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Spurred by Pulitzer Prize-winner's visit, business leaders grapple with state's housing crisis
The capital of Georgia — a city of more than 500,000 people nearly 1,200 miles away, where African-Americans outnumber their white counterparts — bears a striking similarity to New Hampshire’s capital. In Atlanta, like in Concord and countless municipalities across the country, housing costs have far eclipsed what working people can afford. Brian Goldstone, journalist […]
NASA Satellites Observe Historic 2026 El Niño
A phenomenon rarer than a solar eclipse and more powerful than any single storm system is unfolding this fall, and NASA is tracking it closely.
Amazon launches new "personal AI" devices that can listen to your conversations and take notes
The products include a silicone wristband that can be clipped to clothing and a device that magnetically attaches to the back of a phone.
Amazon launches new Bee 'personal AI' devices that listen to conversations
The $75 Bee Frontier is an upgraded version of Amazon's wearable bracelet, while the $100 Bee Eclipse attaches to a user's smartphone.
Wisconsin running back commit eclipses 100 touchdowns in second season
Wisconsin football commit Kingston Allen hit a milestone in his high school career, the second player in Wisconsin history to record 100 touchdowns.
Can Nikola Jovic Replicate Miami Heat Record-Breaking History?
After Bam Adebayo eclipsed Kobe Bryant’s scoring mark, Miami Heat's Nikola Jovic claims he can top the new record as he enters a high-stakes, championship-or-bust season.
Why Lightning Never Strikes Straight: The Surprising Science Behind Each Bolt - Futura-Sciences
The Great Lightning Paradox If you think science has most things figured out, think again. As physicist John Lowke of the University of South Australia observes, we can predict lunar and solar eclipses down to the fractional second, yet large mysteries remain around something as everyday as lightning. Lowke’s research—published...
Bosnia elections overshadowed by exodus and geopolitics as ethnic politics eclipse real problems
Bosnia goes to the polls on October 4 to elect several parliaments and presidents. While voters worry about the economy and emigration, the campaign is focused on ethnicity, exposing the country's political paralysis.
Misiorowski Guides Brewers to 103rd Win in Regular Season Finale
Cy Young favorite Jacob Misiorowski dominated St. Louis, securing Milwaukee’s 103rd victory and a first-round postseason bye as Brice Turang eclipsed the 100-RBI milestone in the finale.
NFL Week 2 Sunday Night Football—Best Player Props
Find out which running back should be busy and eclipse his player prop for rushing yards, and which receiver has a compelling case to go over his receiving yards prop.
Eclipse Business Capital Adds Charlie Bacon to its Business Development Team
Eclipse Business Capital (EBC) added Charlie Bacon as a managing director.
From Blyth to the Basque Country: Cherries break new ground
As Bournemouth rose through the divisions, former manager Eddie Howe would make sure his squad were aware of when new landmarks were being set. Before the Bolton game in 2015 which secured promotion to the Premier League, he showed his players a video of the club's history to that point, inspiring them to take that final step to the big time. A decade later, Andoni Iraola would take great pride as his Cherries side eclipsed Howe's records of their highest top-flight points tallies and league placings, with a sixth-placed finish last term unlocking the door to Europe.
Trump says the only AI guardrails the U.S. needs is him as president
He's opposed such efforts and claims doing so could cause China to eclipse America on AI development.
Aroostook County couple launches ‘walking taco’ business after eclipse success
Angelina and Chuck Jackman, owners of Amity-based Jack’s Walkin’ Tacos, just won a $25,000 business grant.
Aroostook County couple launches ‘walking taco’ business after eclipse success
A soft opening for Jack’s Walkin’ Tacos is planned for Oct. 1.
Former Net Durant Tops NBA All-Time Career Earnings List
Propelled by massive Brooklyn contracts and a late-career evolution, the 16-time All-Star eclipsed $591 million in total salary to cement his status as the league's ultimate financial heavyweight.
