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As Aspen Acres Fire continues to burn out of control, Colorado businesses step up to help evacuees
Revitalized 1930s estate in Mettawa for sale at almost $9 million
The mansion and 11-acre grounds of the estate known as Shagbark have been extensively rehabbed and updated since 2019 as a personal project of the man whose family company revitalized the former Motorola Mobility campus in Libertyville.
Developer addresses community concerns around Franklin youth sports complex project
The project, proposed by developer BLVD Capital, would transform Brownland Farm, a 233-acre property on Hillsboro Road just outside downtown Franklin, into “The Banks at Brownland.”
Preaching the Gospel—not politics—at America’s 250th anniversary
As we approach the 250th anniversary of the founding of the United States, preachers face a sacred responsibility—to proclaim the Gospel and heed the signs of the times, without getting lost in political ideologies.
NASA’s PACE Mission Studies Smoke, Fires
With the North American fire season underway, and a record number of acres already burned nationwide, NASA’s Plankton, Aerosol, Cloud, and ocean Ecosystem
233-acre Franklin farm could become major youth sports complex
A Nashville Predators-operated ice rink and athletic facility could transform historic Franklin property.
University, State of Utah sign agreement for proposed south valley health campus
U of U Health has secured land for a proposed health campus that will serve as the health care anchor for the 600-acre master-planned development...
Arts and Entertainment Agenda, June 25 to July 1
Aspen Ideas Festival, June 25-July 1 The Aspen Ideas Festival will run from July 25 through July 1 at the 40-acre Aspen Institute, 1000 N. Third St. The event hosts brilliant minds from around the...
Heat waves hit just 15% of days in the West, but scientists link them to 42% of acres burned
Wildfire smoke can travel far beyond the fire zone, affecting people hundreds of miles away.
UNC Health proposing 92-bed hospital on 22 acres at Westgate Shopping Center
UNC Health is proposing a 92-bed, acute-care hospital and according to a map of the location provided by UNC Health, the hospital would be at Westgate.
Will Condon named Chief Executive Officer of Ascension Sacred Heart Health System
PENSACOLA, Fla. – Will Condon has been named chief executive officer of Ascension Sacred Heart Health System, a five-hospital ministry serving Northwest Florida
An Anaheim vision: The Anaheim Angels in a new stadium, next to a youth sports complex
A new owner could move the Angels, but Anaheim offers a 150-acre site with what every owner in pro sports covets: land around the venue to turn the property into a year-round money-making operation.
Remembering the Emanuel 9 victims after a season of gun politics
In his latest commentary, Paul Hyde reflects on the 11th anniversary of the Mother Emanuel massacre, campaign ads, and the Charleston loophole.
Montana Board of Investments closes deal on Laurel land for proposed forensic mental health facility
The state has closed on its purchase of 114 acres in west Laurel proposed for a forensic mental health facility and is now asking Yellowstone County to rezone the property.
The Batture sparks legal fight between childhood friends who became business partners
The longtime friends and business partners are splitting up over a disagreement about how Jacobson is running the Batture, a 10-acre park on the Uptown riverfront.
The Batture sparks legal fight between childhood friends that became business partners
The longtime friends and business partners are splitting up over a disagreement about how Jacobson is running the Batture, a 10-acre park on the Uptown riverfront.
Tiffany Gets Donation From Business He’s Helping Buy National Forest Land
Concrete supplier would get 14 acres of forest land in Wisconsin's North Woods.
