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3 Reasons Why Steelers Offense Will Improve in 2026
2025 for the Pittsburgh Steelers offense couldn't have been more disappointing, but 2026 marks a new chapter and era with considerable improvements.
Use Tiny11 to Rescue a Computer Running Windows 10
If you can’t—or don’t want to—upgrade to full Windows 11, consider this lightweight version of Microsoft’s operating system that works on a wide range of computers.
Semiconductor decoupling. Powell's politics. Industrializing Ogaden. Free trade and the Magna Carta.
Thank you for opening your Chartbook email. Feliks Topolski, 1907-1989 8th Army’s Front, Italy 1944 Semiconductor decoupling Source: FT One thing that Jerome Powell deeply understood is that chairing the Fed under current conditions is a deeply political job. “Powell has successes and mistakes to his name. But he stands out as having thought more carefully about the Fed’s democratic legitimacy than any chair since Paul Volcker,” said Paul Tucker, a former deputy governor at the Bank of England, referring to the Fed chair who successfully fought the great inflation of the 1970s and early 1980s. … While Powell was at the Treasury in the early 1990s, he watched Alan Greenspan build relationships within the government. That convinced Powell he needed to follow the former Fed chair’s lead and spend more time in Congress than his predecessors Yellen and Bernanke. “The accountability for the Fed runs through Congress,” said Claudia Sahm, a former Fed official who is now chief economist at New Century Advisors. “That’s not just about having people on speed dial — it’s answering questions, explaining policy and getting feedback.” Source: FT Ethiopia’s PM Abiy and Nigerian business tycoon, with Chinese engineering, are driving industrialization in Ogaden/Somali region of Ethiopia. - Michael Masri’s reporting for Africa Report if fascinating. Ethiopia has launched a cluster of large industrial schemes in the Somali region, laying foundation stones for a urea plant and an oil refinery in Gode while opening the first two phases of the Ogaden LNG project. Abiy Ahmed framed the push as part of a broader strategy to link energy, agriculture and industry. “These projects embody more than industrial growth,” he said. “They represent our shared responsibility to harness opportunities, strengthen co-operation and promote peace.” The Gode urea plant, backed by Dangote Group and Ethiopian Investment Holdings (EIH), is designed for 3m tonnes a year. Dangote owns 60%, while EIH holds 40%. Officials say Dangote’s equity totals about $2.5bn, while the state provides land and implementation oversight. Gas from the Calub fields will be piped 108km to the site. Construction is slated for 40 months, with operations targeted for 2028. Ethiopia imports most of its fertiliser, spending more than $1.2bn a year for 1.5m–2m tonnes. Usage was roughly 1.7m tonnes in 2023, almost half of it urea, and demand for 2024–25 is put above 2.4m tonnes. If delivered on time, the Gode plant could cover domestic needs and allow exports to neighbours. Brook Taye, chief executive of EIH, called the venture “a significant milestone in the journey toward industrial self-sufficiency”. Dangote told the groundbreaking crowd that the complex would be integrated with gas supply and a polypropylene unit to support local inputs. He pointed to Ethiopia’s Grand Ethiopian Renaissance Dam (GERD), with a capacity of more than 5,000MW, and noted his group’s cement operations and expansion plans. The Gode refinery is being developed by Golden Concord Group of China. It is designed to process 3.5m tonnes a year of crude and condensate from the Hilala field, with associated storage. Backers say it will ease foreign-exchange pressure from fuel imports and anchor further industrial activity, including a proposed steel smelting site in Dire Dawa. GCL’s chair, Zhu Gongshan, cast the project as “a key step in Ethiopia’s path to energy sovereignty”, underscoring the Beijing–Addis ties. Financing details are still being finalised, but the refinery is central to the government’s energy-security narrative. Source: The Africa Report Dangote’s Ethiopian vision: Dangote began with cement. His crown jewel, Dangote Cement, dominates Nigeria’s market and has 10 operations in other nations in Africa. The formula has been consistent: identify sectors with chronic shortages – cement, fertiliser, sugar – commit massive local investments, and scale up to serve regional demand. Ethiopia was a natural extension of that model. In 2015, Dangote launched the Mugher Cement Plant outside Addis Ababa at a cost of $600m, with an annual capacity of 2.5 million tonnes. The investment gave him a firm foothold in one of Africa’s fastest-growing construction markets. But success came with risks. In May 2018, violent unrest