Space News: NASA Johnson pilots chase Moon’s shadow for eclipse science
During the Aug. 12 total solar eclipse over Europe, scientists aimed to study a long-standing mystery: why the Sun’s outer atmosphere, the corona, is far hotter than its visible surface. Capturing the data they needed meant being in exactly the right place at the right time.
Photos: Partial lunar Eclipse over St. Louis delights at Science Center
Hundreds of people showed up at the St. Louis Science Center James S. McDonnell Planetarium to watch a partial eclipse unfold under clear skies on Thursday, Aug. 27, 2026. Members
Tucson Now: Flandrau Science Center and Planetarium hosts lunar eclipse event
Lucas Snyder joined Devyn Shea to talk about tonight's event.
Lunar Eclipse Thursday Night: The Science Behind the Blood Moon and How to See It
Tonight, a little after 11 PM, our moon will look a little different. A partial lunar eclipse is coming on Thursday night, August 27, 2026. The moon will begin
Oakland's Chabot Space and Science Center to host lunar eclipse watch party
The partial eclipse is expected to begin at 7:33 p.m., with the eclipse reaching its maximum at 9:12 p.m.
NASA Johnson pilots chase moon's shadow for eclipse science
During the Aug. 12 total solar eclipse over Europe, scientists aimed to study a long-standing mystery: why the sun's outer atmosphere, the corona, is far hotter than its visible surface. Capturing the ...
Lunar eclipse watch party set for Chabot Space & Science Center
(BCN) — Bay Area residents will have a chance to watch a partial lunar eclipse Thursday night, weather permitting, at the Chabot Space & Science Center in Oakland. The center will start h…
NASA Johnson Pilots Chase Moon’s Shadow for Eclipse Science
Pilots from NASA’s Johnson Space Center flew the WB-57F high altitude research aircraft from Ellington Field in
Rare red northern lights may be visible alongside red moon during tomorrow night's partial lunar eclipse
Moderate G1 and G2 geomagnetic storms are forecast during the Aug. 27-28 partial lunar eclipse, with the northern lights potentially visible across several northern U.S. states and parts of Canada alongside the reddened full moon.
Complex System Of Four Orbiting Stars Creates A Series Of Eclipses We've Never Seen Before
One of the most compact double-binary systems we've ever seen has something truly special going on.
Eclipse watching and portable planetarium for Liberty Science Center
The Liberty Science Center in Jersey City celebrates its portable planetarium Aug. 25, then welcomes the eclipse with a "SpongeBob" laser show Aug. 27
Bipartisan Energy Politics | Reading and Podcast Picks
Reading and Podcast Picks is a collection of what we’ve been reading and listening to over the last week or so about energy topics. In addition to these R&P Picks, paid subscribers receive access to the full archives, Grid Roundups, and select episodes of the Energy Capital Podcast. Please subscribe today. Texans, legislators debate transmission lines at hearing | Texas Tribune “Republican legislators, Democratic statewide candidates, landowners from rural Texas and environmentalists” alike joined together Wednesday to protest the buildout of 765-kV lines across the state. At the protest and nine-hour hearing that followed, lawmakers heard a variety of recommendations, including from local officials arguing for more local control of data center proposals and more time to reform the process behind approving transmission lines across Texas. Though discussed in separate hearings, landowners and protesters said the issues are connected… Regulators have already been working through a new way to decide how much of the cost of building new transmission lines needs to be paid for by individuals and how much needs to be paid for by companies such as data centers. Experts said they believe the new system will lower the burden on residential consumers relative to the industrial groups. Data-Center Backlash Leads to New Land Rush in Texas Oil Patch | The Wall Street Journal While the data center protests rage, investors converge on the Permian Basin to build data centers powered by cheap natural gas. “A lot of places you see all over the country they’re worried about water, they’re worried about power, they’re worried about transmission, and the Permian has all of those things in spades,” said EagleRock Chief Executive Greg Pipkin Jr. Dallas-Fort Worth Dethrones Virginia as the World’s Top Data Center Market | Dallas Innovates Two reports show growth in North Texas data centers despite political concerns about the industry. Boasting five highly ranked data center markets, Texas is experiencing an explosion of data center activity. Long anchored by the DFW market, “the state is growing at a pace that could soon bring total installed capacity in line with — and potentially beyond — that of Virginia,” the Cushman & Wakefield report said. A new report from commercial real estate services provider JLL takes a slightly different view, anointing Texas the top data center market in North America. Texas eclipsed longtime frontrunner Virginia based on the level of existing and under-construction data center inventory in the state as measured by gigawatt capacity. A gigawatt equals 1 billion watts.
