Bitcoin & the US fiscal reckoning 🔗

Bitcoin and the U.S. Fiscal Reckoning - National Affairs Until and unless Congress reduces the trajectory of the federal debt, U.S. monetary policy has entered a vicious cycle from which there is no obvious escape. The rising debt requires the Treasury Department to issue an ever-greater quantity of Treasury bonds, but market demand for these bonds cannot keep up with their increasing supply. In an effort to avoid a spike in interest rates, the Fed will need to print new U.

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A first post in my shameless theft of Robert‘s Last/Next notebook category. I’ll enjoy looking back on this in a few years. 📓


Daniel A. Kaufman defends “The Good Old Liberal Consensus” against its foes on both right and left. H/t to my friend Bharat. 🔗


Currently reading: The Future of Money: How the Digital Revolution is Transforming Currencies and Finance by Eswar S. Prasad 📚


"Homeward Bound (for Ana Grace)" 🎵

The title track from Johnathan Blake’s upcoming album Homeward Bound is a beautiful tear-jerker. “Homeward Bound (for Ana Grace)” was written in memory of Ana Grace Marquez-Greene, the daughter of saxophonist Jimmy Greene & flutist Nelba Marquez-Greene, who died at Sandy Hook, just six years old. 🎵🔗


This is a wonderful appreciation of Norm MacDonald—the best I’ve read so far. 🔗


“Destiny waits in the hands of God, not in the hands of statesmen / Who do, some well, some ill, planning and guessing, / Having their aims which turn in their hands in the pattern of time.”

~T.S. Eliot, Murder in the Cathedral


MNUFC old-timer Brent Kallman provides the context behind the “Nicest Rivalry in Sports” moniker. Spoiler alert: it’s not so nice. ⚽️


Another beautiful sunrise on Rish Lake🏡


Current listening: the Danish String Quartet’s Prism III 🎶