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Who Knew? Revoking Long-Established Rights (This Time in France) Proves Unpopular

David Dayen

@ddayen

Turns out that when you try to tell people who worked their entire lives expecting retirement at one certain date that they have to wait until later, they get angry! Republicans, meet France:

prospect.org

Today on TAP: Macron’s bid to raise retirement age yields huge backlash. Have our own Republicans even noticed?

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Matt Stoller

@matthewstoller

13h

What asshole billionaires say on CNBC every morning is just amazing. Here real estate tycoon Barry Sternlicht complaining about Biden's potential order on tenant protections, immediately after he complains about Biden's criticism of Chevron handing $75B to execs and shareholders.

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Inflation surprise: Wage gains eclipse price spikes

Victoria Guida

@vtg2

Jan 25

The war on inflation may be far from over, but the economy has reached a key, little-noticed milestone: Workers’ wage gains are finally outpacing the rise in consumer prices.

politico.com

If the trend continues, it could be a boost for President Joe Biden as he gears up for a tough reelection campaign.

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has been running campaigns to break up and Ticketmaster and Google/Facebook, which seemed radical a few years ago. Today most Senators on the Judiciary committee ere like 'break up Ticketmaster!' and the Antitrust Division launched a suit to break up Google.

More Perfect Union

@MorePerfectUS

Jan 24

BREAKING: Bernie Sanders plans to hold the first Senate hearing on Starbucks' aggressive anti-union campaign and says he may call Starbucks CEO Howard Schultz to testify, per Bloomberg.

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Economists Say the Fed Is Making Another Inflation Mistake. Here’s Why.

Fab new video from

on the growing chorus of economic experts warning that the Fed is making a huge mistake. Must watch 👇🏽

wsj.com

Economists, investors and CEOs say the Federal Reserve is needlessly driving the country into what could be a painful recession. WSJ’s Dion Rabouin explains wha

Cannot wait to see

use his tax hammer to pound the Republicans' plans to implement a 30% sales tax on hardworking Americans while greasing the skids for wealthy tax cheats. Let's go.

Jan 24

Looks like the Blue Dogs are on their last leg. It's a new day.

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Burgess Everett

@burgessev

Jan 24

7 of 15 Blue Dogs expected to depart group after heated disagreement over name change

politico.com/news/2023/01/2 @allymutnick @sarahnferris

Jhumpa Bhattacharya

@jhumpa_b

Jan 23

The debt ceiling is a made up tool implemented in the US (1 of 2 countries that have it) to justify cuts to social service programs that save lives. It's rooted in anti-blackness & ensures a racist and sexist economic structure remains where Black & brown people & women lose.

Wall Street’s Big Bet on Rewiring America

David Dayen

@ddayen

Jan 23

1/ Our new print issue is all about implementing the Biden agenda, the moment where too many people look away but which decides whether policy is a success or a failure. And we begin with a dynamite piece from

@leee_harris

prospect.org

Ithaca has put its Green New Deal in the hands of a green private equity fund, a private foundation, and a Goldman Sachs–backed software company.

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Kurt Andersen

@KBAndersen

Jan 22

Since 2001 the federal debt has increased from $6 trillion to $31 trillion. More than half of that $25 trillion increase resulted from launching and waging long wars in Afghanistan and Iraq after 9/11, and from repeatedly cutting taxes for two decades.

How the U.S. Government Amassed $31 Trillion in Debt

Two decades of tax cuts, recession responses and bipartisan spending fueled more borrowing — contributing $25 trillion to the total and setting the stage for another federal showdown.

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Jan 22

Must read new op-ed from

@senwarren

@GlobeOpinion

. "Serious conversations about reducing the national debt should start here: Repeal the 2017 Trump tax giveaways to the wealthy. Let’s close that door before the next $1 trillion slips away." bostonglobe.com/2023/01/22/opi

Jan 20

Republicans going full nanny state.

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Sami Scheetz

@SamiScheetz

Jan 20

The GOP just proposed new restrictions on the types of food eligible for purchase with SNAP benefits, putting even more pressure on families with children. In addition, they would aim to keep families with more than one vehicle from receiving help.