We Played Tides Of Annihilation For Two Hours And Came Away
Senior Associate Editor Wesley LeBlanc traveled to Chengdu, China, to go hands-on with Eclipse Glow's debut action game. - Game Informer
NICK STROBEL: Lunar eclipse on tap for Aug. 27
Venus now begins its slow descent back toward the sun as it catches up to Earth in its faster inner orbit. Because Venus' orbit is so close to Earth's, Venus'
Middle Georgia skywatchers get a sunny science lesson, eclipse or not
Even without a solar eclipse overhead, skywatchers in Middle Georgia still found a way to join in the excitement Wednesday — with a little help from science, a
The total eclipse in Spain, in pictures
The astronomical event crossed the Iberian Peninsula on Wednesday, with totality visible only along a narrow west-to-east corridor
DR Congo Ebola outbreak set to become deadliest on record, WHO warns
Outbreak to eclipse West Africa's Ebola outbreak of 2014 to 2016 if it continues at current pace, WHO chief says.
Bay Area science centers to host eclipse, meteor shower events
Bay Area science institutions will host events for people interested in today's total solar eclipse and the Perseid meteor shower.
A Space Expert Hoped to Use the Eclipse as Science Class. The D.J.s Had Other Plans.
Mar Carretero-Castrillo, an astrophysicist, returned to her remote village in Spain to be in the path of totality. Hundreds of partygoers came too.
After Microsoft threatened legal action, a security researcher publishes a new Windows zero-day bug
This is the latest zero-day released by security researcher Nightmare Eclipse, despite Microsoft publicly threatening to take legal action against them.
Atlantic Trivia, August 12, 2026: Faith and Science
Spain marketed itself as the lone populated place where today’s solar eclipse “can be fully enjoyed”—a snub to what cloudy Nordic capital also in the path of totality?
Solar eclipse 2026 today: Don't take eclipse photos with your phone, NASA warns
Enjoy the 2026 solar eclipse with glasses instead.
The Perseids Meteor Shower Is Peaking. Here’s How to Watch.
The Perseids will be most active on Wednesday into Thursday morning, on the moonless night after a total solar eclipse.
Montana State students to help NASA science soar during 2026 total solar eclipse
BOZEMAN — Each total solar eclipse — when daytime skies darken and the sun briefly reveals its outer atmosphere, or corona — presents new opportunities to better understand our star,
Who can see this year’s total solar eclipse
A total solar eclipse will darken the skies on Wednesday. Here’s who gets to see it — and why.
The sun will vanish over Europe in a rare total solar eclipse: Watch live
A total solar eclipse will plunge parts of Europe into darkness on August 12, 2026, with Spain offering some of the best views. ESA will livestream the spectacle from the Javalambre Observatory, combining telescope feeds, drone footage, and expert commentary. At 20:31 CEST, the observatory will experience 1 minute and 21 seconds of totality, revealing the Sun’s normally hidden outer atmosphere.
This Week's Total Solar Eclipse Will Occur On The Perseids Meteor Shower Peak – For The First Time In Recorded Science History
We went through 5,000 years' worth of eclipse data so you don't have to.
