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Bonus 228: The $1.776B Political Question
Every so often a story comes along that is so brazen, so cleanly emblematic of the moment we are living through, that staying quiet about it feels like a kind of complicity unto itself. Monday’s announcement by the Department of Justice that the Acting Attorney General has unilaterally created a $1.776 billion “Anti-Weaponization Fund” to compensate so-called “victims of lawfare” is one of those stories. And the reason I want to write about it here, in a newsletter ostensibly devoted to the Supreme Court and the law and politics surrounding it, is that I’m increasingly worried that we’re asking the wrong institution to save us from one of the most offensive, alarming, and anti-constitutional things we’ve seen from any president in American history. As I explain below the fold, the Anti-Weaponization Fund is not principally a legal problem awaiting a judicial fix. It is a shockingly egregious political abuse—the President suing his own government, purporting to settle with himself, and routing nearly $2 billion from the Treasury to his own supporters as a not-so-subtle (and not-so-formal) reward, if not an incentive, for political violence. And the Constitution’s answer to political abuses of this kind and magnitude is a political remedy, not a legal one. In his majority opinion in NFIB v. Sebelius (the Affordable Care Act case from 2012), Chief Justice Roberts defended the Court’s endorsement of Congress’s power to adopt the individual mandate by noting that it is “not our job to protect the people from the consequences of their political choices.” As much of a judicial supremacist as I am, that sentiment is, for better or worse, an entirely correct (and, in the long term, normatively desirable) institutional assessment. One can believe in substantial judicial power without believing that literally every political dispute in our country can and should be resolved by unelected judges. The real upshot of this latest headline (among so, so many other similar headlines) is that it is past time to reinvigorate impeachment—not because conviction is realistic in this Senate, or even because impeachment itself is feasible in this House, but because forcing every member of Congress to vote on the record whether this brazen, corrosive, and affirmatively dangerous corruption is impeachable is itself a point worth fighting for (and fighting with our friends over). Assuming the courts will save us absolves our political leaders of both responsibility and accountability for allowing this kind of mischief to continue, and it absolves all of us of our responsibility to refuse to tolerate those who would just as quickly shrug their shoulders and move on. For those who aren’t paid subscribers, we’ll be back (no later than) Monday with our continuing coverage of the Supreme Court. For those who are, please read on.
Natural Food Colors Embraced by MAHA Linked to Health Problems
Natural food colors—not just artificial dyes—are associated with an increased risk of Type 2 diabetes and cancer, new research shows..
The billion-dollar bite: Lyme vaccines hit the market
The following companies are leading this vector-borne boon, each tackling the problem from a different technological angle:
Seattle legend Scott Fitzsimmons shares what finally drove his businesses out of WA
Scott Fitzsimmons said he's been planning the move out of Seattle since 2019 and that a series of problems has finally driven him out.
Interstellar's most-discussed scene is treated as exotic science fiction, but the family-separation problem it dramatises is one of the more actively studied subjects in long-duration mission planning.
The scene that has stayed with most viewers of Christopher Nolan’s Interstellar is not the wave-planet, or the visualised black hole, or the climactic library of moments. It is the one in the middle of the film where Matthew McConaughey’s character, Cooper, watches twenty-three years of his children’s recorded video messages, having lost that span […]
Election Year Politics Killed Oklahoma’s Eviction Reform Bills, Advocates Say
Oklahoma's tenant protection bills failed this legislative session, leaving renters without new legal remedies against problem landlords. House Bill 2015, which would have given courts power to hold landlords accountable for habitability failures, stalled, as did an eviction timeline extension bill. Advocates blame election-year politics and landlord influence at the Capitol.
Google's AI is being manipulated. The search giant is quietly fighting back
A BBC investigation revealed a simple way to get AI chatbots to spit out misinformation. Google and other AI companies are now trying to fix the problem.
Colorado’s prisons are underfunded, not overcrowded
By John Kellner The state does not have a “prison crowding” problem. It has a prison under-capacity problem. This is a crucial distinction for lawmakers and the public to understand. If it is not properly understood, the state risks falling into the same kind of criminal justice system spiral that mistakes leniency for clemency. This […]
Exclusive: Airbus targets 10% cost cuts over global uncertainty and supply snags
Europe's Airbus is telling thousands of staff to reduce spending by 10% as global uncertainty and supply chain problems continue to squeeze its core jetliner business, three industry sources said.
People who lost the most weight on Ozempic saw huge health benefits
People who lost significant weight while taking Ozempic, Wegovy, Mounjaro, or Saxenda had sharply lower risks of major obesity-related health problems, including sleep apnea and kidney disease. Those who gained weight instead faced higher risks — especially for heart failure — even though many patients discontinued the medications within a year.
Perimenopause took me by surprise. That's exactly the problem.
Despite being proactive about my health, perimenopause was never discussed with me. So, when it happened, I couldn't identify it.
Why There’s Still No ‘Science of Reading’ Equivalent for Math Instruction (Opinion)
A leading curriculum designer lays out the biggest problem in math instruction today.
U.S. Senate to examine sports gambling’s ‘mental health crisis’
Americans wagered a record $165 billion on sports in 2025, while nearly 20 million people reported "problematic gambling behavior."
Problematic hinge could delay the iPhone Fold
A new rumor claims that the iPhone Fold's reported testing delays are because of significant issues with the hinge that could prevent Apple from launching it in 2026.
Texas politics has a bigger antisemitism problem than District C
Joe Panzarella’s runoff win came despite a late attack over a CAIR endorsement, but other Texas candidates deserve far more serious scrutiny over antisemitism, writes Opinion Editor Evan Mintz.
Wearables increasingly look to AI to predict health problems before they happen
Companies worldwide are studying the potential for technology to predict health events. This would push boundaries of data collection and information sharing.
