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Byron Allen says CBS has put no limits on his show replacing Stephen Colbert's
Byron Allen, the media mogul and former stand-up comedian, is gearing up for his latest venture: bringing his show Comics Unleashed to the CBS time slot long held by The Late Show with Stephen Colbert.In this episode of NPR’s Newsmakers, Allen sat down with NPR’s Ailsa Chang ahead of his debut episode. He discussed his plans for Comics Unleashed in its new prime late night slot, why he thinks there’s still more than enough political comedy after the cancellation of Colbert, and why it’s important for Black Americans to own and produce media.NPR's Newsmakers is where you'll find NPR's biggest interviews. We post new episodes as soon as they're available -- any day of the week. Follow or subscribe wherever you listen or watch so you always get the latest episode as soon as possible. Newsmakers relies on supporters who value independent journalism and a free press. Join NPR+ today to support our work and get perks from the podcasts you trust. Go to plus.npr.org.
Hinesville Black Business Expo to feature 75-plus vendors, food trucks and family fun
A Black Business Expo featuring more than 75 vendors, food trucks, bounce houses, prizes and family-friendly activities is coming to Liberty County High School on June 20.
Elijah Manley slams decision by Debbie Wasserman Schultz to run in CD 20
The Democratic candidate said a move that could reduce Black representation is no better than Republicans' redistricting efforts.
Everything We Know About Assassin's Creed Black Flag Resynced, The Remake Of The Pirate One Everybody Loves
Ubisoft's big remake of 2013's pirate-themed Assassin's Creed sequel is launching soon on consoles and PC
The NAACP’s boycott call is a wake-up moment for the American Black athlete
In a country where their rights are being attacked from all sides, it’s time for Black college athletes to utilize their power
Ubisoft Confirms Black Flag And Its Remake Are Both Canon
The leads on Assassin's Creed Black Flag Resynced explained how both the original and remake are canon
Waste Watch: How community colleges spent taxpayer-funded mental health recovery dollars
WLOS News 13 provides local news, weather forecasts, traffic updates, notices of events and items of interest in the community, sports and entertainment programming for Asheville, NC and nearby towns and communities in Western North Carolina and the Upstate of South Carolina, including the counties of Buncombe, Henderson, Rutherford, Haywood, Polk, Transylvania, McDowell, Mitchell, Madison, Yancey, Jackson, Swain, Macon, Graham, Spartanburg, Greenville, Anderson, Union, Pickens, Oconee, Laurens, Greenwood, Abbeville and also Biltmore Forest, Woodfin, Leicester, Black Mountain, Montreat, Arden, Weaverville, Hendersonville, Etowah, Flat Rock, Mills River, Waynesville, Maggie Valley, Canton, Clyde, Franklin, Cullowhee, Sylva, Cherokee, Marion, Old Fort, Forest City, Lake Lure, Bat Cave, Spindale, Spruce Pine, Bakersville, Burnsville, Tryon, Columbus, Marshall, Mars Hill, Brevard, Bryson City, Cashiers, Greer, Landrum, Clemson, Gaffney, and Easley.
Assassin's Creed Black Flag Resynced Preview - A Textbook Remake, And All The Better For It
After three hours of hands-on time with Ubisoft's first-ever remake, I cannot wait until July.
Assassin's Creed Black Flag Resynced Will Feature 8 New Endgame Missions That Pit Edward Kenway Against A Historical Pirate Hunter
Enter Robert Miller.
Assassin's Creed Black Flag Resynced's Modern Day Story Has Been Replaced With 'What If?' Scenario Rifts For Edward Kenway
Ubisoft Singapore also says the modern day story of this remake will tie into the modern day stuff in Assassin's Creed Shadows to a degree, too.
Sen Blackburn says sports betting hearing likely first of ‘several’ as Congress weighs federal action
Sen. Blackburn says Congress must determine where federal regulation is needed as sports betting and prediction markets rapidly expand in the U.S.
Blacksburg business owner: AI policy must work for small businesses
Policy discussions have not fully caught up to how small businesses are using AI today. That disconnect matters.
Silver & Black Gala unites stars, alumni and community to support Nevada mental health initiatives
The Raiders played host to the third annual Silver & Black Gala on Sunday night at Allegiant Stadium, a power-packed event that raised $2.5 million to help benefit mental health initiatives across Nevada.
Sky bridges, citizen science protect endangered Malaysia monkeys
A graceful black monkey edges across a swaying red rope bridge strung over a busy residential road in Malaysia's Penang, watched by local conservationists who carefully record her movements.