Italian scientists ready new solar instrument for high-stakes eclipse test
Sheltered from the blazing summer sun, a group of scientists in the northern Italian city of Padua spent weeks in a laboratory finalising an instrument they say could transform the study of the solar corona, the outer layer of the sun's atmosphere.
Starwatch: Deep partial solar eclipse in UK to precede the Perseids
The eclipse will begin just after 6pm on 12 August, reaching its maximum just over an hour later
How to spot the Perseid meteor shower, a summer light show that promises to dazzle
The meteor shower's peak Wednesday night into Thursday morning coincides with a total solar eclipse across Spain, Iceland and Greenland and a six-planet parade — though the best time to view the fireballs will come after totality.
Don't let Abdul El-Sayed's identity eclipse his actual politics
The concern is how easy it is for Republicans to "other" El-Sayed, so when he questions our spending priorities it can be painted as un-American or antisemitic.
‘You’re hit with a slam of shadow’: Nasa’s air mission to capture rare eclipse data
Two aviators will take off from Iceland to take pictures of the sun while flying at high altitude along solar eclipse’s path
Cal Academy celebrates total solar eclipse with musical scientists
The event will include education about the sun, eclipses and the tools researchers use to study the solar system
This may be one of the most stunning parts of a total eclipse
Despite advances in science, the corona, or outermost part of the sun’s atmosphere, remains mysterious. Wednesday’s total solar eclipse provides a chance to study it.
Shadow bands are an eclipse mystery scientists are trying to unravel
Solar eclipse viewers often witness a phenomenon known as shadow bands just before and after totality. An upcoming eclipse offers a new chance to study this mystery.
Montana State students to help NASA science soar during 2026 total solar eclipse
MSU’s Nationwide Eclipse Ballooning Program draws international interest as Aug. 12 event nears.
Science Campaigns Planned for the August 12th Total Solar Eclipse
Several science campaigns funded by NASA and ESA plan to greet the racing shadow of the Moon on August 12th.
Column: Don't let Abdul El-Sayed's identity eclipse his actual politics
Questions about his electability have little to do with his résumé and more to do with him being the son of Egyptian immigrants who prays five times a day.
A spectacular solar eclipse is coming. Here’s how to see it.
Here’s where the August 12 eclipse will be visible, what viewers can expect—and why even a partial eclipse requires proper eye protection.
Kevin Monahan Inks With Eclipse Music Publishing & Ebach Entertainment
Kevin Monahan has signed with Eclipse Music Publishing in partnership with Ebach Entertainment [...]
Featured Image: Citizen Science and Solar Structure
Citizen scientists from the Dynamic Eclipse Broadcast Initiative recorded nearly an hour of coronal behavior during the 8 April 2024 solar eclipse.
The IAC and California-based Predictive Science Inc Predict the Solar Corona for the August 12 Eclipse Using the La Palma Supercomputer
Ahead of the upcoming solar eclipse on August 12, the Instituto de Astrofísica de Canarias (IAC), in collaboration with the research group Predictive Science Inc. (PSI, San Diego, California), has successfully simulated in high detail the structure of the solar corona that will be visible during totality along the path of totality, including Palencia, where the IAC will gather more than 40 spanish, moroccan, and american astronomers.
Lunar eclipse, meteor shower set to light up the night in August
A near-total lunar eclipse and the Perseid meteor shower will light up the nights of August, making up for a solar eclipse too far away to make more than a dent locally.
Catch an orange 'Buck Moon' rise tonight before a month of solar and lunar eclipses
July's full moon will be at its best on the night of July 29. It's the last regular full moon before a total solar eclipse and partial lunar eclipse in August.
NASA science soars during August total solar eclipse
Each time the moon covers the sun during a total solar eclipse—darkening daytime skies and briefly revealing the sun's ethereal outer atmosphere, the corona—it presents new opportunities to better understand ...