New MatterChat Model Helps AI to ‘See’ the Language of Science
From writing emails to generating computer code, much of the artificial intelligence prevalent in our daily lives has succeeded by mastering one domain: text. However, this leaves a major blind spot in the physical sciences, where models depend on the high-resolution, three-dimensional data of the physical world, like the intricate lattice of atoms in a crystal. Delivering on the promise of using AI for science requires teaching these data-driven text models to seamlessly “talk to” physics-based models. Now, a new AI framework from Lawrence Berkeley National Laboratory (Berkeley Lab), called MatterChat, solves this problem by creating a specialized “bridge.” It connects the conversational power of a Large Language Model (LLM) with a physics-based AI that models “interatomic potentials”: the complex physical forces between atoms. The resulting system already significantly outperforms general-purpose AI tools like GPT-4 at predicting material properties, and the team hopes it can accelerate scientific discovery by serving as a robust research partner that provides grounded insights and generates step-by-step instructions for synthesizing novel materials. A paper describing this work was recently published in Nature Machine Intelligence. “Traditional simulations can provide the physical rigor required for materials science, yet their computational cost remains prohibitive for high-throughput screening. Conversely, while LLMs excel at rapid knowledge synthesis, they inherently lack the ‘structural vision’ to interpret materials directly from their underlying atomic coordinates,” said Yingheng Tang, a postdoctoral researcher in Berkeley Lab’s Applied Math and Computational Research Division (AMCR) and lead author on the paper. “MatterChat was built to solve this dilemma, empowering LLMs with a structural ‘vision’ that allows researchers to leverage their full potential for solving complex, real-world materials challenges.” Empowering language models to solve complex challenges in materials science To build MatterChat, the Berkeley Lab team drew inspiration from technologies like Vision Question Answering (VQA) and Text-to-Image (T2I) generation. In these tasks, AI must translate high-level text concepts into visual images, or vice versa. Doing so requires developers to build tools that “bridge” two fundamentally different forms of data. The researchers adapted this concept to the physical sciences. With MatterChat, they created a “bridge model” that successfully connects an LLM’s general knowledge with the deep understanding of the atomic-scale world encoded in scientific interatomic potentials. Until now, researchers using LLMs to solve materials problems usually had to feed them raw data files as if they were just strings of text. It’s like asking an AI to understand a complex 3D engine based only on a parts list: the LLM can read the names, but it can’t “see” how the atoms fit together in space. MatterChat solves this by training a specialized AI bridge model, pre-trained on millions of crystal structures and an LLM, to align the LLM’s representation of the world with the interatomic potential’s representation of the world. The bridge model can translate physical insights into a format the LLM can actually understand. By giving the LLM these “scientific eyes”— a scientific “inductive bias” in the terminology of AI — the Berkeley Lab team has transformed it into a robust research tool capable of providing grounded scientific insights into complex materials challenges, such as predicting thermal stability or analyzing electronic band gaps. “We think of atoms as living in a physical space, but from a machine learning perspective, they are just vectors living in some very non-trivially structured manifold in a high-dimensional Euclidean space; and, of course, the same is true for the sentences and paragraphs that we use to express our ideas about those atoms,” said co-author Michael Mahoney, Berkeley Lab’s Scientific Data Division (SDD) AI Initiative Research Lead. “The bridge model basically gets those two structures to ‘talk with’ each other.” As a proof-of-concept of this general approach, the team trained their bridge model on a dataset curated by pairing nearly 143,000 stable atomic structures from the Materials Project with their corresponding physical properties. This training data was automatically assembled using the Materials Project’s API and deliberately enriched with properties fundamental to microelectronics design — like formation energy and bandgap — allowing MatterChat to learn the complex patterns connecting a material’s atomic blueprint to its functional performance. To validate their model, the researchers benchmarked MatterChat against a suite of other AI systems, from general-purpose LLMs to other specialized scientific AI methods. The results show that MatterChat consistently outperformed its competitors across a range of tasks. The model was more accurate in classifying material types and demonstrated superior precision in predicting numerical properties. For example, it excelled at predicting a material’s bandgap, a property critical for designing new electronics from high-capacity energy storage to next-generation computer chips. “Our design is significantly more efficient because we don’t have to build a massive AI model from the ground up,” said co-author Zhi (Jackie) Yao, a research scientist in Berkeley Lab’s AMCR. “Instead, we take two powerful, pre-trained models — a structural encoder for materials physics and an open-source LLM — and use them off-the-shelf. The only component we actually train is the lightweight ‘bridge model’ that translates between them. It’s the difference between building an entire car factory and simply designing a smart adapter that connects a world-class engine to a world-class navigation system. This approach is not only computationally efficient, but also makes the system modular, so we can easily upgrade components or adapt the bridge for other scientific domains in the future.” Crucially, this modular design highlights exactly how institutions like Berkeley Lab and the Department of Energy are carving out a highly valuable niche in the booming AI landscape. Rather than competing with Silicon Valley tech giants to build ever-larger language models from scratch, the lab is focusing on the specialized connective tissue that makes commercial AI useful for hardcore science. Because the bridge model approach underlying MatterChat is forward-compatible, it is perfectly positioned to leverage these parallel tracks of innovation. As Mahoney pointed out, “We expect that industry will continue to develop improved LLMs, and we expect domain scientists and facilities will continue to generate new data. An important part of scientific machine learning is not simply to solve problems on today’s data, but instead to develop general methods that will be forward-compatible with orders of magnitude more data, whether from scientific domains or from LLMs.” According to Yao, the MatterChat project, which was initially developed and enhanced with funding from a Berkeley Lab Laboratory Directed Research & Development (LDRD) Program, will now expand its capabilities. In a collaboration with Fermilab, MatterChat is already contributing to a U.S. Department of Energy Genesis Mission project — called Accelerating eXtreme Environment Specs-to-Silicon (AXESS) — that aims to speed up the development of next-generation, high-speed, radiation-hardened detectors for challenging particle physics experiments by using advanced 3D integrated circuits (chiplets) and AI-driven data analysis. In addition to the LDRD support, the team also credits supercomputing resources at the National Energy Research Scientific Computing Center (NERSC), located at Berkeley Lab, with MatterChat’s success. “We are incredibly grateful to NERSC; this research simply would not have happened without access to the Perlmutter supercomputer through their AI for Science program,” said Tang. Wenbin Xu, a NERSC postdoctoral fellow at the time, was also a major co-author of the work, as was Benjamin Erichson, a research scientist in Berkeley Lab’s SDD, highlighting the benefits of AMCR-SDD collaboration on AI for science. ### Lawrence Berkeley National Laboratory (Berkeley Lab) is committed to groundbreaking research focused on discovery science and solutions for abundant and reliable energy supplies. The lab’s expertise spans materials, chemistry, physics, biology, earth and environmental science, mathematics, and computing. Researchers from around the world rely on the lab’s world-class scientific facilities for their own pioneering research. Founded in 1931 on the belief that the biggest problems are best addressed by teams, Berkeley Lab and its scientists have been recognized with 17 Nobel Prizes. Berkeley Lab is a multiprogram national laboratory managed by the University of California for the U.S. Department of Energy’s Office of Science. DOE’s Office of Science is the single largest supporter of basic research in the physical sciences in the United States, and is working to address some of the most pressing challenges of our time. For more information, please visit energy.gov/science.
