbed the "Skid Row of the Valley," has now been cleared, and locals say it happened after they reached out to ABC7.
St. Luke’s University Health Network launches College of Health Sciences after decade of planning
Doors officially opened for students in the college’s summer session.
Scientists found stardust trapped in Antarctic ice. What could it tell us about our solar system?
"This dust can penetrate the shielding of the solar system and end up on Earth."
Crumbl Cookies Closes Chapel Hill Location After 3 Years In Business
The store, located in Suite 150 at 133 West Franklin St., first opened its doors in February of 2023. It was open for just over three years.
The minister of health of the Dominican Republic assumed the presidency of the 79th World Health Assembly
Geneva, May 18, 2026 (PAHO) – Dr. Víctor Atallah, Minister of Health of the Dominican Republic, assumed the presidency of the 79th World Health Assembly (WHA79) this Monday, as the World Health Organization’s (WHO) highest decision-making body opened in Geneva.According to WHO rules of procedure, the presidency rotates among the Organization’s six regions. This year, the Region of the Americas is responsible for leading the Assembly. It is the first time that the Dominican Republic has assumed the presidency of the World Health Assembly.
Did ‘Family Guy’ Just Have Its Best Season in Years?
What happened in the finale, Season 24, and will it return?
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.
World Health Assembly opens with focus on equity, resilience, and global health cooperation; Region of the Americas plays active role
Geneva, Switzerland, 18 May 2026 (PAHO) — The Seventy-ninth World Health Assembly (WHA79) opened today at the Palais des Nations, bringing together delegations from more than 190 countries to define global health priorities and advance discussions on some of the world’s most pressing health challenges.
Supreme Court ruling throws Alabama politics into turmoil
A renewed redistricting fight deepened uncertainty over election maps, voting rights and Republican divisions, underscoring Alabama’s outsized role in national political battles.
Bluffton sandwich shop named Palmetto State’s Small Business of the Year
A Bluffton sandwich shop was named South Carolina’s small business of the year. Opened 23 years ago, the local institution is known for its New York-style sandwiches.
Recap: What happened at OKC Thunder's Sunday, May 17 practice
Recap: What happened at Oklahoma City Thunder's Sunday, May 17 practice.
New business opens in Bluefield, celebrates with inaugural spring festival
Bluefield was certainly in bloom at the inaugural spring festival put on by Bella’s Tea & Coffee shop, a new business that officially opened on Bland Street with a ribbon cutting.
Full reopening of Hwy. 1 has business booming again along the Big Sur coast
From Cambria to Carmel, the region has seen a dramatic uptick in visitors, business activity and hotel occupancy since Highway 1 reopened after a three-year closure, Caltrans said.
Trailhead Cannabis dispensary is open for business
Trailhead Cannabis is a family-owned dispensary that opened in late April next to Highway 371 by Brainerd and is looking to break the stigma of cannabis use.
To Critics, Trump Remarks Reveal a Billionaire Out of Touch
The president has never pretended to be an ordinary American, but a recent “truth bomb” has opened him to criticism that he doesn’t grasp the economic strain of his war with Iran.
To Critics, Trump Remarks Reveal a Billionaire Out of Touch
The president has never pretended to be an ordinary American, but a recent “truth bomb” has opened him to criticism that he doesn’t grasp the economic strain of his war with Iran.
