What does a BIDEN Presidency look like?

[FunkMonk]

And I think there's been a transformation in mainstream economic thinking on this - I think that the dominant ideas are now the left. Adam Tooze did a fascinating sort of intellectual history of Yellen, Krugman and Draghi from their perspectives in the 80s and 90s to now, and I think they are sort of emblematic of the priestly profession of economics.

I read the Tooze article in the LRB yesterday and I thought it was fascinating and extremely on-point for the times. He included Jerome Powell, a Republican, as well. Interesting times.

[Habbaku]

My view is that the signal from the market is: spend, and that frankly helping through the pandemic and then the energy transition are basically like wartime. The only thing big enough to act on these things is the state. I keep on coming back to it but look at these hundreds of millions of vaccines being given now - that would happen without the state backing the research massively and then basically entirely de-risking huge chunks of the manufacturing. We should be learning from this and thinking how we can apply it to energy (obviously having said that - it's easier to say from the UK where fossil fuel production is not a big political issue anymore thanks to Maggie and what we do is arguably almost a side-show to the changes China will make).

This, exactly, especially the market signals to spend. If done correctly or even 70% correctly, spending immense amounts at a time when money is essentially free of long-term costs can fix things for decades to come. I am glad that Biden seems to understand that, even if some of the areas of spending are different from what I'd choose. I also think Biden's spending package is far less graft-heavy and corrupt than Trump's, and that shouldn't really surprise anyone.

[Sheilbh]

And I think there's been a transformation in mainstream economic thinking on this - I think that the dominant ideas are now the left. Adam Tooze did a fascinating sort of intellectual history of Yellen, Krugman and Draghi from their perspectives in the 80s and 90s to now, and I think they are sort of emblematic of the priestly profession of economics.

I read the Tooze article in the LRB yesterday and I thought it was fascinating and extremely on-point for the times. He included Jerome Powell, a Republican, as well. Interesting times.

I'm one of those men on the internet with an intellectual crush on Tooze

I love Crashed - am very excited by his upcoming book on the pandemic - and will read his books on the post-WW1 and the German economy in WW2. I have them both on my to read list.

[garbon]

He is absolutely NOT succumbing to the demands from the <insert word other then woke to describe exactly what we all know that word describes in this context> crowd to make a bunch of dumbass speeches about defunding the police or abolishing cops or cancelling anyone.

Not succumbing to black people?

Yes, that's right. That is the only possible thing that anything can be about. It's all about you, always.

You misuse a term, when I tell you that's hurtful, you then double down on it. I guess the other option is that you are just a dick?

[Eddie Teach]

Hurtful?

[garbon]

Hurtful?

You may have missed that in my wall of text.

[crazy canuck]

I tried to tell you guys he was awesome when the primaries started.

You did, and I thought you were crazy.

But it turns out he is exactly the right person, in the right place at the right time.  The right just cannot find a way to target him.  They can't find a way to transition from Sleepy Joe.  And Sleepy Joe is the most transformative president is a very long time.

[crazy canuck]

And I think there's been a transformation in mainstream economic thinking on this - I think that the dominant ideas are now the left. Adam Tooze did a fascinating sort of intellectual history of Yellen, Krugman and Draghi from their perspectives in the 80s and 90s to now, and I think they are sort of emblematic of the priestly profession of economics.

I read the Tooze article in the LRB yesterday and I thought it was fascinating and extremely on-point for the times. He included Jerome Powell, a Republican, as well. Interesting times.

I have been meaning to subscribe to that.  This is exactly the prompt I need.   

[Barrister]

As a loud and proud budget hawk, I no longer give a shit about what most other budget hawks think because most of them were/are clueless Trumpists.

If we're going to quibble about spending, it's not at a time when interest rates are at historic lows and the economy is facing a generational challenge of a pandemic.

But we're well past the pandemic relief bill.

What's being proposed now is trillions in new, ongoing spending.

[crazy canuck]

As a loud and proud budget hawk, I no longer give a shit about what most other budget hawks think because most of them were/are clueless Trumpists.

If we're going to quibble about spending, it's not at a time when interest rates are at historic lows and the economy is facing a generational challenge of a pandemic.

But we're well past the pandemic relief bill.

What's being proposed now is trillions in new, ongoing spending.

Sure, but look at the situation years of trickle down economic thinking has created that now needs to be addressed.   

[PDH]

Hurtful?

Why question when someone says it is hurtful?  Isn't that like the stereotypical man saying "No I'm not" when the wife says "you are hurting me!"

[Berkut]

He is absolutely NOT succumbing to the demands from the <insert word other then woke to describe exactly what we all know that word describes in this context> crowd to make a bunch of dumbass speeches about defunding the police or abolishing cops or cancelling anyone.

Not succumbing to black people?

Yes, that's right. That is the only possible thing that anything can be about. It's all about you, always.

You misuse a term, when I tell you that's hurtful, you then double down on it. I guess the other option is that you are just a dick?

I did not use the term, as I stated time and again. You are not even the least bit hurt, and are happy to repeat over and over and over again that I must be a racist if I don't agree with you.

Frankly, I really could not fucking care less if you pretend to be "hurt" while you accuse me of being a closet GOP racist every fucking time a conversation comes up that I don't align with your views, even when it is a subject that I don't even consider to be ABOUT those views. It's exhausting, and I am done.

[Valmy]

But we're well past the pandemic relief bill.

What's being proposed now is trillions in new, ongoing spending.

Necessary. Especially with regard to infrastructure.

I wish I had a magic wand to wave away all the challenges we are facing but unfortunately we have to pay the price.

[Barrister]

As a loud and proud budget hawk, I no longer give a shit about what most other budget hawks think because most of them were/are clueless Trumpists.

If we're going to quibble about spending, it's not at a time when interest rates are at historic lows and the economy is facing a generational challenge of a pandemic.

The choices right now seem to be between those who want to run up massive deficits buying military hardware and cutting taxes for the ultra wealthy, and those who want to run up massive deficits on badly overdue social spending and infrastructure.

It's an easy choice for me.

When it comes time to vote you can lecture me about it being a "binary choice".

But not when it comes to a general discussion about what public policy choices I want to see implemented.

[Barrister]

But we're well past the pandemic relief bill.

What's being proposed now is trillions in new, ongoing spending.

Necessary. Especially with regard to infrastructure.

I wish I had a magic wand to wave away all the challenges we are facing but unfortunately we have to pay the price.

Only a small percentage of the infrastructure bill goes to what would ordinarily be considered infrastructure.

And that's the thing - you're NOT paying the price.  It's all going on the national debt.