Serial entrepreneur, progressive sometime 1%er (tax me more!). National accounting & econ geek. Evolution and Shakespeare dweeb. Besotted father. From MO; show me the #s.
Seize the wealth and income.
https://wealtheconomics.substack.com/about
The SCOTUS immunity decision is this simple:
https://drafts.interfluidity.com/2024/07/03/no-longer-a-liberal-democracy/index.html
1. "If a President orders the armed forces to shoot at protesters, it would still be an unlawful order. But Trump would enjoy absolute, unreviewable immunity for giving it."
2. "It would still be unlawful for his subordinates to act upon the order. But Trump could promise to pardon subordinates who act. He could fire subordinates who refuse."
The key diff between Liberals and Conservatives?
Cons think (and act as if) we're always in single-round Prisoner's Dilemma games.
Libs think it’s multi-round, endless.
The Cons’ game forces everyone to act as if they’re right.
Cooperation can’t emerge. Takes two…
New post up at Wealth Economics.
Ten Fundamental Economic (Mis)understandings
It's all about the words…
https://open.substack.com/pub/wealtheconomics/p/ten-fundamental-economic-misunderstandings
As a devout atheist, I’m a Very Big Fan of the Beatitudes of Jesus (Matthew 5:3-12, Luke 6:20-26).
Which makes me wonder why self-styled "christians" are so steamin' hot 'n bothered to put the OLD testament Ten Commandments in schools.
https://en.wikipedia.org/wiki/Beatitudes
HT @paulwaldman.bsky.social
New post at Wealth Economics:
The “Wealth Effect” on Spending from Stock-Market Price Runups
A 1% increase in wealth increases spending, GDP, by about 0.2% over the next year. And the next...
This gets amazingly little attention:
In the greatest "real-world" global supply and production shutdown "shock" since...ever? U.S. households' equity wealth … ~doubled.
Explain.
(Those equity assets are 87% held by the top-10% of wealthholders, top 20% of income recipients.)
In 2023 for the first time, new billionaires got more of their wealth from inheritance than from property income. (Labor income, feh. That's for suckers.)
The US was founded in large part to end hereditary aristocracies w/ all the wealth & power.
Then: Reaganomics.
Steve Randy Waldman
