Cameron Taylor @kidgorg

Ro, I like you. You know that. But you need to read the state of the state. The number of Deca Unicorns in Cali is growing by the day as investors chase amazing startups. A unique feature of these 10b startups is that even if they raise a billion, little, if any of that money goes to the founders, who are now worth billions of dollars over night. They are the definition of cash poor, stock rich How are you going to tax them ? Make them borrow money against their shares, if they can? They just raised money to grow their company and a bank will come along and loan them money ? A company that has been in business maybe less than a year ? lol Will you take their stock if they can’t ? Do you really think each of multiple founders, who started an amazing company in Cali and is now a billionaire, can each just pull out $250m per billion of net worth from their raise ? You know they can’t. If this passes , and it doesn’t directly impact me at all, I won’t be a cali resident, but you can bet if I’m investing in a multi billion dollar startup, I’m asking them to move from California first. IMO, if this passes, only idiot startup founders stay in Cali. I’ve done it before and will do it again. Dallas. Pittsburgh. Indiana. I will make NOT being in California a pre requisite for an investment Ideology is not a strategy Ro.

Ro Khanna @RoKhanna

2 days ago

The California Democratic Party and the California labor movement just stood with @BernieSanders and me in supporting 5% wealth tax on 250 California billionaires. California voters want a Democratic Party that will stand up for the working class over the billionaire class.

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Vance is a genuine crank. Like he’s interested in ideas but he’s one of those people who can’t differentiate good and bad ones. Like a Lyndon LaRouche type who got an opportunity to go far because of the state of the American right.

Phil Magness @PhilWMagness

2 days ago

JD Vance's supporters are predictably accusing me of misrepresenting him as a supporter of destabilizing and devaluing the dollar. The problem for them: Vance has made this same type of attack on the US reserve currency status several times.

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A quick explainer on why Vance wants a weaker dollar: It's not because he recognizes some underlying problem with fiat currency. It's not because he wants to bring back the gold standard, nor is it because he envisions a future bitcoin or cryptocurrency standard. Vance's objection to the dollar's reserve currency position is entirely about protectionism and tariffs. You can see this clearly in his public commentaries about the dollar's reserve currency status. He uses the same argument every time. It begins by likening the reserve status to a "resource curse" (which is a completely inappropriate and confused analogy). Then he claims that the dollar's position makes consumer goods "too cheap" (via imports), while also insisting that this somehow harms US production (via exports). He frequently deprecates those "cheap" consumption goods as "mostly useless imports" and juxtaposes them to a "hollowed out" industrial production sector, while portraying the dollar's strength as a "tax on producers." This is a classic protectionist fallacy, rooted in the belief that trade is a zero sum game and that trade deficits indicate that "we" as a country are losing things to the rest of the world on net. Currency enters the equation because Vance subscribes to an extremely shallow version of the "twin deficits hypothesis" - the belief that our federal budget deficit is somehow causing our trade deficit. This theory is based upon mistaking an accounting identity for a policy tool, wherein the GDP identity (Y = C + I + G + (X-M)) can be converted by rearranging the terms to show an accounting relationship between the trade term (X-M) and government spending and taxes. The mistake here is that this is not an operationalizable formula where you can manipulate the terms - it's simply an accounting identity. As such, the "twin deficits" hypothesis does not reliably hold in practice. Empirical evidence of it from the US over the last 75 years is thin to nonexistent, suggesting a weak spurious relationship at best and a pattern that often breaks down with the two deficits moving in opposite directions (e.g. as happened from 1998-2001) or when they evolved at wildly incongruous magnitudes (most of recent history). Vance's agenda also has another complication, because his marquis policy agenda in the economic realm (shared with Trump) is to impose protectionist tariffs on everything. Holding all else equal though, tariffs generally have the effect of strengthening the dollar's position internationally because they reduce trade, and that reduces dollars flowing abroad. In simpler terms, tariffs are akin to shooting yourself in the foot if your goal is a weaker currency. Vance has therefore embraced the notion that he can simultaneously enact tariffs and offset these effects by forcing a rebalancing of the dollar's position abroad through other levers. Vance himself is light on specifics, but this was the point of the infamous "Mar a Lago Accord" paper by former WH economic adviser Steve Miran, who Vance frequently and publicly championed. The problem with this entire set of positions (in addition to them being premised on basic economic fallacies about how trade works) is that executing a simultaneous tariff-and-currency-rebalancing agenda is like playing with matches next to a gasoline pump. Even in theory, pulling off both policies at the same time would be nearly impossible due to the high likelihood of unintended economic harms arising from the erroneous assumptions behind Vance's understanding of trade and international exchanges. Now take that and try to pull it off with the team of Peter Navarro-esque clowns in the current White House, and you have a recipe for stumbling headfirst into a self-inflicted recession, inflationary crisis, or both. Anyone claiming that there's some other takeaway message from Vance's comments, or portraying it as him "just asking questions" about our reserve currency position, is deflecting attention away from the fact that his entire interest in this subject is motivated by trade and protectionist crankery.