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White House prepares new tenant protections, alarming housing industry

Tara Raghuveer

@taraghuveer

Jan 20

Profiteers are (predictably) fear-mongering against rent regulation. Surrendering to them will be a disaster. Rent is the most significant economic issue this White House has the opportunity to tackle. They should take it. More from

@KatyODonnell_

politico.com

Democrats want the administration to enact new restrictions on rent hikes and punish landlords they accuse of price-gouging.

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There is no such thing as a mild recession or a nice light recession. “There is no way to paint rainbows and butterflies on things like this, because suffering is sometimes just suffering.”

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Kyla Scanlon

@kylascan

Full article here: kyla.substack.com/p/what-even-is

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Mike Pierce

@millennial_debt

Student Borrower Protection Center

We should be clear about what happened here:

@BPC_Bipartisan

is pushing right-wing propaganda and

@politico

is running it uncritically. Republican brinksmanship on the debt ceiling is a boondoggle-- no amount of bad math on student debt can shift the blame when this blows up.

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@theSBPC

Let’s get the facts straight. The student loan payment pause delivers $5 BILLION in relief each month. Big for working families, but for @USTreasury it’s a drop in the bucket. Each month borrowers pay would buy just ~36 more hours~ before a debt limit breach. We did the math! twitter.com/Zachary/status…

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Hal Singer

@HalSinger

Just as a large price hike by a dominant seller in an industry can "prime" its smaller rivals to follow suit, so too can a massive layoff by a dominant employer in an industry. This coordination makes it easier for employers to drive a harder bargain with the remaining workforce.

A price-price spiral. Sure sounds familiar.

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David Stein

@DavidpStein

Brainard: "Retail markups in a number of sectors have seen material increases in what could be described as a price–price spiral, whereby final prices have risen by more than the increases in input prices."

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Kimberly Clausing

@KClausing

Global Minimum Tax Could Bring Governments Higher Revenues Than Thought

Revenue is one good reason to move forward on the international tax agreement, and OECD revisions (due to better data and rising corporate profits) show that there is a lot of revenue at stake.

wsj.com

Governments could get a bigger windfall than previously estimated if they implement a planned overhaul of international tax rules, according to the Organization for Economic Cooperation and Develop...

Luke Herrine

@LDHerrine

Eight Reactions to the FTC’s Proposed Ban on Non-competes

Very helpful collection of reactions to the

@FTC

's non-compete NPRM: lpeproject.org/blog/eight-rea To briefly respond to

@snaidunl

's intervention (which follows on a previous Twitter convo):

lpeproject.org

Eight friends of the blog offer their initial reactions to the FTC’s proposed rule to ban non-compete agreements.

Kyla Scanlon

@kylascan

😀

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More Perfect Union

@MorePerfectUS

At the World Economic Forum in Davos, surrounded by the super rich, Kyrsten Sinema and Joe Manchin agree that they won’t end the filibuster. Then they high-five. Both have used their position to hurt working people, and the planet, and make their rich friends richer.

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Major bummer that United health didn’t get the tripledemic earnings bump they were hoping for in q4.

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tyson brody

@tysonbrody

CEO of united health care says the triple-demic was the dog that didn't bark

Breaking: my

investigation w/

reveals The Natl Restaurant Association’s lucrative scheme: $$ fees unwitting workers pay for ‘food safety certification’ are funneled to cover the costs of the groups’ Goliath battle against higher wages

How Restaurant Workers Help Pay for Lobbying to Keep Their Wages Low

The National Restaurant Association uses mandatory $15 food-safety classes to turn waiters and cooks into unwitting funders of its battle against minimum wage increases.

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The top 1% captured nearly twice as much new wealth as the rest of the world over last two years |...

Nabil Ahmed

@NabsIMA

Jan 16

The Davos festival of wealth is back. Buckle up. New

@Oxfam

inequality data out now. Headline: our decade's began with the 1% capturing *twice* as much new wealth as the 99% put together. A $26 trillion grab. Welcome to the new roaring 20's folks. A 🧵

cnn.com

The world's wealthiest residents have been getting far richer, far faster than everyone else over the past two years.

