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CSUF computer science grad finds community and a career path
Mason Jennings has developed an AI-powered robotic dog to inspect short-term rental properties.
Scientists Identify The World's Biggest Known Scorpion, The Size of a Dog
Not to be messed with.
Scientists Identify The World's Biggest Known Scorpion, The Size of a Dog
Not to be messed with.
2026 and beyond
We were traveling through southern Missouri last week. Interesting country. Super nice people. Love the scenery. On highway 160, we drove past what appeared to be an old salvage yard and on the chain link fence was a sign that said: Business closed Do not enter Dog will bite I loved the simplicity of that […]
“Tech-Driven Prosperity & Right-Wing Racist Politics”: Quinn Slobodian on Elon Musk and SpaceX IPO
Ahead of the initial public offering for SpaceX, we speak with historian Quinn Slobodian, author of Muskism: A Guide for the Perplexed. He says Elon Musk is “creating a situation where he becomes deeply reliant on state contracts” as the U.S. government then becomes reliant on Musk. “It’s not about demolishing the government,” Slobodian says of his work with DOGE, the so-called Department of Government Efficiency that Musk led for the Trump administration. “It’s about making the government more compatible, ready for the kind of products that Musk offers, and to make him then an indispensable part of the infrastructure.” Slobodian goes on to warn that Musk’s wealth is helping to fuel his anti-immigrant, racist political ideology. “We really should be worried about the possibility of those things to live together: tech-driven prosperity and right-wing racist politics.”
Miami Democrat Annette Taddeo launches bid for Florida chief financial officer
“The job of the CFO is to be the watchdog, not the lapdog for the governor,” she said.
Pet Owners Prioritize Pet Health & Wellness Despite Rising Costs, Survey Shows
Plenty of household budgets have gotten tighter lately. Yet for many pet owners, there’s one line item they seem reluctant to touch: their pet. New survey data released by Elanco Animal Health suggest...
She started a dog treat business while serving in Air Force
An Air Force member has launched a dog treat business connecting her military service with her love of animals.
She started a dog treat business while serving in Air Force
An Air Force member has launched a dog treat business connecting her military service with her love of animals.
She started a dog treat business while serving in Air Force
An Air Force member has launched a dog treat business connecting her military service with her love of animals.
Trump allies wanted to ‘delete’ this consumer watchdog. Now it’s a political weapon.
The administration that tried to kill the Consumer Financial Protection Bureau has found a new use for it: advancing its political goals.
Small Business Spotlight: Dog-Eared Books
Main St. is home to many local businesses, including the only locally owned bookstore in Ames. Dog-Eared Books has been open since March 8, 2021. They offer a wide variety of books, community events and a small cafe section. The business is owned by Amanda Lepper and Ellyn Grimm, both originally from Ames and both...
The 12 Most Revolutionary Movies of 1976, a Year of Rebellion
Here 12 most revolutionary movies of 1976, a year when rebels and underdogs reigned at the box office. As America The post The 12 Most Revolutionary Movies of 1976, a Year of Rebellion appeared first ...
The Science Behind Why Your Pet Is Starting to Look… Human
From pugs to Persian cats, human aesthetic preferences are driving a new wave of convergent evolution.
Animals have personalities. Here’s what shapes them.
From shelter dogs to stickleback fish, the forces that shape animal personality are surprisingly familiar.
WATCH: Mace says Trump's endorsement hasn't sealed SC gubernatorial race: ‘It’s a dog fight’
Rep. Nancy Mace says Trump's endorsement of Lt. Gov. Pamela Evette hasn't resonated with grassroots Republicans in South Carolina's GOP primary.
Erdogan’s Turkey: descending into one-man rule?
The president’s campaigns against popular rivals have solidified his grip on power, but risky political moves could backfire
Crossfire Is a Single Player PS5 Shooter with Soul from Ex-Naughty Dog Devs
Friends close, enemies closer
Livid dog trainer customers say they paid thousands to SE Michigan business
Customers across Southeast Michigan say they were left out thousands of dollars after paying for dog training services they claim were never provided by Great Lakes Dog Training.