Now What? With Carbon Pricing Eroded and Pipeline Politics Advancing, Here Are the Pathways for Climate Success
At the end of a whirlwind week of news on carbon pricing and electricity strategy, capping a madcap year of pretty much non-stop, dramatic change, the word across much of Canada’s climate and energy transition community is that climate policy in this country has been shredded. Eviscerated. Hit with a sledgehammer by policy rollbacks that have pushed the country’s 2050 net zero target “well out of reach”. That means it’s never been more important to look for the rays of hope and glimmers of possibility. To glimpse the seeds of the next set of strategies to get Canada’s climate pollution under control and the country into the accelerating global dash away from fossil fuels. And then, once we’ve spotted those possibilities, get on with the hard, day-to-day slog of trying to make them a reality. Nothing takes away from the frustration and the deep disappointment so many climate and energy hawks are expressing, the sense of betrayal by the author of Value(s) and the former UN special envoy for climate action and finance. But we knew two things as the week drew to a close. We’re looking at the world as it most definitely is. And we don’t get to give up finding the pathways to confront climate change and deliver faster, deeper carbon cuts that leave no one else behind. So really, the first question we all have to ask ourselves is: What’s next? Subscribe All the Oxygen in the Room The outpouring of anger and grief over the carbon pricing deal between Prime Minister Mark Carney and Alberta Premier Danielle Smith has been absolutely understandable. So much of the climate community poured years, more than a decade, into dragging the current federal pricing regime across the finish line, then defending it from a deluge of three-syllable rhymes after the Trudeau government proved utterly incapable of delivering its own message. The policy foisted on us by neo-classical economists took up all the oxygen in the room, burned through years of climate response time that we won’t get back, while cornering climate hawks into the position that the best response to the crisis of our lifetimes is a new tax…in an era of historic anti-tax sentiment. I mean, really—what could possibly have gone wrong? Against that history, let’s appreciate columnist Max Fawcett’s point that even a modest carbon pricing agreement with a government as off-the-wall libertarian/conspiracist as Danielle Smith’s—those adjectives are mine, not Max’s—is a win worth savouring (as long as Smith keeps her promises for a change). But part of living in the world as it is (no, I’m not letting that go) is to be clear-headed about what we can and can’t control. And one thing we get to decide, after seeing this week’s carbon price festivities take up all the oxygen yet again, is whether we want to keep letting that happen. Particularly when success down that road depends on a factor that no one with a climate agenda can control or influence—a provincial carbon pricing mechanism that has been manipulated and eroded beyond its lowest possible denominator. Thankfully, that’s not the way it has to go. Not when we have so many other powerful, practical tools at our disposal, including the ones still available to us through this abominable Memorandum of Understanding (MOU) between Canada and Alberta. Tools In Our Toolbox When I started roughing out this list, I didn’t expect it to grow to nearly a dozen bullet points. It’s probably still incomplete. Some of the greatest hits in today’s climate solutions toolbox include: • No Carbon Capture, No Pipeline: On Friday, Prime Minister Mark Carney explicitly stated that there’s been no change to the MOU provision that there will be no West Coast pipeline without an industry commitment to build its massive, $16.5-billion carbon capture and storage (CCUS) hub in Northern Alberta, and vice versa. The two megaprojects were joined at the hip when the MOU was signed Nov. 27, and the implementation agreement this week affirmed that they still are. A parade of independent analysts have spent years pointing to the economic and technical flaws in CCUS, while the industry kept postponing its investment decision until it could arm-twist the government for more “clarity” (by which it meant even more lavish taxpayer subsidies) on the project. Now the industry itself is running away from the CCUS hub and insisting the pipeline should proceed without it, but Carney doesn’t seem to be budging from a central tenet of the MOU to which Smith has signed on. • No Subsidies, No Investors: Climate analysts and advocates have quite rightly been hammering away at Carney and his team, insisting that any new capacity the industry wants to build must proceed without new subsidies. The government has responded with a growing collection of funding and financing mechanisms for the very wide menu of industrial development and nation-building projects they say they want to take on, and that menu always includes fossil fuel infrastructure. But it’s hard to