Centene Reports $1 Billion Profit As Health Insurer’s Costs Ease
Health insurer Centene’s net income eclipsed $1 billion in the second quarter as the company is getting a better handle on rising costs of people in its health plans.
NASA Science Soars During August Total Solar Eclipse
Each time the Moon covers the Sun during a total solar eclipse — darkening daytime skies and briefly revealing the Sun’s ethereal outer atmosphere, the corona
Iran war casualty count eclipses 600 as Pentagon quietly changes accounting
The Pentagon updated its war casualty database Saturday, recording more than 140 new wounded and restoring the four soldiers killed due to Iranian strikes last weekend.
Eclipse Business Capital Provides $55MM ABL Credit Facility to Food & Beverage Industry
Eclipse Business Capital (EBC) provided a $55 million asset-based lending credit facility to a premier frozen food supplier.
How soccer eclipsed separatist politics in Spain
Their regions were once known for terror and division. Now Basques and Catalans have come to dominate the Spanish squad, while influencing the game all around the world.
Jennifer English Steps Away From Tides of Annihilation Role Due to Health Concerns
English actress Jennifer English is stepping away from her role as the protagonist in Eclipse Glow Games’ Tides of Annihilation due to health issues.
Elevance Health Profits Eclipse $1.4 Billion As Costs Ease Somewhat
Elevance Health reported second quarter net income of $1.45 billion as medical costs fell in some health plans, triggering an improved outlook for the rest of the year.
August's solar eclipse inspires science involving jets, balloons and Einstein’s general theory of relativity
Solar eclipses are a rare and brief opportunity for scientists to gather data on everything from the physics of the sun to air pressure in the upper atmosphere
2026 eclipse: 5 citizen science projects you can contribute to
During the August 2026 solar eclipse, scientists will be rushing to gather data on the sun, but even if you aren't a professional scientist, you can still help the research
Patch for Windows Defender 0-day could allow attackers to fill hard disk
The feud between NightmareEclipse and Microsoft shows no signs of resolving soon.
Bonnie Tyler’s ‘Total Eclipse of the Heart’: The 5 greatest movie moments
Tyler’s iconic power ballad has elevated scenes in comedies, dramas, and even horror movies.
Bonnie Tyler’s Cause of Death: Health Timeline of Coma and Illness
The “Total Eclipse of the Heart” singer had been in a coma after undergoing emergency intestinal surgery.
Bonnie Tyler, 'Total Eclipse of the Heart' singer, has died at 75
Tyler earned three Grammy nominations and represented Britain at Eurovision in 2013
Bonnie Tyler dies: 'Total Eclipse of the Heart' singer was 75
Bonnie Tyler, the husky-voiced powerhouse vocalist who delivered memorable and dramatic pop-rock songs including 'Total Eclipse of the Heart' in the 1980s, has died.
Bonnie Tyler, singer of 'Total Eclipse of the Heart,' dies aged 75
"We will issue a further statement shortly but for now ask for privacy to deal with this tragedy," the singer's family said.
Bonnie Tyler, who topped the charts with epic 'Total Eclipse of the Heart,' has died at 75
Bonnie Tyler, the gravelly voiced, Grammy-nominated Welsh pop star best known for singing the chart-topping power ballad “Total Eclipse of the Heart” in 1983 and seeing new generations succumb to its bombastic charms during solar and lunar eclipses, has died. She was 75.
Trump filing shows he took in about $1.2 billion from crypto businesses last year
Mere startups when he took the oath of office, the new ventures have now eclipsed in revenue much of his vast property portfolio that took him decades to accumulate.
Trump raked in more than $1bn from crypto businesses in 2025, filing shows
President’s crypto ventures have eclipsed in revenue much of his property portfolio that took decades to accumulate
VIDEO: Champion Immersive's Buddy System In The Paddock
Every winning horse race is a team effort, but some require more teammates than others. Ahead of last Saturday's Grade 2 Fleur de Lis Stakes, Eclipse Award winner Immersive was accompanied by outrider Lee Lockwood and his horse LM Jokester in the Churchill Downs paddock, providing the 4-year-old ...