led to the killing of Dangote’s country manager and temporary shutdowns at Mugher. While other investors might have retreated, Dangote doubled down. Today, he is preparing to spend $400m to expand Mugher’s capacity to 5 million tonnes, alongside a new grinding unit near Addis Ababa. Cement is just one market Dangote is targeting. Ethiopia’s enormous state-controlled sugar industry, long plagued by inefficiency and debt, has struggled for years to reform. Its Omo Kuraz Sugar Development Project, touted as one of the continent’s largest initiatives, continues to face delays and mismanagement. … The most ambitious venture of all is the planned fertiliser production complex in Gode, Somali region. Publicised on 28 August 2025, the Dangote Group and Ethiopian Investment Holdings (EIH) deal plans one of the world’s largest single-site urea manufacturing plants. The project costs an estimated $2.5bn and has an estimated capacity of 3 million metric tonnes annually, a rate that would not only render Ethiopia independent, but even a net exporter of fertiliser. EIH, the state wealth fund of Ethiopia, will hold 40%, while 60% is held by Dangote Group. … For Dangote, Ethiopia is a trifecta: Cement demand is projected to grow by 10% annually, its sugar consumption is growing with rapid urbanisation, and fertiliser demand is all but insatiable, given that farming supports the livelihood of 70% of Ethiopians. Source: The Africa Report The stakes for Abiy are high: For Addis Ababa, the $4bn fertiliser project in Ethiopia’s Somali region is no longer simply a manufacturing investment. It is increasingly being framed as a strategic state project tied to food sovereignty, import substitution and the government’s broader attempt to build economic resilience under mounting fiscal pressure. “Becoming self-sufficient in food is our main agenda,” Abiy says during the visit. “Land is needed; we have it. Water is needed; we have it. Human resources are needed; we have it.” The scale is enormous even by African industrial standards. Once operational, the plant is expected to produce three million metric tonnes of urea annually, potentially making it one of the continent’s largest fertiliser complexes. Ethiopian officials say the project now includes a 110km gas pipeline, a 120MW power plant, a polypropylene packaging facility and a two-million-tonne NPK blending plant. For a government grappling with chronic foreign exchange shortages, ballooning import bills and pressure on agricultural productivity, the numbers matter politically as much as they do economically. The decision to anchor the project in Gode is deliberate. Long viewed as peripheral to Ethiopia’s industrial economy, the Somali region is now being repositioned by the federal government as a future irrigation and agro-industrial corridor. Officials argue that the area’s vast land reserves and access to water could eventually support large-scale commercial farming capable of reshaping Ethiopia’s food economy. The government is simultaneously building housing infrastructure for about 5,000 residents near the plant, while officials project broader industrial expansion along the corridor. Abiy goes further, comparing the long-term revenue potential of the Gode development zone with Ethiopia’s flagship state enterprise. “The investments we are making in this Gode area, combined, will generate high revenue for Ethiopia, at par with Ethiopian Airlines,” he says. Source: The Africa Report Feliks Topolski 1907-1982 Topolski’s Chronicle, ‘Nazi Revival’, Vol. 8, Is. 1-2, 1960 HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. Photo by Jakub Dziubak on Unsplash If you are persuaded to click, please consider the annual subscription of $50. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe Grim vision of drone warfare by Sylvie Kaufmann For contributing subscribers only. Subscribe The state of the art in Colbert-studies. Jean-Baptiste Colbert was Louis XIV chief minister from 1661 to 1683 and traditionally seen as an architect of absolutism and mercantilism. Alexander Hamilton later cited him as an inspiration in 1782. Now his legacy is disputed. Daniel Dessert, the chief critic, sees Colbert as the orchestrator not so much of an absolutist state as of an elite cabal. Would be great to have a good English-language review of this important debate. Source: lhistoire Didn’t know that the Magna Carta included free trade provisions Fighting for the right to the beach in Oregon in 1967: Source: Research Gate RAF Station – British and Polish Flags, c. 1940-45, The Ingram Collection Feliks Topolski, 1907-1989 ink and wash If you’ve scrolled this far, you know you want to click: Subscribe
She learned AI coding at 73 — and to not fear pressing 'enter'
Carol Merlo wanted to build her own website without Weebly or Wix. She asked her son, Kevin Masterson, to help.
