BC ECONOMY
Saved by @CodyyyGardner

@HoodieMorr @shoe0nhead Oh my goodness. Economic interests -absolutely- tie into this. You need to think about 1) that there are different factions involved & 2) people see economic interest more broadly than just govt spending. On the first point, evangelicals have been part of the Republican base B1/X

 @Lol_0fficial @HoodieMorr @shoe0nhead since the party became identical with movement conservatism, but movement conservatism only became significant as an ideology because of coalition building. Movement conservatism brought together the hawks, laissez faire economics, and cultural conservatives. B2/X
@Lol_0fficial @HoodieMorr @shoe0nhead Evangelicals have always been the best organized element of the cultural conservative faction. Trump's coalition is a new one and it includes cultural conservatives, but that is the only element that is unchanged - and really even it is somewhat different.
B3/X
@Lol_0fficial @HoodieMorr @shoe0nhead A minor difference is accepting Obergefell (which has made it possible for openly gay people to be highly visible members of the new coalition), but the main difference is that social conservatives no longer make a priority of the politician as an individual
B4/X
@Lol_0fficial @HoodieMorr @shoe0nhead as opposed to focusing on politicians merely as conduits through which government is affected. The foreign policy contingent changed completely. The hawks are just gone from Trump's coalition. Instead there's a deep skepticism of interventionism, but without the desire B5/x
@Lol_0fficial @HoodieMorr @shoe0nhead to cut defense spending that usually goes with that skepticism because o a belief in military strengths' deterrent effect. Finally, the 3rd faction of the Trump coalition isn't the doctrinaire small govt free marketeers from movement conservatism. It's a different group
B6/x
@Lol_0fficial @HoodieMorr @shoe0nhead which doesn't see the success of the economy in terms of GDP growth but in terms of employment. Govt intervention in the economy isn't seen as a bad thing and neither is higher spending/deficits. .That's an explicit rejection of the 2012 GOP's endorsement of the Ryan budget B7/X
@Lol_0fficial @HoodieMorr @shoe0nhead and cutting Medicare & Soc. Security. It's also why many in the Trump camp wanted $2k COVID checks when establishment Republicans opposed it. The fullest realization of the values of the econ segment of the Trump coalition would be for America to adopt an industrial policy.
B8/X
@Lol_0fficial @HoodieMorr @shoe0nhead That is a profound departure from the economic views advocated by the modern Republican party and it accounts for people with below avg income/wealth who see Trump as forwarding their economic interests. This relates in an indirect way to Democrats' B9/x
@Lol_0fficial @HoodieMorr @shoe0nhead embrace of (what I think you mean by) "PC stuff" and rural white voters in terms of demographics. Large cities are growing; they attract people with college degrees and are racially diverse. This is the same population that endorses intersectionality (ie, PC culture). B10/X
@Lol_0fficial @HoodieMorr @shoe0nhead There are some rare exceptions, but on the whole, these people in the large cities aren't concerned about their communities withering away, but those Trump people are worried about that. The city cohort expect the local economies to maintain an upward trajectory B11/x
@Lol_0fficial @HoodieMorr @shoe0nhead and for those who don't share in the benefits from that they have a cultural perspective which believes that the problem can be solved via finanvial aid & expansion of entitlements. The rural cohort sees maintaining the status quo for their local economies as intolerable.
B12/X
@Lol_0fficial @HoodieMorr @shoe0nhead Lower prices for consumers when production goes overseas is a huge issue for them in a way that isn't the case for the city cohort. Plus, the support for Trump doesn't just trend rural and white, but male. Not only is this the group most hostile to intersectionality B13/x
@Lol_0fficial @HoodieMorr @shoe0nhead but another cultural difference is that this is a group which will reject the liberal perspective on how to solve the problem of people left behind when others reap the rewards of economic growth. Whether it's reasonable or not, they would see adopting that approach B14/X
@Lol_0fficial @HoodieMorr @shoe0nhead as compelling them to abandon a sense of self worth. They don't have such a sense of loss from an economic approach which produces jobs by granting various benefits to corporations and manipulating trade in ways that increase consumer prices.
B15/15
@Lol_0fficial @HoodieMorr @shoe0nhead PS: Support of $2k aid seems incompat w/ what I said about culture & taking money from govt, but this demo sees COVID policies throttling economy as unnecessarily aggressive & akin to being robbed of income they'd otherwise earn (also explains hostility to public health orders).
@Lol_0fficial @HoodieMorr @shoe0nhead @threadreaderapp unroll

More from Economy

Dinesh Sairam
Dinesh Sairam
@Dinesh_Sairam
1/ Since "liquidity" has been the buzzword these days, here's an anecdote and a powerful lesson from history about printing unlimited amounts of money. Story time. #fintwit

2/ Our story begins with Mansa Musa or Musa I of Mali, an African king who consistently figures in the list of richest people in the world (Inflation-adjusted). One of his given names was 'Lord of the (Gold) Mines of Wangara'. Lest we forget, Gold was the 'Money' in those days.


