I love the helmet and the message. We—everyone who values human dignity and economic decency—should carry these empty pans in solidarity. This isn't just about US fiscal policy; it's about our brothers and sisters globally who suffer the real-world consequences when the bond market is prioritized over human welfare.
I asked a former in-law, a high level banker, if he ever read The Wealth of Nations, and he said no. A Director at a major bank, never read the “how to” for capitalism - which says, a rigged market collapses the system. A few months later, I heard his wife's friends brother, a hedge fund guy, thank him for “the information he gave him during his career, to which he attributed his own success.”
These pricks almost send thank you’s for insider training tips, against the banks interests
And war will only compound the damage—far more destructively than quantitative easing ever could. As Krugman often notes, the math matters: 6% debt growth vs. 2% economic growth creates an obvious long-term breaking point. But the ultimate structural threat is the inequality engine. When the top captures all the wealth while facing a shrinking tax burden, the math breaks down entirely. Global markets are paying close attention to this structural flaw.
The effects of the newly announced Iran economic sanctions in a John Wayne, Dirty Harry “you’re either with us or agin’ us” manner is striking in the way it’s another level of my madness is bigger than yours. While the blockade is going to make it tougher for the ayatollah to trade the result will likely give rise to more drone attacks including against the fleet. This is a backdoor attempt by Trump to say we’re not out of ammo sarge just out of money. The effect on the bond market will be yet higher rates to come. Someone will task why Trump didn’t try the eco sanctions to begin with. That wouldn’t have been Bessent. Maybe Ray Dalio or Navarro.
I didn't have any white wine on hand so used reposado tequila. Tasted great, didn't help bone spurs, or the arthritis. No headache, though (tequila's always been kind to me that way).
Haha, nice one. Love it. I’ve been thinking lately that it must drive Trump insane that there is no “bond villain/vigilante” for him to insult, or sue, or arrest. The bond market is the Borg. It just doesn’t give a shit.
The Federal Reserve Board sets the federal funds bond rate. Trump tried to interfere, but when Jerome Powell was the chair he would have none of it. Been wondering about the new chair. At least Powell is still on the board...
"FOMC has maintained the target range for the federal funds rate at 3-1/2 to 3-3/4 percent since the beginning of the year." July 2026 report to Congress
I wish you had been my econ professor. Great humor on a humorless topic we all should pay attention to. My guess is Trump is deaf also, as well as stupid, and probably, in his wandering mind, thought they were asking him about a country called Bonds. What a moron! :-)
Love your daily posts professor ... keep up the great work and thanks for the education.
This is no joke. Bessent's main objective is to keep Trump happy. And Trump every day displays an unbelievable level of ignorance about everything. We are so lost as a country.
I am constantly amazed by the right wing capitalists who say they want free markets but always intervene in the most destructive ways. Today’s Republican Party members are fascists illegally using military force, tariffs, and constant lying to destroy our country. I hope we can defeat them at the polls and start to build back a democracy.
Bonds away!
I love the helmet and the message. We—everyone who values human dignity and economic decency—should carry these empty pans in solidarity. This isn't just about US fiscal policy; it's about our brothers and sisters globally who suffer the real-world consequences when the bond market is prioritized over human welfare.
We could wear them to the polls!
Paul, you have another talent: you're a real comedian! Thank you. We need daily laughs like the several you brought me today.
Truly a "deranged bum". 🤣 Thanks for the laugh, Dr. Krugman!
I asked a former in-law, a high level banker, if he ever read The Wealth of Nations, and he said no. A Director at a major bank, never read the “how to” for capitalism - which says, a rigged market collapses the system. A few months later, I heard his wife's friends brother, a hedge fund guy, thank him for “the information he gave him during his career, to which he attributed his own success.”
These pricks almost send thank you’s for insider training tips, against the banks interests
Tranche warfare
2 marks.
And war will only compound the damage—far more destructively than quantitative easing ever could. As Krugman often notes, the math matters: 6% debt growth vs. 2% economic growth creates an obvious long-term breaking point. But the ultimate structural threat is the inequality engine. When the top captures all the wealth while facing a shrinking tax burden, the math breaks down entirely. Global markets are paying close attention to this structural flaw.
