@rbreich I refuse to click any twitter links. Musk led mobs against people like Fauci, Roth and Paul Pelosi. He sicced mobs on innocent transgendered people icymi. Zero sympathy for the journalists or academics who ignored all those bright lines just to get ego strokes. It’s a far right megaphone. That’s all it is now. They should have left weeks ago.

@rbreich And, interestingly, such rate hikes never “trickle down” to bank savings and checking account which are still accruing interest at something like 0.0025%! Banks take deposits from consumers, pay them little to hold the mmo ey, then lend it out at 7%. Great deal for the banks, but fucks the little guy!

@rbreich Agree the Child care credit expansion needs to be revisited but I would like to understand the work requirement such that chronic non working parents, or those working under the table can't milk this benefit.

@rbreich
They must have needed 45 new toilet seats.

@rbreich Who pays for all that war spending? You guessed it

@rbreich that’s true, but they insist on making that magic 2% number. What I don’t understand is the year over year inflation number will drop dramatically at some point. When we find out, the fed rate will have gone too far.

@rbreich
Same disaster happening in Australia

I recommend a break in rate hikes for a few months. The monthly annualized inflation rate has now dropped six months in a row.

@rbreich. What about increasing skilled immigration as a way to fill jobs that have to much completion for talent? I’m afraid that since Fed policy didn’t cause inflation (Covid supply chain issues and the great resignation more too blame) that a fed solution won’t get us to 2% without tanking the economy and spiraling unemployment.