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Josh Miller-Lewis

@jmillerlewis

Jan 13

U.S. Chamber of Commerce President: “Jobs aren’t the problem. Workers are the problem.” Tells you all you need to know about how business leaders view working people in America.

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From

More Perfect Union

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OECD Business and Finance

Jan 13

Very excited to be heading to the

@OECD

in Paris next month to talk about competition and inflation! New research and conversations about pricing power are such an important development in our understanding of inflation. Thrilled to continue advancing this body of work.

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@OECD_BizFin

Jan 13

Join us on 23 February for the 5th 𝗢𝗘𝗖𝗗 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝗼𝗻 𝗢𝗽𝗲𝗻 𝗗𝗮𝘆 to hear all about:

global competition enforcement trends

Interim measures in antitrust investigations

#competition & #inflation

Open to all!

bit.ly/comp-od-23

American Economic Liberties Project

@econliberties

Skanda Amarnath ( Neoliberal Sellout )

"Noncompetes are one of those issues that sounds like its in the weeds, but it actually can shape and distort the labor market, and what you make." Great segment from

@TheBeatWithAri

on how

@FTC

's efforts could give workers their mobility, leverage, and freedom back.👇📺

We can have low prices and low unemployment. We never had to choose.

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@IrvingSwisher

If inflation can fall without pursuing higher unemployment, then aiming for higher unemployment is an especially ugly proposition. The opportunity cost is immense

Groundwork Collaborative

@Groundwork

The Fed right now:

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Mike Mitchell

@MikeDMitchell2

In football, you generally stop running when you get to the end zone. The Fed should follow suit and stop rate hikes. twitter.com/DeanBaker13/st…

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David Stein

@DavidpStein

"There is no period in which the Fed pursued a deflationary policy in which low-income people won. The median income of Black families falls, and it takes years to come back. Child poverty spikes.” -

@WSpriggs

The Fed May Finally Be Winning the War on Inflation. But at What Cost?

There’s a good chance that the Fed could push the economy into recession. The pain will not be shared equally.

Jeet Heer

@HeerJeet

Official

It's amazing how publications like the New York Times and Washington Post will quote Summers like a sage without questioning him on this stuff (or fact his personal & financial connection with Jeffrey Epstein persisted long after arrest).

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Revolving Door Project

@revolvingdoorDC

NEW: Larry Summers advised the crypto conglomerate DCG for six years. Now its trading desk has been publicly accused of fraud, and is under DOJ and SEC investigation. Summers quietly left DCG a few months ago. Is anyone going to ask him about this? therevolvingdoorproject.org/larry-summers-

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Revolving Door Project

@revolvingdoorDC

therevolvingdoorproject.org

Larry Summers Advised A Possible Crypto Fraudster. Is Anyone Going To Ask Him About It? | Revolving...

Considering how much of the financial press eagerly solicits Summers’ take on every imaginable economics topic, it’s bizarre that no reporters have gotten his thoughts about his involvement in this...

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American Economic Liberties Project

@econliberties

Jan 10

Think you’re already paying too much for your groceries? Unfortunately, prices will only continue to rise with consolidation in the supermarket industry -- like the Kroger-Albertsons merger. Here’s why enforcers should block it.👇🧵

Lina Khan

@linakhanFTC

Jan 9

Noncompetes undermine economic liberty. Evidence suggests they also suppress wages—even for people who aren't bound by a noncompete—and hurt innovation. In

@nytopinion

I explain why

@FTC

has proposed banning noncompetes from employment contracts.

Opinion | Lina Khan: Noncompetes Depress Wages and Kill Innovation

The chairwoman of the F.T.C. argues in favor of a proposal to eliminate noncompete clauses from employee contracts.

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Jan 9

Don't miss this new blog post from

@employamerica

. Powell isn't hiding the ball--by any historical metric, the Fed driving toward a recession.

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Groundwork Collaborative

@Groundwork

Jan 9

"The Fed is aiming for a recessionary labor market" with a goal to increase unemployment by more than 1% (!) in a single year Every time that's happened since WWII, we've seen a recession & unemployment continue to rise More analysis from @employamerica: bit.ly/3Qz6Lrt