Don’t Mention Politics
All eyes turned to the Fed Wednesday.
That's what I was supposed to write. In reality, the April FOMC was a placeholder -- "nothing to see here" in the truest sense of the phrase. There was something to hear here, though. Jerome Powell subjected himself to the usual post-meeting interrogation. Remember: It was his idea to do the pressers after every meeting.
Although nobody managed to extract a verbal misstep, someone did ask about the tent cities. And about house prices, which are probably a
Who’s going to argue? The GOP who suddenly cares about how we’re going to pay for things. They are going to get on their propaganda machine and spin tails about how all of this spending is devaluing your dollars and creating inflation and how your grandchildren won’t be able to afford hamburgers because Joe Biden hates them. Rinse, repeat, that has been politics in the US for 20 years.
+1
I have a better idea. Send all the money to me, I’ll invest it and everyone else will be better off.
I wonder how much of this will come back to the federal government in subsequent taxation. After all it seems to me if you give a tax credit for families they spend it on the family, with most of that money spent in the local economy much of it will come back to the federal government in subsequent taxation.
It seems to me somewhat less will come back from free kindergarten or free community college. However who’s to know at my level, will those community college students be saving their money for the next two years of college or will they be spending it at the local bar.
To make this sort of policy sustainable I think it is necessary that economists study this question and determine the true cost of this plan to the treasury versus McConnell’s tax cut plans.
This pendulum is swinging with a lot of momentum… You can change the momentum and speed but the moment arm is not elastic (as we speak). The return motion likely starts with equal vigor and perhaps around the mid term Election cycle . The MMT’ers have been silent because as H … says ‘ it is reality ‘.. Proof of the pudding is ,however in the Eating. Too many people on the same side of the boat ( me included ), but carefully and selectively.