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Interesting to see some basic demand theory applied to tariff choices. So… What’s wrong with it? Used in isolation on a single small trading partner the formula makes some sense. But if applied widely to many non trivial ones it does not. 1/2

Just like Congress would never empower a president to unilaterally set tax rates, Congress should never empower a president to unilaterally set tariff rates. The power to levy taxes and tariffs is the constitutional prerogative of Congress. Transferring a core Congressional

If it looks retarded, talks like it's retarded and acts like it's retarded, it is retarded.

*Trade war: my theory of the case* 1. What is the goal/ideal outcome/trump admin hopes: 10% tariff across the board with no retaliation + direct non-tariff favors from other countries to settle this at 10% + a possible full-scale bilateral trade war with China. (1/n)

[Warning: this may offend some people!] I think economists have done society a disservice by elevating applied-micro studies that focus exclusively on the relative effects of trade across different groups of workers but are silent about the aggregate effects.

1/ Despite a memo released by the DOJ earlier this month, federal prosecutors want to imprison Roman Storm for 45 years for writing open-source code. Matt Huang and I provide details in a new post linked below.

🚨 Blockchains meter transactions (Ethereum’s “gas”, Solana’s “compute units”), but transactions consume multiple resources: CPU, memory, bandwidth, etc. Should we meter and price them separately? Our new paper with (Nir Lavee, noam nisan, and Max Resnick ) has answers.

After the 5th Cir. ruled against the government in November, it repeatedly tried to avoid entry of a final judgment in the Tornado Cash case. It asked the Court TWICE for long delays before claiming the case was moot (with no final judgment needed) b/c they had chosen to remove

The best way to not leak personal data is for orgs to not have it in the first place. ZK allows KYC/compliance without sharing of sensitive information. Incidents like these will catalyze ZK adoption—privacy is not just ideological but also reduces risk for businesses.

Today, the DOJ filed notice it is dropping the Section 1960(b)(1)(B) charge against Roman Storm 🇺🇸 🌪️ in U.S. v. Roman Storm, but will continue to trial on other charges. While this was consistent with an April 2025 DOJ Memo, calling for the end to “regulation by prosecution” and for the

btw everyone missed this but a judge overturned the 20 years prison sentence of the mango markets hacker Based on idea that a NY tribunal doesnt have jurisdiction over it and the "highly profitable strategy" idea he's still going to jail for 4 years because he's a pedo tho

Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL

Not true. David, you should know better than this! Shame on you. Stablecoins must have a 1:1 segregated reserve. This is like saying checking and savings accounts will be raided to pay out money market funds at a bank doing custody for them. As in, it is a lie.

John Carmack RL on objectively verifiable problems automatically trains LLMs to use emdashes because emdashes cause clearer thinking

Wrong. We can see the effects of tariffs on prices pretty clearly. Compare the change in prices across tariff-affected and unaffected industries. The reason we aren't seeing aggregate effects is the Federal Reserve is tightening monetary policy to keep prices stable.

While the U.S. has played a leading role in scientific advancement in recent decades, I am concerned that this leadership is now in serious jeopardy. For this reason, I have chosen to sign the Letter from NAS Members to Congress in support of continued funding for scientific

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This first witness in Roman's trial immediately caught my attention bc the victim was a classic Pig Butchering case. The only issue is....uh.....those scammers don't use Tornado Cash? And they never have? So, like, wtf?

Tucker Carlson I am Nate Anderson, the founder of Hindenburg Research referenced repeatedly in this bizarre and fantastical interview. During my career, I helped expose numerous financial scams, including over a dozen Ponzi schemes and numerous instances of public companies lying to and