Vanderbilt Health Pets of the Day: Freddy and Cooper
Today’s first Dog of the Day is Freddy, submitted by Beth Piazza of the Vanderbilt-Ingram Cancer Center. “Freddy was adopted on Valentine’s Day of 2024 from the Nashville Humane Association. He is the cuddliest 90-pound lap dog.“ Today’s second Dog of the Day is Cooper, submitted by Brandie Taylor of Medicine. “Cooper is a 14 year old chocolate lab. He loves eating and going to get pup cups!” Freddy and Cooper were featured in the June 9, 2026, edition of MyVUMC News. To see the archived collection of Vanderbilt Health Pets of the Day, go to: https://news.vumc.org/section/voice/pets-vumc/. Pet photos wanted! The Vanderbilt Health Pets of the Day are posted to the Voice section of Vanderbilt Health News and included in regular editions of the MyVUMC News newsletter, which is published twice a week by Vanderbilt Health News and Communications. Now through July 6, we especially want to see photos of your pets enjoying spring and summer. That might be having fun at the lake or beach, hanging out in the backyard, lying on the couch, or in the case of a pet fish, just living the life aquatic (we’re not too strict about what constitutes enjoying spring and summer). If you have a pet picture you would like to send in for consideration, go to the submission form here and follow the guidelines.
Branch and Hudson Earn College Sports Communicators Academic All-District Honors
ATHENS-----University of Georgia senior shortstop Kolby Branch and senior first baseman/catcher Brennan Hudson have been named to the 2026 NCAA Division I Ac...
Business briefs, June 5
Senators push CMS to reinstate nursing home ownership reporting requirements … New DOJ toolkit could turn EMTs, cops into nursing home watchdogs … Combatting racism in senior living and care requires ‘institutional courage’ to avoid status quo … CNA coverage declined, but few other staffing ramifications of COVID immunity … SNFs, aging Americans helping drive strong interest in healthcare property investment … Kendal launches comprehensive ‘brand evolution’
Opinion: UFC is cutting corners
The Ultimate Fighting Championship's releases of Ketlen Vieira and Daniel Marcos show how much the UFC is struggling with finding a balance between entertainment and competition, writes Dayne Fox.
Chi-Town Hot Dogs plans comeback, honoring legacy of co-founder Donna Johnson
Five years after shutting down operations, Chi-Town Hot Dogs is planning a comeback while honoring the memory of one of their founders – Donna Johnson.
Bears are playoff underdogs according to 46.5% ESPN playoff projection
This is not the kind of projection Bears fans want to see.
Amazon’s new plan for games: James Bond and AI Snoop Dogg
Amazon is trying a few different things to see what sticks.
Column: I’m Disengaging a Bit from Politics This Summer. Join Me
Columnist Tim White shares his aversion to political partisanship and recommends taking a break from politics to enjoy the summertime.
Newcastle Announce Fabian Schar News After 2025-26 Season
Newcastle United have secured the future of veteran defender Fabian Schar just before his contract ended on July 1. The Mapies announced on Tuesday that the Swiss international has signed a new one-year contract through the end of the 2026-27 season, keeping him in tow under manager Eddie Howe for a ninth campaign. Schar joined […]
Google must give UK publishers choice to block AI search summaries, says competition watchdog
Rolling coverage of the latest economic and financial news
The Business-First IP Playbook: David Hyams on Mapping Business Value and the Limits of General LLMs
In the latest episode of IP Innovators, host Steve Brachmann sits down with David Hyams, Co-Founder and Chief Business Development Officer of Longship Legal, to explore what it looks like to build an IP practice around business value rather than patent volume.
BTS, Cardi B, Lainey Wilson, Muse, Snoop Dogg and others will perform at iHeartRadio Music Festival
K-Pop band BTS, Benson Boone, Cardi B, Lainey Wilson, Major Lazer, Muse, Snoop Dogg and Zara Larsson are among the performers this fall at the 2026 iHeartRadio Music Festival in Las Vegas.