With potential split from CSC on the table, college sports leaders struggling to find solutions to money problems — 'The Big Ten and SEC should break away and do their own deal'
Rangers’ Corey Seager is sidelined again by back spasms and has an MRI
Manager Skip Schumaker said Seager had an MRI on Sunday morning to make sure it's only back spasms that are causing the problem.
Column: Jack up taxes on California's rich? Popular liberal mantra, but bad idea
Sticking it to the rich sounds nice, but doesn't fix the problem
Is Britain becoming ungovernable?
Difficult trade-offs ahead require a leader who can ‘switch off all the noise and fixate on the real problems’
Small-Business Banking Has a Segmentation Problem
The term “small business” has traditionally functioned as a sort of economic shorthand. Banks, payment companies, FinTech firms, and even policymakers
Legislation to stop funding for Rochester sports complex will not advance
Rep. Greg Davids (R-Preston), the only Republican co-author on the bill, said there was a “real problem” in determining how the bill could be put together to stop the project.
Choose your own adventure: A Business Data Analytics alum goes looking for problems
Jeremy Harris’ love of puzzles and a fascination with cybersecurity took him from Army signals intelligence to building an award-winning IT firm in West Virginia.
When politics enter the picture, credentials take a back seat
Most Americans know what a real expert's credentials look like: relevant degree, years of experience, and respect from peers. The problem, according to a study recently published in Scientific Reports, ...
No one's happy in Silicon Valley, Menlo Ventures partner says
More money, more problems, as they say. Menlo Ventures partner Deedy Das paints a bleak picture of the mood in Silicon Valley right now.
Metabolic health emerges as key to brain and memory problems in bipolar disorder
While they share similar depressive and cognitive symptoms, the biological underpinnings of bipolar disorder and major depressive disorder are distinct. A novel study appearing in Biological Psychiatry: ...
Max Verstappen: Red Bull F1 driver plans Nurburgring 24 Hours return after reliability costs his team chance at win
Max Verstappen was on course for a remarkable win on debut at the Nurburgring 24 Hours but his car suffered a problem when in contention for victory in the closing hours of the race; watch the Canadian Grand Prix Sprint weekend from this Friday, live on Sky Sports F1
Scientists May Have Solved Two of Fusion Energy’s Biggest Problems at Once
Scientists have demonstrated a new plasma operating regime that could help solve two of fusion energy’s biggest challenges at once.
10 Gems of Bluesky Today
Greetings everyone. I’m writing this from my phone, which is doable, but a little clunky. One problem is that I can’t see image attributions from the image library, so I apologise in advance that I…
What Your Brain Is Actually Doing While You Doomscroll, According to Science
If you find yourself endlessly scrolling as you maneuver through the various landmines intent on detonating your attention span, it could mean that you have some kind of digital addiction problem. But it could also mean your mental focus is so strong that you’ve quietly figured out how to treat social media like an external […]
The ungovernable country? Why Britain keeps losing prime ministers
May, Johnson, Truss, Sunak, and now perhaps Starmer: each one was brought low for a reason. But what if the deeper problem is the office itself?
How outbreaks at sea have been helping to shape the global health system since medieval times
Outbreaks at sea are one of the oldest problems in public health. From medieval plague quarantines to modern times, they have repeatedly tested the ability to control infectious disease – and have played a key role in shaping the international public health framework in place today.
Digital piracy is on the rise and the entertainment industry is losing billions
The industry faces a growing problem that’s comes at a high cost
NBC Sports’ betting experts give their best bets for the Preakness
No Kentucky Derby winner? No problem. These are the horses worth wagering on Saturday.
Political analyst says Schlossberg has some ‘serious problems’ as the Kennedy heir’s campaign flops
Political analyst Matt Towery analyzes Jack Schlossberg’s, grandson of former President John F. Kennedy, troubled congressional campaign on ‘The Ingraham Angle.’
Microsoft to automatically roll back faulty Windows drivers
Microsoft is introducing a new Windows Update capability that will allow it to remotely roll back problematic Windows drivers delivered through Windows Update.
Health care's solvable problem: maternal mortality
Making a dent in maternal mortality stands out for its bipartisan support and lack of downsides.
AI research papers are getting better, and it’s a big problem for scientists
Journal editors and peer reviewers are being flooded with AI-generated papers that are almost impossible to detect.
Chartbook 449: Voldemort on Threadneedle street. The Bank of England and the "haunted house" of English politics.
