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Platypus Economics with Justin Wolfers

@platypuseconomics

Why oil? Because worsening war news tends to threaten energy supply. That pushes oil prices up. So rising oil isn’t just about petrol; it’s a signal about geopolitical risk hitting the global economy.

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More from Platypus Economics with Justin Wolfers

Consumer sentiment is near a 75-year low.⁣ ⁣ But increasingly, these surveys may be measuring partisanship as much as economics.⁣ ⁣ In other words, they may be asking “Do you like the president?” as much as “Do you like the economy?”

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Platypus Economics with Justin Wolfers

As incomes rise, spending patterns change.⁣ ⁣ People don't keep buying more wheat or endless washing machines. They spend more on health care, education, child care, and aged care.⁣ ⁣ Check out the full analysis here: https://newsletter.platypuseconomics.com/p/the-pink-collar-economy-is-here

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Kids often pick up on something economists downplay: people care not just about prosperity, but about whether technologies like AI are changing the world in ways that no longer feel predictable or secure.

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Debt by itself is a lousy guide. A $500,000 mortgage can be manageable or terrifying depending on salary, rates, and future earnings. Same with countries: the real question isn’t “how much debt?” but “can they carry it?”

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The lesson here isn’t just about phones in schools. It’s about human behavior: Take something away, and people usually replace it with something else.⁣ ⁣ Economists call this substitution.

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Right now, the AI boom mostly shows up as investment: chips, data centers, infrastructure. ⁣ ⁣ The real question is whether those foundations eventually help workers and firms do more with less.

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Deficits aren’t inherently good or bad. They’re a tool. The real question is: what problem are they solving? Econ is annoyingly context-dependent like that.

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Kevin Warsh once argued for rates that were too high for the economy, and he now seems politically reluctant to contradict Trump. That's a worrying combo.⁣ ⁣ We'll find out soon enough which one shows up to work.

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Even if Middle East tensions ease, futures markets are signaling oil prices will stay elevated for months — maybe years.⁣ ⁣ That's the "Iran tax." And it's not going away anytime soon, regardless of what the White House says about prices coming down.

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$42 million raised sounds enormous. It is. But economics is about compared with what? If the Met Gala creates far more value for fashion brands than for the museum, then the ticket price is probably too low.

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And they are still reaping the benefits while they have their foot on our necks.

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who let me cook this. #imurme #shitpost #funny #memes #internetbrain

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