giving people a choice between starving and having their family die from disease is bad. government could give us all enough money not to have to make that choice.
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Replying to @AtlKristent @nberlat
They can literally just *make* money. It's not an ore, it's not a substance, it's a wholly fictional invention we all just pretend is real, and they manifested trillions of it to shore up the stock market. They've literally printed trillion-dollar coins.
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The dollar hasn't been backed by anything since 1971 and, as we can see, dollars are now utterly worthless Please send any $100 bills you haven't yet used as toilet paper to my house so I can dispose of them for you
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Replying to @arthur_affect @AtlKristent and
And for that matter, if one goal is increasing exports and domestic manufacturing, a weaker dollar compared to other global currencies is a boon. Even Trump has this one figured out.
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Replying to @mssilverstein @AtlKristent and
Eventually, after the embarrassing leak that he actually asked Mnuchin "Is a strong dollar good or bad" in an email
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Replying to @arthur_affect @AtlKristent and
Yeah, although his impulses have always been for a weaker dollar, I think someone must have pushed him on it to get that out. Because he's been very loudly a proponent of expansionary monetary policy, and his attacks on China as a 'currency manipulator' are on this point.
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Replying to @mssilverstein @arthur_affect and
And, like, it is very rare that I will give Trump credit for ANYTHING. But I think he's actually right on the value of an expansionary monetary policy, and his calls for the Fed to lower interest rates throughout his presidency were actually right.
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Replying to @mssilverstein @AtlKristent and
The really frustrating thing is his approval rating up to now has been propped up by the high stock market and low unemployment rate, which itself has been propped up by the ugly fact that only Republican presidents who say racist shit get a pass to do vulgar Keynesianism
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It's okay to pump money into the economy both via QE and via big tax cuts as long as you make sure the poor and marginalized DON'T disproportionately benefit, only already rich "job creators"
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Replying to @arthur_affect @AtlKristent and
Yeah, pretty much. And even the actual benefits probably don't matter as much as convincing people that you don't INTEND the benefits to go to anyone undeserving. But as long as he's president, I'm glad he's not trying to unplug the money printer.
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Replying to @mssilverstein @arthur_affect and
I'd also like to stop praising him as soon as possible, but I can't knock him here.
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