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Noahpinion's profile
Noah Smith
Noah Smith
Noah Smith
Verified account
@Noahpinion

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Noah SmithVerified account

@Noahpinion

Bloomberg Opinion writer. Elected "top neoliberal shill" of 2018. Occasionally posts anime gifs.

San Francisco, CA
bloomberg.com/view/contribut…
Joined April 2011

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    Noah Smith‏Verified account @Noahpinion Oct 25

    Broke: Arguing over whether America is richer than Europe Woke: Arguing over whether a 2 percent inflation target is too precise

    8:19 PM - 25 Oct 2018
    • 7 Retweets
    • 83 Likes
    • Peter Butler Memories... of Now Name cannot be blank Michal Rozworski Jonno🌐 🇺🇸Tweety Boosevelt🇺🇸 (((Curt Larock))) Joshua Taehyun Kim John Peters
    11 replies 7 retweets 83 likes
      1. New conversation
      2. rehn-meidner supermodel‏ @peterjgowan Oct 25
        Replying to @Noahpinion

        did you know that the Fraser Institute report that the CEA uses defines each point of inflation as an equal measure of unfreedom, meaning 0% inflation is more free than 2%? see pp. 217-18 (also seems like deflation could get you a >10/10 freedom score) https://www.fraserinstitute.org/sites/default/files/economic-freedom-of-the-world-2018.pdf …

        2 replies 1 retweet 8 likes
      3. Noah Smith‏Verified account @Noahpinion Oct 25
        Replying to @peterjgowan

        Hahahaha

        1 reply 0 retweets 1 like
      4. rehn-meidner supermodel‏ @peterjgowan Oct 25
        Replying to @Noahpinion

        economic freedom reports all fuckin whip

        0 replies 0 retweets 4 likes
      5. End of conversation
      1. New conversation
      2. Lyman Expand the House of Representatives Stone‏ @lymanstoneky Oct 26
        Replying to @Noahpinion

        WRONG

        1 reply 0 retweets 2 likes
      3. 1RAOKADAY‏ @1RAOKADAY Oct 26
        Replying to @lymanstoneky @Noahpinion

        I mean I get it. But doesn't arguing that a 2 percent inflation target is too precise undermine the very purpose of targeting?

        1 reply 0 retweets 0 likes
      4. ThermiGOREian Reaction‏ @wophugus Oct 26
        Replying to @1RAOKADAY @lymanstoneky @Noahpinion

        A precise ngdp target is a flexible inflation target!

        1 reply 0 retweets 0 likes
      5. 1RAOKADAY‏ @1RAOKADAY Oct 26
        Replying to @wophugus @lymanstoneky @Noahpinion

        That makes sense. And I'm definitely on board with a NGDP target. I suppose I just have semantic issues with that actually being an argument about the precision of an inflation target.

        0 replies 0 retweets 1 like
      6. End of conversation
      1. ...‏ @usvsthisworld Oct 25
        Replying to @Noahpinion

        Should be more like 3 to 5.

        0 replies 0 retweets 1 like
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      1. The Natural‏ @jacobstevens Oct 25
        Replying to @Noahpinion

        Use fermi estimation the right target is bound to be in there somewhere

        0 replies 0 retweets 1 like
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      1. P.Cons‏ @coonsman Oct 25
        Replying to @Noahpinion

        *seriously believing the Fed when they say they only have "2" mandates

        0 replies 0 retweets 1 like
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      1. Dontreachyngbld‏ @Dontreachyngbld Oct 25
        Replying to @Noahpinion

        Or too low.....

        0 replies 0 retweets 1 like
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      1. New conversation
      2. Eric Richardson‏ @lbyron Oct 26
        Replying to @Noahpinion

        Uhmmm... aren’t the per capita GDP of US poorest states greater than most nations in Europe? The first question is answered.

        1 reply 0 retweets 0 likes
      3. AlienJazzCat‏ @alienjazzcat Oct 26
        Replying to @lbyron @Noahpinion

        Mississippi around $31K, Idaho $35K, Alabama up at $37K Compare to? https://www.cia.gov/library/publications/the-world-factbook/rankorder/2004rank.html …

        1 reply 0 retweets 0 likes
      4. Eric Richardson‏ @lbyron Oct 26
        Replying to @alienjazzcat @Noahpinion

        Compared to http://statisticstimes.com/economy/european-countries-by-gdp-per-capita.php …

        1 reply 0 retweets 0 likes
      5. AlienJazzCat‏ @alienjazzcat Oct 26
        Replying to @lbyron @Noahpinion

        Nice.. I counted ~26 countries in the other list, higher than MS, but your list shows fewer.. You may be right that its most, but its close Much of the lower echelon come out of the Eastern Bloc, too.. which figures. Crippled for decades. W. Europe obviously much better off

        2 replies 0 retweets 1 like
      6. Eric Richardson‏ @lbyron Oct 26
        Replying to @alienjazzcat @Noahpinion

        As for western Europe being obviously much better off, the dollars are better but taxes, after taxes and PPP even things off... it’s not easy making comparisons. All in all, there are parts of Albania in Moldova I’d rather live in then some Louisiana purchase

        1 reply 0 retweets 1 like
      7. Eric Richardson‏ @lbyron Oct 26
        Replying to @lbyron @alienjazzcat @Noahpinion

        And Moldova Parishes

        0 replies 0 retweets 0 likes
      8. End of conversation
      1. Jackson Strong‏ @Jackson_Strong_ Oct 26
        Replying to @Noahpinion

        Woke: The fed shouldn't be manipulating interest rates at all

        0 replies 0 retweets 0 likes
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      1. Eric Richardson‏ @lbyron Oct 25
        Replying to @Noahpinion

        pic.twitter.com/tAUR462lVi

        0 replies 0 retweets 0 likes
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      1. Harald‏ @equalitus Oct 25
        Replying to @Noahpinion

        Kinda agree but only conditionally because time as in hours worked/year is also a money price. And by median income vs median income [including hours/year] Americans are hardly richer than the median European in the EU area.

        0 replies 0 retweets 0 likes
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