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

When Biden talked about unity, he was very specific about what he meant, and the insistence of right-wing tools like @Kredo0 to try to frame stuff like this as “betraying his own ‘unity agenda’” (what is that even a quote from?) shows how pointless it is to try to work with Rs.


Guys like @Kredo0 want to a.) put the onus of unifying the country entirely on Biden and Dems, b.) pretend that “unity” is the same as capitulation, while c.) not giving an inch on their end.

No. No, no, no. Nice try.

Really, get all the way the fuck out of here with that take. “Biden didn’t keep Trump’s POLITICAL APPOINTEES in their position, therefore Biden isn’t unifying the country.” Fuuuuuuck off with that bullshit.

When Biden said “unity,” he was talking about trying to help ALL Americans, not just the ones who voted for him. This, sadly, needed to be said after the Trump administration repeatedly tried to screw over people who didn’t support him.

Remember when the Trump administration INTENTIONALLY let the virus rage out of control (really should have been a bigger scandal, but 🤷🏻‍♀️) because it was mostly hitting states that voted for Dems?

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@AdityaTodmal