“The Trump administration has been obsessed with maximizing the president’s war powers to justify his agenda on such things as industrial policy, immigration, domestic deployment of the National Guard, and, most glaringly, trade. But now, when we’re actually at war, officials are reversing their economic philosophy in service to Trump’s seat-of-the-pants decision-making. Trump’s trade policies are exactly what the great 19th-century economist Henry George had in mind when he warned, ‘What protectionism teaches us, is to do to ourselves in time of peace what enemies seek to do to us in time of war.’ What’s so strange is that Trump is turning George on his head by easing economic pressure on our wartime enemy. But he’s also reversing his own biases by liberating our domestic economy.” (03/25/26)
“Members of Congress may have to wait in line at the TSA checkpoint alongside everyone else if they fly with Delta. Delta Air Lines said on Tuesday that it has temporarily halted special airport services for members of Congress and their staff, including premium offerings such as terminal escorts that expedite security checks and its ‘red coat’ customer service assistance. ‘Due to the impact on resources from the longstanding government shutdown, Delta will temporarily suspend specialty services to members of Congress flying Delta,’ a spokesperson for the airline said.” (03/24/26)
“Most people have little understanding of what is big or small in the federal budget, in large part because the media have made a conscious decision to not inform people. Rather than taking ten seconds to indicate what share of the budget a particular item is, they just write huge numbers in the millions or billions, knowing they are completely meaningless to almost everyone who sees them. With this in mind, I thought it would be useful to write a piece pointing out that the $200 billion (2.9% of the budget) Trump plans to ask to cover the cost of his war in Iran is, in fact, a big deal. While this is still less than what we spend on huge social programs like Social Security, Medicare, and Medicaid, it is far larger than most of the items that are subject of major political debates.” (03/25/26)
“Arm jumped in early market trading Wednesday after the company said its newly released in-house chip would generate $15 billion in revenue alone by 2031. The British semiconductor and software design firm revealed its first-ever internal chip, the AGI CPU, at an event in San Francisco on Tuesday. The chip is designed specifically for AI inference in data centers, as demand for central processing units has surged with the rise of agentic AI. The new chip is expected to generate $15 billion in revenue by 2031, with total annual revenue of $25 billion and earnings per share of $9, Arm’s CEO Rene Haas said at the event.” (03/25/26)
“The TSA has a long history of failing to such a degree that it could never survive had it not been run by and within the government. Costing taxpayers and travelers $10 billion annually, not counting the inconvenience and time lost, the agency fails even on its own terms. The failure rate in 2015 was over 90 percent. The same in 2017. If these data seem dated, it is because they are. Instead of fixing the problems, the results of the agency’s internal testing were classified. In the absence of data, the only reasonable interpretation is that the agency remains a catastrophic failure to this day. The recent airport chaos stresses how the security theater has become an unbearable bottleneck. It also stresses how dysfunctional government services become problematic beyond the waste of resources and the inconveniences they cause.” (03/25/26)
“We expect increasing costs in government ‘charity,’ in part because governments centralize and standardize methods, discouraging innovation and adaptation. It’s not a market. Government bureaucrats and operatives try to coordinate increasing staffs (along with market costs in housing, etc.) while necessarily dealing with clients as objects of pity and bother rather than, as in markets (where people exchange valuable goods), subjects whose responses immediately affect the ‘business’ at hand.” (03/24/26)