see how even the combined fiscal clout of the federal and supportive provincial governments will deliver the financial backing private investors would need when the business case for new fossil fuel development is evaporating before their eyes. Particularly when… • No Market, No Demand, No Investors: As our friend Markham Hislop at Energi Media (our apparently sleepless friend, given the massive volume of great material he’s been churning out) points out this morning, the biggest vulnerability in any pipeline deal is the assumption that Asian buyers will want the oil or liquefied natural ga that our fossil industry is so keen to send them. Hislop writes in part: Ottawa and Alberta are effectively betting that countries like China and India will continue increasing oil imports for decades as their economies grow and energy consumption rises. That assumption underpins the entire economic rationale for expanding oil sands production and building billions of dollars in new export infrastructure. But Asian energy systems are changing rapidly… China, India, South Korea, and other major hydrocarbon importers are now investing hundreds of billions of dollars into electricity systems built around wind, solar, batteries, nuclear, hydro, and expanded transmission infrastructure. Domestic “energy sovereignty” is increasingly replacing the old energy-security model based on stable oil and gas imports. Those investments are expected to sharply slow oil demand growth and eventually reverse it, even as overall energy consumption continues rising. There are also refining constraints. Many Asian refineries and petrochemical complexes are already optimized to process discounted heavy crude from the Middle East and Latin America. That raises serious questions about how much additional Canadian bitumen Asian markets can absorb at profitable prices. Small wonder that there’s still no private sector investor for the project, despite Smith’s government desperately beating the bushes to put together a deal. For now, Alberta is acting as proponent and covering early start-up costs for a pitch to the federal Major Projects Office, which could actually turn into the next tough hurdle for Smith and her pipeline to jump. • Canada Day Looms: How ironic that Canada’s birthday this year could become a major chokepoint for the provincial premier who’s been working so diligently to tear the country apart! The July 1 target date for Alberta’s pipeline proposal is baked into the MOU, was reaffirmed by the implementation plan, but it hadn’t dawned on me that it cuts both ways. As one very smart colleague wrote in an email yesterday, “they’ve thrown the ball into Alberta’s court to get the project proposal on the table really quickly and to have to do a whole pile of work to put together a massive, complicated project that would typically take years to assemble, and they’ve given them weeks to do it.” That makes July 1 a looming deadline that Smith won’t be able to run away from politically, especially with the separatists in her party and her caucus breathing down her neck. (See previous ref to off-the-wall.) But if Alberta comes in with a sloppy, incomplete submission, even after Carney bent over backwards to simplify the application process and the rules that govern it, it may be harder for the province or the industry to blame Ottawa and insist on the faster process they claim their investors are demanding. (Oh, wait—which investors would those be??) • We’ll See You In Court (Then We’ll See You Again): If Carney did cave, that would be just one more reason for Indigenous and other affected communities to take the government and the process to court—Just as Alberta First Nations did, successfully, in response to Smith’s half-baked separation referendum. Veterans of the Harper era have been warning that a shoddy process around fossil fuel infrastructure or other major projects will be a recipe for the very delays that process seeks to avoid. And now more than ever, with renewable energy and energy storage eating fossil fuels’ lunch in import markets around the world, a delayed pipeline or LNG terminal may be as good as a cancelled one. • Charged Up, Ready to Go: With its goal of doubling Canada’s electricity supply to meet a doubling of demand by 2050, the national electricity strategy that Carney unveiled Thursday has a lot to like. With its explicit language about speeding the shift from fuels to more efficient and affordable electricity, global investment and deployment patterns that already favour that shift, an emerging bidirectional power grid, the role of front-line options like rooftop solar and heat pumps, the emergence of electric vehicles as behind-the-meter energy storage, and the domestic jobs and manufacturing to make it all happen, the document doubles down on the essential cornerstone of a faster shift off fossil fuels. The strategy envisions a more prominent role for gas and nuclear power. But some of those provisions were already in the Clean Electricity Regulations that climate hawks are now fighting so hard to defend, inserted as