Sublime

Finally, the blitheness of Krugman's actual solution—a massive tax increase—ignores all the knock-on effects of that idea. Keeping Social Security and Medicare whole will require a tax increase in excess of $1 trillion, which would have massive repercussions on wages, the costs of starting a business, and economic growth in general. It's far from... See more

A few points on Janet Yellen’s utterly bizarre trip to China where she appeared to try to convince China to follow a growth model that the US Treasury concocted based on their own failed ‘Biden Bux’ policies of the past three years. - The main complaint against China was on trade, not yuan-dollar exchange rate. So,... See more

When people can’t move, neither can labor, families, or fertility. There’s a new study showing that housing costs account for about half the US fertility decline between 2000 and 2020. It’s childcare too - a new paper from Abigail Dow reports that a 10% increase in the price of childcare leads to a 5.7% decrease in the birth rate

The vibecession exists because we are in a media environment where a centrist hedge-funder can write an article using awful homebrew statistics to argue the economy is secretly bad, and then both the far right and far left go viral sharing it. That's it. That's how it happened. https://t.co/xuVLNJVOlO

Almost anyone can tell you the cost of living has increased between the onset of the pandemic and today. Implying anything else is, as my younger colleagues would say, legit gaslighting, or at least missing the point. Now, in recent months, headline after headline proclaims “inflation has cooled.” But does that mean we are out of the water?

This... See more

calling gary cohn… https://t.co/9KUp0vibLT

Former Fed chairman Ben Bernanke may be correct that these measures averted an economic collapse worse than the Great Depression. But they worked largely by further exacerbating income and wealth inequality, something that did not happen in the years following 1929. And they rendered the economy dependent on ever-higher doses of stimulus—leaving it

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