“The Trump admin is about to restart garnishing wages for some of the five million Americans currently defaulting on their student loans. This is happening at the same time that the value of going to college is going down. Now I’m going to do that thing that everybody loves and say ‘I told you so.’ Well, what I actually said was that not everyone should go to college. That, and student loans should be dischargeable in bankruptcy. And that the federal government should get out of the student lending business. What I’ve learned in the meantime is that boys, especially, may want to reconsider borrowing money (and devoting time) to get a four-year degree.” (05/07/25)
“Venezuela’s government on Wednesday acknowledged for the first time that members of the country’s opposition left the Argentine diplomatic compound where they had sheltered for over a year, but it denied that their arrival to the United States occurred under an international rescue operation as characterized by the political faction and the U.S. State Department. Venezuelan Interior Minister Diosdado Cabello said the group’s movements were negotiated with the government and further alleged that one of the six people who entered the Argentine ambassador’s residence in March left the compound in August, contradicting earlier statements from the opposition. Cabello’s statements came roughly 24 hours after U.S. Secretary of State Marco Rubio announced on social media that the opposition members were on U.S. soil after a ‘successful rescue.'” (05/07/25)
“No. The Net International Investment Position (NIIP) is a simple accounting concept. It is the total value of foreign assets owned by Americans in other countries minus the total US assets owned by foreigners. A positive number means that the value (but not the returns) of US-owned foreign assets is greater than the value (but not the returns) of foreign-owned US assets.” (05/07/25)
“President Trump announced Wednesday he planned to nominate Dr. Casey Means to serve as his surgeon general after he withdrew the nomination of his previous choice, Dr. Janette Nesheiwat. … Mr. Trump said Dr. Nesheiwat, a former Fox News contributor, would work with Mr. Kennedy ‘in another capacity’ at the health and human services department. Dr. Nesheiwat was scheduled to appear before the Senate health committee on Thursday, but her nomination ran into trouble on two fronts. Laura Loomer, a conservative activist whom Mr. Trump has listened to on other personnel matters, called for a new surgeon general nominee, arguing Dr. Nesheiwat ‘is not ideologically aligned’ with the president. Reports have also raised questions about the veracity of Dr. Nesheiwat’s résumé.” (05/07/25)
“Revealed preferences suggest that repetitive manufacturing jobs are still preferable to pre-industrial life or scavenging dumps in underdeveloped countries. In the 19th century, most workers outside agriculture, construction, and the resource industries were employed in mindless manufacturing. Of course, these workers are as worthy of our respect as the consumers who patronize more efficient producers. Adam Smith raised an important question, but he could not imagine that, thanks to the fast economic growth that was to become typical of free societies, few workers would remain stuck in mindless manufacturing.” (05/08/25)
“Today, nearly 20 years after Congress passed legislation mandating a nationwide program known as Real ID, was the deadline for travelers to show the new identification for domestic flights. And yet nothing has happened. Although about 20 percent of the traveling public is still not compliant …. Homeland Security has done little more than issue a leaflet that people really, really, really should have the correct ID next time. The Trump administration may try to take credit for a smooth rollout — smooth because it wasn’t a rollout at all. Today’s deadline was largely artificial: According to the fine print of the regulations governing Real ID’s implementation, Homeland Security has until the end of 2027 to phase in the program in full. So the administration took today’s deadline to assure Americans that they could still fly, while it focused on another priority: immigration enforcement, rather than safety provision.” [editor’s note: How about neither? – TLK]
