My wife and I attended the “Stop the Steal” Trump Insurrection on Wednesday (as observers, NOT participants) and there are FIVE big take-aways from what we witnessed and heard outside the Capitol that I'd like to share. (We took all the pictures below). 1/22

#Justin A day before the @MyMDC_T EOC, the party Treasurer General says he is unable to fund travel costs for delegates to congress because the money was allegedly stolen. We share contents of the letter from #ChiefNdlovu

“My office has been inundated with calls from concerned EOC delegates who by now should have received their Provincial transport allocation.
It has come to my attention that some of our members may not be able to travel to the EOC due to lack of funding.”

Equally I have received allegations that the Treasury is refusing to make payments for EOC, nothing could be further from the truth. I would like to take this opportunity as your Deputy Treasurer to inform you that as treasury we are not able to pay due to the fact that...

that funds were withdrawn from the party account on the 18th December 2020, we are still pursuing and trying to get some Standing Committee members who were involved in the unapproved transfer to return the money to the Party.
I was left a bit shocked to learn that the SG expects

Treasury to release money when he is the one who transferred all the money out of the account without my explicit approval. Perhaps the SG must inform members where the money is. I certainly do not have any knowledge of who he sent the money to or what has happened to those funds

First Minister @NicolaSturgeon: "Good afternoon, and thanks for joining us today. I've got quite a lot to cover in my opening remarks today so please bear with me, but it's all by way of important and, I hope, useful update to you."

NS: "First of all, to today's statistics. The total number of positive cases reported yesterday was 2,649."

NS: "That is 11.3% of the total number of tests carried out, and the total number of confirmed cases is now 143,715."

NS: "660 of the new cases are in Greater Glasgow and Clyde, 389 in Lanarkshire, 357 in Lothian and 302 in Tayside. The remaining cases are across 9 other health board areas."

NS: "I can also confirm that 1,467 people are currently in hospital. That is an increase of 83 from yesterday."

So the Canadian government will soon be introducing legislation aimed at regulating platforms with respect to harmful speech, spearheaded by Heritage Minister Steven Guilbeault. I'm concerned b/c we haven't seen a lot of serious thought from the Gov on this. A thread:

Guilbeault has taken this on as part of a large digital regulatory agenda that also includes things like requiring Canadian content on streaming services, and potentially forcing intermediaries to pay for news (like Australia).

We don't know what form the legislation will take, but there's cause for concern that it's partially going to look a lot like the German NetzDG law, and require hate speech and other illegal speech to be taken down quickly. It will also include a new regulator to do...something

The concern comes from the PM's mandate letter to the Minister, which asked him to "create new regulations for social media platforms, starting with a requirement that all platforms remove illegal content, including hate speech, within 24 hours or face significant penalties."

I haven't seen anything to suggest Guilbeault has moved away from this. His office was quoted recently as saying "our approach will require online platforms to monitor and eliminate illegal content that appears on their platforms."

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While debt-to-GDP ratios already have a limited but very misunderstood use, it seems economists are finding bright new ways of misunderstanding them. Now we say that when nominal interest rates are lower than nominal growth rates, the

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downward pressure on the debt-to-GDP ratio makes rising government debt and larger government deficits more sustainable and more easily justified.

This is totally confused. When the nominal interest rate is lower than the nominal GDP growth rate, it only means that net...

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borrowers are getting a disproportionate share of growth relative to net lenders. This in and of itself changes the comparability of the debt-to-GDP ratio, so the fact that the ratio may decline tells us nothing about its sustainability which, I'm glad to say, isn't...

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a mistake Olivier Blanchard makes in this article.

At least three things matter. First, whether or not rising debt is sustainable depends almost wholly on underlying conditions in the real economy, and only trivially on the arithmetical relationship between...

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the interest rate and the growth rate. Second, this approach simply assumes away financial distress costs, in which case debt capacity is infinite anyway and the interest rate becomes irrelevant. And third, it assumes that the nominal debt level matters independently...