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Platypus Economics with Justin Wolfers

@platypuseconomics

“There is no price tag in the economy as tall as gas prices, and that you pass as often.”⁣ ⁣ Visibility matters. Economics isn't just about prices; it's about attention. Gas prices shape how people feel about the economy because they're impossible to ignore.

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More from Platypus Economics with Justin Wolfers

Care work is often treated as somehow less "real" than making tangible goods. Nonsense. It's physically demanding, emotionally demanding, and often highly skilled. That's real work, mate.⁣ ⁣ Check out the full analysis here: https://newsletter.platypuseconomics.com/p/the-pink-collar-economy-is-here⁣

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Platypus Economics with Justin Wolfers

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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"If we don't have immigration and population growth, the number of people who can pay off that debt just went down." That's the key mechanism.

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“He failed to understand the interconnectedness of the world economy.” ⁣ ⁣ That was true in the trade war, and it’s true now.

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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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A windfall profits tax sounds great as a one-off.⁣ ⁣ But once investors expect it to happen again, it's no longer a windfall tax—it's just a profits tax. And that can discourage the investment you actually want.

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Platypus Economics with Justin Wolfers

If there’s a water shortage, don’t subsidize showers. If there’s a blackout, don’t make AC cheaper. If there’s an oil shortage, don’t cut gas taxes. Prices are helping signal scarcity. A gas tax holiday weakens that signal right when it matters most.

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Platypus Economics with Justin Wolfers

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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A 60-year low in sentiment is a big deal because the baseline is already tough: this survey has lived through recessions, inflation, wars, and financial crises. And yet this is worse.⁣ ⁣ Read the full analysis on Substack: https://newsletter.platypuseconomics.com/p/consumer-sentiment-hits-a-record

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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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Le #PQ de #PSPP et l’extrm-droite. 🤷🏻 #NouvelleAlliance #PartiQuébécois #Ethnonationalisme #Xénophobie #Racisme #QuébecSolidaire #QS #PartiLibéral #PLQ #CAQ #PCQ #ÉlectionsQuébec #Canada #Carney #polqc #polcan

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Buying locally-produced food eliminates long-distance transportation costs. Driving a combustion vehicle further to get it may cancel out trucking fuel savings. If possible use an e-assist cargo cycle on a protected cycle network to pick up groceries. Or have them delivered by an electric vehicle.

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Source #Japan #Nippon

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Cooking alongside Meghan was such a joy. She shares my passion not only for food, but for feeding the people you love.” - Chef José Andrés #WithLoveMeghan #MeghanSussex #DuchessofSussex

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