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Basically, recessions are caused by "everyone trying to save money at the same time". This is a problem because at an aggregate level, everyone's income is the same as everyone's spending.

"Jeff Dean, one of Google’s earliest employees and an architect of its artificial-intelligence strategy for the past 15 years, is leaving the company to launch an AI startup focused on scientific discovery."

Instead of shitting on someone for doing their job well, Bessent would do well to appoint people who aren’t shit at their jobs.

Now part of the DwarfStar README

S&P 500 +1.5% with VIX Index +0.5pts for the first time since July 15, 2009

Here is a cool chart from @theterminal.bsky.social (Customers can replicate via 3352Z US Equity DDIS <GO>)

Our latest analysis looks at "shadow homeowners”: young adults still living with family who share many of the characteristics traditionally associated with homeownership. We find that there are more than a million potential homeowners in the shadows. blog.firstam.com/economics/ol...