In Retrospect: Poland, Russia, Europe
In April I spent a few days with Zryw, a Polish non-profit organization that recruits young people to enter politics and public life. Their aim is to build a new generation of civic leaders in Poland. I’ve followed their evolution from the beginning; my son is one of the founders. (“Zryw” means “impulse” or “burst of speed” in Polish). Julie Chmielewska, one of Zryw’s leaders, interviewed me at the event. Here is the conversation, lightly edited for grammar and context: Julia Chmielewska: Assuming that culture shapes institutions, could we conclude that some cultures are more prone to authoritarianism? Anne Applebaum: I don’t think so. Every culture, every nation, and every country has the potential for change. When we look at history, we can see that nations do change. Poland has changed, for example, from the 1980s to today. There’s a completely different mentality here than the one I encountered when I first visited, in 1988. The current generation sees the world through a different frame. So no, I don’t believe that certain nations are doomed to authoritarianism, or to anything. Of course, there are political and cultural traditions, but they can always be challenged. JC: So do you think there’s something intrinsic in human nature that pushes people to democracy, freedom? AA: I think there is something in human nature, a deep instinct, that pushes people towards freedom, yes. People who live in authoritarian countries – and I’ve heard this from them over and over again – sooner or later find themselves angered by a feeling of helplessness. They can see the unfairness of crooked courts, irrational political decisions. They naturally dislike the fact that somebody has all the power while they have none. In those circumstances, people who have no political background at all sometimes are politicized just by that frustration. I’m thinking of Svetlana Tikhanovskaya, for example, who was a Belarusian housewife, until the circumstances of her husband’s arrest forced her to become a politician. I met a woman who is a Uyghur from China, and who had come to live in Turkey. After several of her family members were arrested, she too was propelled into a political role. These kinds of experiences make people interested in democracy or political reform, even if they thought they didn’t care. I also think that the opposite is true: some people instinctively prefer homogeneity, order, hierarchy. They don’t like the confrontation of opinions or the noise of debate, and they lean towards a single leader or a unified regime. I think that most of modern history is shaped by the clash between those two different sides of human nature. JC: Which force do you find more powerful today? AA: I think they both have a lot of power and there’s no way of predicting who wins. Even in countries that seem very shut off or stuck in an authoritarian system can change. We’ve seen that happen. And vice versa, I think democracies can also begin to fail and slide into authoritarianism. So it’s very important not to be complacent in either direction. JC: I want to go into your history and your experiences. You’ve lived in Russia during a time of incredible change in the late 80s, and then you came back to do research in post-Soviet Russia. AA: I was a student in Russia just before the collapse of the Soviet Union. I then traveled and worked there extensively in the 1990s, and I met people who really were full of hope. They hoped that Russia could become a democracy, or at least a place that guaranteed freedom of speech, freedom of the press. These weren’t ideas that came from Washington. Although now the narrative in the Kremlin is different, I met many people who were working towards exactly that kind of transformation. A friend of mine ran a series of seminars – once a year, and then later several times a year, in cities all over Russia – designed to get people to discuss politics in new ways. She invited young politicians and journalists, as well as foreigners. I went to many of them, in Moscow as well as Volgograd and Novosibirsk. Over two decades, hundreds of people came to these seminars, and all of them wanted Russia to be different. I remain convinced that many Russians still want Russia to be different. It’s just that the old system, in the form of Putin, a representative of that system, returned. The KGB reimposed their power. And this wasn’t because of something to do with culture, this was to do with money and politics, and who was in charge. JC: You’ve partially answered my question... I wanted to ask whether that excitement of the 1990s was an exception from the Russian historical norm which has been rather authoritarian? AA: Of course, if you look at the history of Russia since the 18th century, there have always been liberal groups, reformers and revolutionaries. There were the Decembrists, in the early 19th century, and the rural populists later on, who tried to organize the peasantry. A significant group of liberal Russians appeared at the turn of the 20th century, people like the father of the writer Vladimir Nabokov, who was a Russian politician before the revolution. These groups were small in number, but sometimes had a broader significance. The Russian dissident movement in the 1950s and 1960s actually invented the modern human rights movement. It was their idea to hold the leaders of the Soviet Union accountable for the language they used, to remind them of the treaties they had signed and the promised they had made. They created the Helsinki group, for example, that held Soviet leadership to the language of the Helsinki Treaty, which formally ended the Second World War and which contained guarantees of human rights, at least on paper. That idea spread to Eastern Europe, and similar tactics were used here in Poland. (Benjamin Nathans recently wrote a great book about the Soviet dissidents, To the Success of Our Hopeless Cause) JC: But seemingly, even if they do ever get power, they could never hold on to it. AA: We don’t know, because they have never really had