California's Age Verification Law May End Up Exempting Most Linux Distributions
While not as good as repealing AB 1043 outright for requiring operating system providers to ask for a user's age or birth date at device setup, open-source Linux distributions and other open-source OSes may end up seeing some reprieve before this law goes into effect at the start of 2027.
Economy to see negative growth shock, sticky inflation, JPMorgan warns
JPMorgan sees core inflation sticking around 3% globally. It could eventually cool, but only after the economy feels the negative impacts on growth.
Destiny 3 Petition Shatters Marathon's Peak Player Count
In a bid to save Destiny, fans have rallied behind a Destiny 3 petition, and it's accrued more signatures than Marathon's peak player count.
Why were GOP Knox County commissioners so fired up? Consider the timing
Knox News exclusively revealed a tense exchange between Republican Knox County commissioners. The texts came hours after a tension-filled meeting.
Employees are planning to call out sick, skip work to watch World Cup
Employees are planning to call in sick or take time off to watch the 2026 World Cup. It could cost companies billions in lost productivity.
Inside Europe's tech startup surge that's being boosted by AI
European startups like Legora and Lovable are challenging US tech dominance, driven by AI advancements and better access to VC funding.
Trade Target: Red Wings’ Center Problem Needs Attention
The post Trade Target: Red Wings’ Center Problem Needs Attention appeared first on Detroit Hockey Now. Arguably, the Detroit Red Wings possess the deepest pool of goaltending prospects in the NHL. In future considerations, the team […] The post Trade Target: Red Wings’ Center Problem Needs Attention appeared first on Detroit Hockey Now.
Schneider Electric sees India data center business outpacing core growth on AI boom
Schneider Electric expects its India data center business to outpace broader operations in the country over the next four to five years, driven by surging demand for AI-ready infrastructure, according to a senior executive.
Schneider Electric sees India data center business outpacing core growth on AI boom
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
Ukrainians say Italian tank gun hit house 120 football fields away
The gunner of the Italian B1 Centauro said the tank gun, fired like artillery, had struck the building nearly seven miles away.
What to Stream: Paul McCartney, John Travolta, Tina Fey, Latto and Nicolas Cage as Spider-Man
Paul McCartney reflecting on the “Days We Left Behind” with his 18th studio album and John Travolta writing, directing and narrating an ode to the glamorous days of 1960s air travel are some of the new television, films, music and...
Silicon Valley takes its AI pitch to Pope Leo
As Leo XIV prepares his first encyclical, tech firms and Western diplomats have worked to make their case for AI inside the Vatican.
Jardine to Buy Australian Imaging Firm I-MED in $2.4 Bilion Deal
Jardine Matheson Holdings Ltd. agreed to buy Australian medical diagnostic imaging provider I-MED Radiology Network Ltd. from private equity firm Permira, as the Asia-focused conglomerate seeks to expand its portfolio.
CBA Captures 9th Shore Conference Baseball Tournament Title
LAKEWOOD — CBA defeated Rumson-Fair Haven 12-0 in six innings behind eight strikeouts and only two hits and one walk allowed from senior pitcher Dan Pardini to capture its ninth Shore Conference Tournament title. Check back later tonight for championship photos and the full game story.
I'm a product manager who used Claude to build a postcard business
Priscilla Tina, a product manager in San Francisco, used Claude to create a postcard app. She said it's made her a fun bit of cash on the side.
Las Vegas Raiders quarterback Fernando Mendoza graduates from Cal's Haas School of Business
Las Vegas Raiders' quarterback Fernando Mendoza has added another chapter to his storybook year - a graduate of U.C. Berkeley's Haas School of Business. Mendoza completed his bachelor's degree in business administration and management in his three years at Cal before transferring to Indiana last year.
More to consider: Current events through the lens of religion and science - Lutheran Alliance for Faith, Science and Technology
Three areas where faith and science are meeting in 2026: AI's rise and impact, climate care, and end-of-life decisions.
Raiders Unveil Plans for Second-Year Running Back Ashton Jeanty
Las Vegas Raiders head coach Klint Kubiak revealed the team's plans for second-year running back Ashton Jeanty in 2026.