Imagine the scene: In some Harry Potter version of 21st-century London, a group of deathless UK Treasury officials gathered from across the last century huddle over warm pints and glasses of Chardonnay. Around the table there are officials from the 1920s, the 1930s, the 1970s, 2022 and today. Inevitably, in May 2026, the subject of conversation is the disintegration of the current Labour government. Despite its huge majority in parliament, it has been reduced to tatters by catastrophic local election result. These exposed the fact that rather than having a government with a clear popular majority, the UK is like most other modern societies divided into 5 segments each of which commands between 26 and 16 percent of the vote. Perhaps unsurprisingly, the leadership at Nos 10 and 11 Downing Street - where the Prime Minister and the Chancellor (Treasury Secretary) work - seem paralyzed. They are caught between mounting discontent over unfairness and the cost of living, and tough fiscal strictures that push them into making unpopular spending decisions. In the London pub, the Treasury officials from across the ages, can barely hide their satisfaction at the latest display of democratic politics caught in the vice-grip of financial logic. “Remember the mur d’argent and the banker’s ramp?” “Just like yesterday!” There are smirks around the table. Then the representative of 2026 pipes up: “One thing you have to say about the current lot (referring to the latest hapless Labour government), you don’t have to teach them about the bond market!” There is a murmur of ascent from the Treasury Mandarins. The trauma of the fiscal crisis of September-October 2022 sits deep. Back then, in the final stages of Tory decay, a ‘mini budget’ that challenged fiscal orthodoxy led to a brief but fierce panic in one of the oldest government bond markets in the world (aka gilt market). Now all you have to do is to mention the “bond market” to hush debate. [ Paul Mason@paulmasonnews In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/ 3:57 PM · May 12, 2026 · 466K Views 224 Replies · 674 Reposts · 3.93K Likes ](https://x.com/paulmasonnews/status/2054229532404519082?s=20) “And the funny thing is”, the young man in the huddle continues, “they don’t even want to talk about … ”. There is a sudden hush. Significant looks are exchanged around the table. About? One of the senior figures puts down his glass with a decisive “clink”. He-Who-Must-Not-Be-Named has entered their thoughts. Meanwhile, a few miles away in a grubby pub in Bloomsbury, two conspirators from the camp of Critical Macrofinance huddle over cans of low-alcohol IPA. They look at each other and blurt out loud: “The Bank!” “Everyone in the bloody Labour party is talking about the bond market. But why aren’t they even mentioning … the Bank of England!?” “Why is no one talking about Voldemort?” In Paul Mason’s blogpost, after much chest-thumping about basic fiscal logic, the basic point about the Bank of England is buried in the fine print at #3 in his list of suggestions as to what a radical Labour government might actually be able to do! [ Conflict & Democracy Down with the bond market! Down with gravity! It may seem unfair to focus on Labour MP Paula Barker for her off-the-cuff assertion that the bond market would have to “fall in line” with Andy Burnham, should he replace Keir Starmer as prime minister. But Burnham himself told the New Statesman that Labour had to “get beyond this thing of being in hock to the bond markets… Read more 2 days ago · 100 likes · 3 comments · Paul Mason ](https://htsf.substack.com/p/down-with-the-bond-market-down-with?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Back in Bloomsbury they shake their heads and ask: “Didn’t we learn anything from the Eurozone crisis?” Meanwhile, as if summoned to the conversation by some higher force, the “pink pages” announce: “The days of ultra-cheap government borrowing have come to an end” and Martin “Whizzard” Wolf publishes the graph of the season Look at the UK in 2026, perilously positioned on the upper edge of the pack. No wonder no one in London needs any lessons about the “bond market”. But, look again. Imagine how they feel in Rome. What is London’s nightmare in 2026? The nightmare is that you end up like Italy in the early 2010s during the Eurozone crisis. Once comfortably situated in the middle of the pack, watching with horror as your ten-year yields explode to 7 percent and “spreads” become a national nightmare. One of the largest economies in Europe, a founding member of the euro, stigmatized. But the message of the Italian experience is ambiguous. After all, the stigma didn’t last. In 2026, Italy borrows at rates lower not only than the UK but the US. The US, which, as everyone knows, enjoys the “exorbitant privilege” of being the issuer of reserve, safe asets. What kind of magic is this? How did Italy, in the space of fifteen years, go from being good, to bad and back again? Which brings us back to our dissident friends in their Bloombury boozer and their memories of the Eurozone crisis. Italy never was Britain - with its ongoing fiscal deficits. Without interest payments, on primary balance, from 2000 to 2020 Italy ran a tight fiscal ship. Even in 2008 it barely went into deficit and when it was being put on the rack in the early 20210s its primary surplus matched that of austere Germany. So, what happened? How did it end up stigmatized? Of course Italian politics didn’t help. Berlusconi was at the helm and he had legal issues. But amongst friends in the Bloomsbury pub, Berlusconi is a sideshow, the name we whisper to each other is “Trichet”. From 2004 to 2011 the ECB was headed by Jean-Claude Trichet, ex of the French Treasury, more German than the Germans. After 2009 as the news of the Greek fiscal disaster broke, the European bond markets wento into panic mode and Trichet began a brutal game of cat and mouse. Between 2009 and 2011, Trichet intervened in the bond market to help, only when he thought he had compliance with austerity. When he thought they were uncooperative, he withdrew. In the summer of 2011, he even made direct suggestions to his Italian counterparts in Rome, as to how Italy should be governed. It was this cat and mouse game that drove the bond markets crazy and exposed Italy to a violent squeeze. When Mario Draghi took over the ECB at the end of 2011 and declared “whatever it takes”, the pressure on Italy, gradually eased. It is that starring role that has made Draghi into the towering figure in European politics that he remains today. So now you see why voices in London hush when it comes to the Bank of England. “The bond market” isn’t an irresistible objective force like the weather or an avalanche. It can appear like that. But that depends on the way it is being handled, or not handled by the central bank. Which is why the silence about the Bank of England in London right now is so significant. If you think this all sounds a bit fishy, coming from a left-liberal Keynesian like myself, well, let me introduce you to Robin Brooks, who, to put it mildly, plays on a different quidditch team to me. Here, from the position of a fiscal hawk is Robin’s celebratory account of the Bank of England’s role since 2022; In October 2022, at the height of the bond market blow-up in the UK, something incredible happened. Governor Andrew Bailey told British pension funds the Bank of England would end its support program for the country’s fragile gilt market, drawing a line under how much help the central bank was willing to give to exposed pension funds and - implicitly - the government. By the end of that week, Kwasi Kwarteng - the finance minister - had resigned. Prime Minister Liz Truss would soon follow. This episode is so incredible because it contrasts with what happened in the Euro zone earlier that year. Bond markets in Spain and Italy were under pressure amid high inflation and rising interest rates. In the middle of this, Mario Draghi - Italy’s Prime Minister - resigned, compounding pressure on bond markets of high-debt countries on the Euro periphery. Unlike the Bank of England, the ECB caved. It