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

1. In some respects @IgnatiusPost is right- @JoeBiden's cabinet IS built for comfort- BUT its imp to rem the context.

That comfort is a function of the extensive exp this cabinet has- the antithesis of Trump's appointments.

This country NEEDS the antithesis of Trump's cabinet

2. But its also built for another purpose. Its built to be an olive branch to one man- @senatemajldr who is expected to yield either total control over confirmation, or at the least, great influence. Its meant to signal to him that Biden is serious



2. about his "governing for all" campaign pledge & asking for a reset moment in American politics post-Trump. Something he continues to hope for even as more than 1/2 of the House GOP Caucus signs onto an amicus brief to the Supreme Court of the United States that argues to end

3. democracy itself, as @SteveSchmidtSES articulates so clearly in this video that every American should see. Biden could not have presented to the GOP Senate, to McConnell, a more serious peace offering than this cabinet and its a good move that if it

4. works would pull America back from the brink of a civic collapse. So it MUST be tried even if people like myself think the odds of success are depressingly low. It simply MUST BE TRIED. BC if we are to plummet off the cliff, it needs to McConnell & the GOP who on their own are

1. I am thankful that at 12pm 1/20 the powers of the prez will be removed from the most dangerous person who has ever held them. I am thankful for the many wonderful fellow Americans from across the spectrum that joined me to help get him out & save America from authoritarianism

2. I am thankful for each & every person that had to make a hard decision, stay silent & normalize this man & his party's actions- which mirror so closely actions taken by other leaders & parties as they moved to consolidate power at the expense of democracy (as documented so

3. clearly by @anneapplebaum's book Twilight of Democracy) bc their lock on power is threatened. Those of us that took a holistic look at events in the U.S., the scope of the Right's propaganda network, and the lengths to which GOP influencers (electeds & media) were willing to

4. go to manipulate public opinion and knew without a shadow of a doubt that we were facing a five alarm fire. Trump, as dumb & self-sabotaging as he is, does one thing perfectly well- manipulate public opinion. Trump fully understands that public opinion flows from the top-down,

5. and that when you control the information diet of a group of people, as the Right is controlled, that manipulation level reaches profound levels. By the time Trump came down the golden escalator in May of 2015- the Republican electorate was primed for someone like him to come

1. What @WillieGeist is trying to get across to @NikemaWilliams on @Morning_Joe is that the GOP is nationalizing their message & making their message high stakes, tapping into voters anger at Trump's loss to get them to vote in a Jan. run-off & that Ds NEED TO DO THE SAME. Its

2. about giving Trump power- its about giving low-info voters, who are the bulk of the electorate motivation to cast ballots in the run-off. This is WHY turnout plummets in these things on the D side- the GOP keeps their messaging on stakes (control of the senate to fend off

3. socialism) while Ds go off into policy. That is a losing strategy. It just lost them nearly a dozen House seats & the chance to cut into partisan gerrymandering by flipping 4 state houses. They can't make that mistake here bc control of senate is everything here. If Ds have it

4. Biden can get some policy done- if Ds don't, the GOP will block everything. Biden will be a lame duck from day 1. So the message should be "hey voter, did you know you have a super vote? That's right, with your one vote, you can elect 2 senators that will give Ds control of

5. senate & with it REAL police reform. With it, Dreamers not getting deported to countries they've even been to- potentially to die from lack of insulin. With it, the power to save the pre-existing conditions coverage for millions of Americans, including Nicu babies who'd in

Remember, socialism leads to Communism. So, how do you create a
Socialistic State?
There are 8 levels of control; read the following recipe:
1) Healthcare - Control healthcare and you control the people.

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.

"if you demand more pay, we will replace you with robots" is not a reason to pay people less than it costs them to work for you, it is a reason to have your corporation taken over by the state, or dismantle an unwilling state and rebuild one that does.

corporations and governments are out here accelerating your deaths so they can monetize your remains while some of you assholes go "well $15 is too much"

$15 was insufficient 20 years ago, and it's insufficient now. pay people enough to feed their babies or they will kill you.

if people have nothing left to lose they will act like people with nothing left to lose

i cannot make it clearer than this

capitalism only "works" if you have enough police per so many thousand desperately poor individuals.

capitalism only "works" if you employ enough human beings to be the face of your blatant exploitation.

go ahead and automate and watch how fast people sabotage your shit.

if your government does not keep you fed, healthy, and safe, it has no reason to exist.

government - leadership of any kind, tbh - only exists to centralise the management of common needs, so we don't all have to individually scrabble to survive every day, on our own.

My friend @itsafronomics wanted to know the breakdown of student debt by income, so I pulled data from the SCF.

Student debt is more concentrated amongst high earners, but disproportionately amongst Black borrowers. The plot below plots the average within Income Quartiles.
1/n

But those are the averages. What's the share that's above 10k? (This is the Biden current cutoff for debt forgiveness, so a useful benchmark).

For comparison, 20% of white Americans have student debt, and 31% of Black Americans.

Let's contrast that with say, above 20k. I was surprised at how high the share remains.

When we get to 50k of student debt, or more, we see it's only about 5% of the US, and around 8% of Black Americans. Strikingly, it's a huge share of high income Black Americans (this is a known fact in the education literature, I believe).

So what does this look like put together? Overall, we see a higher share of Americans with debt above 10k, and 20k. We would cover a decent amount with 10k, but miss Black Americans especially.