and I love the textures you paint. It’s multiple modality media encoded in ASCII.
But your revolutionary notions – and it is revolutionary – that “Duty of Care” is afforded proper compensation – is a light year even beyond.
“Had our policy recommendation been adopted, stockholders and debt holders (who have a higher propensity to save) would have experienced greater losses than they did, whereas lower- and middle-income households (which have a higher propensity to consume) would have experienced relief from their mortgage debt. This shift in the burden of adjustment would have imposed losses on the people who were responsible for the calamity, stimulated aggregate demand, and diminished the rising inequality that was demoralising the vast majority of people.”
Indeed and true. I don’t entirely blame Obama for the solution: it was a great emergency and he put forth a top-down solution (or top-only) that did help improve much. But it was a literal band-aid on a broken bone and with a mere flex, a compound fracture will come upon market crash once the vapors of MAGA float away.
Trump’s riding the same wave and the rats on top are grabbing every last govt penny to store offshore for their own family dynasties. When the bubble breaks – and I hope it’s soon – the true austerity remains and we can start rebuilding.
ikr? Dude’s not 1/2 as bright as he gets people to think. I’m glad the Fed’s there, one of the very few actually rational things left that’s running anymore.
Thing is, so many of his picks were just more Georgetown Preparatory School grads. But unlike Kavanaugh, Gregory Powell ACTUALLY knows how things work.