power. But in any case, we also don’t know what will happen in the future. There is no reason to assume that Russia will forever be condemned to totalitarianism. Even during the first fifteen years of Putin’s regime there was some form of democratic politics. Only when the full-scale war began did he bring everything to an end: he shut down all remaining independent organizations and killed his most important opponent, Alexi Navalny. But does that mean he is popular, that he enjoys legitimacy? Even now, we don’t really know what Russians think about him, or about the war. There is no way of doing real polling in Russia because nobody will answer an independent pollster over the phone. JC: Do you think that the flock of young people, especially young men, who fled Russia after the start of the war represent a continuation of liberal movements that refuse to partake in the authoritarian state, or do you think they are moving for the sake of self-preservation – “I don’t want to go to the army, so I leave”? AA: I’m sure it’s both. I actually know many people who left Russia for political reasons either in the very last years before the war, or else just after the war began. JC: And do you see a change in the young generation versus the old one that have fled? AA: It’s hard for me to say because the people who I know were mostly already politicized. I do know some younger people who left, but most of them were already either active in the opposition, or working as journalists. Many of them very self-consciously think of themselves as maintaining Russian culture abroad, just as in the 20th century the Soviet dissidents or the anti-communist White Russians once thought of themselves as people who maintained the true Russian culture, outside of Bolshevik Russia. JC: Let’s move on to Poland. One of your first experiences with Poland was reporting on Margaret Thatcher’s first state visit, in the autumn of 1988. You followed her around the farmers’ market. AA: She was making a symbolic gesture. She wanted to welcome free markets, but the only one she could really visit was the farmers’ market at Hala Mirowska. JC: And I want to talk about this area because today you can look out of any window in that district, Mirów, and see rows and rows of skyscrapers. How does it feel to see a country built from the ground in such a short time, both politically and economically? AA: You know, when you’re living in a period of dramatic change, it’s always hard to know whether the change is positive or negative. The transformation in Poland created winners and losers, as well as new classes of people, new political movements of different kinds. At the time, it sometimes just felt like turbulence. Now, we can look back at the 1990s and early 2000s in Poland and see in retrospect that the country was headed in towards prosperity and European integration. In around 2009 or 2010, I remember speaking to a woman who worked cleaning government offices, and who asked me if her daughter should study in Amsterdam or in London. This seemed to me to be a real transformation, and it happened very fast: within a few years, Poles stopped feeling like second-class Europeans, and a generation of younger Poles appeared who had no qualms about crossing borders. JC: We again live in turbulent times. Do you think we’re heading towards positive outcomes? AA: I can’t make predictions, because everything that happens tomorrow depends on what people do today. Also, history doesn’t have a trajectory. It doesn’t move in a particular direction. You only think it does afterwards. As I said, you can look afterwards at Poland in the 1990s and you could say this was a period of great progress. But not everybody at the time saw that. Sometimes people are very wrong about a given country’s trajectory. I remember people writing about Ukraine in the 1990s, about how dangerous it was that Ukraine was independent, that this was going to be an anti-semitic state, that Ukrainian nationalism was going to come back... and although you can say many bad things about Ukraine, the country made many bad choices, actually it became a pretty tolerant state which now has a Jewish president and until recently a Muslim defense minister. JC: In the 1990s Poland’s and Ukraine’s GDP were roughly similar. Ukraine was even a bit richer. So the starting point was similar for both of these countries, but they’ve turned out very, very differently. Even if we stop in 2014. Why do you think Ukraine “chose East”? Was it external influence? AA: No, I think Ukraine was in a different position. First of all, central and eastern Ukraine had been part of the Soviet Union since the 1920s, and had therefore experienced a longer period of occupation, repression, Sovietization and even Russification. Ukraine did not have, as Poland did, an alternative elite: a large cadre of economists and politicians, who already had some experience in opposition politics and in independent thinking. In Poland, the transformative finance minister, Leszek Balcerowicz, had already thought about how an economy might be decentralized before he took office. We can argue about how successful he was, but at least he was prepared to try something new. In Ukraine, people weren’t prepared. For one, there hadn’t been much space even for an illegal opposition in the previous couple of decades. Ukraine was also in many ways still emerging from colonial occupation. For the previous couple of centuries, many of the most capable Ukrainians had moved to Russia, and the first generation of leaders in independent Ukraine tended to be former Soviet apparatchiks. They didn’t immediately seek to become closer to western Europe. Instead, they looked for some kind of economic and political “third way” and an accomodation with Russia. Ukraine became stuck in this position, half-in, half-out and became pretty profoundly corrupt. JC: The Polish alternative elite had a vision of where they wanted the country to go. I think the general perception now is that this vision ends with the next election, right? Is this a natural process of