** MMT is the new supply-side economics
Forty years ago, some economists started from an uncontroversial (but important) result: a lower tax rate raises the tax base, so revenues won't fall as much. But then they ran with it, predicting tax rate cuts could raise revenues.

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🚨🚨 THREAD TIME 🚨🚨

let's talk about the differences between income, wealth, and class

tl;dr: income is earned, wealth is bought, and class is inherited

also hi friends, while on the topic of income, this work is my only source of it! times are tough and folks are really struggling, but if you have a couple extra bucks please consider sending a tip my way

💰 venmo rachel-kahn-5
💵 cashapp

INCOME is the amount of money a person makes from labor and investments

so if you work for 2,000 hours and are paid $40,000 in a year, that's income

OR if you have a $1,000,000 stock portfolio with a 5% return rate and cash out $40,000 of it, that's income too (fucked, right?)

WEALTH is the amount of capital you own

that could be owning a house and land worth $150,000

or owning a small business with $150,000 in assets

or owning $150,000 worth of stocks

wealth is the investments that are themselves accruing value

CLASS is about what you stand to inherit

in the united states we use a lot of weird doublespeak to avoid talking about the proletariat, the petit bourgeoisie, and the bourgeoisie directly

proletariat ~ working class
petit bourgeoisie ~ middle class
bourgeoisie ~ upper class

Chinese troops on U.S. soil?

Chinese troops on Canadian and Mexican/S. American soil?

Underground tunnels facilitate movement between the three?

This is a thread to follow up. I won't have enough time to do all the research necessary in one shot.

F-16 Crash Tuesday night (12/8/2020) and speculation about whether "50,000 Chinese troops were killed." Further research links on this

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This is a really tough problem to resolve, especially if the massive increase in inflows from the trade and financial accounts are sustained, as I expect they will be well into 2021.

Clearly the PBoC would like to see the RMB gradually...

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strengthen. This would keep financial markets stable and promote rebalancing, but the RMB has already strengthened a lot, and this puts unwanted pressure on exporters and “international circulation”.

Although PBoC reserves have been flat, other state-controlled Chinese...

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banks have bought large amounts of dollars, but this is expensive. If these banks have half a trillion dollars of exposure, for example, they are losing at least $15-17 billion annually on negative carry, plus another $20-30 billion just this year from the rise of the RMB.

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Beijing seems also to be trying other measures to slow the rise. The regulators are relaxing capital controls on outflows. In mid October the PBoC cut to zero the reserve requirement ratio for banks doing FX forward trading. This requirement was created in 2018 to reduce...

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downward pressure on the RMB. In late October it suspended the counter-cyclical factor in RMB fixing, which was introduced in 2017 also to reduce downward currency pressure. But in both cases while the RMB dropped a few pips on the news, it quickly resumed its upward climb.

1. Been excited about @JoeNBC's sustained convo today about @KBAndersen's new book Evil Geniuses: The Unmaking of America which explains how the Republican Party radicalized OVER ECONOMICS over the past 30 years. It was launched w the radical tax cuts in Reagan's presidency, but

2. as the GOP evolved through the 90s & 2000s they became dogmatic about their economic philosophy- until it became a radical litmus test/position the party followed even when conditions screamed for different policy. It was a MIRACLE the party acted to stabilize the economy at

3. at the end of 2008 when it was crashing down around us (though they just barely did & some didn't and that's bc it was before the Great Purges of 2010,2012, & 2014). America doesn't know the hit job the GOP did on the American economy as they dogmatically pursued tax cuts to

4. the exclusion of everything else while denying any policy that could grow wages or improve the economic lives of the bottom 80% aside from the 2 or 3 times Ds managed to squeeze through policy while in charge (minimum wage increase in 2007-which was the 1st time in a decade

5. and now, of course, its been another decade. It's actually a miracle wages (all wages bc when the min wage is artificially low it affects all the wages above it, that's how you end up w $10 per hr EMTs & teachers) aren't even more out of wack w inflation. As @JoeNBC points out

Originally posted Jan 5th - https://t.co/Vim3JlOtlZ

FULTON CO.

We're looking at "book votes." That is, people who are marked as having voted in the voter rolls. This is how Floyd County was detected - you had an excess of voters in the book vs. what was recorded on machines.

Jan 5th I mapped the book votes visually at a precinct level and found curious correlations that bears public scrutiny.

Screencaps are not from a public site, but underlying data given is real, public, and verifiable.

We'll be taking a precinct-by-precinct look at Fulton county excess votes. Excess meaning more recorded votes than book.

Fulton has 10K+ excess votes. This has been blamed on stale record keeping. At a precinct level, there are 14700 "excess" votes and 3900 "missing" votes.

This is a precinct map of Fulton County. There'll be a lot of data, so refer to these maps over and over until you understand. Here, the red and yellow/orange areas are where the most excess votes are (by ratio).

And for background context - this is a map showing where Trump votes are. This is a *relative* coloring not an absolute coloring (otherwise it'd be all blue). Fulton is strongly Democratic so the red areas are actually like 55% Trump at best whereas the blue areas are <5% Trump.