Is this social media's tobacco moment? The judgment against Meta and Google

*POD*
me + @robarmstrong.bsky.social but also, crucially, @mshannahmurphy.bsky.social at Very Early O'Clock in SanFran, on the social media lawsuits, featuring:

- throwing the book at Zuck
- weird witch coffee
- shameless self-promotion by Rob (shocking, I know)
- ANTM

www.ft.com/content/5a73...

Hegseth doubled down on this megataco, saying that the strait is other countries' problem. Could just be the usual BS, but still mind boggling.

I have said, repeatedly, that in war Trump will not be able to Taco. This headline suggests I could be wrong. Holy crow.

woah

If there was a movie with Bill Murray about the terrible horrors of dementia I'd be first in line. I can think of no better actor to play either patient or caregiver.

Rob writes a newsletter about markets in an economic superpower, I write a newsletter about politics in a country entering its third lost decade, hence my more maudlin disposition.

A portrait photo of a boy. His face is in the central point of the frame. He has dark short hair. He is wearing a sweater zipped unto his neck. He is looking straight into the camera.

29 March 1933 | Polish Jewish boy, Serge Radzyner, was born in Warsaw. He emigrated to France.

He was deported to #Auschwitz from #Drancy on 14 September 1942. He was murdered in a gas chamber after the arrival selection.

Or a more scandalous but terribly boring one in which they have gotten together and enjoyed 25 years of perfect happiness? These things do happen.

The rout in UK and European bonds

POD!
me and @iankmsmith.ft.com on the bad times in UK and European bonds, including:

-why it's easy but also a bit silly to blame hedge funds
-why you need to care even if you think bonds are boring
-Harry Potter
-boy kibble

open.spotify.com/episode/1BT7...

Why are markets listening to Trump?

POD O CLOCK
me and @robarmstrong.bsky.social , both a bit sniffly to be honest, on:

-why do investors listen to the president?
-nobody knows anything
-although some oil traders got hella lucky?
-Short kings
-British compliments

open.spotify.com/episode/3aUJ...

Why are markets listening to Trump? — Unhedged When President Donald Trump talks, markets listen. But why? Today on the show, Katie Martin and Rob Armstrong try to figure out if the markets really are chasing the news and if that makes any sense w...

I thought @robarmstrong.bsky.social was using his serious voice when I heard him on the FT News Briefing this morning, turns out he just has a cold

As does @katie0martin.ft.com Get well soon both!

Great listen today on irrational kings, rational markets and rash trades

NICE

Real microphones and this will 100% work

why do you hate children emma

Do markets believe the president? Plus, gold as unsafe haven

"Just two weeks ago, the president declared the war with Iran to be “very complete, pretty much”" ... and every syllable out of the president’s mouth turned out to be nonsense"

by TACO-meister @robarmstrong.bsky.social
www.ft.com/content/16c1...

Where we are at with markets and Trump - from the latest Unhedged from @robarmstrong.bsky.social and @katie0martin.ft.com as.ft.com/r/53bc8677-7...

Gift of the artist and purchased with funds provided by Jo Carole and Ronald S. Lauder, Sarah-Ann and Werner H. Kramarsky, Mr. and Mrs. James R. Hedges, IV, Kathy and Richard S. Fuld, Jr. and Committee on Drawings Funds

Blue and White http://www.moma.org/collection/works/109763

Come for for the oil, stay for the snot

genuinely starting to think this should be in the school curriculum

as.ft.com/r/b006ca08-9...

Are the markets right or wrong about Iran?

POD O CLOCK

me and @robarmstrong.bsky.social on Iran and markets and all that jazz, featuring

-bad vibes 😢
-a "big but" 🤔
-quarterly reporting 🤓
-Introspection 😆

open.spotify.com/episode/7cBG...

thanks Sean!

Why Donald Trump is obsessed with this Chicago-based shoe label [FREE TO READ] The president may buy Florsheim’s cap-toe Oxfords for his cabinet members. But its parent company is suing his government over tariffs

My piece on the Florsheim affair:

"In principle, the president hates globalisation. In practice, just like the rest of us, he wants a nice affordable pair of shoes. For his subordinates to wear. In the wrong size."

as.ft.com/r/52057923-5...

I mean, this will never work. Why don't the networks tell the clown to go pound sand? Are they so spineless?

Boy sitting on a chair, smiling and wearing a striped tie and high socks.

15 March 1938 | A Dutch Jew, Leo Samuel Drukker, was born in Amsterdam.

He arrived at #Auschwitz on 5 March 1944 in a transport of 732 Jews from Westerbork. He was among the 477 people murdered after selection in a gas chamber together with his mother Mietje and father Joseph.

can't rule it out

Uncomfortable moments in private credit

POD O CLOCK

how worried do we need to be about private credit?

I discuss with @robarmstrong.bsky.social and @antoinegara.bsky.social

Featuring:
-normal people 😊
-bad headlines 📰
-v cross private credit people 😡
-iNnOvAtIoN 🤪
-Slava Ukraini 🇺🇦

open.spotify.com/episode/7tZv...

nope

Visa & Bank of America highlight resilience of US consumer in face of everything thrown at them. While $V disputes K-shape, citing decent spend even at low end, both $V & $BAC see solid credit quality across income cohorts. $MA $AXP $XLF $XLY $WMT $TJX $AMZN $DG

I asked President Trump about the FBI reportedly seizing election records in Arizona. He said they must have done that because it was a “rigged” election. I pointed out to him that his own AG said there was not measurable voter fraud to overturn that election. Then he called me a rotten reporter.