gaining power? AA: Their vision, and it was shared by the time by politicians who now call themselves both left and right, was that Poland should join the EU and NATO, as fast as possible. My husband (Radek Sikorski) was in the very first government that said it wanted to join NATO. At the time this was taken very badly in Washington: the demand for NATO membership absolutely came from Poland, not from the US. But even then, in the early 1990s, many Poles already understood that the Russian sphere of influence would grow once again, that it was important to become part of the transatlantic alliance and an integrated Europe as fast as possible: NATO, the EU, the Council of Europe, all of the trading and security alliances. That consensus lasted through several different governments and over many years, even governments containing former communists. For twenty years, right, left and center disagreed about many things, but they all agreed on the direction that the country should go. In retrospect, that consensus created the basis for prosperity in Poland. JC: And regarding the Polish-Ukrainian relations. We know that antagonisms, e.g. the myth of Wołyń [a massacre of Poles that took place in what is now Western Ukraine, in 1943] are increasingly used in Polish political discourse today. In Ukraine, nationalist historians make heroes out of UPA, the Ukrainian revolutionary army, which is held responsible for this tragedy. Where do you see a start for burying the hatchet? Is the reconciliation of our nations possible? AA: So here’s a strange thing: For more than a decade after they both gained independence, Poland and Ukraine participated in a number of projects that were designed to solve exactly these kinds of Polish-Ukrainian differences. Books were published that were jointly written by Polish and Ukrainian historians, monuments were built. These projects were successful: If you’d asked me this question in 2010, I would have said that there are no real historical issues between Poland and Ukraine, that the two countries had mostly reconciled. For a number of reasons, this began to shift. In Poland, children and grandchildren of victims of the Wołyń massacre felt their tragedy hadn’t been fully recognized. In Ukraine, nationalist groups wanted the UPA partisans who had fought against the Soviet Union recognized for their heroism, despite the fact that some in this broad and not well-defined group were also linked to Wołyń. In both eastern Poland and western Ukraine, the memory of the ethnic cleansing that took place there in the late 1940s - Poles were moved West, Ukrainians East - to accomodate new borders has left feelings of displacement and bitterness. The wave of Ukrainian immigration, which started before the war, may have provoked some of this. But don’t underestimate the role played by Russia, which has always wanted to create discord between Poland and Ukraine, and pumps out propaganda to that effect in both countries. Vandalism on both sides of the border, damage done to cemeteries and monuments, is sometimes carried out by provacateurs working for Russia, just to create bad feelings. The Polish-Ukrainian conflict also hides a different reality: although there are real grievances and bad memories, the truth is that the biggest tragedies both nations experienced in the twentieth century were inflicted by the Soviet Union and Nazi Germany. That should unite these two countries, not divide them. JC: This week (19.04.2026 – Ed.) in Hungary we saw that using historical narratives to create grievance has no longer worked. Are you optimistic about the direction after Orban’s loss? AA: The Hungarian election was really important because it shows that people can actually resist powerful, dominant propaganda. The ruling party Fidesz controlled all of the TV, 90% of the newspapers, the constitutional court, the bureaucracy... and yet people had the nerve to vote against it and resist it. It’s also an important election because Hungary created a huge network of well-funded think tanks and foundations that were funding other far right groups and projects. So that loss is going to have a knock-on effect in other places too, maybe even in Poland. JC: What you’ve said about resisting propaganda reminds me of one of the interviews you did about talking to Russians in the post-Soviet era who claimed that people knew that the system was lying. Why do people choose to believe in these regimes anyway? AA: Because it’s useful. Stephen Kotkin, an American historian, once described how people would learn how to “speak Bolshevik”: It was just a language that you needed to use in order to get by in society. If you didn’t talk the way the regime wanted you to talk, then you might have problems, or lose your job, or your kids would not get into university. It was a way of getting along. Communist Poland was similar, at least in the early years. When I was writing a book about the Sovietization of Eastern Europe after World War II, I met a lot of people who wanted to talk a lot about the war, when many of them had done really heroic things. But almost nobody wanted to talk about the decade afterwards, between 1945 and 1956. This was when you had the short period of terror, violence and Polish Stalinism. To stay safe, people felt the need to just go along with what others were saying, or stay out of politics, or use communist jargon without necessarily believing it. I don’t judge them for it, and I wouldn’t describe all of those people as collaborators. It’s easy to feel moral certainty in retrospect, because we know that communism ended. But if you were living in 1949, it might not have been clear to you that communism was going to end. In very repressive societies, maybe about 10% of people who are really evil – collaborators, torturers. Maybe 10% of people are really brave and who find ways to resist. And then around 80% of people have kids, they have parents, they have to have jobs and they’ve had to get through it somehow. Strange though it may sound, I’ve found that the work I did on that book is now very