3/ One fine day in 1324, Musa decided to go on a pilgrimage to Mecca. Of course, it was easier said than done. Mecca was ~8,500 Kms away from Timbuktu, Mali. Ultimately he did make that journey and it has been recorded in the script "The Chronicles of the Seeker" by Mahmud Kati.


4/ Famously, he took a ton of 'money' (Gold) with him to aid in his journey (Well in his defense, it was ~8,500 Kms). About 60,000 laborers and soldiers carried 2 Kgs each and their camels carried 13 Kgs each, bringing the tally to an estimated ~1,30,000 Kgs of Gold.

5/ Being a generous King, he donated Gold left and right to every poor person he saw on the way. Regions of Cairo, Medina and Mecca became instantly 'rich'. The estimated donation is ~32,000 Kgs of Gold or ~$2 Billion in today's estimate.
ECONOMY
Dividend Growth Investor
Dividend Growth Invest...
@DividendGrowth
Ben Graham managed to compound money at 20%/year for 20 years at his partnership following a value investing strategy

In 1948 he acquired 50% stake in GEICO. It had to be distributed to his investors

They almost didn't make the investment due to some accounting questions 1/


Ben Graham paid $712,500 for 50% of GEICO in 1948. He put 25% of his investment assets in GEICO.

This investment did so well that the price of its shares advanced to two hundred times or more than the price of the half-interest by 1971/1972 2/

Ironically, the aggregate of profits accruing from this single investment decision far exceeded the sum of all the others realized through 20 years of operations in the partners specialized fields, involving much investigation, endless pondering&countless individual decisions 3/

Are there morals to this story of value to the intelligent investor?

An obvious one is that there are several different ways to make and keep money on Wall Street 4/

Another, not so obvious, is that one lucky break, or one supremely shrewd decision may count for more than a lifetime of journeyman efforts.

But behind the luck, or the crucial decision, there must usually exist a background of preparation and disciplines capacity. 5/
ECONOMY
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JST Investments
JST Investments
@JstInvestments
A product which provides a fixed income which is better than FD & an upside like equity.

Should you invest in Real Estate Investment Trusts (REITs)?
A Thread 🧵👇


1/ REITs are a vehicle to invest in income-producing real estate properties managed by professionals.


2/ In India, we have REITs primarily focused on commercial real estate properties having 7-9% rental yields.

In listed REITs, Most of the completed properties are pre-leased to big companies.

Why no residential? As yields of 1-3% make them unattractive to investors.

3/ How do you get the benefit of such yield?

REITs have to distribute at least 90% of their taxable income to their shareholders.

Both listed REITs trade at 6-7% dividend yield (which is also tax-free)

4/ Moreover, 80% of their total value must come from completed & income-generating properties + it must avoid speculative land acquisitions.

What about debt then? There's a restriction there too.
Not more than 49% of the total equity.
ECONOMY
Dr. Paige Harden
Dr. Paige Harden
@kph3k
The “Should we get rid of the GRE?” conversation and the “Should we pay undergrad RAs $15/hour?” conversation have three things in common that I think are really unfortunate — 🧵

(For the record, I personally think we should keep the GRE and that the minimum wage should be $15 but I know a lot more about psychometrics than labor economics so I’m more confident about the former opinion)

1- lack of clarity regarding whether a proposed change is seen as a morally good END in itself, versus a MEANS to another end, and if the latter what that end is

1b - for instance, I don’t care whether or not capital punishment deters crime; it’s instrumental purpose is irrelevant to the fact that I think it’s a moral wrong

1c -for the GRE, do you think testing is Bad, regardless of its utility? Or do you think that under representation of some racial groups is Bad? Or do you think the racial wealth gap is Bad? people rarely clarify what ultimate wrong they are trying to right
ECONOMY
Brian Wesbury
Brian Wesbury
@wesbury
Inflation Is Coming!

Some say: Inflation didn’t rise after 2008-2015 Fed QE, so it won’t rise this time. Here are the problems with that argument.

1) From 2008-2015 regulators hammered the banks, so while the Fed’s balance sheet expanded, M2 did not accelerate.

2) In 2020, we used the banks to push out money, the opposite of the first round of QE. PPP loans were financed through banks and unemployment checks were direct-deposited.
3) The M2 measure of money is up more than 25% in the past 12 months.

4) That alone, 25%+ M2 growth, is enough, but we are compounding the problems.
5) Regulating fossil fuel production drives energy prices up.
6) Ag, industrial & transportation are energy intensive, and many claim they are bad for the environment. Result: higher prices.

7) Federal government borrowing and deficit spending encourages more Fed money printing, and artificially lifts demand.
8) Higher tax rates, rising minimum wage, and big government crowd out the private sector; reducing supply.
9) Demand up; Supply down! Inflation is coming.
ECONOMY

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Seth Abramson
Seth Abramson
@SethAbramson
(THREAD) The Whitaker scandal is deepening, as it becomes clear that Sessions' Russia recusal was a coordinated sham and his firing an act of obstruction—and that his replacement is a White House plant inside the Mueller probe. I hope you'll retweet and read on for more details.