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 […]
Sky bridges, citizen science protect endangered Malaysia monkeys
A graceful black monkey edges across a swaying red rope bridge strung over a busy residential road in Malaysia's Penang, watched by local conservationists who carefully record her movements.Key to the...
Black leaders turn to collegiate sports in fight over Southern representation
The NAACP’s Out of Bounds campaign urges Black student athletes to avoid committing to top athletic programs in the South unless Black political power is restored.
NAACP calls for boycott of Southern college sports programs over voting rights
The NAACP is calling on Black athletes, alumni, fans and the general public to boycott the athletic programs of public universities in states that aim to redistrict longtime Black lawmakers.
NAACP calls for boycott of Southern college sports programs over voting rights
The NAACP is calling on Black athletes, alumni, fans and the general public to boycott the athletic programs of public universities in states that aim to redistrict longtime Black lawmakers.
NAACP asks Black athletes to boycott SEC, ACC powers in latest sports-as-politics pressure campaign
The NAACP launched its "Out of Bounds" campaign calling on black athletes and fans to boycott public universities across eight Southern states.
NAACP asks Black athletes to boycott SEC, ACC powers in latest sports-as-politics pressure campaign
The NAACP launched its "Out of Bounds" campaign calling on black athletes and fans to boycott public universities across eight Southern states.
Beasley Media, MBBA Unite To Amplify Black-Owned Business In Detroit
The companies stated that the partnership aims to support local entrepreneurs.
NAACP calls for boycott of Southern college sports programs over voting rights
The NAACP is calling on Black athletes and fans to boycott the athletic programs of public universities in states that are taking steps that the nation’s oldest civil rights group says are restricting Black voting rights.
When is the next step in Louisiana’s contentious redistricting process? Here’s the timeline.
A fierce battle over Republican plans to eliminate one majority-Black district has dominated the end of the Louisiana Legislature’s session.
Blackstone Hotel sold at discount to local investor
The local investor behind the two biggest downtown hotel purchases of the past year has picked up a third in the historic Blackstone Hotel on Michigan Avenue.
NAACP calls for boycott of Southern college sports programs over voting rights
The NAACP is calling on Black athletes and fans to boycott the athletic programs of public universities in states that are taking steps that the nation's oldest
NAACP urging athletes, fans to boycott over voting rights
The NAACP on Tuesday launched the "Out of Bounds" campaign to urge Black athletes and fans to boycott some public universities over voting restrictions.
NAACP urges Black athletes to boycott college sports in the South
The NAACP is calling on Black athletes, alumni, fans and the general public to boycott the athletic programs of public universities in states that aim to redistrict longtime Black lawmakers.
NAACP calls for boycott of Southern college sports programs over voting rights
The NAACP is calling on Black athletes, alumni, fans and the general public to boycott the athletic programs of public universities in states that aim to redistrict longtime Black lawmakers.
With Love: Blackburn Students, Entrepreneurs Support Selma Business Owners
At a professional development opportunity made possible by Blackburn Institute students, two Selma entrepreneurs gained both knowledge and friendship.
Protecting Maternal Heart Health and Lives: Key Takeaways from the New NASEM Report
Visit the post for more.
These men voted for President Trump. They have very different views of how he's doing
Two Black men from Georgia who voted for President Trump in 2024 have very different views of how the country is doing now, in the first installment of Swing Shift from NPR's Tamara Keith.
Smart people react to Google and Blackstone collab on AI company
"The small fry are getting squeezed out," wrote one equities portfolio manager.
Blackstone pledges $5B to launch TPU-powered AI cloud business with Google
Blackstone and Google launch a new U.S. data center venture offering TPU compute-as-a-service, with $5B committed for 500MW by 2027.
Former leader of major Durham political group indicted on embezzlement charges
Cassandra Stokes, former chair of the Durham Committee on the Affairs of Black People, is accused of misappropriating nearly $75,000.
Google to Create AI Cloud Business With Blackstone, WSJ Says
Alphabet Inc.’s Google is set to create an artificial intelligence cloud business with Blackstone Inc., aiming to compete with companies like CoreWeave Inc. in a burgeoning market, according to people familiar with the matter.
A strange ripple in spacetime could be the first fingerprint of dark matter
Black holes crashing together may be revealing clues about dark matter hidden across the universe. Physicists created a new model predicting how dark matter could subtly distort gravitational waves produced during black hole mergers. When they tested the method on real LIGO data, one signal stood out as potentially carrying a dark matter imprint.