Memorial Day gas prices are the highest in years
AAA said Memorial Day weekend gas prices are the highest they've been in four years.
Capitals beat KKR as IPL regular season concludes
Delhi Capitals completed a 40-run win over Kolkata Knight Riders to move above their opponents in the final standings of the Indian Premier League. Having scored 203-5 in their innings, Capitals bowled out KKR for 163 to move sixth in the table. KKR had seen their play-off hopes snuffed out by Rajasthan Royals' victory over Mumbai Indians earlier in the day, and they were outplayed at Eden Gardens.
CVS Health (CVS) Price Target Boosted by $8 at Mizuho
With an annual dividend yield of 2.84%, CVS Health Corporation (NYSE:CVS) is included among the 12 Best Dividend Stocks to Invest in According to Hedge Funds. America’s leading health solutions company, CVS Health Corporation (NYSE:CVS) provides advanced health care from pharmacy services and health plans to health and wellness. On May 20, Mizuho bumped up its price […]
Sundar Pichai says booing graduates will live with AI's consequences
As commencement speakers face restless crowds of new graduates, Google CEO Sundar Pichai says he's ready for his turn at Stanford next month.
Former Sixers' star among names excluded from front office search
Andre Iguodala won't be considered for Philadelphia's search for a new general manager.
We left California for Texas. It wasn't worth it, so we're moving back.
Guadalupe Galindo-Nevarez and her family moved from California to Texas for a fresh start, but high heat and property taxes pushed them to leave.
Hoping to stream the Indy 500? Here are some of the best ways to watch the race
The Indy 500 kicks off soon, and we'll show you how to watch the race from anywhere.
Best family meals at Costco, according to executive Costco member
My favorite premade meals at Costco for a quick, easy family dinner range from frozen Kirkland Signature salmon to refrigerated proteins and kits.
How a man transformed his tool shed into a man cave and cigar lounge
Tyler Graham said his old tool shed was always "a disaster." He decided to transform the space into a man cave where he can enjoy whiskey and cigars.
I'm a mom, and I went on a 3-day trip with no WiFi at the worst time
I went on a 3-day trip without WiFi designed to unplug. It was a bad time to do it — we were negotiating an offer on a house, and my son got sick.
Traveling and living in a van alone has been better than I expected
The thought of traveling and living in a van alone scared me, but solo van life has been better than I expected because of the kindness of strangers.
A Pentagon test group is eyeing ballistic ballcaps for troops
The protective hats could shield service members facing threats in places where patrol caps, not helmets, are the norm.
Amtrak California Zephyr journey: What I'd do differently next time
I took Amtrak's California Zephyr train from Chicago to Emeryville, California. I booked a $2,200 bedroom for the 53-hour journey.
Samsung to use Galaxy Z Fold 8 and Z Fold 8 Ultra branding for upcoming foldable lineup
The Galaxy Z Fold 8 Ultra will be the direct successor to the Galaxy Z Fold 7, while the Fold 8 name is going to a new, wider model.
Manchester United ‘best placed’ to sign AC Milan winger
Manchester United are ‘best placed’ to sign Rafael Leao from AC Milan with the Italian side open to his sale this summer.Milan are understood to be ready to consider proposals of around €50m (£...
Illinois lawmakers consider grants or loans for Chicago businesses devastated by Operation Midway Blitz
Six months after Operation Midway Blitz, lawmakers are considering if and how to support businesses who struggled financially due to the federal government’s incursion into Chicago.
Illinois lawmakers consider grants or loans for Chicago businesses devastated by Operation Midway Blitz
SPRINGFIELD — When federal immigration officers flooded Chicago neighborhoods last fall, walk-ins at Erick Camargo’s hair salon in Chicago plunged from about 40 customers per day to as few as five. At...
McKinsey is using an AI tool to let candidates practice interviews
McKinsey has built an AI tool to help candidates prepare for their interviews, and discourage them from using external prep services.
I teach wealth management. Avoid these spending traps to save money.
Eton Solutions CEO Rob Mallernee, who teaches private wealth management, has advice for saving money. It starts with reconsidering that $4 coffee.
We quit our jobs to take a first retirement from a sailboat
Though their careers at Amazon and Business Insider were on the upswing, Bianca Chan and Charles Boddie quit their jobs to travel and have no regrets.