bought Italian and Spanish government bonds in an effort to cap yields and introduced a new tool that signaled to markets it might do such caps more frequently going forward. Faced with pressure on bond markets, the ECB capitulated to political pressure from high-debt countries like Italy and Spain. The Bank of England stood its ground and toppled the Truss government. This kind of thing has long-lasting consequences. It means markets price a higher probability of yield caps in the Euro zone, which keeps Italian and Spanish yields artificially low, while markets feel free to push up UK yields without fear of central bank intervention. As I flagged in yesterday’s post, this means you really can’t compare UK yields to those of other high-debt countries. The UK looks worse, but only because its central bank isn’t interfering with markets. There’s more to this than just that 2022 episode. The Bank of England has also been much more aggressive in its quantitative tightening (QT) than other central banks. If one motivation for quantitative easing (QE) is to lower bond yields - especially longer-dated ones - then it stands to reason QT pushes yields up. The left chart above shows a four-quarter moving average of UK government debt issuance (black line) in percent of GDP and which sectors absorb this issuance, including the Bank of England (blue bars). The right chart above compares the Bank of England’s accumulation or run-off of government bonds (blue line) with that of other central banks, where this blue line is the same as the blue bars in the left chart. The Bank of England was quicker and more aggressive than other central banks in downsizing its bond holdings, so UK yields will have risen more than elsewhere also for this reason, not just because of Governor Andrew Bailey’s remarks in October 2022. Back in October 2025, after a conversation in New York with friends in British politics, my sense of dysphoria was such that I raised the issue of the Bank of England openly in the FT Since 2008, the UK has slid into a deep economic and political predicament. Growth has stagnated to a degree far worse even than in the 1970s. The Tory leadership’s wager on the Brexit referendum spectacularly backfired, leaving the UK isolated from Europe and at the mercy of its special relationship with the US, many of whose political class regard the UK as a basket case. After years of austerity, the Labour party lurched to the left and then back to the centre. The Tory party has been eclipsed by the populist nationalism of Reform. Any British government should be worrying first and foremost about how to restart growth. Instead, Keir Starmer is beset by shades of the gilt market panic triggered by the Liz Truss government in 2022. The debt level is higher than in recent years, but there is no cause for panic. UK debt is at far from critical levels and of long duration. Whether you want to “take back control” or launch progressive economic policy, a democracy dogged by fear of bond market vigilantes is unhealthy. In a country that is a monetary sovereign, this climate points to one thing: a disconnect between the government and the central bank. Since 1997, the independence of the Bank of England has become a sacred cow. But independence is what you make of it. And in the wake of the gilt market crisis of September 2022, relations between the Bank of England and the UK government need a reset. In normal times, there is no doubt that an inflation-targeting independent central bank can serve a country well. But since 2008, the UK and other advanced economies have not had the luxury of such simple problems. To their credit, central bankers around the world have not stood on orthodoxy. After 2008, the US Federal Reserve rescued the global banking system and, through quantitative easing, it stabilised the Treasury market in the face of huge deficits. In Europe, things were trickier. Both the Bank of England under Mervyn King and Jean-Claude Trichet’s European Central Bank played cat and mouse with national governments. This was a high stakes wager that between 2010 and 2012 escalated bond market tension and triggered a disastrous turn to austerity. Shaken by the impact of those shocks, their successors, Mark Carney and Mario Draghi adopted a more protective stance (assuming you were not the government of Greece). Recall that Draghi’s legendary slogan, “Whatever it takes”, was uttered to face down the City of London’s bond vigilantes. In 2015, Draghi launched QE — financial repression by another name. In 2016, Carney used the authority of the Bank of England to stabilise markets following the vote for Brexit, an exemplary demonstration of how central banks can underpin democratic choice, even when those choices are wrong headed. All these were independent central bankers steeped in the best practice of the 1990s, who recognised that historic crises demanded radical action. It was the price surge of 2021-2023 that poisoned the atmosphere. Though the shock came mainly from the supply side, central banks ended up in the dock. Nowhere more so than in the UK. The Bank of England reacted with aggressive normalisation. Faced with a cost of living crisis, the governor called for workers to accept real wage cuts. In early 2022, as gas prices were at record levels and Russia’s army was poised to invade Ukraine, the Bank adopted a stringent programme of quantitative tightening, elevating interest rates. When the Truss government got itself in trouble, the Bank took almost a week to come to the rescue. Rather than enacting a charade of normality, it is time to recognise that in 2025 the UK faces a period of historic transition. To meet this challenge, what is needed is a new concordat with the Bank. This should not ignore inflationary pressures or the long-run trajectory of debt, but should affirm the priority of reviving investment-led growth. One could follow Donald Trump in demanding interest rate cuts. The Bank could shadow the ECB in its commitment to capping Eurozone yields. But the top priority should be to lay the ghost of September 2022. The Bank’s slowing of QT last month was a concession. An immediate and complete end would send the right signal. Such a concordat will not by itself restore sanity to politics, solve the housing problem or rebuild the NHS. But it would help to lift the fear of bond market crisis, which is paralysing the effort by democratic politicians to answer the fundamental questions facing the nation. Now, that call for a new concordat between government and Bank of Englands seems more urgent than ever. The problem is that in October 2025, Starmer still had some authority. Today the government is in tatters. And when you are the “under the harrow” - to echo a phrase of Montagu Norman’s from the 1920s - it is the worst possible time to consider institutional change. To make general arguments at a time of crisis can only seem like special pleading rather than a general argument for long-term change. The same, unfortunately, is also true for the other basic institutional reform that Britain urgently needs i.e. the abolition of the out-dated first past the post electoral system and its replacement by a moderated form of proportional representation. And thirdly - whilst we are saying the quiet parts out loud - Britain needs to reopen the question of EU membership. What the local election results of 2026 show is that this remains a key issue. And what they also show is that there is a clear majority that would favor a return. Until these basic features of Britain’s political economy are addressed the country will carry on its politics as though in a haunted house, governed by governments that lack actual majorities, conjuring up false constraints whilst ignoring the real ones. This one is for DG and MI. I love writing the newsletter. If you enjoy it too and fancy buying me a coffee once a month, you know what to do. Click below! Subscribe
Grand Forks business owner uses humor to address pothole problem
A Grand Forks business owner is using social media to make light of a pothole problem she says is affecting her store and surrounding businesses.
