Sunday links: universal hypocrisy

Quote of the Day "Everyone is a hypocrite, but not everyone is cruel." (Tim Murphy) Markets - We only know about structural breaks in retrospect. (humbledollar.com) - Stuart Kirk, "The wisdom of crowds has never lain in the consensus. It lies in the disagreement." (ft.com) Business - Companies are choosing 'signature scents' for their offices. (ft.com) - Bezos' big bet on Trump is paying off. (wsj.com) Regulation - Laws last longer than executive orders. (thebulwark.com) - Policy volatility is the consequence of removing independence from independent agencies. (axios.com) Law and order - Efforts to identify non-citizen voting have been spectacularly unsuccessful. (indianacapitalchronicle.com) - Why is the Supreme Court ramping up security spending? (politico.com) Conflicts of interest - Trump admits his children receive 'insider tips.' (irishstar.com) - Trump, himself, earned more from crypto in 2025 than any other crypto firm. (marginalrevolution.com) - Who made (and lost) money with the TRUMP memecoin. (nytimes.com) - The trading in Trump's brokerage accounts is off the charts. (wsj.com) National security - What happens when you remove experienced military officers, en masse? (justsecurity.org) - National security officials are apparently still using Signal to communicate. (theatlantic.com) Foreign policy - The U.S. is running out of allies that we have not alienated. (danieldrezner.substack.com) - What principles underlie American foreign policy? (thebulwark.com) Autocracy - A look at the world leaders who have become spectacularly rich in office. (giftarticle.ft.com) - Why autocrats lean toward the same aesthetic. (seeingredasia.substack.com) Jobs - How to better measure the effects of AI on employment. (agglomerations.eig.org) - Why big corporate subsidies rarely live up to the hype, jobs-wise. (boondoggle.substack.com) Economy - One year in, a look at how the OBBBA has played out for the budget deficit. (nbcnews.com) - Who pays credit card interchange fees? (nber.org) - The economic schedule for the coming week. (economicweekly.substack.com) Earlier on Abnormal Returns - Top clicks this week on Abnormal Returns. (abnormalreturns.com) - What you missed in our Saturday linkfest. (abnormalreturns.com) - Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com) - Are you a financial advisor? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)