useful in explaining some of what’s going on in the United States today. There are plenty of members of the Republican Party in Congress who know perfectly well that Donald Trump says many things that aren’t true. But they avoid criticizing him because it’s inconvenient, because they would get in trouble, because someone would attack them on the internet. So actually you don’t even need mass terror to get people to conform. JC: Is Gen Z reinventing agency? AA: We’ll see. In any generation you can find groups of people who want agency. If you live in a society that’s unfair, for example where a tiny number of people have captured most of the wealth, then at a certain point people rebel. This is always easier for younger people, who have you have less to lose. The question now is how the internet will affect the relationships between citizens and the state, and how it will change organizations. The “Twitter revolutions” people spoke about as early as 2008-9, mass protests organized online, have often proved to be very superficial. Although you can easily join something just by clicking, the work of creating a real movement requires physical participation. Successful mass movements of the past, for example the Civil Rights movement in the United States, were built by people who had spent many years together. They had participated in non-violent workshops together. They practiced and prepared. Just using the you can get everybody to show up at a certain moment, but then when the protest is broken up, nothing happens. It’s also true that the repressive regimes have more recently learned how to use the internet to undermine leaders and movements. Most of all, they now understand how to make people cynical. The form of propaganda that most modern authoritarians use - and I think the Russians really pioneered this - deploys sneering cynicism. Instead of praising the rulers, the regime propagandists mock the opposition movement leadership for being supposedly corrupt or sexually degenerate, with the goal of undermining any kind of idealism. JC: MAGA grew on the internet? AA: MAGA is a real grassroots movement. They had symbols, red hats, they showed up at rallies. But you’re right that the cynicism, the sarcasm and the distrust that the movement embodies came originally from the internet, and this is different. Fifty years ago, most European political parties had a social base in real organizations, in trade unions for Social Democrats, in church groups for Christian Democrats. As people stopped going to church and as the trade unions became smaller, the social base of these parties disappeared. Now people who wouldn’t have known one another in the past meet on the internet and create new movements, many of which don’t last. JC: Is history ending? Going in stale circles? AA: History never ends. In truth, human beings want contradictory things at the same time: order and freedom, stability and change. These things are never resolved, and when a society swings too far in one direction, people always push it the other way. But each time that happens, the result is different. Certainly it is true that we are now in a period when old philosophers and ideas from the 1930s are undergoing a revival. Carl Schmitt, who was a philosopher who was very influential on the Nazis, is back as an influence on both the far left and the far right, once again inspiring people to think that all politics has to be existential, that all politics is about defining and defeating enemies. In the US, some are also bringing back dominionism, the idea that we need a Christian and not a secular state. It’s also true that we are living through a more fundamental shift. The old left-right divide, which was mostly about the size of the state, is much less important now. Instead, we are arguing about more fundamental things: what are our rights, what protects our freedom. Or how much power do we want to give small elites, versus how much power to give ordinary people. In America a small group of very wealthy people now control information, because they control the social media platforms and AI, which means they determine what people will read and learn. Finding a way to preserve preserve zones of autonomy and independent thinking, this is going to be the main task for the next generation. JC: What is the one book that a person interested in Central Europe should read? AA: You could read my book “Iron Curtain: the Crushing of Eastern Europe” which tells the story of how the Soviet Union imposed its culture on the region. Or read Tim Snyder’s history of the region, “The Reconstruction of Nations: Poland, Ukraine, Lithuania, Belarus 1569-1999.” And everyone should read “The Captive Mind” by Czesław Miłosz, which describes exactly the phenomenon we were talking about: why do people collaborate? I joined Scott Galloway and the brilliant Fiona Hill in a discussion about the wars in Ukraine and Iran, the future of global power, and what these conflicts reveal about America's role in the world. Scott told us that this was the 400th edition of his podcast, which is quite a number: My friend Francesco Chiamulera runs a brilliant series of literary events, Una Colline di Libri, A Hill of Books, in the Prosecco Hills, a region of vineyards and elegant hill towns in the Veneto, north of Venice. We did an event in Vittorio Veneto and also drove and biked around the countryside. Buy Autocracy Inc Buy Iron Curtain Open Letters, from Anne Applebaum is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe
Tiffany accepts donation from business owner he’s helping to purchase national forest land
Last July, U.S. Rep. Tom Tiffany authored legislation that will allow a Forest County concrete supplier to purchase 14 acres of the Chequamegon-Nicolet National Forest.
Alfie Oakes proposes Bonita Springs entertainment venue
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Waterville board approves Amazon distribution center
Camber Development is applying for permits to build a 159,000 square foot building on about 50 acres on Junction Road near Trafton Road.
