David Munro
@dmunro.bsky.social
Academic Economist, Middlebury College
It's wild to me that the profession, macro in particular, essentially ignored Larry's role in laying the foundations for the 2008 crisis. Their dismissal of Brooksley Born's warning is also dripping with sexism, so par for the course. @akhilrao.bsky.social www.pbs.org/video/frontl...
FRONTLINE | "The Warning" - Preview | Season 2009 | Episode 14
Long before the meltdown, one woman tried to warn about a threat to the financial system.
www.pbs.org
November 18, 2025 at 2:40 PM
It's wild to me that the profession, macro in particular, essentially ignored Larry's role in laying the foundations for the 2008 crisis. Their dismissal of Brooksley Born's warning is also dripping with sexism, so par for the course. @akhilrao.bsky.social www.pbs.org/video/frontl...
Since we don't yet have new official claims data, my last (?) rogue report (I missed last week!), for week ending Nov. 1st. CC increased 20k (SA) or 7k (NSA) last week.
November 14, 2025 at 3:34 PM
Since we don't yet have new official claims data, my last (?) rogue report (I missed last week!), for week ending Nov. 1st. CC increased 20k (SA) or 7k (NSA) last week.
Reposted by David Munro
The @financialtimes.com suggests US drew $900 million worth of SDRs from its (~$170 billion) account at the IMF and transferred them to Argentina so Argentina could make a scheduled debt repayment to the IMF. on.ft.com/4oBeQMm
US drew $900mn from IMF account as Argentina debt payment loomed
Buenos Aires’s reserves rose by the same margin as Washington seeks to bolster Javier Milei’s government
on.ft.com
November 13, 2025 at 11:33 AM
The @financialtimes.com suggests US drew $900 million worth of SDRs from its (~$170 billion) account at the IMF and transferred them to Argentina so Argentina could make a scheduled debt repayment to the IMF. on.ft.com/4oBeQMm
Reposted by David Munro
Every month for the last 77 years, the Bureau of Labor Statistics has estimated Americans' unemployment rate
This streak dies tomorrow
Govt staff could not survey Americans about whether they're working or looking for work in Oct, the 1st time in 934 months
This blind spot will remain forever
This streak dies tomorrow
Govt staff could not survey Americans about whether they're working or looking for work in Oct, the 1st time in 934 months
This blind spot will remain forever
Here's the planned BLS data release schedule for Nov 2025.
On Tues, it couldn't release Sept job openings, hires, layoffs and firings data.
This morning, it couldn't release 2025Q3 business Productivity and Costs data.
Tomorrow, it can't release Oct 2025 #JobsReport
www.bls.gov/schedule/202...
On Tues, it couldn't release Sept job openings, hires, layoffs and firings data.
This morning, it couldn't release 2025Q3 business Productivity and Costs data.
Tomorrow, it can't release Oct 2025 #JobsReport
www.bls.gov/schedule/202...
November 6, 2025 at 2:34 PM
Every month for the last 77 years, the Bureau of Labor Statistics has estimated Americans' unemployment rate
This streak dies tomorrow
Govt staff could not survey Americans about whether they're working or looking for work in Oct, the 1st time in 934 months
This blind spot will remain forever
This streak dies tomorrow
Govt staff could not survey Americans about whether they're working or looking for work in Oct, the 1st time in 934 months
This blind spot will remain forever
Week #5 Rogue Unemployment Report, Halloween Edition 🎃 (hoping we won't have a Christmas Edition...). Data up to week ending Oct. 18th. Insured Unemployment ticked up slightly: +34k or 2.2% (NSA), +28k or 1.5% (SA)
October 31, 2025 at 1:11 PM
Week #5 Rogue Unemployment Report, Halloween Edition 🎃 (hoping we won't have a Christmas Edition...). Data up to week ending Oct. 18th. Insured Unemployment ticked up slightly: +34k or 2.2% (NSA), +28k or 1.5% (SA)
Week #4 Rogue Unemployment Report (compiled from state data). Insured Unemployment relatively steady (+18k or 1.2% (NSA). -6k or -0.3% (SA). (excl. CO, MA, TN, not reported yet)
October 24, 2025 at 3:15 PM
Week #4 Rogue Unemployment Report (compiled from state data). Insured Unemployment relatively steady (+18k or 1.2% (NSA). -6k or -0.3% (SA). (excl. CO, MA, TN, not reported yet)
Reposted by David Munro
Government of the scammer, by the scammer, for the scammer
U.S. PRESIDENT TRUMP PARDONS BINANCE CRYPTO FOUNDER ZHAO - WHITE HOUSE OFFICIAL
October 23, 2025 at 3:23 PM
Government of the scammer, by the scammer, for the scammer
Reposted by David Munro
Two amazing signs
This one goes out to @josephpolitano.bsky.social Boston #NoKings
October 18, 2025 at 6:10 PM
Two amazing signs
Week #3 Rogue Unemployment Report: Insured unemployment (Continued Claims) (excl. AZ, MA, NV, TN: not reported yet) declined by 8k (SA), so pretty steady.