Trot My Tot profile
Scott Klipper, 39, vibe coded Trot My Tot, a platform where parents can find short-term nannies for one-off gigs.
Savings tips from early retirees, financially independent individuals
Savvy savers say the goal isn't necessarily to cut out every small pleasure. It's to be more intentional about where your money is going.
Private jet travel boom: Where and how the wealthy are flying
Private jet usage is exploding and is reshaping luxury travel trends, from $80 million aircraft to billionaires' habits.
What will people remember about you after you die? Thinking about your legacy now could be good for you
Research shows that considering how we will be remembered when we die can help us improve our mental health and find more meaning during our lives – including if we are still young.
Here are the remaining sub-$25k cars as cheap models vanish
There are only a handful of low-cost cars available on the US market. Business Insider compiled the 10 cheapest starting prices in America.
Vinted wants to be America's next shopping addiction
Vinted has seen sales in Europe surge year-on-year, It's now trying to recreate that success in the US.
AI's COVID shutdown moment: SpaceX IPO, Anthropic, OpenAI, Nvidia
From SpaceX's IPO to Anthropic's massive revenue number, it looks like AI just had the day when the hype became real.
Health and safety concerns of chemical tank emergency in Garden Grove
Elaine Bernal, a chemistry and biochemistry lecturer at California State University, Long Beach, discusses the ideas firefighters could be considering to find a solution.
Students cheer Jeremy Scott for ripping up his AI commencement speech
Fashion designer Jeremy Scott told graduates that AI can't replicate their humanity during a commencement speech at the Kansas City Art Institute.
Seahawks rumor reveals trade candidate in 2023 draft pick
John Schneider might have a trade coming in the future with this 2023 draft pick.
Nickel cornerback a vital position for Raiders’ defense
Taron Johnson’s impasse one to watch, but Las Vegas has options like second-round pick Treydan Stukes shifting from safety
New Raiders coach's wild 5-word Brock Bowers description
Las Vegas Raiders head coach Klint Kubiak gave a complementary five-word description of former Georgia Bulldogs tight end Brock Bowers.
What to know about sepsis: Life-threatening but hard to spot
Consider sepsis an invisible threat. It kills about 350,000 Americans a year and may cause nearly one-fifth of deaths globally. But you won’t find it on any “leading causes of death” lists.
Baystate Health hosts emergency preparedness sessions for EMTs
The event brought together EMS professionals and healthcare providers for hands-on learning.
Health Alert: U.S. Embassy in Rwanda (May 23, 2026) - U.S. Embassy in Rwanda
Health Alert: U.S. Embassy in Rwanda (May 23, 2026) Health Alert: U.S. Embassy in Rwanda (May 23, 2026) Location: Rwanda, countrywide Event: Entry and Exit Requirements Due to the Ebola outbreak, Rwanda has implemented new entry and exit requirements. On May 22, 2026, the Ministry of Health of Rwanda announced that all foreign nationals who have traveled to, or transited through, the Democratic Republic of the Congo (DRC) within 30 days of their travel to Rwanda will be denied entry. Rwandan nationals and foreign residents with valid proof of residency in Rwanda can enter and are subject to mandatory quarantine procedures. Travel to the U.S. Review the U.S. Centers for Disease Control and Prevention (CDC) information on what travelers need to know about returning to the United States from DRC, Uganda, and South Sudan. Actions to Take: Do not travel to the Democratic Republic of Congo (DRC). Monitor the Ministry of Health of Rwanda webpage for local updates. If you are planning to travel to the United States, contact your airline to confirm your flight and route. Review the CDC webpage on the Ebola Current Situation. Review Consular Information for Americans Regarding the Ebola Outbreak. Review the CBP webpage for information on entry restrictions Notify friends and family of your safety. Have a plan to depart in case of emergency. Have travel documents up to date and easily accessible. Review the CDC Travelers’ Health Page for Rwanda. Continue to take malaria prophylaxis as recommended, as the symptoms of malaria can mimic symptoms of Ebola, leading to preventable health scares. Monitor your health for 21 days following travel in an area with an Ebola outbreak. If at risk for Ebola, alert your healthcare provider if you are experiencing symptoms consistent with Ebola to receive guidance prior to presenting for care. Review the Department of State’s Rwanda Travel Advisory for general health information. Refer to the U.S. Embassy’s list of medical providers. Check with your travel insurance provider about medical evacuation options should you fall ill while overseas. Enroll in the Smart Traveler Enrollment Program (STEP) to receive safety and security updates. Assistance: U.S. Embassy Kigali, Rwanda 30 KG 7 Avenue (Kacyiru) +250-252-596-400 ACSKigali@state.gov https://rw.usembassy.gov State Department – Consular Affairs 888-407-4747 or 202-501-4444 Rwanda Country Information Enroll in Smart Traveler Enrollment Program (STEP) to receive security updates. Follow us on Facebook and X
Can the new tubeless Chilipad 2.0 finally end your night sweats? Our first impressions of the $3,000 bed cooling system
I tested the Chilipad 2.0 mattress topper for a week. Its active cooling and comfortable design impressed me, but it lacks sleep tracking.
