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HeerJeet's profile
Jeet Heer
Jeet Heer
Jeet Heer
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@HeerJeet

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Jeet HeerVerified account

@HeerJeet

1. Writer, The Nation https://www.thenation.com/authors/jeet-heer/ … 2. email: jeetheer1967 at gmail dot com 3. Twitter essayist 4. Drawn by Joe Ollmann

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Joined June 2012

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    1. Paul Krugman‏Verified account @paulkrugman 5 Feb 2021

      Lots of people are dunking on Larry Summers today, and in my view rightly so; this piece by Jordan Weissman seems especially on point. Yes, a rescue package this size could lead to overheating, but how bad is that? 1/https://slate.com/business/2021/02/larry-summers-biden-relief-plan-washington-post-op-ed.html …

      89 replies 373 retweets 1,392 likes
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    2. Paul Krugman‏Verified account @paulkrugman 5 Feb 2021

      I mean, suppose that the Fed ends up hiking rates because unemployment is 3.2% and the economy is growing at 8%. Would that be so bad? But while I don't think Summers is being helpful, the fact that he is weighing in like this says some good things about Democrats 2/

      11 replies 66 retweets 440 likes
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    3. Paul Krugman‏Verified account @paulkrugman 5 Feb 2021

      As Kevin Drum pointed out long ago, there's a "hack gap" between the parties: even Republicans who should know better fall in line to back the party line, as economists did for the 2017 tax cut. Democrats, not so much 3/

      10 replies 62 retweets 397 likes
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    4. Paul Krugman‏Verified account @paulkrugman 5 Feb 2021

      If the Summers critique actually threatened to derail economic rescue, I'd be upset. But the Biden people are ready with counterarguments, and have their political ducks in a row. So what we're actually seeing is that determined policy can survive serious debate 4/

      10 replies 134 retweets 835 likes
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    5. Paul Krugman‏Verified account @paulkrugman 5 Feb 2021

      This is a strength. Policies are better because they emerge from informed discussion; the political force behind these policies won't be dissipated the first time someone points out the emperor is naked 5/

      10 replies 75 retweets 574 likes
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    6. Paul Krugman‏Verified account @paulkrugman 5 Feb 2021

      The point is that this is an economic team with actual thought behind its policies, able to deal with good-faith critiques even when, as I think Summers's is, they're somewhat wrong-headed. We're not in Trumpland anymore 6/

      21 replies 95 retweets 647 likes
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      Jeet Heer‏Verified account @HeerJeet 5 Feb 2021
      Replying to @paulkrugman

      This is all very reasonable but I think a big reason people are mad at Summers is because they aren't sure whether he is being good-faith here (given contradictions with his earlier stances on secular stagnation) or whether this is performance of out-office official.

      11:12 AM - 5 Feb 2021
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      4 replies 3 retweets 20 likes
        1. Dr. Amanda J. Phalin‏ @Dr_Phalin 5 Feb 2021
          Replying to @HeerJeet @paulkrugman

          It's that last one there. No one should be listening to him, they aren't for the most part, and he's mad.

          0 replies 0 retweets 1 like
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        1. Measure for Measure‏ @MeasureMeasure 5 Feb 2021
          Replying to @HeerJeet @paulkrugman

          So Summers will be vindicated if headline inflation tops 2.5% within the next 3 years then. Ok, ok: that's what bad faith looks like. My point is that Summers reasonably IDs the risk of over-heating, while I think overheating is a feature & not a bug. Reasonably different views.

          1 reply 0 retweets 1 like
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        1. Jarron Jackson‏ @JarronJackson4 11 Dec 2021
          Replying to @HeerJeet @paulkrugman

          Hmmmm.. I wonder who was right and who was wrong 10 months later?

          0 replies 0 retweets 0 likes
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