Kudos to Cheer Club, College of Business faculty, Cybersecurity team and more
Becky Cottrell, Ph.D., Department of Social Work, and Bridget Arend, Ph.D., School of Education Becky Cottrell from the Department of Social Work and Bridget Arend, Ph.D., from the School of Education co-authored an article recently published in an international journal. Read the article. Biff Baker, Ph.D., College of Business Biff Baker, Ph.D., received a Best in Track award from the Society for Advancement of Management for research examining bureaucratic inefficiencies within Section 8 subsidized housing programs. The study focuses on how administrative delays and communication breakdowns can create housing instability for families and discourage landlord participation. It also offers recommendations to improve accountability and trust in public housing systems. Brendan Fry, Ph.D., Department of Mathematics and Statistics Brendan Fry, Ph.D., professor in the Department of Mathematics and Statistics, co-authored the article “Modeling the Impact of Venous Collapsibility on Retinal Oxygenation,” published in the Journal of Theoretical Biology. The interdisciplinary research brought together scholars from the University of Delaware, Indiana University Indianapolis, McGill University and the Icahn School of Medicine at Mount Sinai Hospital. Access the article. Bridget Arend, Ph.D., School of Education Bridget Arend, Ph.D., professor in the School of Education, co-published the book “Facilitating Seven Ways of Learning: A Resource for More Purposeful, Effective, and Enjoyable College Teaching, Second Edition” with James R. Davis. The book explores practical approaches to improving college teaching and student learning experiences. Buy the book. College of Business Faculty At the 2026 Western Decision Sciences Institute international conference, Sally Baalbaki-Yassine, Ph.D., Debora Gilliard, Ph.D., and David Lynn Hoffman, Ph.D., from the College of Business received the Best Case Study Paper Award for “Oreo: A Global Success Story in Brand Evolution and Market Leadership.” Lisa McVicker, Ph.D., and Apryl Brodersen, Ph.D., also had their paper, “Electronic Performance Monitoring: Employer Panacea or Legal Quagmire?” accepted for publication in the Journal of Business Leadership. Community Engagement Exchange Program Metropolitan State University of Denver was selected to host international Fellow Aleja Henao Espitia of Bogotá, Colombia through the Community Engagement Exchange program funded by the U.S. Department of State. View Espitia's LinkedIn profile. David Varel, Ph.D., College of Letters, Arts and Sciences MSU Denver historian David Varel, Ph.D., has been awarded a 2026 ACLS Fellowship by the American Council of Learned Societies. The fellowship program supports outstanding scholarship in the humanities and social sciences, and selected just 63 scholars from more than 2,000 applicants this year. Varel’s project, “The Black Chicago School: Academic Activism in the Age of American Apartheid,” explores the work of Black scholars who challenged scientific racism, built alternative institutions and helped lay the foundation for the modern civil rights movement. The fellowship provides up to $60,000 to support full-time research and writing. Learn more about the fellowship. MSU Denver Office of Financial Aid Team Several MSU Denver employees were recognized for leadership and service during the Colorado Association of Financial Aid Administrators (CAFAA) conference held in May in Crested Butte. Don Holtzen, interim associate director of systems, chaired the conference and was recognized for his service as CAFAA conference chair and technology chair during the 2025-26 term. Holtzen also received the Postsecondary Institution Professional of the Year award, which recognizes financial-aid professionals who have made significant contributions to their institutions and to CAFAA. Tori Pacheco, associate director of Student Services, helped design décor and facilitate the conference and was recognized for her service as CAFAA secretary during the 2025-26 term. Destiny Candelaria, call center coordinator, served on the conference planning committee and presented on One Stops during the event. Michael Nguyen, executive director of Financial Aid and Scholarships, assisted as a CAFAA board member and was recognized for serving as president-elect during the 2025-26 term. Richard Balbag, program assistant I, received the Distinguished Support Staff Member of the Year award, honoring staff members who have made exceptional contributions to their financial-aid offices. Military Friendly Recognition Military Friendly has awarded MSU Denver Gold Status as a military-friendly university and ranked the University No. 7 nationally for military spouses. The recognition reflects MSU Denver’s strong support systems for veterans and military spouses, including transfer credit assistance and retention-focused resources. As of 2026, 1,050 military-connected students are enrolled at the University, advancing institutional priorities around serving veterans and supporting student retention. MSU Denver Cheer Club The MSU Denver Cheer Club earned third place in the 4-Year College Small Coed Intermediate division at the USA Spirit Nationals. Celebrate the win on Instagram. MSU Denver Cybersecurity Team An MSU Denver cybersecurity team earned first place in the Strategist category at the 2026 CYBER RECon National Competition hosted at Fort Meade, Maryland, by U.S. Cyber Command. Led by Jeffrey London, Ph.D., and undergraduate student Matthew Bopp, the team competed against universities and law schools nationwide with its 30-page legal analysis on cybersecurity and free speech titled “Freedom of Speech and MDM: Misinformation, Disinformation, and Malinformation.” The paper also earned Bopp a personal invitation to apply to the University of Maryland School of Law. MSU Denver Debate Team MSU Denver Debate won the 2026 Sierra Sustainability Summit hosted at Yosemite National Park in April. Students Kat Conte and Simon Bernhard bested teams from George Washington University, Gallaudet University, Cal Poly San Luis Obispo, the University of San Francisco and Tennessee Tech in the modified present-and-defend style competition. Their proposal recommended adapting Colorado’s Keep Colorado Wild Pass model to support California state parks facing budget constraints. Learn about the summit. MSU Denver Women’s Golf MSU Denver Women’s Golf was represented on the national stage this month as junior Neige Dunn competed as an individual at the NCAA West Regional. She became the first Roadrunner in 10 years to qualify for NCAA Regionals as an individual. Get the details.