A $25 million lifeline in Philly for unhoused drug users with major health challenges
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‘Going to be a very busy place’: Partners talk Park City music festival plans
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Circus Circus Las Vegas Offers Iconic Family Fun, Entertainment and Unforgettable Summer Memories
Circus Circus Las Vegas, the iconic Las Vegas Strip resort and the city's premier family-friendly destination, is welcoming in guests this summer to experience the Las Vegas that started it all: coin-operated slots, paper bingo cards, mesquite-grilled steaks, circus acts, carnival midway, and a five-acre indoor theme park all under one roof.
Madison’s ‘The Gallery’ entertainment district set to break ground this summer
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Construction halted on massive Glendale entertainment hub; Colorado city, developer trade accusations
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Public Services Committee moves forward with rezoning for east Cheyenne business parks
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Mavericks leaving downtown Dallas, plan arena, entertainment complex in North Dallas
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Dallas Mavericks choose Valley View site for new arena and entertainment district
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Data center critic's arrest draws attention to 387-acre site
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Utah tightens rules for Kevin O'Leary's AI data center after backlash
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MRIPC Complex Selected for Grow Site Ready Program
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Delta Communities Must Plan for the Future They Want
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Opening Day to Banana Ball: The Evolution of ESPN Wide World of Sports
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Amish Acres hosts meeting with community on future of business
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Exclusive | San Diego mosque shooter walked out of mental health treatment center the day before massacre, police had prior warnings: sources
Prominent PS5 Podcaster's Account Hacked, Social Engineering Concerns Amplified
Is nothing sacred?
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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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WILMINGTON — UNC Health is announcing plans to build a new community hospital on a 62-acre proposed site in Wilmington. UNC Heath has identified the southeast corner of S. 17th Street and Shipyard…
UNC Health plans Wilmington hospital
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ON THE JOB: “What is the Best Business Advice You’ve Ever Received?
Interviews by Deborah Jeanne Sergeant Sound advice can contribute to your success. We recently asked area business leaders, what was their best advice they’d ever received. Here’s what they said: “The best advice I ever received was from my then –boss, Gerry Church, Fulton plant manager at Miller Brewing Co. He told me that whenever I wanted to discuss a business problem or issue with him, I should also be prepared to offer possible solutions. It’s the difference between being proactive or reactive. It’s also the difference between being a leader or follower. That has served me well in any business relationship I have had since then.” — Stephen Chirello, Owner, Steve Chirello Advertising, Fulton “Someone will always do it for less; they will also take the most effort to service or satisfy and leave you for the next lower price.” — John M. Henry, Owner, Speedway Press, Mitchell Printing, Phoenix Press, Oswego “I’m going to answer this question by turning it around and giving my own advice that is, ‘Always treat every customer as if they were your only customer!’ We are celebrating our 50th anniversary in business this year. We started our business on March 25, 1976. My advice works.”” — Nick Chervinsky, President, Brewerton Pharmacy, Brewerton “’You need to toot your own horn, my grandfather, Howard D. Dice, told me.” — Beth Ann Dice, Women’s active aging and cancer recovery coach, Mission Movement Wellness Studio & Breast Cancer Recovery Studio, Fulton “In the micro enterprise class, they taught, ‘Get a good lawyer, accountant and bank.’ That was over 30 years ago and I still have those three today. I chose good people I could grow with.” — Tony Pauldine, Owner, Anthony M. Pauldine General Contractors Inc., Oswego “From my grandfather; ‘Listen to everyone! You never know where you will get the solution you need.’” — Kevin Dean, Executive director, Oswego County Opportunities, Fulton “‘Preparation is the mother of success.’ My dad always drilled that into my head growing up, and it has helped me avoid a lot of snags in both my personal and professional life. Thanks, Dad!” — Bekkah Frisch, Owner and president, iHeart Holdings, Inc., Fulton “If you don’t take a risk and try, you will never know.” — Justin Taber, Owner, Torbitt’s Service Center, Oswego “Be ready to take a loss.” — Cody Seymour, Manager, Damiano’s Eatery, Mexico “I’ve received so much good business advice over the years. When people are giving you advice, always be curious rather than judgmental. Follow your gut. Doing the right thing is never the wrong thing.” — Dana Decker, Principal owner/broker, Berkshire Hathaway Home Services, Oswego ’Do it and figure it out later.’ It hasn’t failed me yet. Too many people take time to think about doing this and this and this and then the opportunity is over with. If it’s somewhat reasonable — if it’s not something outrageous — do it and figure it out later.” — Jeremy Allen, Licensed real estate salesperson, Acropolis Realty Group, Syracuse “’Try to meet the needs of the customer. Treat them like you’d like to be treated.’ It’s like the Golden Rule says.” — Douglas Dickson, Physician and associate at CNY Foot Surgery and Podiatry Care, East Syracuse “The best piece of business advice I’ve ever received applies to life in general: always be honest. Never overstate your capabilities and always be willing to ask questions. The more specific you can be in any given topic will always lead to a better outcome.” — Tom Fernandez, President, Woodbine Hospitality, Syracuse “As a business owner, the advice would be ‘Don’t overextend yourself. Especially in agriculture, expect issues to come up.’ If something is going right, it’s not true agriculture. This last season, we scaled very hard to field another crew. We got more drones, crew and generators based on projections. This last season hit the ag community hard with a very wet spring. We did 15,000 to 20,000 acres for fungicide and the same for cover crop seeding in 2024. We scaled to 25,000 to 30,000 for 2025. We ended up doing 2,000 for fungicide and 3,000 for cover crop seeding. That’s why that advice was good.” — Rick Jordan, Operations manager, CNY Drove Services, Clinton “’Keep your head down, mind your own business and do the best for your clients that you can do.’ It has a lot to do with my success in working for Galloway Century 21.” — Ed Fayette, New York state licensed real estate agent, Century 21 Galloway, Oswego “’Expand in all ways, always.’ It just keeps you going and keeps you growing.” — Stephen Baier, Licensed real estate person, The Real Estate Agency & Bouck Commercial, Auburn “The best advice is, ‘Your biggest asset you won’t see on the books because it comes from your employees.’” — David Flickinger, Owner, Edible Arrangements, Syracuse “Don’t take things personally when you’re working with the public.” — Leeann Desimone, Manager, Annie’s Hallmark Shop, Auburn “‘Follow up.’ The customer knows that you care about what you are doing and that their opinion counts. Sometimes they might be on the fence about whether they want to use your company. If they’re asking your opinion on things, they feel you are concerned about what you’re doing. They like to be kept in the loop if they’re spending money with you.” — Dorothy Casper, Saslesperson, SweetWoods Memorials, Phoenix “The best business advice I received is ‘Never be the smartest person in the room. Surround yourself with people who are smarter than you.’ That’s how you learn.” — Debbie Bilello, Owner, Virtual Office Solutions, Central Square “’You need to grow your business but you can’t grow too big too fast.’ That’s what we’ve done at Pinnacle Maintenance. We’ve tried to grow but not too fast. Along those same lines, there’s another good piece of advice, ‘Don’t take on more than you can handle because it only leads to a bad name for your business and a bad experience for your customers.’ It goes along the same lines as growing your business slowly and carefully.” — David Wines, Owner, Pinnacle Maintenance, Central Square “Always be on time and do what you say you are going to do.’ I’ve done very well following that advice. Most of my work is referral and I don’t really do any advertising so I have a pretty good customer base. It’s mostly word-of-mouth from satisfied customers.” — Robert J. Fleming, Owner, Bob Fleming Windows & Doors, Brewerton “’Concentrate on your finances, always pay your taxes, and form a team you can depend on. Try to help the community you’re in as much as you can.’ We do all of these all the time here. We give and give and give to the community and the community gives back to us always.” — Susan Bonnet, Co-owner, Bonnet Sales and Service, Central Square “Keep smiling. It brings a positive attitude to the workplace.” — Karin Lindsley, Vice president, DTS Truck Service, Syracuse “‘Customer service above all.’ Following this advice has served us very well.’ — Guy Fox, Owner, Fox’s Discount Parts, West Monroe “The best thing to do is to make sure you’re taking in more money than you’re spending. I wish I could say I’m a good businessman but I have been in business since 1981. I’m not a bean counter but work well with my hands and its’s served me well all these years and I am still in business.” — Matt McGill, Owner, Matt McGill Collision, Brewerton
Seniors: Dennis Ouellette, 80
Ontario Orchards owner not slowing down as he grows his farm market By Stefan Yablonski The seeds for Dennis Ouellette’s career path were sown when he was 6 years old — and he isn’t slowing down. “Since age 6, I grew up an agriculturalist. That is 72 years. Started out with a 37-acre farm when I bought it from my parents and built it up to almost 300 acres. Brought it back down to around 200 acres now,” he said. The location of his business was just a barn, a horse barn, he said. “In 1967, it officially became Ontario Orchards Farm Market. My wife [June] and I graduated [high school] in 1964 and three years later we became Ontario Orchards. We have been here more than 60 years,” he explained. “It is the same location. We have expanded over the years as the customers mentioned different things; we have expanded to bring in different products. “What keeps me going is I totally enjoy what I am doing. I enjoy the people that I work with. The customers are wonderful. Mostly, more important than anything, is my family — my