Yes, This is a byproduct of the metastasizing explosion of wealth at the top, and the galloping
penury of the rest.
The effects of the newly announced Iran economic sanctions in a John Wayne, Dirty Harry “you’re either with us or agin’ us” manner is striking in the way it’s another level of my madness is bigger than yours. While the blockade is going to make it tougher for the ayatollah to trade the result will likely give rise to more drone attacks including against the fleet. This is a backdoor attempt by Trump to say we’re not out of ammo sarge just out of money. The effect on the bond market will be yet higher rates to come. Someone will task why Trump didn’t try the eco sanctions to begin with. That wouldn’t have been Bessent. Maybe Ray Dalio or Navarro.
Good one !
I'd join you but my bone spurs are flaring up.
Doesn't RFK Jr. have an ointment he recommends for that?
No, but he always has some leeches who can heal whatever it is you suffer from.
Roasted roadkill does wonders.
Try soaking your foot in white vinegar - my husband and his golfing friend avoided surgery ! It works!
I might have misread your recommendation, I soaked myself in white wine..... but I still have bone spurs but now with a massive headache on top....
I didn't have any white wine on hand so used reposado tequila. Tasted great, didn't help bone spurs, or the arthritis. No headache, though (tequila's always been kind to me that way).
Ah, wait till tomorrow about that.
White vinegar …soak your foot to relieve pain and eventually bone spurs are not a problem.
Hi Karen, I was attempting a little joke to lighten up the feeling of dispair under this drump regime.
Didn't do a damn thing for my knee!
I rely on ivermectin, myself. (JK)
Love this!
You rock Paul! Always appreciate you 🌸
Haha, nice one. Love it. I’ve been thinking lately that it must drive Trump insane that there is no “bond villain/vigilante” for him to insult, or sue, or arrest. The bond market is the Borg. It just doesn’t give a shit.
True, but that won't stop him from blaming Biden and Obama.
Like Vance blamed Biden for the federal deficit recently.
Resistance ia futile.
....like the fatBorgs clogging the London sewers?
The Federal Reserve Board sets the federal funds bond rate. Trump tried to interfere, but when Jerome Powell was the chair he would have none of it. Been wondering about the new chair. At least Powell is still on the board...
"FOMC has maintained the target range for the federal funds rate at 3-1/2 to 3-3/4 percent since the beginning of the year." July 2026 report to Congress
The ayatollah said he'd NEVER assassinate the donald, tRump is doing too good of a job destroying everything, according to our #1 opponent.
Never interrupt your enemy when he is making a mistake.
I wondered if Jr was still living. 1st strike took out his Dad.
Does the arc of history bend towards the yield curve?
No Treasury Secretary of any country has ever won a battle with the bond market with a (hot) air war alone
I wish you had been my econ professor. Great humor on a humorless topic we all should pay attention to. My guess is Trump is deaf also, as well as stupid, and probably, in his wandering mind, thought they were asking him about a country called Bonds. What a moron! :-)
Love your daily posts professor ... keep up the great work and thanks for the education.
Winston Krugman’s Finest Speech!
With the professor at the helm, we have nothing to fe-ah but fe-ah itself!
Gonna start referring to you as “Sally Roosevelt”!
This is no joke. Bessent's main objective is to keep Trump happy. And Trump every day displays an unbelievable level of ignorance about everything. We are so lost as a country.
Don't forget the Tech Nazis and their circular AI financing.
Stagflation is the best outcome - collapse is the probable outcome
I beleive most of us are already there. We aren't in bread lines yet, but he's doing his best to destroy our lives.
We’ve always been at war with the bond market!
Ya got a future in comedy, kid.
Paul, you are already an American hero 🇺🇸
I am constantly amazed by the right wing capitalists who say they want free markets but always intervene in the most destructive ways. Today’s Republican Party members are fascists illegally using military force, tariffs, and constant lying to destroy our country. I hope we can defeat them at the polls and start to build back a democracy.
Join Indivisible chapter near you
Thank you , Professor. 😂 bonds away.
Oh my gosh, laughing in the face of adversity! YOU GO PAUL KRUGMAN!!
Hilarious!
I nominate you to defend us against Generalissimo Bone Spurs.