Apple Watch Ultra 4 Could Get Redesign and Blood Pressure Monitoring
The Apple Watch Ultra 4 could feature a complete redesign and blood pressure monitoring, according to DigiTimes. Apple will apparently add a new high blood pressure notification feature to the Apple Watch that uses the optical heart-rate sensor on the back of the device to analyze how blood vessels respond to each heartbeat, sending alerts when an abnormal pattern is detected. The feature is said to be under FDA review.
2026 Columbia Black Expo wraps with music, shopping and minority business spotlight
Analysis: Black Cats' dream season continues
What a dream season it has been for Regis le Bris' Sunderland side on their return to the top flight for the first time since dropping out of the Premier League in 2016-17. Sunderland's win, which takes them above Everton, leaves them ninth, one point behind Brentford in eighth and two points behind Brighton in seventh, although Chelsea in 10th have a game on the Black Cats. With Manchester City beating Chelsea 1-0 in Saturday's FA Cup final, that means seventh in the Premier League would qualify for the Europa League, with eighth place going into the Conference League.
Here and Now: Universal childcare, legendary Black athletes, reimagined 'Cats' on Broadway
On this episode of Here and Now, Sandra Bookman sits down with various guests to discuss universal childcare, legendary Black athletes, innovative programs in the Office of Criminal Justice, and a re-imagined Broadway production.
Walmart Introduces Two New High-End ONN Android Tablets Blending Premium Features with Affordable Pricing
In a move that continues its strategy of delivering strong value in consumer electronics, Walmart has rolled out two fresh additions to its popular ONN lineup of Android tablets. The new 8.1-inch Core Tablet in Silver and the larger 13-inch Pro Tablet in Black position themselves as high-end options accessible to everyday consumers, combining modern […]
'Outlander' cast recalls important Black Jack Randall scene — and why it didn't air.
'Outlander' cast explains that Jack Black Randall survived in a scene that was filmed but never aired. Here's why Tobias Mezies' character had to die.
Adam Driver Brushes Off Lena Dunham Memoir Question in Cannes: ‘I’m Saving It All for My Book’
Adam Driver may be known for leading critically acclaimed films like “BlacKkKlansman” and blockbusters like “Star Wars,” but his career first gained steam on TV in Lena Dunham’s HBO series “Girls.” Th...
Retro Recap: All The Classic Gaming News From The Past Week (May 17th 2026)
SN Operator! Zelda! 3DS! Return To Blacktooth!
Hampton Roads’ Regional Black Chamber of Commerce hosted “Inside Politics Forum” in Norfolk
NORFOLK, Va. (WAVY) — It is National Small Business Month! Black BRAND, Hampton Roads’ Black Chamber of Commerce, took place Saturday, hosted by its annual “Inside Politics Forum&…
Blackstone seasoning blend recalled over possible salmonella contamination
Blackstone Products is recalling select lots of its Parmesan Ranch seasoning after a supplier-issued milk powder recall raised concerns about possible salmonella contamination.
Dark Matter May Have Been Detected by Accident, Scientists Reveal
A signal hiding in the data.
Thousands rally in birthplace of Civil Rights Movement to defend Black political representation
A crowd of thousands gathered in front of the city’s historic Alabama Capitol, the place where the Confederacy was formed in 1861 and where the Rev. Martin Luther King, Jr. spoke in 1965 at the end of the Selma-to-Montgomery Voting Rights March.
Groups rally to defend Black political representation in civil rights birthplace
The rally will begin in Selma, where a violent clash between law enforcement and voting rights activists in 1965 galvanized support for passage of the Voting Rights Act.
