https://t.co/mgWQbsFQGN
1/Today's @bopinion post is about Trump's taxes, and what they show about how America allocates capital.
We appear to have some big problems.
https://t.co/mgWQbsFQGN
Why would creditors give money to a guy who wastes the money on bad businesses and doesn't even pay them back?
Why hasn't an abundance of cheap capital caused the return on financial capital to fall? Interest rates are low, but stock returns have held up strongly.
When you increase the supply of loanable funds, prices are supposed to go down. In other words, cheap capital should fund a lot of marginal businesses that compete away profits...
Simcha Barkai and Matt Rognlie have both written about this:
1. https://t.co/OLln8npr8b
2. https://t.co/BY1EWyluD7
https://t.co/xNzE9SO8nY
https://t.co/BY1EWyluD7
And it doesn't really explain Trump, does it? He's not a monopolist, and he doesn't even make profit. He's just a huckster who can borrow cheaply because he's famous.
Financiers are willing to throw tons of cheap money at big powerful companies or at famous hucksters like Trump, but charge inordinate prices to fund new entrants or marginal businesses.
We need to figure out what's going wrong, and fix it!
(end)
https://t.co/dHVCEQGa9q
More from Noah Smith 🐇
This is so dumb and incorrect and wrong it's unbelievable.
Facts.
Facts!!
FACTS FACTS
Moar
Secretary of State Mike Pompeo said the U.S. is quickly approaching \u201ca moment of crisis\u201d because of the \u201crecord number of migrants\u201d spilling into the country https://t.co/QuiWPcXswA
— POLITICO (@politico) October 20, 2018
Facts.
Facts!!
FACTS FACTS
Moar
To be honest, I think this is just the effect of Twitter.
If you're on Twitter all the time - as every political commentator now is - it's easy to think that whiny, big-talking Twitter slacktivists are "the Dems".
But what's happening out there on the ground?
This is another reason I think Twitter is so bad for society.
It convinces intellectuals and commentators that practically everyone who's on their side is an extremist.
Which makes them tolerate extremism out of a (false) feeling of necessity.
If you stay on Twitter too much (which we all do now), you start to think that the typical left-of-center person is some British wanker who quote-tweets "Imagine thinking this" to anyone who doesn't like the idea of "ending capitalism".
But he is not typical.
A majority of Americans are not on Twitter.
But *every* journalist, commentator, and intellectual *has* to be on Twitter.
So every journalist, commentator, and intellectual comes face to face with big-talking slacktivist faux-extremists day in and day out.
It's a problem!!
Online bubbles full of shouty faux-extremists are, in general, fine.
The difference is that every journalist, commentator, and intellectual is essentially forced to exist in THIS bubble, because their jobs require it.
Twitter is a dystopian technology.
(end)
If you're on Twitter all the time - as every political commentator now is - it's easy to think that whiny, big-talking Twitter slacktivists are "the Dems".
But what's happening out there on the ground?
— VeryHiddenGeniusHat (@Popehat) October 18, 2018
This is another reason I think Twitter is so bad for society.
It convinces intellectuals and commentators that practically everyone who's on their side is an extremist.
Which makes them tolerate extremism out of a (false) feeling of necessity.
If you stay on Twitter too much (which we all do now), you start to think that the typical left-of-center person is some British wanker who quote-tweets "Imagine thinking this" to anyone who doesn't like the idea of "ending capitalism".
But he is not typical.
A majority of Americans are not on Twitter.
But *every* journalist, commentator, and intellectual *has* to be on Twitter.
So every journalist, commentator, and intellectual comes face to face with big-talking slacktivist faux-extremists day in and day out.
It's a problem!!
Online bubbles full of shouty faux-extremists are, in general, fine.
The difference is that every journalist, commentator, and intellectual is essentially forced to exist in THIS bubble, because their jobs require it.
Twitter is a dystopian technology.
(end)
More from Trump
To those who want to actually help Claudia Conway after her mom (Kellyanne Conway, Trump’s former aide) posted her underage daughter’s nudes to Fleets, fill out a report on the NCMEC CyberTipline.
CPS refused to help her.
#HelpClaudia
Kellyanne Conway has a well-documented history of verbally abusing, gaslighting, and threatening her daughter. It gets worse when highly public things go viral (such as exposing the truth about Trump and Conway catching COVID-19 last October). Kellyanne coerces false statements.
Insider did a thorough chronological background of the history of exposing her parents abuse and control of her here: https://t.co/ncjaEyLOSC
We all know that “statement” last year was coerced. She talks constantly about being abused by them.
Personally? I suspect Kellyanne is a narcissist. From my own experience being sexually and emotionally abused by a narcissist, they are obsessed with controlling the narrative (coerced typed statement), discrediting their victim (posting her nudes) & gaslighting
If you haven’t experienced gaslighting or aren’t familiar with it, it’s when someone causing you harm (physical, emotional, sexual, financial, etc) twists the facts and asserts that reality is just you being delusional and you don’t actually understand what happened.
CPS refused to help her.
#HelpClaudia
Kellyanne Conway has a well-documented history of verbally abusing, gaslighting, and threatening her daughter. It gets worse when highly public things go viral (such as exposing the truth about Trump and Conway catching COVID-19 last October). Kellyanne coerces false statements.
Insider did a thorough chronological background of the history of exposing her parents abuse and control of her here: https://t.co/ncjaEyLOSC
We all know that “statement” last year was coerced. She talks constantly about being abused by them.
Personally? I suspect Kellyanne is a narcissist. From my own experience being sexually and emotionally abused by a narcissist, they are obsessed with controlling the narrative (coerced typed statement), discrediting their victim (posting her nudes) & gaslighting
If you haven’t experienced gaslighting or aren’t familiar with it, it’s when someone causing you harm (physical, emotional, sexual, financial, etc) twists the facts and asserts that reality is just you being delusional and you don’t actually understand what happened.
Agree. Also Bannon suggesting that Fauci shld be beheaded & Lyn Wood calling for Pence’s execution. These are Trump’s close advisors. Did Trump ever publicly disavow?
Very good that Rep Raskin is showing the long, consistent history of Trump instigating violence. This context is necessary. They should extend documentation to Trump's advisors -- like Roger Stone calling for a "bloodbath" since 2016 if Trump loses an election #ImpeachmentTrial
— Sarah Kendzior (@sarahkendzior) February 11, 2021
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A thread 🧵
1) Learn Anything - Search tools for knowledge discovery that helps you understand any topic through the most efficient
2) Grad Speeches - Discover the best commencement speeches.
This website is made by me
3) What does the Internet Think - Find out what the internet thinks about anything
4) https://t.co/vuhT6jVItx - Send notes that will self-destruct after being read.