bankers against Biden's fiscal plan could really do with some proper fact-checking before sending their op-ed to the FT.

We all understand 'it's ideology, stupid!', but no excuse for lazy arguments.

apparently, the Gospel according to Morgan Stanley is that we havent had enough neoliberalism for the past 4 decades
if you click on BIS link, it tells you monetary policy, not higher deficits, are associated with wealth inequality.

Incidentally, unconventional monetary policy through which central banks basically rescued banks after they nearly destroyed the global financial system in 2008
speaking of government spending, who else but Morgan Stanley got $10 billion in equity investments from US Treasury in 2008?

I cant think of a more productivity-enhancing outlay for 10bn of public funds.
the OECD 'evidence' that 'four straight decades of growing government intervention in the economy have led to slowing productivity growth' is also, excuse my language, a lot of bullshit.
if anything, there is stronger evidence that monetary policy is more important for explaining some of the productivity puzzle.

to blame government spending, instead of the Morgan Stanleys of this world, for monetary policy is, let's say, a bit rich
I really like that someone high-up in Morgan Stanley can write about the 'low interest rate elite'

it's on par with Erdogan's 'high-interest rate cabal'
the OECD 'evidence' again, two paragraphs lower!
'my team cannot prove causality, and I wont even link to the study proving correlation, but it must be true because I am a serious person making substantive arguments backed by strong evidence'
the average person understands that some bankers do get a free lunch, and munch on it while penning underwhelming op-eds.

I for one am all for Biden taking it away. Or better, redistribute it to some migrant workers breaking their back for $10 an hour.

More from Biden

1. Ben Rhodes’s comment dismissing the concerns of former political prisoners and US hostages in Iran regarding Rob Malley’s potential appointment as Iran envoy is deeply unprofessional and offensive. As my own story illustrates, not everything is about partisan DC politics.


2. In 2016 I was a Princeton graduate student who excitedly supported the JCPOA and the new era of Iran-US diplomacy it was meant to usher. Such was my optimism that I actually went to Iran for dissertation research. That’s when my nightmare began.

3. I was arrested by Iranian security forces and held hostage in Evin prison-away from my wife and infant son-for more than 3 years. The regime knew I was innocent and told me so. It took me 40 months in Evin to comprehend what had happened to me.

4. As a political prisoner I’ve likely had more intensive contact with Iranian hardliners than most Iran watchers in the US, especially US govt officials like Mr. Rhodes and Malley. I believe the insights derived from that experience have a unique value.

5. I support strengthening the nuclear deal, but am convinced the JCPOA of 2015 is well-intended yet inadequate. Simply lifting pressure against Iran and allowing it to benefit from economic integration produced NO further incentive for the regime to change its behavior.

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This is NONSENSE. The people who take photos with their books on instagram are known to be voracious readers who graciously take time to review books and recommend them to their followers. Part of their medium is to take elaborate, beautiful photos of books. Die mad, Guardian.


THEY DO READ THEM, YOU JUDGY, RACOON-PICKED TRASH BIN


If you come for Bookstagram, i will fight you.

In appreciation, here are some of my favourite bookstagrams of my books: (photos by lit_nerd37, mybookacademy, bookswrotemystory, and scorpio_books)