Trump’s ‘financial situation’ gaffe underscores his Iran war problem
President Donald Trump has governed throughout his second term like a man who wields unconstrained power. It tends to prompt frustrations for him later when the approach runs headlong into reality.
Employee misconduct is becoming harder for companies to ignore
Rising workplace misconduct is becoming a growing concern for employers, with new research suggesting the problem may be rooted in shifting attitudes toward ethics and accountability, Inc. writes. A U.K. fraud prevention survey found notable tolerance for behaviors like expense fraud, moonlighting for competitors and even selling company login credentials, while a separate U.S. survey […]
From Maternal Health to Biodiversity: Graduate Research Fair Highlights
Fordham’s graduate students have long worked to solve problems that cut across disciplines. For the first time, they presented their research together at the University’s inaugural Graduate Research Fair, which
Scientists discover hidden math secret inside Chinese money plant leaves
Scientists have uncovered a hidden mathematical secret inside the leaves of the Chinese money plant: a naturally occurring geometric pattern known as a Voronoi diagram, something typically associated with city planning, computer science, and network design. By mapping tiny pores and looping veins in the plant’s leaves, researchers discovered that the plant organizes itself using the same kind of elegant spatial logic humans use to solve complex distance problems — without ever “measuring” anything.
Trump’s Chronic Health Problem Takes Center Stage on His Big Trip
The president is trying to assert himself as the world’s toughest leader—while covered in bruises.
Sterilization problems raised alarm inside Penn State Health
Internal records describe harrowing situations as Milton S. Hershey Medical Center struggled to keep a usable supply of sterile tools for surgeries last year.
Poland residents express concerns about tree business
Residents in Poland expressed concerns at a township meeting Wednesday evening about a tree business on Struthers Road they say is becoming a big problem.
Tunisia validated by WHO as having eliminated trachoma as a public health problem
The World Health Organization (WHO) has validated Tunisia as having eliminated trachoma as a public health problem. This is a major milestone in the country’s public health journey, coming after decades of sustained national effort.
Disgruntled researcher releases two more Microsoft zero-days
Security pros warn YellowKey claim could make stolen laptops a much bigger problem
Pollution may fuel depression, anxiety and other mental health problems, emerging research suggests
A growing body of research is showing how long-term exposure to air pollution may fuel depression, anxiety and other mental health problems, raising new concerns about the unseen toll of dirty air.
Fairground Entertainment Solves Streaming's "Scroll Fatigue" with Carousel: A New AI-Driven Content Format
Fairground Entertainment today announced the wide-market launch of Carousel, a first-of-its-kind AI content platform designed to transform streaming libraries into high-engagement, broadcast-ready entertainment. By automating the production of tailored "Discovery Shows," Carousel lowers subscriber churn and helps solve one of the industry's most persistent problems: the 12-minute 'decision paralysis' - the amount of time it takes to choose what to watch.
Is napping a sign of a deeper health problem?
New study finds link between certain sleep patterns and higher mortality in older adults.
Lane Kiffin vs. Lincoln Riley, can Penn State top 2025 Iowa State and Nebraska’s NIL case
Plus, is Josh Heupel's seat at Tennessee starting to warm? And college sports' spending problem.
Nick Coté, pursuing “frugal science” like paper centrifuges and origami microscopes
National Merit Scholar Nick Coté chose Nevada to pursue biomedical engineering and mathematics — and a mission to make science more accessible through paper centrifuges, origami microscopes and creative problem-solving.
Your Business Has a 'Strait of Hormuz' Problem—You Just Don't Know It Yet
The 2026 Strait of Hormuz crisis highlights how the lean operations that built your business might be making it dangerously brittle.
You should probably eat more fiber. Here's why — and how to do it
The average person eats 10-15 grams of fiber per day, according to the USDA. The problem? That’s WAY under the recommended daily amount. Fiber – a type of carb that our bodies are unable to digest – is prevalent in foods like fruits, veggies, whole grains, and beans. And it’s key for everything from feelings of fullness, to gut health, to good poop. That’s why a lot of people online are “fibermaxxing”: trying to meet or exceed the daily recommendation of fiber, in hopes it’ll improve their health. But how should YOU add fiber to your diet… and are the fibermaxxers overdoing it? Gastroenterologist Berkeley Limketkai is here to help parse the science on how little fiber is too little, how much fiber is too much – and, like Goldilocks, how we can figure out the amount that’s just right.Interested in more food and dietary science? Email us your question at shortwave@npr.org.Listen to every episode of Short Wave sponsor-free and support our work at NPR by signing up for Short Wave+ at plus.npr.org/shortwave.
Colorado is short thousands of mental health workers. A nonprofit is working to close the gap.
Part of the problem starts before clinicians ever see a patient.
Americans weigh in on their top concerns, but is Washington taking action?
Americans see money in politics, health care affordability, and inflation as the top problems facing the nation, according to a new Pew Research Center report.
AI is a leadership problem, not a technology problem
The AI implementation gap is a lack of connection between activity and business performance.