‘Hellacious’ car noise is affecting Charlotte businesses. How will officials act?
Local businesses and residents say noisy cars have been a big issue in Charlotte.
Astrophysicist Paz Beniamini snags science prize — a feather in the cap for underdog Open University
In a first for the 52-year-old institution, Beniamini wins the Blavatnik Awards for Young Scientists in Israel for physics based on his work on 'extreme' events
Official | Davide Ancelotti appointed Lille head coach
Lille OSC have announced the appointment of Davide Ancelotti to fill their managerial vacancy. Les Dogues were on the market for a head coach following Bruno Genesio’s exit, the latter is reported...
Veterans face surprising threat after cancer diagnosis, study reveals
A new JAMA Oncology study finds veterans with cancer face elevated suicide risk that can persist for up to five years following their diagnosis.
Lightweight clash added to UFC Belgrade lineup
Ludovit Klein will lock horns with Tofiq Musayev at UFC Belgrade.
Georgia lands towering 2027 OT DJ Dotson
Hattiesburg (Miss.) Oak Grove three-star offensive tackle DJ Dotson has committed to Georgia. He chose the Bulldogs while taking his official visit to Athens this weekend. Georgia Tech and Ole Miss were among his other top contenders. Dotson is the No. 933 overall prospect and No. 72 OT in the 2027 cycle, according to the Rivals […]
Despite having Victor Wembanyama, the Spurs' journey to the NBA Finals is an underdog tale of sacrifice, unity and belief
New York Yankees @ The Athletics: Carlos Rodón vs. Luis Severino
The Yankees look to keep the winning streak going as they kick off a series on the west coast.
How Mississippi State bonded with a broccoli-wielding fan and went on a Cinderella run
The Bulldogs have knocked off some of the best programs in the country while putting cruciferous vegetables all over television screens.
Study: LA Canine Outbreak Caused By Low Vaccination Rates, Crowded Boarding
By Dennis Thompson HealthDay ReporterFRIDAY, May 29, 2026 (HealthDay News) — Critical gaps in vaccination and infection control led to a leptospirosis outbreak that sickened more than 200 Los Angeles County dogs in 2021, according to a new study. The outbreak occurred at doggie daycares, where close ...
Dillon Brooks’s partnership with Underdog Sports at the heat of controversy
The “Villain” is keeping the Suns in the NBA conversation even a month after their elimination.
Newsom wants to claw back Trump fund cash as California burns billions on rail and other boondoggles
Gov. Gavin Newsom proposes a 100% tax on Californians who receive money from Trump's Anti-Weaponization Fund, calling it a reward for Jan. 6 rioters.
Mamdani launched his own version of DOGE
Mayor Zohran Mamdani is launching his own government efficiency effort to cut red tape and reduce unnecessary spending in NYC.
Elite edge rusher puts Georgia football in his top-5
The Georgia Bulldogs are among the top five schools for in-state edge rusher Olayiwola Taiwo, who plays for Lovejoy High School
Report: Shai Gilgeous-Alexander's lawyers send cease-and-desist letter to Underdog Sports
A cease-and-desist letter was sent to Underdog Sports regarding a promotion making fun of Shai Gilgeous-Alexander's efforts to draw fouls, according to The Athletic.
Women's College World Series scores, live updates: Texas Tech-Mississippi State opens up WCWS after Bulldogs knock OU out of 2026 NCAA softball tournament
Shai Gilgeous-Alexander's lawyers reportedly send cease and desist to Underdog Sports over foul-baiting board game
Underdog Sports receives cease-and-desist letter from Shai Gilgeous-Alexander’s lawyers
The lawyers for Oklahoma City Thunder superstar Shai Gilgeous-Alexander issued a cease-and-desist letter to Underdog Sports over a promotion from the fantasy sports company that mocked the reigning two-time NBA MVP’s effort to draw fouls, Jason Jones of The Athletic reported on Wednesday night. Underdog Sports created a game called “Unethical Hoops” based on the…
Shai Gilgeous-Alexander’s lawyers issue cease & desist to Underdog for game mocking flops
The letter also asks that all board games be destroyed and that Underdog not use SGA’s name, image or likeness without his permission.