Horse dies after race on Black-Eyed Susan Day ahead of Preakness Stakes
Hit Zero collapsed shortly after his first-ever race on Friday.
Blackhawks At World Championships: Teuvo Teravainen Impresses, USA Loses To Host Switzerland
Congressman Cohen Announces Plan for His Political Future
WASHINGTON – Congressman Steve Cohen, who has represented Tennessee’s 9th Congressional District for more than 19 years, held a press conference at his office in Washington this morning to announced that he will not be a candidate for any of the newly drawn Congressional seats carved out of the 9th. His majority-Black district was gerrymandered into three Republican-leaning districts by the state General Assembly last week.He made the following statement:
Andrew Abbott leaned into some science to get his season back on track
Andrew Abbott locked in on the stick-figure graphic of himself. The world of biomechanics is very advanced. But with Abbott going through the worst rut of his big league career, he opened up to some new ideas to get himself back on track. He asked for some help, and he leaned into some sports science. He said the stick figures made it clear, and he credits biomechanics for helping him get his season back on track. Over his last three starts, he has allowed two total runs in 17 ⅔ innings. “There’s a photo of (me) last year and the year before on a graph, and this year is in a different color,” Abbott said. “You see where you are in comparison to that. Where the hands are at this moment, where your feet are, where the knee is, where your head is at, where your shoulders are at, it breaks it all down if you want it.” When Abbott saw his mechanics in this objective way, he recognized exactly what had been going wrong. “When my tempo, my feet and my hands are aligned, then normally my mechanics are sound,” Abbott said. “And when my mechanics are sound, my stuff behaves normally. The fastball is jumpy. I’m up in velo. My extension is better.” Abbott said that he started diving more into his biomechanics in the middle of April. The Reds have a biomechanics team, which works closely with pitching coach Derek Johnson and hitting coach Chris Valaika. Leading the group is biomecahnics manager Franky Mulloy. “I laugh every day,” Francona said. “When Franky starts talking, I start laughing. I remind him to know his audience.” Francona isn’t a scientist. The Reds’ manager jokes about his own comprehension of the data. But it’s easy for him to recognize the value that the biomechanics team is providing. “That’s why we got them,” Francona said. Abbott said that he had his first big biomechanics-oriented meeting in the middle of April. Behind the scenes, there was already a lot of communication going on within the Reds’ staff. “Franky calculates all the things, builds it into these graphs, and DJ gets them,” Abbott said. “They have their internal communication. Then, we go to them and ask what about this or that. The main thing for me is arm angle.” The data shows Abbott how his arm angle evolves from start to start. He hasn’t meant to change it. But just like all of us, our posture might be different from one day to the next. Pitchers’ arm angles can make minor shifts without the pitcher or even coaches noticing. But the data can’t miss a change like that. Abbott recognized that his arm angle had been moving around without him noticing. Now, he checks in with the data to make sure that his mechanics are in sync. “They get into these cool looking graphs,” Abbott said. “I can’t really describe them. I don’t know what they are. But for me, it’s a photo of a stick figure of myself.” The stick figure of his current positioning is superimposed over previous versions of himself. With that format, Abbott can compare his mechanics on any given day to what they were when he was pitching at his very best. “It was very noticeable from the moment I saw this year as black compared to two years ago and last year, it was very, very different,” Abbott said. “I could see with my eyes without having to ask any questions about the difference in the photos.” For any pitcher, there are a lot of moving pieces in your delivery. For Abbott to be the best version of himself, he needs his head, his arm, his hand, his knee and his feet to be on the right “tempo.” “Tempo is a word I’ve used a lot,” Abbott said. “Getting everything in certain areas working together.” He has been much better at that recently. The data backs that up, and so does Abbott’s ERA. The biomechanics data has also given the Reds’ staff and Abbott some better ideas for some training that he can do between starts. He has added drills to shore up areas of his body that Abbott needed to make stronger. “They make a plan based off what they see,” Abbott said. “If things start changing, we know what to revert back to.” Overall, Abbott says that he’s not a very analytical guy. There’s so much information out there, and he says that it’s important for him to not get too analytical when he breaks down his specific pitches. He has learned the value of being “analytical about mechanics.” And the way that the Reds presented that information to him made it easier for him to make the right adjustments without being overloaded by information. “It was a very simple fix,” Abbott said. “It took a long time to finally get there, feel the results and see it. But for the most part, it was very simple to apply it.”
CIA chief makes historic trip to Cuba as US blockade chokes island's energy supplies
The U.S. has been restricting oil shipments to Cuba since January, plunging the country into blackouts lasting days at a time.
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
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