TSS: Business Improved, Same Core Problem
TSS delivered a 44% revenue decline, but higher-margin Systems Integration revenue surged 88%, driving GM expansion to 18%. Click for this TSSI stock update.
Mapped Out: Why Cyprus is NATO and Europe’s hidden problem
50 years after its division, Cyprus is back in the focus of the European Union, as Europe redraws its security strategy amid a changing world order. Could geopolitical tensions help unify the island?
‘My life is not affordable. No one cares’
CNN’s poll, conducted by SSRS, finds a surge in people naming high prices and the cost of living as the top economic problem facing their own family.
Personnel note: Brightwater Strategies Group boosts leadership team with Jason Andreotta
'Jason is a rare talent who combines a deep technical understanding of Florida’s environment with an unparalleled ability to solve complex problems.'
Golf’s Biggest Spectator Problem Is Becoming A 5G Business Opportunity
At the PGA Championship, connectivity is doing more than enhancing coverage, it’s positioning live sports as a proving ground for enterprise tech.
Americans See Health Care Costs, Deficit, Inflation as Big Problems Facing the Nation
Issues like money in politics and Republicans’ and Democrats’ ability to work together are also seen as very big problems across the political spectrum.
Americans See Health Care Costs, Deficit, Inflation as Big Problems Facing the Nation
Issues like money in politics and Republicans’ and Democrats’ ability to work together are also seen as very big problems across the political spectrum.
Trump Endorses Feeble Way to Lower Gas Prices
President Trump has endorsed suspending the federal gas tax, which won’t do much to solve the problem he created when he started the Iran war.
Cognitive scientists found using AI for just 10 minutes impairs brain performance
In new research from CMU, Oxford, MIT, and UCLA, having a GPT-powered assistant ripped away left people fumbling to solve math problems on their own.
Seattle small business owners devastated by break-ins as commercial burglary cases flood King County courts
Several defendants faced arraignment in King County court Monday on commercial burglary charges, cases that prosecutors said illustrate an ongoing problem devastating small business owners.
‘Your mental health problems are not caused by a simple thing’
Opinion, comment and editorials of the day
How social science helps keep bugs off corn
A new study suggests broad systemic problems play a significant role in disincentivizing corn growers from planting the refuge corn needed to keep pests from becoming resistant to the insect-killing traits ...
Scientists say this common sweetener may be quietly rewiring your metabolism
Researchers say fructose is not just “empty calories” — it may actively push the body toward fat storage and metabolic disease. A new review found that fructose affects the body differently from glucose, disrupting normal energy regulation and promoting processes linked to obesity, insulin resistance, and cardiovascular problems.
Suicide Reenters Top 10 Causes of Death as More Americans Are Experiencing Mental Health Conditions
May is Mental Health Awareness Month, a time to elevate the needs of the millions of Americans who have a mental health condition. The term refers to a wide range of conditions that affect mood, thinking, and behavior, which can cause distress and problems functioning in social, work, and family activities. This year, the awareness month arrives with sobering news: The U.S. mortality data published by the Centers for Disease Control and Prevention (CDC) revealed that suicide has replaced COVID-19 as the country’s 10th leading cause of death.
Yes, Apple Is Reportedly Retooling Some Liquid Glass Problems for macOS 27
But no, they’re not killing Liquid Glass.
Deepfake “doctors” are a problem—here are 7 keys to stopping them
There’s a need for clear, enforceable protections against unauthorized AI generated deepfakes that threaten patient safety. Learn more with the AMA.
Panthers find reason to worry about Xavier Legette
Carolina might have a problem.
ESPN identifies what went right for USC football this offseason
USC's positive offseason developments are mostly on offense, but the key is if defensive adjustments are able to solve problems
Growing Nashville: Resident-only parking sparks debate in 12 South business stretch
Parking problems are erupting in Nashville’s 12 South neighborhood after multiple side streets launched resident-only permit parking.
No, AI isn’t going to fix the loneliness epidemic — it may make it worse
Stories abound of people falling in love or developing friendship with a chatbot. But that doesn’t actually solve the loneliness problem.
Walking Slower? Why Your Ears, Not Your Knees, Might Be the Problem
Apple’s hearing study used real-world data from more than 57,000 iPhone users to make an important health connection.
Walking Slower? Why Your Ears, Not Your Knees, Might Be the Problem
Apple’s hearing study used real-world data from more than 57,000 iPhone users to make an important health connection.
Black licorice compound shows promise against inflammatory bowel disease
Researchers have developed a stem cell-based model of the human intestine that may transform how new IBD treatments are discovered. After testing thousands of compounds, they identified glycyrrhizin — a natural substance found in black licorice — as a promising anti-inflammatory candidate. In both lab-grown tissue and mice, the compound reduced intestinal damage and cell death linked to IBD.
Poor sleep can cause or worsen mental illness. Which treatments work and what's just hype?
Sleep disorders can cause serious physical and mental health problems. Treatments are aplenty, from gummies, lotions and meditation to apps, sounds, C-PAPs and medications. There are so many medical, over the counter, and influencer-peddled ways to treat sleep problems. What’s hype? What works? And what’s it like when it seems all the remedies are failing?
Parking Wars: Beaverton to crackdown as residents, businesses debate enforcement
Crowded streets, double-parked cars and drivers circling for spaces in Beaverton have sparked debate over how the city should address parking problems.
Alaska Legislature asks federal government for more flexibility on rural health funding
Legislators say restrictions on how and when Rural Health Transformation Program funding can be used present problems for Alaska.
Basketball gets more beer money, while tennis and other small college sports worry over their future
Basketball got the beer money. Many smaller sports around the NCAA are still looking for a lifeline. The expansion of March Madness and the $300 million in extra revenue that comes with it through opening sponsorships to beer, wine and liquor companies offered a brief reprieve from the steady drip of headlines that underscore big-picture problems confronting college sports in an era of tightening budgets and revenue sharing with athletes.
