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ZLB sets up a policy trilemma: Low inflation, low fiscal deficit, low unemployment - To get any 2 of these, you must give up 1 of the others
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Robert Pelgrift Retweeted
I will be voting NO on the Rules package with
#PayGo. It is terrible economics. The austerians were wrong about the Great Recession and Great Depression. At some point, politicians need to learn from mistakes and read economic history.@paulkrugman@StephanieKelton@RBReichhttps://twitter.com/GunnelsWarren/status/1080318713331617792 …Thanks. Twitter will use this info to make your timeline better. UndoUndo -
Robert Pelgrift Retweeted
Rep. Liz Cheney, daughter of Dick Cheney, yesterday attacked "the fraud of socialism." Really? I wasn't aware that it was "socialism" that lied about weapons of mass destruction in Iraq, and got us into a horrific war that we should never have started.
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Robert Pelgrift Retweeted
"Listen you mother fuckers—we're gonna tax you 25%,” Trump said to China in this video I found. Spare me this fake controversy around Rep Rashida Tlaib.pic.twitter.com/cHL175cHoK
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Robert Pelgrift Retweeted
What we're seeing here is both sexism and the bias of the news media, which isn't so much partisan as tilted toward politicians who pretend to care about centrist pieties even when they actually treat them with contempt 6/
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Robert Pelgrift Retweeted
Meanwhile, press reports about Pelosi's unlikability were legion -- even though she was viewed no less favorably than most speakers 5/https://www.washingtonpost.com/news/politics/wp/2017/06/23/nancy-pelosi-isnt-unusually-unpopular-for-a-congressional-leader/?utm_term=.912961c6eeee …
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Robert Pelgrift Retweeted
Strange to say, however, you never ever read stories about how unlikable Ryan was. It was all about the wonderful substance of his ideas -- which were, in fact, obviously fraudulent. 4/
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Robert Pelgrift Retweeted
What I haven't talked about, I think, is that Ryan-adulation was always a within-the-Beltway thing -- that is, it didn't reflect any kind of broad public perception. On the contrary, ordinary voters always despised him 3/ https://www.politico.com/story/2011/06/poll-ryan-3rd-most-disliked-goper-057617 …pic.twitter.com/X4qXYlwOxp
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Robert Pelgrift Retweeted
Whatever happened to the days when Ryan was a media darling, receiving constant praise for his seriousness and honesty? I've talked a lot about how his phoniness was obvious from the beginning 2/https://www.nytimes.com/2010/08/06/opinion/06krugman.html …
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Robert Pelgrift Retweeted
Today the best House Speaker of modern times reclaims the gavel from the worst. Paul Ryan leaves office with 12%, that's right, 12% favorability -- and 75% unfavorable 1/pic.twitter.com/FZuIlejGNM
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Robert Pelgrift Retweeted
Lots of things to say about Elizabeth Warren, but top of my list is the Consumer Financial Protection Bureau -- a truly original policy idea that was incredibly successful until Trump sabotaged it. She's someone who both has deep ideas and gets stuff done. Kind of important?
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Joe Donnelly: "But when you talk 'Medicare-for-all' ...you start losing the people in my state," Donnelly added. "When we start talking about, 'Hey, we're going to work together with the insurance companies to lower premiums,' that's what connects."https://cnn.it/2EPwp8F
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Robert Pelgrift Retweeted
One last point: around 1/3 of the surge in after-tax profits actually goes to foreigners. That's probably enough to ensure that the tax cut actually made America poorer. Great work all around. 6/
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Robert Pelgrift Retweeted
And the public, which never liked the tax cut, seems to be souring rapidly on the economic outlook -- which can be a self-fulfilling prophecy in the short run 5/ https://www.civiqs.com/results/economy_us_direction?annotations=true&net=true&uncertainty=true …pic.twitter.com/aXcgkFEODT
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Robert Pelgrift Retweeted
We probably got a small Keynesian boost to growth, although even that's not for sure -- fluctuations happen all the time. And it's fading fast, according to the various "nowcast" of 4th quarter growth 4/pic.twitter.com/inik4WdFVy
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Robert Pelgrift Retweeted
The reality is less than 1/10th that much, and even that probably had more to do with oil prices than the tax cut. Here's the investment percentage of GDP 3/pic.twitter.com/7Qideq5ayh
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Robert Pelgrift Retweeted
To achieve the 4% gain in long-run output the TCJA's promoters promised, we'd need to raise the capital stock by around 40% of GDP -- and to get there in a decade, the investment share in GDP would have to rise by 4 points 2/
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Robert Pelgrift Retweeted
This is a good discussion, but maybe we need to say more about the disappointment, which is mainly not about current wages but about investment 1/https://www.nytimes.com/2018/12/27/us/politics/trump-tax-cuts-jobs-act.html?action=click&module=Top%20Stories&pgtype=Homepage …
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Robert Pelgrift Retweeted
Replay: dubbed “The Astoria Borealis,” this light show over NYC last night owed to a) the Con Ed Queens transformer blowin up real good and b) the low-ceiling overcast and c) many Shubs and Zuuls knew what it was to be roasted in the depths of the Sloar that day, I can tell youpic.twitter.com/2dQ4oEbMoI
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