The turmoil in the AI industry is further complicating the Fed’s upcoming decision on interest rates.
Treasury Department
Posted inEconomic Policy
Why Scott Bessent Can’t Fix the Bond Market
Every Trump lackey must indulge his whims, no matter how stupid.
Posted inTAP
How the Cost of Money Spikes Inflation
Government borrowing costs are going through the roof—and so are yours and mine.
Posted inTAP
Trump Makes Crime Legal
If you’re a liberal activist or union member, the Trump administration wants to know everything about you. But if you’re a foreign oligarch laundering money, you can count on it looking the other way.
Posted inMoney, Politics, and Power
Sen. Wyden Report: Banks Systematically Ignored Jeffrey Epstein’s Crimes
The report shows how employees at Bank of America, Deutsche Bank, and JPMorgan helped to hide Epstein’s activities because he was a load-bearing part of their ‘wall of cash.’
Posted inTechnology
The Great AI Repricing Isn’t Going Well
Companies are backing off on their AI spending. Because investors have made such big bets on AI coming to fruition, that’s a big problem.
Posted inNewsletters
More Sneak Attacks on Social Security
In his campaign for president, Trump promised to protect Social Security and Medicare. On paper, Social Security, which has its own revenue sources via payroll taxes and trust funds, is protected from both the budget cuts of Trump’s One Big Beautiful Bill and from the impact of the government shutdown. But Trump keeps trying to […]
Posted inEconomic Policy
How Scott Bessent Enables Oligarchy
After the attacks of September 11, 2001, the government began cracking down on hidden transfers of wealth. The purpose was to prevent money laundering that might finance terrorism. Some of this was codified in the USA PATRIOT Act. After the financial collapse of 2008, other safeguards were added. All this strengthened the Treasury Department’s Financial Crimes Enforcement […]
Posted inEnergy and the Environment
Trump Vows to Create More Blackouts
Side agreements with the House Freedom Caucus will make most clean-energy projects unviable and leave the U.S. with not enough power to meet demand.
Posted inTAP
Hijacking the Fed
Today on TAP: Trump may succeed in isolating Federal Reserve Chair Jay Powell and taking over the Fed himself, but the result would crash the economy.