Gazette, Centennial Institute cosponsoring Republican gubernatorial debate Tuesday
The Gazette and the Centennial Institute are cosponsoring a Republican gubernatorial debate Tuesday at Colorado Christian University, featuring candidates state Rep. Scott Bottoms, a Colorado Springs pastor, and longtime GOP insider state Sen. Barb Kirkmeyer. Candidates will field questions on major issues facing Colorado, including the economy, crime/public safety, state budget/TABOR, energy, infrastructure and affordability. […]
Denver Gazette, Centennial Institute cosponsoring Republican gubernatorial debate Tuesday
The Gazette The Denver Gazette and the Centennial Institute are cosponsoring a Republican gubernatorial debate Tuesday at Colorado Christian University, featuring candidates Scott Bottoms, a Colorado Springs pastor, and longtime GOP insider Barb Kirkmeyer. Candidates will field questions on major issues facing Colorado, including the economy, crime/public safety, state budget/TABOR, energy, infrastructure, and affordability. The […]
Why big brands are turning to vanilla from Uganda
Vanilla is so valuable that it's been called "green gold." Uganda is quickly emerging as vanilla's next big player.
New York Rangers report cards: Grading trade candidates Trocheck, Schneider
Vincent Trocheck and Braden Schneider head into this offseason with one thing most definitely in common: their future with the […]
Review: Best hot dog brand for a Memorial Day cookout
Applegate's organic hot dogs had the best savory flavor and snap, making it my choice for Memorial Day cookouts.
Unusual stars may be the leftovers of ancient galaxy gobbled up by the Milky Way
Unusual stellar remnants suggest the Milky Way might have eaten a galaxy called Loki billions of years ago, according to new research.
Bond breakout? Big effects of bad data. Immigration and thermostatic politics & dad-chat is coming for dad-books.
Thank you for opening your Chartbook email. Anna Airy, A Shell Forge at a National Projectile Factory, Hackney Marshes, London, 1918 Bond breakout - John Authers Across the developed markets, bond markets are staging a slow-motion car wreck. Looking at the drastic moves in the US, Japan, the UK and France, Barclays’ Ajay Rajadhyaksha commented: “Last week, long bonds broke. Not in one country. In all of them. Simultaneously. Four countries. Four different political systems. Four different central banks. But the same trade — “get me out of duration!”” Each country has its own contributing political problems, but the uniformity of the shift out of long-term bonds with high duration makes clear that something broader is afoot. For Rajadhyaksha, it is “simple and uncomfortable.” The developed world “has too much debt, too little fiscal discipline, and no political appetite for fixing either.” If there’s a trigger, it has been the Iran war and the resulting shock to oil supply. Source: Bloomberg G7 countries are now borrowing at rates that were enjoyed by EM in the early 2020s For contributing subscribers only. Subscribe Trade between China and Russia has grown in recent years For contributing subscribers only. Subscribe Big effects of bad data A decade ago nearly nine in ten Americans, when approached, agreed to fill out the Current Population Survey, which is administered to about 60,000 households each month and asks about, among other things, employment. Fewer than seven in ten do so now (see chart 1). For the Consumer Expenditure Survey, which tries to capture 3,700 households monthly, the response rate is down from 68% to 40%. … When the information becomes less reliable, investment decisions get more difficult to make. Some may be delayed, creating a potential drag on the economy. A new working paper by Nicholas Bloom of Stanford University, Erica Groshen, former head of the Bureau of Labour Statistics (BLS) now at Cornell University, and Duncan Hobbs and Michael Strain of the American Enterprise Institute, a think-tank, hazards an estimate. Preserving trust in “the integrity and quality of official statistics”, the authors claim, generates economic benefits of about $25 for every $1 spent on the BLS, the agency with an annual budget of $700m that is responsible for many of these data. To arrive at their conclusion the quartet analysed an ignoble episode in the BLS’s recent history. On August 1st 2025 Donald Trump sacked Erika McEntarfer, appointed as the agency’s commissioner by his predecessor, Joe Biden. The president alleged, without evidence, that the BLS’s steep downward revision to recent jobs numbers had been “RIGGED in order to make the Republicans, and ME, look bad”. In fact, it was the wanton dismissal that looked bad in the eyes of many observers. In the following seven days there was a 50% leap, relative to the week before, in the average value of the index of