"It is easy to confuse what is with what ought to be, especially when what is has worked out in your favor."
- Tyrion Lannister

"Lannister. Baratheon. Stark. Tyrell. They're all just spokes on a wheel. This one's on top, then that's ones on top and on and on it spins, crushing those on the ground. I'm not going to stop the wheel. I'm going to break the wheel."

- Daenerys Targaryen


"The Lord of Light wants his enemies burned. The Drowned God wants them drowned. Why are all the gods such vicious cunts? Where's the God of Tits and Wine?"

- Tyrion Lannister


"The common people pray for rain, healthy children, and a summer that never ends. It is no matter to them if the high lords play their game of thrones, so long as they are left in peace. They never are."

- Jorah Mormont


"These bad people are what I'm good at. Out talking them. Out thinking them."

- Tyrion Lannister


"What happened? I think fundamentals were trumped by mechanics and, to a lesser extent, by demographics."

- Michael Barone

"If you want to know what God thinks of money, just look at the people he gave it to."
- Dorothy Parker

Thursday, August 18, 2016

Van Jones on Hillary's challenges

Van Jones on the staggering political challenges Hillary Clinton would face as president

Infrastructure, Cassidy and Krugman

AN INFRASTRUCTURE PROPOSAL THAT GOES BEYOND CLINTON AND TRUMP by John Cassidy

Wisdom, Courage and the Economy by Krugman
Now, I’m not saying that we shouldn’t try. I’d argue, in particular, for substantially more infrastructure spending than Mrs. Clinton is currently proposing, and more borrowing to pay for it. This might significantly boost growth....

Wednesday, August 17, 2016

Beckworth and Bernstein comment on Williams's NGDP targettting comments

The dollar’s makin’ me holler, and other tales of the macro muddle by Jared Bernstein

Nominal Demand Ain't What It Used to Be by David Beckworth

Trump voters and economic anxiety, Kwak and DeLong

That “Massive New Study” Says Nothing About Economic Anxiety by James Kwak

Must-Read: Martin Sandbu: Trump Supporters on the Couch:
by DeLong
Economic anxiety can make voters more prone to racial resentment... 
It is, of course, an old trope in social thinking that economic pressure makes it easier to wind masses up against a scapegoated group perceived as “other”. Conversely, times of widespread and rising prosperity are good for liberalism and tolerance. Brad DeLong is quite right that this is a good time to pick up Ben Friedman’s prescient pre-crisis work on the moral consequences of economic growth.... 
Racial status anxiety and economic anxiety can be one and the same phenomenon, insofar as the economic pressure is perceived as affecting a particular social group. Much is said, all correct, about how the American white working class, and Trump supporters in particular, are well off compared with minorities and the real poor. But over the past generation, the trajectory of the white working class has no doubt changed the most for the worse, compared with the previous generation. 
That is true in material, indeed plain physical, terms: while black mortality rates remain higher than those of whites, it’s only for the white working class that the secular mortality decline has gone into reverse. And it is surely true that, as a result, the relative social status of working-class whites has fallen noticeably. That reflects a sharpening of class difference with widening inequality and an unequivocally welcome reduction in racial status difference. 
All told, that is a story of tremendous progress. But there is no need to dismiss the economic roots of the racial backlash we now see...