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washparkhorn

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Everything posted by washparkhorn

  1. Transitory? Everything is transitory if you.give it enough time.
  2. As a Texpatriate, Beto gets my support. Texas has descended into a dystopian reality that would be comical if real people were not in the line of fire. It is due for a correction before it is fully regarded as a joke. If I could ask one thing of Beto is that he stand with two feet on the ground when making a point. He presents as shifty when he wildly animates his words. The words get lost when the mind attempts to translate the gestures. It is a small criticism and certainly not a substantive complaint. He is miles better than the alternative.
  3. So - Inflation was transitory, or, is this technical bull market transitory?
  4. Trumpers are going after the Magistrate who signed the search warrant. An example: The undoctored photo:
  5. Not that I disagree (because I agree with you), but this is an example of Bulverism. PPP was trickle down. Art Laffer continues to speak at Chamber of Commerce meetings. Trump’s tax cuts for the wealthy were trickle down and remain on the books. Trickle down economics a big lie, fake news, bullshit. The data is clear. Anyone subscribing to supply-side economics from Reagan and Thatcher to Larry Kudlow and Trump are not heroes. They are/were bullshit artists making money for their rich donors.
  6. Can we all agree Trickle Down (tax cuts for the rich) is a bullshit theory? https://academic.oup.com/ser/article/20/2/539/6500315?login=false Abstract The last 50 years has seen a dramatic decline in taxes on the rich across the advanced democracies. There is still fervent debate in both political and academic circles, however, about the economic consequences of this sweeping change in tax policy. This article contributes to this debate by utilizing a newly constructed indicator of taxes on the rich to identify all instances of major tax reductions on the rich in 18 Organisation for Economic Co-operation and Development (OECD) countries between 1965 and 2015. We then estimate the average effects of these major tax reforms on key macroeconomic aggregates. We find tax cuts for the rich lead to higher income inequality in both the short- and medium-term. In contrast, such reforms do not have any significant effect on economic growth or unemployment. Our results therefore provide strong evidence against the influential political–economic idea that tax cuts for the rich ‘trickle down’ to boost the wider economy.
  7. Signs of demand destruction, but still inflating faster than wage growth. Consumers using more credit at elevating interest rates. Fed selloff of MBS well under their self-imposed caps (thanks @bernorange).
  8. Biden and the Generals preferred the Speaker of the House not go. She went anyway. It is what it is. We deal with the consequences from this unforced error.
  9. Revive the intermediate nuclear missile ban; Remove the nuke missiles from Poland with Russia removing same intermediate range missiles away from NATO nations; Putin-Biden Summit and agree Ukraine shall be neutral; Put Nord Stream 2 into operation. War is failure. I come to this view as a member of a career military family. Think of those in harm’a way, first and always.
  10. Bad news is good news for Fed to pivot? More importantly, evidence of demand destruction by design through rate hikes.
  11. Tankie - ultra leftist slur for Stalinists. (Tanks rolling into Czechslovakia).
  12. Chomsky on Russian invasion of Ukraine: Russia’s invasion of Ukraine took much of the world by surprise. It is an unprovoked and unjustified attack that will go down in history as one of the major war crimes of the 21st century, argues Noam Chomsky in the exclusive interview for Truthout that follows. Political considerations, such as those cited by Russian President Vladimir Putin, cannot be used as arguments to justify the launching of an invasion against a sovereign nation. In the face of this horrific invasion, though, the U.S. must choose urgent diplomacy over military escalation, as the latter could constitute a “death warrant for the species, with no victors,” Chomsky says. https://truthout.org/articles/noam-chomsky-us-military-escalation-against-russia-would-have-no-victors/
  13. Animal spirits and inflation. Below is good news that is bad news for those hoping for a quick Fed pivot. The Fed shows no sign of slowing QT or slowing rate hikes. The Fed has to tighten in order to have room to ease if there is a hard landing.
  14. While working as a host for RT, Hedges publicly condemned Russia’s invasion of Ukraine. “. . . This provocation, which includes establishing a NATO missile base 100 miles from Russia's border, was foolish and highly irresponsible. It never made geopolitical sense. This does not, however, excuse the invasion of Ukraine. Yes, the Russians were baited. But they reacted by pulling the trigger. This is a crime. Their crime. Let us pray for a ceasefire. Let us work for a return to diplomacy and sanity, a moratorium on arms shipments to Ukraine and the withdrawal of Russian troops from the country. Let us hope for an end to war before we stumble into a nuclear holocaust that devours us all.” https://web.archive.org/web/20220512145234/https://www.salon.com/2022/03/01/is-the-greatest-evil-was-baited-into-this--but-thats-no-excuse/
  15. The Fed is utilizing demand destruction by design to combat inflation. MMT theory would focus on the source of the inflation (cost-push/supply) and invest in additional supply to meet demand. The Fed does not have that power.
  16. The centrist Dems’ Playbook is stale and wheezy. But I hear it pays well 1. start out hoping for resistance, regardless of popular support for an idea 2. compromise before making the ask 3. encounter the same resistance one would have encountered with a big ask 4. give away everything 5. shake hands with Republicans and blame progressives 6. pat yourselves on the back for your talent in negotiating, your decorum, reasonableness and adherence to the precious norms 7. promise your constituents you will do better next time 8. never get another chance Rinse and repeat.
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