October 17, 2025 at 1:10 PM
Week #3 Rogue Unemployment Report: Insured unemployment (Continued Claims) (excl. AZ, MA, NV, TN: not reported yet) declined by 8k (SA), so pretty steady.
Reposted by David Munro
In the United States. Not another country. Happening right now.
In Portland, an ambulance was summoned to the ICE office to treat an injured protester (not clear how he was injured). But when the patient was loaded inside, ICE officers refused to let the ambulance leave and threatened to shoot the ambulance driver: www.wweek.com/news/2025/10...
Documents Allege a Federal Agent at Portland ICE Threatened to Shoot an Ambulance Driver
Feds delayed medics who had come to pick up an injured protester. Then, according to confidential incident reports, the agents became aggressive.
www.wweek.com
October 13, 2025 at 6:09 PM
In the United States. Not another country. Happening right now.
Reposted by David Munro
Three big announcements concerning new data from the AEA on the #EconJobMarket
First, there are now live dashboards on AEA JOE that show the # of jobs listed on JOE each week, with comparisons to recent years. These will be updated weekly.
www.aeaweb.org/about-aea/co...
#EconSky
1/many
First, there are now live dashboards on AEA JOE that show the # of jobs listed on JOE each week, with comparisons to recent years. These will be updated weekly.
www.aeaweb.org/about-aea/co...
#EconSky
1/many
JOE Openings by Week - Pre-ASSA
www.aeaweb.org
October 9, 2025 at 7:13 PM
Three big announcements concerning new data from the AEA on the #EconJobMarket
First, there are now live dashboards on AEA JOE that show the # of jobs listed on JOE each week, with comparisons to recent years. These will be updated weekly.
www.aeaweb.org/about-aea/co...
#EconSky
1/many
First, there are now live dashboards on AEA JOE that show the # of jobs listed on JOE each week, with comparisons to recent years. These will be updated weekly.
www.aeaweb.org/about-aea/co...
#EconSky
1/many
Reposted by David Munro
Did DOGE save us $2 trillion?
“Not even close. .. Total spending excluding interest rose $220 billion, or 4%, for the entire fiscal year.” 🤡
@wsj.com
www.wsj.com/economy/tari...
“Not even close. .. Total spending excluding interest rose $220 billion, or 4%, for the entire fiscal year.” 🤡
@wsj.com
www.wsj.com/economy/tari...
October 9, 2025 at 1:27 PM
Did DOGE save us $2 trillion?
“Not even close. .. Total spending excluding interest rose $220 billion, or 4%, for the entire fiscal year.” 🤡
@wsj.com
www.wsj.com/economy/tari...
“Not even close. .. Total spending excluding interest rose $220 billion, or 4%, for the entire fiscal year.” 🤡
@wsj.com
www.wsj.com/economy/tari...
Reposted by David Munro
Trump’s tariffs won’t deliver many jobs on.ft.com/4ncOgYN | opinion
Trump’s tariffs won’t deliver many jobs
Nostalgia is not a strategy: the past cannot return
on.ft.com
October 7, 2025 at 3:37 PM
Trump’s tariffs won’t deliver many jobs on.ft.com/4ncOgYN | opinion
Reposted by David Munro
New post, I finally wrote my thoughts on the Stephen Miran Federal Reserve speech.
