I continue to be glad I cancelled my @financialtimes.com
subscription over their Trump\Musk coverage.

Witness this heap of rubbish from Edward Luce.

To summarise ... Nazis are bad so it's best if they win so they don't get violent when they don't.

Really?

In which Dan gives up the fight against people saying banks "hold" capital.

I would of course quibble that people (like most of my undergraduates ...) actually don't know it means and the "holding" thing encourages them to think precisely the wrong thing.

Here's Paul Tucker on this question.

The desparation as they say they won't hike your subscription price and offer multiple price cuts as you cancel was kind of fun.

And here's emigration, immigration and net migration of Irish citizens to Australia. There was a pickup in emigration in recent years but the net migration of 4 thousand is well below the 12 thousand recorded in 2012.

Just to introduce some facts, here is emigration, immigration and net migration of Irish citizens. Emigration was up in the year to April 2024 but net outward migration was 5 thousand. This is way less than a decade ago. For the years 2011-2015, net outward migration averaged 25 thousand.

I have argued for tiering with positive rates over the past few years. A short summary of my response to the "tax on banks" argument was as follows.