Economic Policy Uncertainty (EPU), which tracks the number of articles mentioning such uncertainty that are published daily in American newspapers. This was a discernible jump even when compared to the chaos caused by Mr Trump’s trade war in April 2025 and his real one in Iran in the past two months (see chart 2). Based on Mr Bloom’s earlier study with other colleagues of the EPU’s impact on business investment, industrial production and employment, the authors estimate that the jump reduced American GDP by over $100bn (0.3%) and non-farm payrolls by 168,000 (0.1%). Source: The Economist Immigration and thermostatic politics (Sarah O’Connor in the FT) A strange thing happened a year and a half ago. No sooner had Americans elected Donald Trump as president on an explicitly anti-immigration platform than US public opinion began to swing much more favourably towards immigration. … to political scientists who study “thermostatic” politics, this development is no surprise at all. Public opinion often moves against the prevailing party, especially if they are perceived to have gone “too far” in one direction. The phenomenon was first explored in the 1990s with reference to fiscal policy, but in recent years it has been particularly evident in the realm of immigration policy. While these swings in opinion polls can make it seem as if people don’t know their own minds, they can be a useful democratic check on governments by sending bright flashing warning lights when policies stray too far from the public’s comfort zone. The problem comes when politicians misinterpret those signals. When people tell pollsters they want less immigration, or think it is bad for the country overall (or the converse), they are often expressing an opinion about how things appear to be going in that moment relative to their preferences, rather than a deep shift in their underlying views. According to Alexander Kustov, a political scientist, most Americans’ views are quite stable and moderate: they support immigration that is controlled and in the national interest, and oppose flows that are disorderly or under-enforced. In the US, he argues the Trump administration over-interpreted dissatisfaction with high immigration under Joe Biden, and implemented policies that went too far for many voters. “People don’t necessarily change their idea about their ideal immigration policy, but they can react to what the government is currently doing,” he told me. “A lot of people are not happy with what the Trump administration are doing — right now we’re not talking about border enforcement, we’re talking about people not just getting harassed, but killed.” But similarly, he added, pro-immigration advocates would be making a mistake to interpret the recent, more favourable swing towards immigration as a deep-seated ideological shift in attitudes. The recent history of UK immigration policy offers another cautionary tale. After the 2016 Brexit referendum, public concern about immigration fell. This was partly because net migration statistics declined, but also because people felt a sense of catharsis and control, says Sunder Katwala, director of British Future, a think-tank. By 2019, the public ranked immigration as only the ninth biggest issue of concern, according to Ipsos polling. But when the Conservative government liberalised visa routes for students and care workers between 2019 and 2022, that helped net migration to surge. And so, too, did public concern. Today’s Labour government has implemented another sharply restrictive turn in immigration policy. As Kustov and researcher Caitlyn Yates argue, thermostatic public opinion should be a useful check on politicians. Instead it seems to have helped to magnify the pendulum swing in the UK. The government over-interprets and overreacts to a change in public opinion, which reacts in turn, prompting a sudden swing the other way. Source: Financial Times HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. If you are persuaded to click, please consider the annual subscription of $50. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe Anna Airy, Shop for Machining 15-Inch Shells: Singer Manufacturing Company, Clydebank, Glasgow, 1918 Racing for a vaccine … we have been here before! The deadly Ebola outbreak in two African countries driven by a virus species with no vaccine has triggered an urgent search for a potential jab, in a test of troubled global efforts to avert threats posed by emerging diseases. A World Health Organization advisory group is due to would meet on Tuesday to recommend candidate jabs to prioritise for clinical trials, the global health body said. It will assess data including an analysis by the Coalition for Epidemic Preparedness Innovations (Cepi), which was set up after failures in the international response to a previous