I think it shows yet another reason for central bank independence. Without it, you can't tell what's a genuine outsider take and what's just carrying water for the Executive.
mikekonczal.substack.com/p/mirans-cas...
I think it shows yet another reason for central bank independence. Without it, you can't tell what's a genuine outsider take and what's just carrying water for the Executive.
mikekonczal.substack.com/p/mirans-cas...
Miran’s Case for Cuts: A Reminder of Why Independence is Essential
Stephen Miran's recent speech highlights not just a debate over r*, but the deeper risks of allowing White House talking points to shape monetary policy.
mikekonczal.substack.com
September 29, 2025 at 7:47 PM
New post, I finally wrote my thoughts on the Stephen Miran Federal Reserve speech.
I think it shows yet another reason for central bank independence. Without it, you can't tell what's a genuine outsider take and what's just carrying water for the Executive.
mikekonczal.substack.com/p/mirans-cas...
I think it shows yet another reason for central bank independence. Without it, you can't tell what's a genuine outsider take and what's just carrying water for the Executive.
mikekonczal.substack.com/p/mirans-cas...
@stlouisfed.bsky.social Modest suggestion for FRED: can you add a sort by "time series length" option? When teaching I often like to show long time series. When I sort by "observation start" I often have to wade through pages of time series that start early but end in, e.g., 1948.
September 24, 2025 at 1:26 PM
@stlouisfed.bsky.social Modest suggestion for FRED: can you add a sort by "time series length" option? When teaching I often like to show long time series. When I sort by "observation start" I often have to wade through pages of time series that start early but end in, e.g., 1948.
Reposted by David Munro
When Minneapolis dramatically reduced zoning restrictions home prices fell 16-34% and rents fell 17.5-34%. Powerful stuff. Technical details in great research below.
🚨 Excited to share a new working paper with an exceptional former student of mine, Helena Gu. The paper looks at the impact of one of the largest zoning reforms in US history: the Minneapolis 2040 plan. We find significant impacts on home prices:
(1/N)
ideas.repec.org/p/zbw/glodps...
(1/N)
ideas.repec.org/p/zbw/glodps...
August 18, 2025 at 5:52 PM
When Minneapolis dramatically reduced zoning restrictions home prices fell 16-34% and rents fell 17.5-34%. Powerful stuff. Technical details in great research below.
Reposted by David Munro
Let's focus on qualifications: Antoni finished grad school 5 years ago at Northern Illinois with no distinction. Dissertation: No focus on labor or data collection. Zero publications. One lifetime citation (by a former colleague).
This record would not earn you a job as junior economist at BLS.
This record would not earn you a job as junior economist at BLS.
Trump's nominee for BLS commissioner, EJ Antoni, is disastrously terrible. He's a 1200%, 1300% maybe 1400% in-the-tank Trumper, with few credentials beyond a history of misrepresenting or misunderstanding economic statistics. He has shown no commitment to truth
www.washingtonpost.com/business/202...
www.washingtonpost.com/business/202...
www.washingtonpost.com
August 12, 2025 at 12:49 AM
Let's focus on qualifications: Antoni finished grad school 5 years ago at Northern Illinois with no distinction. Dissertation: No focus on labor or data collection. Zero publications. One lifetime citation (by a former colleague).
This record would not earn you a job as junior economist at BLS.
This record would not earn you a job as junior economist at BLS.
Reposted by David Munro
Looking for a 2 page explanation of CES Benchmark revisions? I wrote one at www.congress.gov/crs-product/...
www.congress.gov
August 4, 2025 at 11:16 AM
Looking for a 2 page explanation of CES Benchmark revisions? I wrote one at www.congress.gov/crs-product/...
Reposted by David Munro
Dr. Erika McEntarfer has devoted her career to public service. She has conducted herself as BLS Commissioner with great integrity. There is no evidence whatsoever that BLS data are politically biased.
#econsky
#econsky
August 1, 2025 at 7:37 PM
Dr. Erika McEntarfer has devoted her career to public service. She has conducted herself as BLS Commissioner with great integrity. There is no evidence whatsoever that BLS data are politically biased.
#econsky
#econsky
🚨 Excited to share a new working paper with an exceptional former student of mine, Helena Gu. The paper looks at the impact of one of the largest zoning reforms in US history: the Minneapolis 2040 plan. We find significant impacts on home prices:
(1/N)
ideas.repec.org/p/zbw/glodps...