a compromise in a futile attempt to mollify the industry and its political representatives in Alberta and Saskatchewan. But once again, gas will be a tougher sell when it’s more expensive and now so much more unpredictable than the clean alternatives. The new nuclear technologies are still speculative and deeply vulnerable to cost overruns. Increasingly, utilities, developers, and investors know it. Carney declared Thursday that “it doesn’t do us good to be sitting in court all the time with provinces. It doesn’t do us good to be talking past each other. What does do us good is to come together with specific projects.” There are no guarantees, but so much of the language and narrative-building in the electricity strategy suggests the lion’s share of those projects will be renewable. • The Party Has Already Started: The electricity strategy only rarely digs down to specific projects, but provinces representing three-quarters of Canada’s population are already embracing a faster transition. Hydro-Québec is working on a 10-year, $185-billion renewable energy and grid buildout by 2035. Ontario recently brought 10 provinces and territories together in a National Energy Corridor Agreement to boost interprovincial and -territorial transmission infrastructure. And the MOU implementation agreement commits Alberta to facilitate investment in renewable energy projects, a big step back from its continuing, punitive restrictions on renewables development. The electricity strategy envisions much of the financing and infrastructure that will be needed to pull those advances together into an integrated whole. • Delivering on Affordability: The MOU implementation plan has little or nothing to say about affordability (are you surprised?), but the electricity strategy does, with a top-line pledge to reduce home energy costs for seven out of 10 Canadian households by 2050, a total saving of $15 billion across the board. It’s just a start, but it puts affordability on the government’s narrative map. If they’re serious and deliberate about patching together a least-cost energy strategy, it’ll have little if any room for oil, gas, or nuclear—not with powerful evidence, for example, that electricity prices are higher when those prices are set by gas. • Smith Proves that Canada Works: By signing a deal that makes it harder to claim the federal government is blocking a new pipeline, Smith has helped prove Carney’s constant anti-separatist refrain that “Canada works”—incurring the rage, no doubt, of her own political base. Canada also needs to work for anyone who depends on a clean environment, healthy and thriving ecosystems, and safe, stable climate. But with Smith and her separatist constituents setting up as a fifth column for annexation by Donald Trump’s United States, let’s set aside any notion that 51st state status for Canada is a recipe for anything other than climate disaster (and so much else). Resisting and withstanding Trump (just 170 more sleeps until mid-term elections, which is a damn sight better than the 730 we started with) doesn’t mean a free pass for a pipeline, but we can still appreciate it that keeping Canada whole and sovereign is still Carney’s Job One. • The Words Not Spoken: Apart from a commitment to export a million barrels of “low-emission” Alberta bitumen per day (memo to Smith and Carney: You realize that that’s less than the industry is already exporting??), the MOU implementation plan says nothing about the international trade and economic sovereignty deals that Carney has been travelling the world to negotiate. It didn’t have to. Carney doesn’t need permission from Danielle Smith, her American enablers, or her separatist allies to continue building the alliances that will ratchet down our economic dependency on our unstable, unreliable neighbour to the south. But every connection he builds with countries outside North America helps align our economy and our future with a faster shift off fossil fuels. Little if any of this was on our bingo cards a year or two ago. But it’s the pathway that has opened up to us. And if it gives Canada any climate or energy gains at all in an era still dominated by Trump and his increasingly ridiculous tariffs, his loutish trade negotiations and his continuing annexation threats, we have to take the wins. Not least because they’ll be the point of departure for what we can achieve in 2027, 2029, and beyond, as Trump’s grip and this era begin to loosen and then fade. What is Carney Doing? If this line of thought is right—and it’s a possibility, not a prediction—it means that Carney’s actions and decisions are largely about buying time. Time for Trump’s power to wane. Time for Alberta’s separatist/conspiracist virus to spread, mutate, die out, or at least die back, with help from a vaccine of federal steadiness and calm (appropriate enough, for a movement populated largely by vaccine deniers) that no conspiracy theory can dismiss. And time for the government’s trade and investment agenda to deliver results—even knowing that some of those results will bring impacts that front-line