N.Y. advocates call on Hochul to fully staff state's jail and prison watchdog
Of the vacancies, there is a full-time position and two part-time openings.
The Hampton and Peninsula Health Districts seek the public’s help to find dog
NEWPORT NEWS, Va. (WAVY) — The Hampton and Peninsula Health Districts need the public’s help to find a dog that bit a person near Shore Drive in Newport News on May 22, according to a press release. The districts are looking for a small gray, tan and black American pit bull terrier that bit someone […]
Mississippi State softball faces sport's richest pitcher
Mississippi State softball is playing in the Women's College World Series. The Bulldogs' first opponent is Texas Tech, which has the sport's highest-paid pitcher.
Dodgers prospect Kendall George may have sustained serious knee injury while avoiding team's bat dog
Kendall George came up limping after jumping out of the way to avoid a bat dog.
Double-digit premium hikes push Michigan small businesses to reconsider health coverage
Small businesses owners say they may drop employee health insurance coverage altogether because of rising costs.
Dog daycare leptospirosis outbreak in Los Angeles reveals broader public health risks
A 2021 outbreak of leptospirosis that sickened more than 200 dogs in Los Angeles County reveals critical gaps in vaccination practices and raises broader concerns about the spread of the disease between ...
Nothing but Thieves announces new ' Stray Dogs' album + North American tour
Nothing but Thieves has announced a new album called Stray Dogs and a 2027 North American tour in support of it.The record is due out Sept. 25 and includes the single "Evolution," which dropped earlie...
Former Razorback star receiver Anthony Lucas to speak at Hawgs Illustrated Sports Club luncheon
Former Arkansas star wide receiver and new Fayetteville Bulldogs head coach Anthony Lucas will be the guest speaker at the June 3 Hawgs Illustrated Sports Club luncheon.
SpaceX’s AI Business Waits for Liftoff | AI & Business for May 26
Plus, California studies AI job losses, Anthropic’s revenue soars and Nvidia plays the role of $5 trillion underdog.
Holding the Veterans Affairs Secretary Accountable for the Severely Damaged Veterans’ Health Care System | American Postal Workers Union
In February 2025, representatives from Elon Musk’s Department of Government Efficiency (DOGE) began working with the newly appointed Department of Veterans Affairs (VA) Secretary Doug Collins to identify alleged wasteful contracts and improve VA operations. DOGE cancelled hundreds of VA contracts and carried out thousands of staffing reductions, including the dismissal of probationary employees, under […]
WATCH: Family finds missing dogs after losing business in Opa-locka fire
WATCH: Family finds missing dogs after losing business in Opa-locka fire
'Absurd': Social Media Misquotes Journalist, Erroneously Claims Sony Is Angry at Naughty Dog
Another day at the office
The Knicks may be beating up on a weak East, but they're more than qualified to face the Spurs or Thunder
The Knicks will be underdogs if they make the Finals, but they can certainly give the Thunder or Spurs a fight
Georgia tops Arkansas, wins first SEC Baseball Championship
Jack Arcamone drove in four runs with a home run and a single and the Georgia Bulldogs, the tournament's top seed, won their first SEC Baseball Championship, defeating the Arkansas Razorbacks 11-1 in seven innings on Sunday in Hoover, Alabama.
Scientists say house cats could help unlock new cancer treatments for humans
Scientists have cracked open the “black box” of feline cancer in a landmark study that genetically analyzed nearly 500 cat tumors from around the world. The research uncovered striking similarities between cancers in cats, dogs, and humans — including shared cancer-driving genes tied to aggressive breast cancers.
Scott Coker shares more details regarding new MMA promotion
If one thing is inevitable about any Scott Coker-led MMA promotion it’s this: There will be a tournament.
New Raiders coach's wild 5-word Brock Bowers description
Las Vegas Raiders head coach Klint Kubiak gave a complementary five-word description of former Georgia Bulldogs tight end Brock Bowers.