wife, my daughters, grandchildren, son-in-law — we are still very much a family business I’m not going to retire just yet.” He also enjoys the changing seasons. “Ontario Orchards is a four-season business. There is always something new; more energy, more interest. Not only for the business but for my staff, the people that work here. Things keep changing, changing. We are always looking forward to something new and exciting,” he said. They work with quite a number of local farmers within the area and throughout the state, throughout the country and from around the world.” “We do have things from different countries around the world. But specifically, we are very excited about the local. We have an over 200-acre farm. We sell just about everything we raise on that farm right here at the farm market. For example, we press cider year-round. We make baked goods every day, year-round. We sell our apples 12 months a year.” “Today, there are so many products in Ontario Orchards that we never would have thought of in 1967,” he continued. “I attribute a lot of that to my daughters. I like the young blood and new energy. That is very crucial to a business, it keeps it vibrant.” What’s his favorite part of the job? “I don’t have a favorite part. I enjoy it all. I have a lot of intertest in other things,” he said. “I have staff that knows so much. I can go to the staff and say, ‘I don’t know what this is, you tell me what this is.’ They are so knowledgeable. It is impossible for one person to know everything in this place. In the summer, staff is about 60; in the winter about 20, 25.” He added that he plans on being around for several more years.
Seniors: Carol Watson, 72
Owner of Carol Watson Greenhouse and Landscaping in LaFayette enjoys her growing business — still puts in six-, seven-day weeks By Mary Beth Roach Carol Watson, the owner of Carol Watson Greenhouse and Landscaping, has been in gardens since she could walk. Literally. She said she learned to walk in her grandfather’s garden, which was next door to her current home and business in LaFayette. Today, at 72, she is running the business that her mother, Claire, opened in 1981 as Watson Greenhouse. Watson worked part-time for her mom until 1990, when she joined her full time. While she may not have had any formal horticultural experience, she said she learned so much about growing and raising plants from her mom, who had an abundance of energy and talent. Now, after 35 years in the business full time, Watson has no plans to retire, although she joked that she’d like a couple of days off a week. On her seven-acre site, complete with four greenhouses, Watson said her favorite parts of the job are working with and educating her customers; helping some of her young customers build terrariums; conducting occasional class field trips; and supporting local art by decorating the shop with an eclectic mix of pottery from at least four area craftspeople. A one-time employee of the former Dey Bros. department store in Syracuse, Watson said she loves merchandising and enjoys displaying unique pieces of art on shelves and even suspending from ceilings. “We’re creative. We also had top quality plants. We got a reputation of quality plants and unusual products,” she said. It’s tending to her customers and her plants, showcasing the unusual products, and hosting special events to benefit the community that keep her motivated to work six to seven days a week. “I just love it. I love taking care of the plants. I’m one of the few people that really enjoys watering,” she said. And while she has cultivated a solid customer base over the years, she remains savvy in her marketing efforts to draw in new customers. For example, she does a gardening segment on CNY Central television; her active Facebook page has thousands of followers; and she hosts a number of unique events and classes that not only introduce her shop to potential new clients, but some benefit nonprofits as well. About 13 years ago, when the local symphony orchestra was struggling, she said she wanted to help. So, partnering with the group, she began offering concerts, called Soirees, featuring the Syracuse Orchestra’s string quartet. Following up on a suggestion from a customer whose brother is a deejay in retirement, specializing in sock hops, she hosted the greenhouse’s first sock hop. Plants got moved back toward the walls to make room for dancing; a caterer was brought in, offering diner-like food; guests came in period outfits; and proceeds went to the Food Bank of CNY. She is excited about doing it again in October. Via her website, she promotes the greenhouse as an “oasis in the snow,” offering visitors the opportunity to pick up some decorating and gift ideas while taking in the floral and citrus scents. And she also caters to her four-legged friends. Over this past winter, she said, she came up with a “brilliant idea,” although at the time she didn’t appreciate just how brilliant it would become. Feeling it too cold outside to take her dog for a walk, she opted to bring it into the greenhouse. And before long, she was inviting people to bring their dogs into the big greenhouse as well. She looks forward to extending that invitation again this upcoming winter season. For Watson and her customers, the greenhouse is always in season.
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McKinney advances plans for 300-acre sports and entertainment complex
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Council to explore Parkside entertainment center development
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