communities will not and should not accept. In the immediate moment, none of this changes the way the wider climate community has to respond, from campaigners to investors to front-line practitioners. All of our voices are still essential. But those voices will be stronger and more confident if we have a clearer sense of the brutal game we’ve been pulled into, and a plausible path (or two it three) for playing it to the win we need. This conversation also underscores our biggest task for the remaining years of what was supposed to be the “decisive” decade for climate response: if we can shift the energy narrative in Canada, make it a mainstream view that the country’s preoccupation with oil and gas has us falling farther behind a changing world, we’ll see far better results in the 2030s and beyond. For many veteran climate advocates, taking on that part of the fight will begin with recognizing that most of our friends and family, neighbours and colleagues already understand that climate change is real and right in front of us: they’re looking away and staying silent because they don’t have what climate communicator Katharine Hayhoe calls “efficacy”. As Hayhoe recently pointed out in a feature interview with The Energy Mix, it amounts to science denial to keep hammering away at the dire news about global warming without also helping audiences understand what they can do about it, with multiple studies telling us why that won’t work. Far better to open those conversations with the dominant crises like energy security, food security, emergency preparedness and business continuity, affordability, and financial security that have knocked climate change far lower on the list of public priorities, and will likely keep it there. We Knew This Would Happen Climate hawks have always known this day would come. For decades, we warned that everyone had to pay attention to climate change right now, because it would be much tougher to respond once the crisis itself started affecting our daily lives. We were right, and here we are. But now, thanks to decades of hard work, communities and countries have an alternative to doubling down on fossil fuels. “In 10 years everyone will have ‘always known’ that solar and batteries were going to win,” Morgan Solar Executive Chair Mike Andrade writes on LinkedIn. With the disruption in the Strait of Hormuz roiling energy priorities around the world, Canada and the United States are among the shrinking number of countries that are still very keen on fossil fuel development. Understanding that gap is a first, essential step in spotting the opportunities ahead, and averting the deep economic as well as environmental and social risk we face if we don’t seize them. Thanks for reading The Energy Mix Weekender! Subscribe for free to receive new posts and support our work. Subscribe Mitchell Beer traces his background in renewable energy and energy efficiency back to 1977, in climate change to 1997. Now he and the rest of the Energy Mix team scan 1,200 news headlines a week to pull together The Energy Mix and The Energy Mix Weekender. Chart of the Week BYD Eyes 20 Dealership Locations After Canada Greenlights Chinese EV Imports ‘Sledgehammer’ Carbon Price Deal Boosts Emissions by 230Mt, Aims for Fall 2027 Pipeline Approval ‘Worse Than Harper’: Regulatory Rollback Would Stop Canada from Assessing Project Impacts, Critics Warn Electricity Strategy Aims for Doubling by 2050, Allows ‘Flexibility’ for Gas Power Plants Opposition Mounts as O’Leary’s Data Centre Approved in Drought-Stricken Utah Diluted Carbon Price Misses ‘Reality of the World We’re In’, Could Impede Diversified Trade: Climate Institute $200B in Clean Energy Investment Will Need On-Time Delivery, Reliable Policies, Trade Association Says ‘Sovereign Pipeline’: CEO Pitches to Keep Trans Mountain in Government Hands What a Supercharged El Niño Could Mean for Canada Canada’s future is electric, and here’s how a power grid superhighway would get us there (Toronto Star) The Perilous Waters of Hecate Strait (Globe and Mail) Saudi Aramco profits jump despite conflict in Middle East (The Guardian) Farmers confront rising cost of fertilizer and fuel as spring seeding under way (Canadian Broadcasting Corporation) Clarkson forecasts 24% decline in offshore oil, gas capital expenditures (Oil & Gas Journal) Pipe Dreams: How Oil and Gas Fail to Deliver Economic Development in Africa (Oil Change International) Developing countries must hold the pen to script the fossil fuel transition (Climate Home News) Iran war threatens the dream of a post-oil economy in the Gulf (Washington Post) U.S. Oil, Gas Work Force Hits Lowest Level Since 2022 (Rigzone) Why Polestar Is Doubling Down on Net Zero as Rivals Pull Back on EVs (Bloomberg) Why this Michigan utility plans to sell its hydro dams for $13 (E&E News/Politico) Levees can no longer save New Orleans (Vox)
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Antarctica’s sudden sea ice loss is one of the most extreme and confusing events in the modern climate record. Scientists now know why it's happening.
