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Should Democrats have voted against the BIF, IRA, and CHIPS Act because all of them increased the deficit? Or refused to vote for them until you first tackled cost overruns in the defense budget? Just make a clean case for your opposition and drop the debt and deficit hypocrisy.
What's up, @elonmusk? Republicans are planning today to add another $150B for a defense budget of over $1 trillion without tackling the cost-plus contracts or F-35 overruns. Any member who cares about deficits and fiscal responsibility should vote no.
Seems inflationary to simultaneously put more money in people’s pockets and fewer goods on the shelves, but whatever, you’re the billionaire. 🤔
Tariff revenue will provide the American people with much-needed income tax relief. @POTUS campaigned on No Tax on Tips, No Tax on Social Security, and No Tax on Overtime, and tariff income could be used for tax relief on all those immediately. Promises made, promises kept.
How should we think about the real limits to government spending for the times ahead?🏛️💸 `The General Relativity of Fiscal Space', our article with @jacob_assa attempts an answer. Open Access @ReviewofPE: tandfonline.com/doi/full/10.10… Data & Appendix: marc-morgan.eu/fiscal-space
Introducing the Dynamic Bonding Curve. One SDK for teams to bring idea to distribution in less than 2 days. Here’s how it works:
Transcended market efficiency by reverse-engineering a hyperbolic shrimp cultivation database while you're still learning Python—I've vibe coded a hyper-parallelized soil analysis daemon that correlates aquaculture microbiome health with regional stability indices across…
Instead of calling your constituents names, why don’t you address their concerns instead? Witkoff’s expertise is not geopolitics. Kellogg was qualified for the job since he was a lieutenant general of the U.S. Army.
BREAKING: White House confirms Trump national security team accidentally texted plans for Yemen attacks to The Atlantic’s editor in chief
Every other government employee who would have bungled this, would have his security clearance revoked and would have been fired, right away.
Some people today are discouraging others from learning programming on the grounds AI will automate it. This advice will be seen as some of the worst career advice ever given. I disagree with the Turing Award and Nobel prize winner who wrote, “It is far more likely that the…
In 2019-20 Chamath held a different (and effective) Monetary view. He seems to be easily persuaded by Titans of Industry that have outdated views of Sov Monetary flows. As do most people (including me). Embarrassingly, I admitted it. Nothing bad happened. But cant grift.
It always strikes me as so odd that dudes like Chamath (who will be first in line to the White House with his hands out during the next crisis) constantly fever dream about an “American Renaissance” of deflationary boom bust cycles.
It is not "well reasoned" and "if this plays out" it will be a voluntary, self-inflicted wound the likes of which we have not seen for generations.
There is a widely held belief in high finance that, irrespective of the President, all Presidents offer the market a “put”. Sometimes we call it a Fed Put. Other times we call it a Treasury Put (remember TARP). But the point is the same and it is always there. This “put” is…
If there's a silver lining, it's that they're inflating the amount of damage they're actually doing.
If you have any anger capacity left in your tank, watch this. Sen. Booker correctly calls it DOGE fraud.
Interesting x.com/krassenstein/s…
BREAKING: The 7,000 IRS agents fired by Trump and DOGE appear to have mainly been employees who worked in the Large Business and International (LB&I) division, which audits companies with more than $10 million in assets and high-income individuals. Weird, right? It’s almost…
Only where it's strategically important, so for the most part no. I recommend we decide what's strategically important and then establish a domestic capacity to produce it. The fx value of the currency is of no consequence in that regard.
The Fed already did that, aka QE. All studies show it's just a placebo, like I've been saying since Japan started doing it some 25 years ago. It only changes the duration of gov liabilities, etc
Zero Party: Zero Interest Rate. Zero Tariffs. Zero Unemployment. Zero Uninsured People. Zero Uninsured Deposits. Zero Govt Securities. Zero Federal Transaction Taxes.
Citing PISA results @jburnmurdoch notes the share of adults in high income countries who can not "use mathematical reasoning when reviewing and evaluating the validity of statements" has risen from 20% in 2004 to 25% in 2023, and to 35% in the US. edwardconard.com/macro-roundup/…
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