Vacuous Shell Game

Vacuous Shell Game

The Fed takes center stage this week, and it's probably not a stretch to suggest that Jerome Powell and his colleagues are at least somewhat pleased at the prospect of a unified Democratic government. While Joe Biden's stimulus plan still faces an uphill battle, Democratic control of the Senate obviously helps. Had Mitch McConnell retained his grip, getting another large proposal through the legislative process would have been impossible. Bringing recalcitrant GOP lawmakers onboard won't be ea
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4 thoughts on “Vacuous Shell Game

  1. A pretty succinct summary of what we face. Biden is charged with first stabilizing the existing system and fighting a public health crisis in his first 12 months. The latest package is best described as a bridge to help the population get to the other side of the virus. Real stimulus awaits infrastructure, education aid/reform, climate change intiatives and a whole host of other changes. The USA lost 4 years to address these challenges.

    1. “The USA lost 4 years to address these challenges.”

      I agree but I place the number at most of the years since the second Gulf War. We stopped actively taking care of ourselves as a nation about then. While some would consider ACA to be an exception to this whole in our progress as a nation, overall it got pretty well offset.

  2. …chart “Midlife Crisis” from figure 2.1, page 30 of the hardcover edition.

    I reserve the word haunting to describe the effect that the book “Coming Apart” has on me, still, to this day.

    I was just looking up synonyms to haunting to try to find the word that describes the effect “Deaths of Despair” has on me. On my first reading, I stared at Figure 2.2. I was just staring at figure 2.2 again. “Deaths of Despair” is unlike any other non-fiction book I’ve read in the last 10 years. I don’t have the word to describe it.

    For casual readers just passing through, be sure to take a look again at the scale on the “Midlife Crisis” chart. The mortality rate is not a smudge between 250 and 300 that could be explained by a guest on a Hoover Institution Youtube interview. The mortality of non-White Hispanics is about 170% of what it reasonably should be.

    This is a Titanic demographic insight ignored in the media, and in both the Democratic and Republican establishments. There are no edge reforms to regulation, taxes, or benefits, that turn this trend. The solution is a change in our economic system. In the meantime, is this allowed to happen, and this is extraordinarily cynical, even for me, because this is how we deal with surplus labor in the American system?

  3. If we’re going to rebuild the economy with better paying jobs, that will require people educated with new skills and a broader base of knowledge. So, starting with young children we’re going to have to start stressing the importance of applying themselves and acquiring the education necessary to get one of the well paying jobs. Or we won’t put much of a dent in the ‘deaths of despair’.

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