(1/N)
ideas.repec.org/p/zbw/glodps...
July 29, 2025 at 7:11 PM
🚨 Excited to share a new working paper with an exceptional former student of mine, Helena Gu. The paper looks at the impact of one of the largest zoning reforms in US history: the Minneapolis 2040 plan. We find significant impacts on home prices:
(1/N)
ideas.repec.org/p/zbw/glodps...
(1/N)
ideas.repec.org/p/zbw/glodps...
Reposted by David Munro
This piece is very moving, and reflects how I am feeling about the Israel/Gaza calamity.
Silence in the Face of Gaza's Starvation is Absolute Betrayal of Holocaust Victims
By Orit Kamir
Originally published in Haaretz
substack.com/home/post/p-...
Thanks to @deanbaker13.bsky.social for posting it.
Silence in the Face of Gaza's Starvation is Absolute Betrayal of Holocaust Victims
By Orit Kamir
Originally published in Haaretz
substack.com/home/post/p-...
Thanks to @deanbaker13.bsky.social for posting it.
Column on the Responsibility of Israelis to Speak Up Against Mass Starvation in Gaza
I generally restrict my comments here to economic issues, but some things are hard to ignore.
substack.com
July 29, 2025 at 12:30 AM
This piece is very moving, and reflects how I am feeling about the Israel/Gaza calamity.
Silence in the Face of Gaza's Starvation is Absolute Betrayal of Holocaust Victims
By Orit Kamir
Originally published in Haaretz
substack.com/home/post/p-...
Thanks to @deanbaker13.bsky.social for posting it.
Silence in the Face of Gaza's Starvation is Absolute Betrayal of Holocaust Victims
By Orit Kamir
Originally published in Haaretz
substack.com/home/post/p-...
Thanks to @deanbaker13.bsky.social for posting it.
Reposted by David Munro
An explosive whistle-blower report claims that the Justice Department is asking government lawyers to lie to the courts, and that this has forced career officials to chose between upholding the Constitution and pledging loyalty to the president.
Listen to today's episode of "The Daily."
Listen to today's episode of "The Daily."
A D.O.J. Whistleblower Speaks Out
In a complaint, a former Justice Department lawyer said his former colleagues were being forced to choose between the president’s agenda and their ethical obligations as attorneys.
trib.al
July 23, 2025 at 12:40 PM
An explosive whistle-blower report claims that the Justice Department is asking government lawyers to lie to the courts, and that this has forced career officials to chose between upholding the Constitution and pledging loyalty to the president.
Listen to today's episode of "The Daily."
Listen to today's episode of "The Daily."
Ah the joys of peer review. One referee: "this result is not interesting, you should remove it from the paper." Another referee: "this is the most interesting result in the paper, you should do more here." Convex combination= leave as is?
July 20, 2025 at 2:22 PM
Ah the joys of peer review. One referee: "this result is not interesting, you should remove it from the paper." Another referee: "this is the most interesting result in the paper, you should do more here." Convex combination= leave as is?
Reposted by David Munro
Canadians have been threatening our essential telecommunications infrastructure for decades
July 10, 2025 at 1:13 AM
Canadians have been threatening our essential telecommunications infrastructure for decades
Reposted by David Munro
IF YOU ARE IN ONE OF THESE DISTRICTS PLEASE MAKE A CALL RIGHT NOW
DOES NOT MATTER IF YOUR VOICE SHAKES
CALL AND SAY YOU OPPOSE BBB
Scripts here: 5calls.org
DOES NOT MATTER IF YOUR VOICE SHAKES
CALL AND SAY YOU OPPOSE BBB
Scripts here: 5calls.org
July 3, 2025 at 3:45 PM
IF YOU ARE IN ONE OF THESE DISTRICTS PLEASE MAKE A CALL RIGHT NOW
DOES NOT MATTER IF YOUR VOICE SHAKES
CALL AND SAY YOU OPPOSE BBB
Scripts here: 5calls.org
DOES NOT MATTER IF YOUR VOICE SHAKES
CALL AND SAY YOU OPPOSE BBB
Scripts here: 5calls.org