With the Threat of Layoffs Looming, Quantic Dream Staff Say They're Going on Strike to Save Star Wars Eclipse From Cancelation
A new report has shed light on the goings on at French studio Quantic Dream and revealed concern about the future of Star Wars Eclipse.
Star Wars Eclipse "literally cannot be finished" without more staff, insist striking Quantic Dream developers
Striking staff at Quantic Dream have warned that if the studio proceeds with layoffs, its upcoming Star Wars Eclipse game "literally cannot be finished".
Star Wars Eclipse "literally cannot be finished" if layoffs go through, its devs reportedly say
"We absolutely need the 115 people who have been inactive (or almost) for a month already."
Star Wars Eclipse in danger of cancelation, claim striking Quantic Dream developers
Workers protested in Paris over proposed layoffs at the Star Wars Eclipse studio…
Quantic Dream Developers Strike to Save Star Wars Eclipse, Warning that 115 Layoffs Would Doom the Unfinished Game
Quantic Dream developers are striking to save Star Wars Eclipse, warning that 115 layoffs would leave the unfinished game without a future.
Starlink veterans launch startup to broaden megaconstellation ownership
Former SpaceX engineers who helped build and scale Starlink have launched a startup aiming to deliver megaconstellations for governments and companies seeking more control over space-based infrastructure.
Bonnie Tyler wakes from coma 1 month after emergency intestinal surgery, but remains 'very unwell'
'Total Eclipse of the Heart' singer Bonnie Tyler is awake one month after being placed in an induced coma to aid her recovery from emergency surgery.
Bonnie Tyler’s Team Shares Major Health Update After Coma
The “Total Eclipse of the Heart” singer has been in a coma since May.
Chaotic Eclipse Strikes Again: New Zero-Day Unlocks BitLocker in Four Hours of Research
GreatXML bypasses BitLocker via Defender offline scan artifacts, giving SYSTEM shell in Recovery Mode. No patch exists.
U.S. Accounting Undergraduate Enrollment Continues to Outpace Growth Rate for Business Majors Overall
/PRNewswire/ -- Accounting undergraduate enrollment in U.S. colleges and universities showed strong growth in spring 2026 and continued to eclipse the...
We’re back: Proba-3 ready for more science
The Proba-3 mission’s Coronagraph spacecraft and its main scientific instrument, ASPIICS, are both at full health, ready to resume routine formation flying operations and deliver more breathtaking artificial eclipses.
Planet nine mystery deepens as new discovery challenges hidden planet theory
Astronomers have spent years searching for a possible hidden giant planet far beyond Neptune. Unusual orbits among distant Kuiper Belt objects have fueled the Planet Nine theory, but recent discoveries are challenging the idea by showing more stable motion than expected. If Planet Nine exists, it may be much farther away than originally thought.
A total solar eclipse will occur this summer. Everything you need to know
A total solar eclipse will occur on August 12, visible in parts of Greenland, Iceland, Spain and Portugal.
Toy Story 3 Complete Edition announced for PS5, Xbox Series, Switch 2, PS4, Switch, and PC
Publisher Atari and developer Digital Eclipse have announced Toy Story 3 Complete Edition, the modern remaster of the Toy Story 3 video game, for PlayStation 5, Xbox Series, Switch 2, PlayStation 4…
Digital Eclipse Reveals Toy Story Retro Collection And Toy Story 3 Remaster
There are thowbacks in my boots!
Awe-inspiring nature helps people connect to science, study finds
A new study finds that when people engage in participatory science activities that involve awe-inspiring natural phenomena, such as an eclipse, they more closely identify with science and feel a greater ...
Sony Won't Release Its Biggest Single-Player PlayStation Hits On PC Anymore
This is not a PlayStation
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