Imports are a Benefit & Exports are a Cost Stephanie Kelton Susan Borden Here is the John Yarmuth 🥃 CSPAN interview which I posted with his office’s permission on Medium: medium.com/@KellyGerling/…

The man at the door with a gun

Doubtful Gore would accept this but REGO led to the twin epidemics of appraisal fraud and liar’s loans under Bush II.

Saying trade deficits reduce funds for investment is way off in la la land IMHO

Idiots: MMT people are blah blah a bunch of big govt (insert pejorative) hippies Mosler MMT person: I support eliminating the payroll and corporate taxes. Zero tariffs. Zero Interest rates. Competitive markets. Idiots: Zimbabwezuelagahistan!

Trump II: Crazy tariffs, no due process for undoc’d, unlimited Greater Israel, relative austerity for working people, tax cuts and privileges and immunities for rich people, rule by decree, no DEI, expand our borders, trans ban, attack the Cartels, Bomb Houthis, Crypto, etc

The Fed ain’t Congress and Full Employment and Price Stability are all that matter in the first place. ZIRP would reduce $20 trillion in interest spending/10 yrs and somehow people think that would be inflationary. See Warren B. Mosler for a briefing on MMT Mark Cuban

Tariffs have a “show me your papers” additional cost.

One of most ridiculous kerfuffles I’ve seen on this site in some time.

I, for one, think that so long as Dementia Don doesn’t make the tariffs worse we will continue the expansion but at low levels of real growth & w/ relative austerity continuing to punish working people. So a lot of people pissed off but no macro constraint by way of averaging.

The Big Beautiful Bill is not Deficit Terrorism although it does punish working people w/ more Relative Austerity. They are being Fiscal Perverts in that they are using fiscal power not for public purpose but perverse purposes that serve special interests.

Tax cuts but for actual working people.

F the Tariffs.

In the war on cancer, Trump sides with cancer.

The guy that predicted recession in 23 bc of the rate hikes and that tariffs would induce dollar appreciation and lower yields is Keen’s new hero. :( 🤦

Wage earners are like approved, restricted buyers of tax credits ($) sold by their employers for their labor subject to contract restrictions.

What happens to inflation when interest rates go up? Economists generally agree it falls Neil White points out a price puzzle - in both the data and our models, inflation goes up after interest rate hikes. Either intuition is wrong or data and models are. From John Cochrane

The Chinese are so nice. I got a new pool filter housing unit and they included extra peripheral parts and even a new filter. None of which was listed as part of the deal. When in America do you get something you need that you didn’t ask or pay for?