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SubStack NOTES: Louis Johnston: 'Lots of good stuff here. One more for the list: urbanization, especially in the Midwest. \"When Midwestern Cities Were the Richest in the Nation\"... \n\nThe consequences of the 2nd industrial Revolution were mighty indeed... ","body_json":{"type":"doc","attrs":{"schemaVersion":"v1"},"content":[{"type":"paragraph","content":[{"type":"text","text":"Yes: Detroit as the richest metropolitan area in the country in 1950 is, in retrospect, remarkable. But at the time it was completely normal..."}]},{"type":"paragraph","content":[{"type":"text","text":"> Louis Johnston: 'Lots of good stuff here. One more for the list: urbanization, especially in the Midwest. \"When Midwestern Cities Were the Richest in the Nation\"... <"},{"type":"text","text":"https://muse.jhu.edu/pub/17/article/912202","marks":[{"type":"link","attrs":{"href":"https://muse.jhu.edu/pub/17/article/912202"}}]},{"type":"text","text":">"}]},{"type":"paragraph","content":[{"type":"text","text":"The consequences of the 2nd industrial Revolution were mighty indeed... <"},{"type":"text","text":"https://braddelong.substack.com/p/draft-i-get-to-talk-about-the-2nd/","marks":[{"type":"link","attrs":{"href":"https://braddelong.substack.com/p/draft-i-get-to-talk-about-the-2nd/"}}]},{"type":"text","text":">"}]}]},"restacks":0,"reaction_count":1,"attachments":[{"id":"88f9c2ca-b317-4bf3-9625-fb375baed570","type":"post","publication":{"apple_pay_disabled":false,"apex_domain":null,"author_id":16879,"byline_images_enabled":true,"bylines_enabled":true,"chartable_token":null,"community_enabled":true,"copyright":"J. 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SubStack Posts: For exorbitant privilege countries, the rules are different—until they aren’t. Looking back at the fall of Liz Truss and the rise of Bill Clinton’s “fabulous decade”. The looming question for today: When do bond markets start cracking the whip? The leash is short for most economies—but even the strongest currencies can lose their safe-haven status if policymakers forget the risks…:\n\nPROJECT SYNDICATE: Bond Vigilantes! Or Is It \"Bond Vigilantes?'? Normal countries, countries with “exorbitant privilege”, and the threat of the loss of same. 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SubStack NOTES: Louis Johnston: 'Lots of good stuff here. One more for the list: urbanization, especially in the Midwest. \"When Midwestern Cities Were the Richest in the Nation\"... \n\nThe consequences of the 2nd industrial Revolution were mighty indeed... ","body_json":{"type":"doc","attrs":{"schemaVersion":"v1"},"content":[{"type":"paragraph","content":[{"type":"text","text":"Yes: Detroit as the richest metropolitan area in the country in 1950 is, in retrospect, remarkable. But at the time it was completely normal..."}]},{"type":"paragraph","content":[{"type":"text","text":"> Louis Johnston: 'Lots of good stuff here. One more for the list: urbanization, especially in the Midwest. \"When Midwestern Cities Were the Richest in the Nation\"... <"},{"type":"text","text":"https://muse.jhu.edu/pub/17/article/912202","marks":[{"type":"link","attrs":{"href":"https://muse.jhu.edu/pub/17/article/912202"}}]},{"type":"text","text":">"}]},{"type":"paragraph","content":[{"type":"text","text":"The consequences of the 2nd industrial Revolution were mighty indeed... <"},{"type":"text","text":"https://braddelong.substack.com/p/draft-i-get-to-talk-about-the-2nd/","marks":[{"type":"link","attrs":{"href":"https://braddelong.substack.com/p/draft-i-get-to-talk-about-the-2nd/"}}]},{"type":"text","text":">"}]}]},"restacks":0,"reaction_count":1,"attachments":[{"id":"88f9c2ca-b317-4bf3-9625-fb375baed570","type":"post","publication":{"apple_pay_disabled":false,"apex_domain":null,"author_id":16879,"byline_images_enabled":true,"bylines_enabled":true,"chartable_token":null,"community_enabled":true,"copyright":"J. 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SubStack Posts: For exorbitant privilege countries, the rules are different—until they aren’t. Looking back at the fall of Liz Truss and the rise of Bill Clinton’s “fabulous decade”. The looming question for today: When do bond markets start cracking the whip? The leash is short for most economies—but even the strongest currencies can lose their safe-haven status if policymakers forget the risks…:\n\nPROJECT SYNDICATE: Bond Vigilantes! Or Is It \"Bond Vigilantes?'? Normal countries, countries with “exorbitant privilege”, and the threat of the loss of same. 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