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Andrew Abbott leaned into some science to get his season back on track
Andrew Abbott locked in on the stick-figure graphic of himself. The world of biomechanics is very advanced. But with Abbott going through the worst rut of his big league career, he opened up to some new ideas to get himself back on track. He asked for some help, and he leaned into some sports science. He said the stick figures made it clear, and he credits biomechanics for helping him get his season back on track. Over his last three starts, he has allowed two total runs in 17 ⅔ innings. “There’s a photo of (me) last year and the year before on a graph, and this year is in a different color,” Abbott said. “You see where you are in comparison to that. Where the hands are at this moment, where your feet are, where the knee is, where your head is at, where your shoulders are at, it breaks it all down if you want it.” When Abbott saw his mechanics in this objective way, he recognized exactly what had been going wrong. “When my tempo, my feet and my hands are aligned, then normally my mechanics are sound,” Abbott said. “And when my mechanics are sound, my stuff behaves normally. The fastball is jumpy. I’m up in velo. My extension is better.” Abbott said that he started diving more into his biomechanics in the middle of April. The Reds have a biomechanics team, which works closely with pitching coach Derek Johnson and hitting coach Chris Valaika. Leading the group is biomecahnics manager Franky Mulloy. “I laugh every day,” Francona said. “When Franky starts talking, I start laughing. I remind him to know his audience.” Francona isn’t a scientist. The Reds’ manager jokes about his own comprehension of the data. But it’s easy for him to recognize the value that the biomechanics team is providing. “That’s why we got them,” Francona said. Abbott said that he had his first big biomechanics-oriented meeting in the middle of April. Behind the scenes, there was already a lot of communication going on within the Reds’ staff. “Franky calculates all the things, builds it into these graphs, and DJ gets them,” Abbott said. “They have their internal communication. Then, we go to them and ask what about this or that. The main thing for me is arm angle.” The data shows Abbott how his arm angle evolves from start to start. He hasn’t meant to change it. But just like all of us, our posture might be different from one day to the next. Pitchers’ arm angles can make minor shifts without the pitcher or even coaches noticing. But the data can’t miss a change like that. Abbott recognized that his arm angle had been moving around without him noticing. Now, he checks in with the data to make sure that his mechanics are in sync. “They get into these cool looking graphs,” Abbott said. “I can’t really describe them. I don’t know what they are. But for me, it’s a photo of a stick figure of myself.” The stick figure of his current positioning is superimposed over previous versions of himself. With that format, Abbott can compare his mechanics on any given day to what they were when he was pitching at his very best. “It was very noticeable from the moment I saw this year as black compared to two years ago and last year, it was very, very different,” Abbott said. “I could see with my eyes without having to ask any questions about the difference in the photos.” For any pitcher, there are a lot of moving pieces in your delivery. For Abbott to be the best version of himself, he needs his head, his arm, his hand, his knee and his feet to be on the right “tempo.” “Tempo is a word I’ve used a lot,” Abbott said. “Getting everything in certain areas working together.” He has been much better at that recently. The data backs that up, and so does Abbott’s ERA. The biomechanics data has also given the Reds’ staff and Abbott some better ideas for some training that he can do between starts. He has added drills to shore up areas of his body that Abbott needed to make stronger. “They make a plan based off what they see,” Abbott said. “If things start changing, we know what to revert back to.” Overall, Abbott says that he’s not a very analytical guy. There’s so much information out there, and he says that it’s important for him to not get too analytical when he breaks down his specific pitches. He has learned the value of being “analytical about mechanics.” And the way that the Reds presented that information to him made it easier for him to make the right adjustments without being overloaded by information. “It was a very simple fix,” Abbott said. “It took a long time to finally get there, feel the results and see it. But for the most part, it was very simple to apply it.”
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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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