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wfrost

@wfrost.bsky.social

Sound Money Socialist, Montessorian, and Rortystan

7735 Posts1003 Follower1003 Folgt
wfrost@wfrost.bsky.social · 3h ago

Agree that Warsh seems to be laying to groundwork to lower rates into potential supply growth. If so, that decision would confiscate the potential surplus from households and give it back to producers via lower-cost dollars. (Trickle down economics) Let the surplus market express!

Michael Santoli@michaelsantoli.bsky.social · last wk.

Fed Chair Warsh has invoked a tech-productivity miracle as cover to keep rates low, invoking the '90s Greenspan era. Yet much more than tech drove the '90s disinflationary boom: Fiscal conditions, demographics and globalization all helped. These are all pushing the other direction now. New column.

Matt Darling@besttrousers.bsky.social · 8h ago

I hadn't caught this, but the percent of the population who says "higher prices" are the reason their household finances declined in the last year hit the *all time* high in the UMichigan Sentiment data.

Bild
wfrost@wfrost.bsky.social · 2d ago

More than 37% of Americans could not cover this expense (after insurance!) with cash (or equivalent). Thats just atrocious given the country’s staggering wealth.

Too Big to Fail@toobigtofail.bsky.social · 2d ago

I realize the Europeans have largely gone to bed, but: I got bitten by a dog yesterday and had a bad reaction to it and ended up throwing up all night last night. My wife made me go to the emergency room; I've gotten IV fluids and an abdominal ultrasound. This is what I had to pay. I have insurance.

$3,894.00
George Pearkes@peark.es · 5d ago

A 100% tax on all IRA income (capital gains or ordinary income) above $10mm (or some similar amount, indexed to inflation) balance with contributions also capped at that amount is trivially easy to write into law.

Aaron Sojourner@aaronsojourner.org · 5d ago

"The bill would effectively cap IRAs and 401(k)s at $10 million, a sum far beyond the basic retirement needs of most Americans." Could lower taxes on working Americans or afford more public services. www.usatoday.com/story/money/...

A new bill in Congress would crack down on wealthy Americans who use 401(k) retirement accounts and IRAs as tax shelters for billions of dollars in wealth. The 401(k) and IRA were designed to offer tax breaks to help Americans save enough money for a comfortable retirement. At a certain point, however, a swelling retirement account isn’t really about retirement
wfrost@wfrost.bsky.social · 5d ago

One potentially under appreciated part of the Mamdani grocery idea is in how a stroe can operate differently without a profit motive. On the surface, groceries are a terrible candidate for public competition because margins are razor thin. But what if profits are preventing operating efficiency?