Rich Lowrie @richlowrie

@VinnysCorner1 Bartolo Colon

@LynAldenContact Funny how the government takes ~20% of GDP in perpetuity, yet it’s still not enough.

@DariusDale42 @DavidRMalpass @federalreserve @WSJ Reminds me of this oldie-but-goodie WSJ oped by Herman Cain wsj.com/articles/the-f…

@EPBResearch Great news Eric! Congratulations to you, your donor, and the team at FibroFighters. Happy to support a great cause and success story.

@GavinGewecke Although “advanced tactical command seat for intergalactic operations” sounds like it best fits your job. 😁

@jimiuorio The factors of production that are mobile…mobilize.

Jim is winning the argument. Hint to the others: Think of federal income taxes, state income taxes, local income taxes, capital gains taxes, dividend taxes, federal death taxes, state death taxes, payroll taxes, sales taxes, property taxes, commercial activities tax, and many more.

@DariusDale42 @MoneyLynch @Seahawks Love the hat!! Go Sehawks!!

Sentiments of Venezuelans I’m going to say this once, and I don’t care if it makes people uncomfortable. If you have never lived in Venezuela If you did not grow up there If you did not watch your country collapse in real time If you did not stand in food lines If you did not watch your parents lose everything they built If you did not have to leave your home with nothing Then shut the fuck up. You do not have an opinion. Your opinion does not matter. And you don’t get to lecture anyone about what’s happening there. I’m Venezuelan. I lived there most of my life until my early twenties. I watched my country go from a functioning democracy to full blown socialism right in front of my eyes. This is not politics to me. This is trauma. Before socialism, Venezuela was not perfect, but it worked. There was trade. There was money coming in. There was investment from the US. There were jobs. There was food. There was medicine. My family had five businesses. We had our home We had investments. We had a future. Then the government started nationalizing everything. Private companies were taken. Foreign investors were pushed out. Imports were blocked. Price controls destroyed production. Corruption exploded. And everything died. Not slowly. Violently. People didn’t suddenly become poor because of “capitalism” or “the US” or whatever bullshit slogan people like to repeat online. They became poor because socialism destroyed incentives, destroyed production, destroyed trust, and destroyed hope. People today in Venezuela are not debating ideology. They are trying to survive. They are trying to find food. Trying to find medication. Trying to keep their families alive. So when I see people in the West posting from comfortable homes, full fridges, stable currencies, and safe streets talking about “imperialism” or “US bad” or “Trump this or that” No. It’s not complicated. You’re just ignorant. China is not rebuilding Venezuela. Russia is not rebuilding Venezuela. Cartels are not rebuilding Venezuela. They are stealing. They are extracting. They are draining what’s left. If the US comes in and reinvests If refineries get rebuilt If infrastructure gets restored If imports open back up If food, water, and medicine become accessible again If people can work and earn with dignity Then yes. Let them take all the oil they want. Because at least something gets built instead of destroyed. This is something to celebrate. Not because it’s perfect. But because for the first time in a long time, there is hope. Hope that families can eat. Hope that people don’t have to flee their country. Hope that Venezuela can function again. If you’ve never lived through a country collapsing If you’ve never watched socialism destroy everything around you If you’ve never had to leave your home because staying meant starvation Then again Shut the fuck up. This isn’t theory. This isn’t politics. This is lived experience. By Stephen Subero

this is shocking: > US collects $2.4T in income tax, but spends $1.5T on fraud > if we didn't have to pay for fraud, only $900b would need to be collected > this means anyone with less 500k in income could pay *literally $0* in income tax we don't need to raise taxes. we need to cut fraud

Peter St Onge, Ph.D. @profstonge

6 months ago

If you cut $1.5 trillion in fraud you could exempt all income tax up to $200,000 🤯

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Speaking of new voices at the Fed, here is an OpEd I helped Herman Cain with when he was nominated to Fed Governor by Trump in 2017. Just as true today as it was then. My favorite line, “Monocultures tend to be fragile, but is the Fed that fragile it can't handle challenges to its models or the assumptions that feed them?” docs.google.com/document/d/0B0…

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@DariusDale42 @federalreserve The Fed should fire any employee who knows what the Phillips Curve even is - an absolute purge. Then simply stabilize the dollar. That way they’ll never be able to treat wage growth as a “cause” of inflation. (A couple of dated but timeless graphs)

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Yes, I see the problem, it’s the one you continue to ignore. Namely, that the @federalreserve has treated wage growth as a cause of inflation since the academics took over and drank the Phillips-Curve kool aid. The result is real income stagnation for the bottom 90% since 2000. But, go ahead, keep looking the other way.

@surendr98353244 @DariusDale42 Imposter alert. Reported.

Come on @BarackObama, say his name. It’s the easiest opportunity you’ve ever had to give some credit to President Trump & unite Americans. This fact that you refuse to do it, even in this one very special case, reflects why we’re so divided.

Barack Obama @BarackObama

9 months ago

After two years of unimaginable loss and suffering for Israeli families and the people of Gaza, we should all be encouraged and relieved that an end to the conflict is within sight; that those hostages still being held will be reunited with their families; and that vital aid can

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The Fed got overtaken by academics in the late 90s (I say it began in ‘97) and academics are under the spell of the Phillips Curve superstition that posits wage growth ‘causes’ inflation. Whenever a rising tide was about to lift all boats, the Fed has tightened to ‘arrest’ wage growth. Bottom 90% real income has been stagnant since. If the Fed went back to just stabilizing the dollar, the economy would grow faster and the Fed would be prevented from stamping out wage growth. They would never do it on their own - Congress would need to amend the Act.

Great analogy!

Darius Dale @DariusDale42

10 months ago

Passing the ball is the football equivalent of taking factor risk as a retail investor. Sure you can outperform, but the probability of you consistently outperforming period after period is lower because there is more variance among passing plays than among running plays. But

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@GavinGewecke Post a picture

1971 is significant in that it ended the Fed’s sole mandate to stabilize the dollar. It led to a decade of ‘equality’ (of misery). The 80’s-90s Fed policy was steered by central bankers (Manley Johnson, Wayne Angell, etc) who, while they had no explicit mandate to stabilize the dollar, nonetheless recognized the primacy of such and for the most part delivered one. Then in the late 90s (I say the 97 appointment of Yellen) ushered in the “PhD Standard” which ultimately says wage growth is bad (the Phillips Curve superstition began to dominate the Fed). Each cycle since, the Fed has tightened when wage growth got “too strong” for their models (Tightening late in a cycle to reduce aggregate wage growth). The result is prolonged income stagnation for the bottom 90% Real income for the bottom 90% reached the highest ever in 2000, declined enough in the ensuing years to wipe away gains of the 80s-90s, and has only intermittently bounced back. How can we ever have across the board prosperity if the very thing that generates it (rising real income for the bottom 90%) is the very same thing the Fed is committed to stamping out?