She’s an American citizen so I disagree with the deportation thing. But I don’t know why anyone would want their kid to be taught by this woman, why U Chicago employs her, or why she wants to stay in a country she so clearly detests (at least performatively). I think the most annoying thing about these people — not the worst thing in a moral/intellectual sense, just the most annoying thing — is how cliched and boring they are to anyone who knows anything about this stuff. These are not edgy, new, exciting positions. This crap was in the streets and sitting in crumbled pamphlets in coffee houses in the 1960s, 1930s, heck in the 1890s. It’s just weak-minded radical cosplay for people who think incanting stale ideas makes you transgressive and cool if your audience already agrees with you or if they’re even more ignorant than you. She’s just an academic version of Hasan Piker and no more impressive.

Adam Milstein @AdamMilstein

3 days ago

So Eman Abdelhadi, who is Abdul El-Sayed’s sister… wants to abolish the United States as a nation, do away with the economy and eradicate money completely. This delusional Marxist, who should be deported is instead teaching your children at the @UChicago

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14 years ago, Ken Paxton stole a man’s $1,000 pen. The victim endorses Talarico. It’s just amazing what trash Paxton is on so many levels. Also a good lesson that you should always press charges against criminals. It stops them offending in the future.

The least secret secret of all time.

WarMonitor🇺🇦🇬🇧 @WarMonitor3

3 days ago

Putin plans to take control of Moldova once he is finished in Ukraine and told top officials in a top secret mission last year his goal in 2026 was to Collapse the EU and NATO from within-NYT Wow...

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Guys, he’s most famous for getting people to eat bugs on TV for money. If you were hoping for a heavy intellectual guru, you were never going to make it.

Ryan Saavedra @RyanSaavedra

3 days ago

Joe Rogan: “I’m leaning towards” Candace Owens’ conspiracy theories about the assassination of Charlie Kirk.

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Fuck Putin. And fuck Trump for siding with Putin.

Kate from Kharkiv @BohuslavskaKate

3 days ago

Woman and a 9-year-old child were killed, and 4 others were injured, in a russian strike on Sumy region‼️

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May I ask you a question, my friends -- my Republican friends, in particular? What kind of man inscribes his name on another man's memorial? Really, what manner of man?

The New York Times @nytimes

3 days ago

The Kennedy Center board voted on Thursday to inscribe President Trump’s name on its building, aggressively testing a federal judge’s order to remove it, according to two people with direct knowledge of the proceedings. nyti.ms/45mzwzY

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To be innumerate means to be unable to understand numbers and mathematics, the equivalent of illiteracy for words. We have an innumerate president, applauded and enabled by a largely innumerate Congress, elected by a largely innumerate public.

This seems like a dumb move.

Dave Brown @dave_brown24

3 days ago

SCOOP: Trump has directed the Navy to tear out a complex system for launching fighter jets from its aircraft carriers and instead go back to using steam catapults, a move Navy officials have fought for years and will likely cost billions in extra dollars. U.S. officials say

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The glorification of Mangione and the disgusting fandom surrounding him are among the most morally repugnant things I’ve ever witnessed.

New York Post @nypost

4 days ago

Luigi Mangione expected to plead guilty to federal charges in assassination of UnitedHealthcare CEO trib.al/7d1em0z

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He hides it better than she does.

Lee Kuan Yimby @LeeKuanYimby

3 days ago

Here is an October 7th celebration video From Abdul El Sayed's Sister, Eman Abdelhadi. She is currently a Professor at The University of Chicago. "I wanna start by saying Allahu Akbar." Screenshot and link below incase she deletes it.

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Would it be politically incorrect to sense a pattern?

Diridol_ @Diridol__

4 days ago

Un momento perfecto para usar este mapa.

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It’s just incredible how stupid populism is! They go back and forth between “things are too expensive” and “things are too cheap” without batting an eye. The only consistency is 1) a negative pessimistic outlook; and 2) a dislike of foreigners

Phil Magness @PhilWMagness

3 days ago

JD Vance wants to end the US dollar's position as a global reserve currency, because he thinks it allows Americans to consume too much and do so too cheaply. Keep that in mind the next time you order a $20 burrito on door dash.

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JD Vance wants to end the US dollar's position as a global reserve currency, because he thinks it allows Americans to consume too much and do so too cheaply. Keep that in mind the next time you order a $20 burrito on door dash.

Fascinating. Some data centers came to a struggling town in Washington state. Did it run out of water? Was the community destroyed? Let’s see. The town…built a new high school, hospital, library, sewage systems, and police & fire stations. Poverty fell from 29% to 6%. Oh.

This stuff really is repugnant. The president of the United States suing a think tank for publishing a report that offended him is called "authoritarianism." I know people are desensitized, but anyone who claims to care about free speech should find this detestable.

Lindell is a complete lunatic conspiracy theorist. Absolutely insane that Trump endorsed him. Good to see Republicans do the right thing and reject insanity in this race.

InteractivePolls @IAPolls2022

5 days ago

🚨 RACE CALL: Lisa Demuth defeats Trump-endorsed Mike Lindell in the Republican primary for Minnesota governor.

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The Pakistani genocide in Bangladesh in 1971- a real one this time- was brought to an end by an Indian army led by a Jewish commanding general.

Mayor Zohran Kwame Mamdani @NYCMayor

6 days ago

Yesterday, I gathered with residents at the Allama Iqbal Community Center’s Mela to commemorate Pakistan’s Independence Day and honor the contributions Pakistani New Yorkers have made to our city. Today and everyday, we celebrate this community whose open arms, determination,

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