Lenore Palladino

This is a major development. The American Economic Association (AEA) and the National Bureau of Economic Research (NBER) are the most powerful groups of economists in the world.

more seriously, the proposed move is actually very interesting.

first, exxon doesn't have a controlling shareholder, which means it needs the approval of blackrock/vanguard, etc - normie institutional investors.

ERS Texas temporarily bans private markets offerings in defined contribution plan ERS Texas stated that while current offerings did not meet their standard for inclusion, the pension would continue to review them down the line. Alfie Crooks15 hours ago Employees’ Retirement System of Texas has formalized concerns with private markets assets in defined contribution plans, stating that they “did not meet the standard for inclusion” in its own investment options. The pension system, which met for its board meeting on March 4, elected to amend its investment policy to prohibit the inclusion of private markets in its DC plan, while also stating that it would continue to monitor the offerings. Buyouts listened to a live broadcast of the meeting.

www.buyoutsinsider.com/ers-texas-te...

Hello Tariffs, My Old Friend A distraction from the oil shock

new edition of Forces of Production out today. we use the tariffs to talk about the input-output tables, then take a look at the monthly numbers. next month's, I bet, will be about oil

www.forcesofproduction.com/p/hello-tari...

One war can hide another
www.aljazeera.com/news/2026/3/...

A Brief History of America’s Involvement in Iran - The American Prospect For many younger Americans, this is the first U.S. war in the Middle East. Here’s how we got here.

I'm back from a week off, anything happen while I was away?
Oh yeah, that. Well fortunately Naomi Bethune has supplied for me an entire history of U.S. intervention in Iran. Something to share with your underinformed friends:
prospect.org/2026/03/09/i...

This Hormuz choke to cause financial meltdown was the strategic calculation on Iran's part:
Pain delivery to get Trump and Netanyahu to a negotiated settlement.
Bloomberg: "Global markets have lost $6 trillion since the war began. Stagflation Trades Sweep Markets as Trump Signals Widening War"

Picture of DOGE guy Nate Cavanaugh

Screenshot of my DOGE letter “Dr. Joseph Rezek Dear NEH Grantee, This letter provides notice that the National Endowment for the Humanities (NEH) is terminating your federal grant (Grant Application No. FEL29509824) effective April 3, 2025, in accordance with the termination clause in your Grant Agreement. Your grant no longer effectuates the agency's needs and priorities and conditions of the Grant Agreement and is subject to termination due to several reasonable causes, as outlined in 2CFR§200.340. For instance, NEH has reasonable cause to terminate your grant in light of the fact that the NEH is repurposing its funding allocations in a new direction in furtherance of the President's agenda. The President's February 19, 2025 executive order mandates that the NEH eliminate all non-statutorily required activities and functions. See Commencing the Reduction of the Federal Bureaucracy, E.O. 14217 (Feb. 19, 2025). Your grant's immediate termination is necessary to safeguard the interests of the federal government, including its fiscal priorities. Any objections or appeals to this termination will be managed in strict accordance with the President's Executive Orders,

Last year, this guy (left) from DOGE used ChatGPT to find NEH grants that were too “DEI” for Trump, and canceled them, including mine, as shown by the letter I received last April (right). Huge new NYT article on the back story link below

The U.S. war against Iran is now the biggest oil supply disruption in history, and it's disrupting twice as much of the global supply as the second most disruptive event ever.

Israel is dropping white phosphorous. We bombed an elementary school. Oil plants are burning, acid rain is falling, desalinization plants are taking fire. We are fucking around and should not be surprised to find out

Every day the economic experts get up and are like “we think today is the day the racists will use logic”

"This probably sounds like nightmare fuel to many, but to wealthy VCs and AI and crypto entrepreneurs it’s the next gold rush." is the quote of our time

read what Iranians are writing about this moment-this piece is as illuminating as it is devastating

none? 😂

a cartoon of spongebob sitting on a beach Alt: a cartoon of spongebob sitting on a beach

i know there's lots of nuance in private credit and i agree it matters enormously, but what i also know is that in any situation, when the shit hits the fan...

i seriously am loving the detail that senior management has to pony up

Private credit loan spreads are tiiiight [FREE TO READ] But data is fun

Private credit dataviz. 🎆

as.ft.com/r/aab30bf0-9...

Indiana escalates crypto debate with first state mandate for DC plans Following months of industry debate over crypto’s place in defined contribution plans, Indiana has escalated the conversation — becoming the first state to require public DC plans to offer crypto inve...

"Under a new Indiana law, public DC plans in the state will be required to offer at least one crypto investment option in a self-directed brokerage account by no later than July 1, 2027" 🧐

📽️ it is so important to sob from laughter at times like this

And everyone in this chain of command is responsible. It is horrific.

omg "rationally exuberant"

Not convinced this jobs report is as scary or as bad as initial reaction.

Household survey looks mostly fine
Little change in participation
Little change in EPOP
U-6 falls again

and again, really bad weather hitting payrolls

Issa recession.

Since Jan 2025, the US has lost 526,900 jobs in sectors outside health care and social assistance. Now, for the first time in 4 years, healthcare is also experiencing job losses, -18,600 in February.

9:09 AM | March 6, 26 | reuters.com UPDATE 1-BlackRock limits withdrawals at private credit fund as redemptions mount (Changes sourcing, Adds details throughout) March 6 (Reuters) - BlackRock said on Friday it has put limits on withdrawals from a flagship private credit fund after a surge in redemption requests, making it the latest company responding to rising investor caution in the asset class. Shares of the asset manager fell 3.4% before the bell after the Financial Times first reported the news. BlackRock's $26 billion HPS Corporate Lending Fund received withdrawal requests worth $1.2 billion in the first quarter, or roughly 9.3% of its net asset value. HPS Investment Partners told investors it would pay out $620 million as part of the quarterly redemption, hitting a 5% threshold that allows the asset manager to restrict further withdrawals

🫣

My always watch measures: long term unemp & Black unemp are still in distress. 1 in 4 of the unemployed have been so for more than 6 months. Black unemp is up to 7.7 (double white unemp). And Black unemployment has always been a harbinger of things to come for other types of workers, so look out.

Never base the entire economic outlook on one report, but this is *not* great. For months, we have been holding our breath watching the labor market get weaker and weaker. It may finally be beginning to break. #jobsday

because you are looking at the english versions? 🇮🇹

A country coming apart: US-Israel war pounds Iranian life The US-Israel war began over Tehran on Saturday and spread, city by city, into a sustained assault on civilian infrastructure, military sites, and daily life.

"The US-Israel war that began over Tehran on Saturday has since spread, city by city, into a sustained assault on civilian infrastructure, military sites, and daily life"

"hundreds of casualties...including women, children...Emergency wards filled beyond capacity."
www.newarab.com/news/country...