Ebola crisis. The latest Ebola outbreak in Democratic Republic of Congo and Uganda has infected hundreds of people and killed more than 80, health authorities say. Cepi’s reaction will be a crucial indicator of its progress towards its wider goal of producing vaccines for pandemic threats in just 100 days, despite steep cuts to international health funding. “If there was ever a time that we could show the world why Cepi is needed and show the world why the 100-day mission is needed, it’s now,” Nicole Lurie, the organisation’s executive director for preparedness and response, told the FT. “We’re happy to accept that responsibility, but obviously we need help from partners — particularly financial help in the long run.” DR Congo and Uganda would make the final decision on whether to press ahead with any vaccine candidates endorsed for clinical trials by the WHO experts, the global health body said. “Other ethical and community acceptability issues will be considered,” said the WHO, which declared the latest outbreak a public health emergency of international concern on Sunday. “This will be important to make sure that the trial, if it happens, will be adequately communicated to the population.” Lurie said Cepi had provided information from a survey of research teams and companies working on drugs that might be effective against the Bundibugyo virus behind the outbreak. The organisation hoped soon to announce partners in the quest for a jab, she added, although she declined to give a timescale for when one might be developed. Cepi’s Nicole Laurie said global health bodies were ‘getting some live-fire drills’ with hantavirus and the latest Ebola outbreak. The hunt for a vaccine should be helped by scientific advances including the use of artificial intelligence to find drugs active against viruses, Lurie said. Existing jabs against the Zaire Ebola virus responsible for many previous outbreaks might provide a basis for tackling the Bundibugyo species, she added. “We’ll see how far and how fast we can get,” Lurie said, adding that Cepi had done preliminary work recently on a possible jab for the rat-borne hantavirus responsible for a recent fatal outbreak on a cruise ship. “Both with hantavirus and now with Ebola, [we] are getting some live-fire drills.” Source: Michael Peel in the Financial Times Dad-chat is coming for dad-books. (By Pamela Paul and Jeffrey A. Trachtenberg in the WSJ) They were the go-to gifts for Father’s Day: a book about some little-known chapter of World War II, the sweeping narrative of a shipwreck, perhaps the latest presidential biography. These days, dad books are a dying breed. Nonfiction book sales have been in decline for the past four years, and are now the most challenged segment of the print book market. Publishers say certain types of books still fare well—including celebrity memoirs and religious titles. But in recent years, print sales in such categories as biography, current affairs and business and economics—what publishers refer to as “serious nonfiction” and which tend to resonate especially with men—have fallen considerably. Sales of nonfiction print titles were down nearly 8% through May 9 this year, and sales of books about politics and current affairs were down 19%, according to book tracker Circana BookScan. Publishing has long been subject to cyclical changes, with trends in format and genre taking over bookshelves in grand sweeps. (Remember the adult coloring-book craze? Or the stratospheric rise of romantasy?) But many in publishing believe the decline in serious nonfiction is more existential. “The trend couldn’t be clearer,” said Jonathan Karp, the former chief executive of Simon & Schuster and publisher of the new Simon Six imprint. “This is a sea change and people should wake up and realize we’re living in a new world.” One culprit for the shift: a new media diet for fans of more serious nonfiction. … Sixty-two percent of men and 54% of women consumed a podcast in the prior month, according to a recent survey by Edison Research at SSRS, up from 46% and 39%, respectively, in 2023. “When we have internal meetings to talk about this problem, it always comes around to podcasts,” said Jonathan Burnham, president and publisher of the Harper Group at HarperCollins Publishers. “The man who wants to read American history is now tuning into one of the many good podcasts about history that lends the quiet attention to a serious subject he’s looking for. It makes the idea of sitting down with a 700-page Ron Chernow book less appealing. You’ve scratched that itch.” Source: Wall Street Journal Remarkable report by Novara from the nationalist rally in London in mid May. Anna Airy, Leopard Moth and Plums, 1915 If you’ve scrolled this far, you know you want to click: Subscribe
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