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zeynep's profile
zeynep tufekci
zeynep tufekci
zeynep tufekci
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@zeynep

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zeynep tufekciVerified account

@zeynep

Complex systems, wicked problems. Society, technology, science and more. @UNC professor. @NYTimes columnist. My newsletter is @insight: http://www.theinsight.org 

floating in a most peculiar way
theinsight.org
Joined August 2009

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    1. Josh Barro‏Verified account @jbarro 29 Oct 2020

      Josh Barro Retweeted JW Mason

      This is why I've been focused on the household-level justification for more relief than the economy-wide level. Household incomes are up this year, employment for more affluent people is basically back to normal, this supports consumption and residential investment.https://twitter.com/JWMason1/status/1321812872167608321 …

      Josh Barro added,

      JW Mason @JWMason1
      Durable goods consumption and residential investment are both up over 10 percent from a year ago. That makes up more or less the whole shortfall from the last two quarters. These are normally very cyclical sectors - in a recession, you'd expect them to be leading the way down.
      Show this thread
      3 replies 5 retweets 71 likes
      Show this thread
    2. Josh Barro‏Verified account @jbarro 29 Oct 2020

      There are a lot of lower-income households where unemployment benefits running out is eating up the savings from the spring and the summer. They need relief. But this isn't a problem you'll see flashing hugely in the GDP data, because these households consume less already.

      4 replies 14 retweets 114 likes
      Show this thread
    3. Josh Barro‏Verified account @jbarro 29 Oct 2020

      I do think people overrate the risk that the economy will be dragged down for years to come due to weak consumer demand. The middle-to-upper parts of the income spectrum are not digging out from a home price crash like last time. Their spending will power the recovery.

      9 replies 5 retweets 81 likes
      Show this thread
    4. Ian Shepherdson‏Verified account @IanShepherdson 29 Oct 2020
      Replying to @jbarro

      Households in aggregate have $1.8T more in savings deposits than before Covid, due to stimulus payments and savings from lower spending on services. Once people can spend again, I'm expecting a gigantic release of pent-up demand.

      8 replies 2 retweets 26 likes
      zeynep tufekci‏Verified account @zeynep 29 Oct 2020
      Replying to @IanShepherdson @jbarro

      Pent up demand after a pandemic? What an idea, right? Pretty amazing how people have forgotten about the Roaring Twenties, similar to the way everybody tried hard to forget about the 1918 pandemic right after it ended.

      8:27 AM - 29 Oct 2020
      • 1 Retweet
      • 3 Likes
      • Jan Adriaenssens Ian Shepherdson Poi is in (and leaving) NYC 22 Jan to 8 Feb erniesfo
      0 replies 1 retweet 3 likes

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