A NASA Study About Houseplants Has Been Widely Misread, Scientist Says
The science was sound. The problem is something else.
No, Google hasn't changed Chrome's local AI features—it's just as confusing as ever
You can stop Chrome from taking up 4GB of storage for local AI, but that shouldn't be your problem.
The Science of Workplace Behavior
When performance issues look like people problems, they’re often really system problems—and this post shows how to spot the difference before you try to fix the wrong thing.
Scientists make AI play Battleship to help it do science better
AI models and people played “collaborative” Battleship to test strategies for efficiently solving problems
I used AI to code a scheduling app in 10 minutes
I wanted to see how many minutes it would take to build a cute app on Lovable, with functions my friends and I could use to solve scheduling problems.
This New AI Business Degree Teaches What Most Programs Skip
Most of the new AI programs in the market start with the technology. Boston Questrom starts with the business problem instead.
‘That’s a problem’: Councilor grills health commissioner over childcare workforce grant funding
Executive Councilor John Stephen pointedly questioned officials from the Department of Health and Human Services during this week’s meeting about why a childcare workforce grant program was not funded.
Business school grad connects finance, sustainability and agriculture
It was while applying to colleges that Thomas Hancock-Bacon realized the importance of approaching problems through an interdisciplinary lens. "I initially wanted to pursue organic agriculture, but I came to understand that if I wanted to create change at scale, I needed to engage with the systems that enable it. That meant learning how capital flows and how policy shapes outcomes," he says.
Here’s what’s wrong with Chief Justice Roberts saying the Supreme Court isn’t political
Duncan Levin: The problem is not that Americans misunderstand what the court is doing but, rather, that Americans can plainly see the pattern in the court's decisions.
The National Academy of Sciences Elects Two Berkeley Lab Researchers
Two Lawrence Berkeley National Laboratory (Berkeley Lab) scientists have been elected to the National Academy of Sciences (NAS) in recognition of their distinguished and continuing achievements in original research. They are part of a cohort of 120 new members and 25 international members. The National Academy of Sciences is a private, nonprofit institution that was established under a congressional charter signed by President Abraham Lincoln in 1863. It recognizes achievement in science by election to membership, and — alongside the National Academy of Engineering and the National Academy of Medicine — provides science, engineering, and health policy advice to the federal government and other organizations. The 2026 electees bring the total number of active members to 2,705 with 557 international members. Gary Karpen is a biologist senior faculty scientist in Berkeley Lab’s Biological Systems and Engineering Division and a Professor of Cell and Developmental Physiology in the Department of Molecular and Cell Biology at UC Berkeley. Karpen studies how the structure, organization, and maintenance of genetic material impact inheritance and cell function. His lab focuses on chromatin — a packaged form of DNA strands wrapped around proteins that comprises our chromosomes — with a particular emphasis on centromeres, rarely expressed sequences called heterochromatin, DNA repair, and regulatory RNAs. His research reveals insights into fundamental aspects of nuclear organization and genome regulation that are shared across the tree of life, broadening our understanding of cancer and other diseases, birth defects, and aging. Kam-Biu Luk is a Professor Emeritus of physics at UC Berkeley and a retired senior faculty scientist in Berkeley Lab’s Physics Division. He is an experimental particle physicist whose research has focused on neutrinos: nearly massless, electrically neutral elementary particles that can pass through matter virtually undetected. Neutrinos are created during radioactive decay processes, including the fusion process occurring in stars and the fission process that powers nuclear reactors. Luk initiated and co-led the Daya Bay Reactor Neutrino Experiment, a project based in China with more than 200 international collaborators. In 2012, the Daya Bay experiment discovered a new form of a phenomenon called “neutrino oscillation” in which neutrinos change from one type to another. For this discovery, Luk and his collaborator Yifan Wang received the 2014 American Physical Society Division of Particles and Fields W.K.H. Panofsky Prize for outstanding work in experimental particle physics, and he was also the co-recipient of the 2016 Breakthrough Prize. Luk is currently participating in the Deep Underground Neutrino Experiment (DUNE) hosted by Fermi National Accelerator Laboratory, which will investigate any potential difference in behavior between neutrinos and antineutrinos that may shed light on the evolution of the universe, especially why antimatter is absent in the present universe. ### Lawrence Berkeley National Laboratory (Berkeley Lab) is committed to groundbreaking research focused on discovery science and solutions for abundant and reliable energy supplies. The lab’s expertise spans materials, chemistry, physics, biology, earth and environmental science, mathematics, and computing. Researchers from around the world rely on the lab’s world-class scientific facilities for their own pioneering research. Founded in 1931 on the belief that the biggest problems are best addressed by teams, Berkeley Lab and its scientists have been recognized with 17 Nobel Prizes. Berkeley Lab is a multiprogram national laboratory managed by the University of California for the U.S. Department of Energy’s Office of Science. DOE’s Office of Science is the single largest supporter of basic research in the physical sciences in the United States, and is working to address some of the most pressing challenges of our time. For more information, please visit energy.gov/science.
Victoria Beckham’s Teen Daughter Turned Her Skin Issues Into Business Idea
Victoria Beckham’s teen daughter turned her skin problem into a business idea. During an episode of the “Aspire with Emma Grede” podcast, the fashion designer made an appearance. She spoke about how h...
Google’s video streaming strategy has backfired
Google stopped making sub-$50 streaming dongles when it discontinued the Chromecast line in 2024. That's becoming a problem.
Small Business Optimism Is at Record Highs, So Why Are Millions of Entrepreneurs Still Getting Denied Funding?
CredFin, Inc. Identifies the Hidden Credit Profile Problems Blocking American Business Owners from a potential $44.8 Billion in Available SBA CapitalMIAMI, May 07, 2026 (GLOBE NEWSWIRE) -- The U.S. Small Business Administration guaranteed a record $44.8 billion in small business loans in fiscal year 2025, approving an average of 1,600 loans per week worth more than $860 million. That capital is available through a broad network of SBA-approved lenders operating independently across the country.