1/ From 2014-17 Whitaker worked for World Patent Marketing—which during his tenure defrauded consumers out of $26 million and was successfully prosecuted by the feds. His involvement in the scam confirmed he had loose morals and that the feds would never want to employ him again.

2/ Despite the seeming impossibility of a man with Whitaker's background getting a job at Justice ever again—he'd been found to have used his former title as a US attorney to fraudulently threaten consumers with valid complaints with criminal penalties—Whitaker found an opening.

3/ Within 60 days of parachuting out of World Patent Marketing as it was being fined $26 million by the feds, Whitaker was working for CNN and telling a fellow attorney panelist that his purpose in working for CNN was to get noticed by one man—Donald Trump—and thereby get a job.

4/ Whitaker spent his time at CNN making ludicrous statements about the Mueller probe: there was no obstruction or collusion, he said; Mueller had no authority to look into any aspect of Trump's finances or to subpoena him, he said. All the while, he hoped Trump was watching him.
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Jaya_Upadhyaya
Jaya_Upadhyaya
@Jayalko1
HORANADU ANNAPOORNESHWARI, CHIKMAGALUR (KAR)
#bharatmandir

Annapoorneshwari is the Devi of nutrition and food. The literal meaning of Annapoorneshwari is “Feeding one and all”. Anyone who comes here is offered meals and shelter within the premises.
@LostTemple7


Maharshi Agastya is believed to have done pratishtha here.

Once, Shiva and Parvati had an argument. Shiva declared everything in the world including food to be Maya or illusion. To prove him wrong, Devi Parvati disappeared resulting in entire Earth becoming still.


Taking pity, Devi appeared as Annapoorna and relieved everyone.
Another belief is that once Shiva beheaded Brahma and his skull got stuck in Shiva’s hand. He was cursed that till the skull is not full of food or grains, it will remain stuck to his hands.


Shiva went everywhere and asked for food but the skull was never full. He finally came here and Maa Annapoorna filled the skull with grains and reversed Shiva’s curse.

It is believed that who ever visits Devi Annapoorna here will never be without food in their lives.
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श्रीमाली हितेश अवस्थी...
@HiteshAwasthi89
Varahi Amman, Madurai, Tamilnadu

Vaarahi is one of the Saivite Shakti deities with the group of goddesses known as SAPTAMATAS.
They are: Brahmi, Maheshwari, Kaumari, Vaishnavi, Vaarahi, Mahendri and Chamundi. 1/n


They are the Shakti (female) equivalents of their male counterparts. Vaarahi is the Shakti of Bhairavar who is one of the Amsam of Bhairavar.Created from the boar avatara of Vishnu, Vaarahi is often associated with Goddess Kamala (one of the Mahavidyas). 2/n


She is also called Dandini (Lady Commander of the forces of the Mother-Goddess, symbolizing the might of SriVidya). As Vaarahi ("hog-faced" or "the great consumer") she destroys evil forces that obstructs the devotees' progress, paralyses the enemies 3/n


and led the devotees ultimately to SriVidyas. She is also called Panchami). With Kurukalla, she is accorded the parental status to Sri-Chakra (Lalita Tripura-Sundari). While Kurukalla represents the full moon, Vaarahi represents the new-moon. 4/4

Jai Maa Varahi 🙏


Tag for 📷 credit
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Andrew Chen
Andrew Chen
@andrewchen
👇Thread.

Published a new essay: The red flags and magic numbers that investors look for in your startup’s metrics – 80 slide deck included!


This was a deck that I created on my (longish) interview process with @a16z. It was a long path, starting with meeting folks at the firm 10 years ago. But the purpose of the deck was to explain how I would use my superpower in an investing context

Here's what I explain in the deck. As investors (whether angel or VC) we're often confronted with an up-and-to-the-right graph. Is it going to go up? Or down?


One solution to forecast these growth curves is the Growth Accounting Framework, where you add up New+Reactivated and subtract churned users. In each time period that gives you the difference in monthly actives.


The problem with this is that it's a lagging metric, not a leading one. We need to go one level deeper and look at the underlying loops that drive these numbers, to understand the quality.
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Matt Wallace
Matt Wallace
@MattFnWallace
Hey, who wants to read a story about @Upwork fucking over freelancers in order to upsell their clients on unnecessary services the clients don't want and can't afford? Strap in!

So after my marketing agency closed I started freelancing again. A marketing company that wanted to work with me only hires freelance writers through @Upwork. So I signed up. I wasn't thrilled about it, but that's who they contract with and it's their marketing company.

I've been receiving regular assignments from this company, thru @Upwork, for over a month now. I've written dozens of articles for them. My work has been exemplary. I've been handling repeated rush jobs and delivering. The client was and is very happy. That's coming from them.

While I was wrapping up several assignments this week I was contacted by the marketing company. They asked if I had taken a new full-time job and wasn't available anymore. It seems @Upwork's talent group told them I was no longer available to take assignments.

I was very surprised. Nothing had changed on my end. I still needed the freelance work very much. I told them so. So the marketing company pressed @Upwork and were told there were "compliance" issues that were preventing the marketing company from giving me any more work.
TECH