You have to be a primitive idiot to be more horrified by this than pictures from the slaughterhouse.

This is absolutely insane…

This is Jared Bernstein. Chair of the Council of Economic Advisers.

He advises Biden on economic policy.

CITE US, COWARDS!

Why does anyone believe A Future Made in Australia will be any better than The Past Made in Australia, which everyone agrees was absolutely terrible? We learned some very hard lessons and eventually came to accept that our prosperity lied in focusing on our comparative advantage.

Here's what the literature found. US firms bore the basically the full burden of the tariffs not China, retailers ate a big chunk in profits & raised prices (even with import front running to blunt impact), retaliation and $ apprec hurt exports.
twitter.com/oren_cass/stat…

Retail sales number looks grim, but is largely a continuation of the unwind of Covid-era excess:

due to quantum effects a company can be based in america but still made in australia

I'm tracking a new inflation measure I call 'CPI excluding food; alcohol and tobacco; clothing; housing; furnishings; health; transport; communication; recreation; education; insurance and financial services.'

Currently running at 0% year-on-year

I hate everything about this.

afr.com/technology/lab…

Phone just autocorrected untenured to indentured

Macaw

Fish and chips tonight!

If I had known earlier that this was possible it would have been over so much sooner

Interesting slides at the link based on a forthcoming paper incorporating asset prices into an optimal tax framework to determine the optimal capital gains tax regime. Surprisingly, a combination of dividend and CG tax upon realization (and not accrual) is said to be optimal.

engaging seriously with any australian policy discourse is a mistake. the stakes are low, the chat is abysmal. time spent discussing negative gearing with 35yo sports gambling addicts in sharehousing is time you could be talking to hindu nationalists about evaporating karachi

What is worth billions of dollars to a CCP dominated company?

Not providing the US with a roadmap of how TikTok has been used to surveil and influence Americans.

My piece in today's Financial Review explaining why negative gearing is neither a tax concession nor particularly impactful on house prices. Eliminating it would be an unprincipled hack that would distract from the fundamental tax reform we actually need.

afr.com/politics/feder…

Let me tell you it is pretty funny to be a literal expert in something, and to be incorrectly community noted with a false premise (negative gearing is a tax concession—it is not!), and sources that demonstrate a deficient understanding of the thing you tweeted about.