Weather Chat | The science behind rainbows, halos & sundogs
Have you ever wondered how a rainbow forms or what that ring around the sun or the moon means?
Review: Best hot dog brand for a Memorial Day cookout
Applegate's organic hot dogs had the best savory flavor and snap, making it my choice for Memorial Day cookouts.
An iconic CT business draws customers from across the state. It’s called tastier than ‘the ballpark’
‘It feels amazing to run a business that has been a tradition for many families to eat at,” said the owner, who was also once a customer.
Bozeman Health recognized for hospital safety
Bozeman Health is getting national recognition after earning a hospital safety grade from a leading watchdog group.The Leapfrog Group recognized Bozeman Health
Entertainment Commission Scrapped in Mayor's Proposed Budget
The commission — hatched as a city hub for film and music promotion — has been dogged by political fights and procedural issues
2026 MLB Odds: Back Up-And-Coming Brewers Ace for NL Cy Young
The NL Cy Young race is already a dogfight. But Will Hill sees a lesser-known name he likes to make a run at the award.
Turkey opposition vows to resist court ruling ousting leader as political crisis deepens
Analysts said the ruling, seen as a test of Turkey’s shaky balance between democracy and autocracy, could further prolong President Tayyip Erdogan’s 23-year rule.
Outdoor movies return to King County's Marymoor Park with food trucks, entertainment, dog-friendly activities
Outdoor movies return to King County’s Marymoor Park on July 8, as the KeyBank Movies at Marymoor series launches its 22nd season of outdoor films, entertainment, and food trucks. Events run weekly through Aug. 26.
Will science scandals ruin reputation of century-old journal Nature in China?
Chinese academic watchdogs and online detectives are exposing growing numbers of problematic papers in Nature journals.
4 New Additions At The 2026 Wienie 500 — Including Commander In Beef Andy Richter
From the Commander in Beef to a new dog in the fight, here are four fun additions that fans can expect to see at the second-annual Wienie 500.
Syracuse auditor's report: City behind on animal shelter regulations
Marion also says the animal control functions of the city should move from the police department to the department of parks.
Scientists say this oral spray may finally cure your dog’s nasty breath
If you have a dog, you know the exact moment when the honeymoon phase is over. It often happens during a cosy morning cuddle when your furry best friend leans in for a sweet puppy kiss, and you’re hit with a wave of breath so foul it could strip paint.
What will the Lakers look like with top Dodgers execs helping lead the way? That's the big question in L.A.
Barney Frank, 86, left mark as trailblazer in politics
BOSTON — Former Congressman Barney Frank, the first member of Congress to voluntarily come out publicly as gay and a liberal bulldog who left his fingerprints on the nation’s banking regulations, died on Wednesday. He was 86. Frank announced in early May that he had begun hospice care at his home in Maine. “He has […]
Oral spray may cure your dog's nasty breath once and for all, scientists say
It'll take their breath away.
Pentagon watchdog evaluating US operations involving strikes on alleged drug boats
The Defense Department’s internal watchdog has said it is evaluating US Southern Command’s operations that have included strikes on alleged drug-trafficking boats in the Caribbean Sea and Pacific Ocean.
Baking soda & vinegar volcanoes with Mad Science of Austin & SA
French bulldog found outside Walgreens being cared back to health
Officials are caring for a French bulldog mix named Miracle who was found in bad shape in Fort Lauderdale.
Riverrock brings festivities, outdoor sports to Belle Isle for 18th year
Richmond’s beloved sports and music festival Riverrock brought together athletes, crowds and dogs for three days of outdoor activities, family fun and live entertainment this weekend.
The Bookies Bookstore suggests books on pups, murder and politics
The staff from the Denver bookstore recommends meditations on dogs, a deadly tourist trap and teenagers in political power.
Elite Georgia WR decommit decides on top three schools
Three-star wide receiver Aden Starling, who decommitted from the Georgia Bulldogs, has listed his top three schools
The world according to the absorbing and amazing nose of a dog
It’s a sensitive instrument that humans have not been able to duplicate.
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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