Joey Politano 🏳️🌈
@JosephPolitano
Writing a data-driven newsletter about economics @ | Nuance? In this economy? | Full Employment Stan, Brazilian Coffee Tariff Victim
1.5K Following 93.7K Followers
Sorry, but this is the most obviously AI-generated op-ed ever. It has "it's not X, it's Y" construction in both the first 2 paragraphs. Pangram has it as 100% AI
One of the most prominent finance billionaires submitted this? The WSJ just ran it? Are there no standards anymore?
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every 6 months the Trump administration realizes lowering tariffs will lower prices, applies this insight to one specific good, and then proceeds to never introspect beyond that. It’s honestly beautiful in its stupidity.
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Heartwarming: this 95 year old diner still makes tacos the old fashioned way
The core economic pitch for Trump's mass deportations was "fewer immigrants means more jobs for Americans"
Unsurprisingly, that's just not happening
Prime-age employment rates for native-born Americans fell to the lowest levels in more than four years in data released today
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The US tech sector continues bleeding jobs—official data released this morning shows employment dropped by 4k last month and is down 42k over the last year
That's not as bad as the worst of the 2024 tech-cession, but extremely bad compared to the 2022 boom or even pre-2020 norms
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NEW US JOBS DATA:
Non-farm Payrolls: -23k
Unemployment Rate: 4.1% (-0.1%)
Prime Age (25-54) Employment-Population Ratio: 80.4% (+0.2%)
Average Hourly Earnings: +0.1%
June US transit data is in today, & all of the 10 largest US rail networks are growing! SF is seeing a real boom, with ridership up 16% on Muni & 14% on BART
SEPTA (Philly, 9.1%) and PATH (NY/NJ, +8.7%) are also seeing strong growth, while MTS (San Diego, +1.4%) is the slowest🧵
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June US transit data is in today, & all of the 10 largest US rail networks are growing! SF is seeing a real boom, with ridership up 16% on Muni & 14% on BART
SEPTA (Philly, 9.1%) and PATH (NY/NJ, +8.7%) are also seeing strong growth, while MTS (San Diego, +1.4%) is the slowest🧵
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America's COVID-era warehouse boom is truly over—real US warehouse construction has fallen to the lowest level since 2019 in official data released today
It's down nearly 40% since its 2023 peak and is down 12% over the last year alone
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Official data was released today, and after adjusting for inflation, American office construction has fallen to the lowest level since 2011
It's down nearly 60% since the onset of the pandemic and 15% over the last year alone
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American factory construction continued declining in official data released today as CHIPS Act projects finish, IRA projects get cancelled, and tariffs weigh on nearly all industries
Total US factory construction is down 32% from its 2024 highs and 22% over the last year alone
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US data center construction reached another new record high in official data released today, exceeding a pace of $68B/yr (and this only includes data center facilities, not the expensive computers within)
Spending is up 46% over the last year and 392% since ChatGPT's launch
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US real factory construction continued declining in data released this morning, as CHIPS Act projects complete, IRA projects get cancelled, and tariffs weigh on investment
Total manufacturing construction is now down more than 25% from its 2024 highs
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US electricity investment inched up to another record high in official data released this morning
Solar/Wind investment continued hitting new highs, transmission & distribution investment rebounded from its 2025 declines, while traditional gas/coal construction remains stagnant
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NEW from me:
Americans are set to lose nearly $250B gambling this year—a record high, up more than 60% since 2019—and that's before counting unofficial betting via prediction markets or crypto
Can anything stop America's gambling boom? 🧵
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