Mortgage rates are way up. Home construction is down. Rents are astronomical. All of this is worse since Trump took power, because of the tariffs and the Iran War. It's hard to know what planet, let alone what housing market, JD Vance is living in, to be able to make such out-of-touch claims with a straight face.

Doug Ford: "President Trump is the type of person that would steal your lunch money the first day. He'd steal the toque off your head the second day, and the third day he'd steal your running shoes. He is not to be trusted whatsoever."

Every market has a fellow who is certain the prices are wrong and that he alone knows the right ones. Usually the market charges him tuition for this belief. Occasionally, it hands him the Treasury. Consider the record. In 2000, Scott Bessent left Soros to run $1 billion of his own. Five years later, the fund no longer existed. In 2015 he tried again with Key Square, co-founded with Soros alum Michael Germino and seeded with $2 billion of Soros money — which is a bit like failing your driving test and being handed a Ferrari. Assets peaked at $5.1 billion in 2017 and finished 2023 at $577 million. Institutional investors reportedly went from 180 to 20, a retention rate that would embarrass a gym in February. And in 2018, Soros — the man who staked him — took his chips off the table. When your own anchor investor would rather not watch, that is not typically a buy signal. Which brings us to the question: is the man now confidently dictating where oil, the dollar, Treasury yields, and stocks ought to trade a macro mastermind the market tragically failed to appreciate? Or did the market spend two decades doing its due diligence on him — and sell? He believes he’s smarter than the market. The market already graded that exam. Twice.

I stand with Mark Carney. The people of Canada need to know that the majority of Americans are anti-Trump and working toward regime change & return to friendly ties with our northern neighbor. 🇺🇸🇨🇦

Trump, 2024: "Tariffs will lower prices." Trump, 2026: "I'm removing my tariffs to lower prices." Next time you're at the grocery store, remember that every economist on the planet warned you in 2024 that this is exactly where it would end up.

And she was whip smart. Like her father, Nancy was a lifelong Republican, but one from the old school, dedicated to the law, norms, and the constitution and serving to help her country and solve its biggest problems. 2

I was deeply saddened to hear that Nancy Kassebaum Baker died today at 94. I had the honor, privilege, and pleasure of knowing her and working with her during her time in the Senate. She truly was a model of what we want in public service, thoughtful, decent, dedicated. 1

Pay attention to actions, not rhetoric: Sen. Ron Johnson is the author of a budget just this month that envisions public debt rising from >$41 trillion to >$58 trillion in a decade. His name is on the document and the numbers are explicitly written out.