Kyle Pomerleau

"Ronald Reagan Was No Protectionist," says someone (Senator Phil Gramm) who would actually know wsj.com/opinion/ronald…

Ppl are dunking bc they mistakenly think Mike is endorsing this outcome but I fear he’s right I still hear Dems openly talk about how great it would be to get Katherine Tai at Commerce next admin. There’s no understanding that this was a massively destructive wrong turn

Pettis’ theories and models have a clumsy track record of falling apart upon closer inspection by trained specialists in their fields of study.

Lots of confusion comes from: 1. Ignoring how markets adjust, 2. Confusing accounting identities with causation, and 3. Treating prices as irrelevant. A recent @michaelxpettis piece showed this. My solution? Ask, can we say this in supply and demand? economicforces.xyz/p/curing-inter…

The reporters have stupid NIMBY sympathies but the photo editor did a solid here with this caption. nypost.com/2025/07/21/us-…

Me in 2019 when people were using Bessent's method to evaluate the TCJA:

Eyeballing macro data remains an entirely unconvincing method of determining the effects of federal policy.

“Foreign countries pay tariffs.”

The president says that if the Fed lowered short term rates, interest expenses for the U.S. would fall by $1 trillion per year. The U.S. spent $1.1 trillion on interest expenses in 2024, and so there's almost no way this claim is remotely true.

Michael Pettis, again in FT, ignoring how prices adjust. Pro-tip: Write down a model. Check your equilibrium conditions. 🧵 of what happens when you don't

Because the program is not in balance, these workers either need to pay more tax, or accrue fewer future benefits to fix it. These are not exactly identical, but you can't really avoid the "pain" unless you are willing to tax someone else to fill the gap.

It's called medical progress, which is a good thing.

There is a bit of mythologizing about how we forced all young people to go to college and now they are economically ruined. Around 60% of people in their 30s do not have a college degree. And the college wage premium remains near a historical high.

Creating over 15,000 jobs without laying a single foot of track is not a good thing! “Jobs” is just an expense line item!

Whatever happened to: "don't do anything you wouldn't want to see on the front page of the newspaper?"

BLS's import price indices explicitly do not include tariffs. So this chart is actually making the exact opposite point: foreign producers have likely eaten very little if any of the cost of US tariffs in the form of lower prices. 1/2