Mike Konczal (@rortybomb )

Mike Konczal

Bio @RooseveltInst director, Progressive Thought. Economics, finance, inequality. @TheNation @Dissentmag. Book FREEDOM FROM THE MARKET (1/12/2021 @thenewpress) 🍞🌹
Location DC/MD
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Account created 17-06-2009 21:56:28
ID 48132847

Twitter Web App : Nick Timiraos Ernie Tedeschi Well, CCF LLC is in H.4.1, just at $1.8 billion. :)

What I meant is more the second, if these things aren't moving money yet what are the chances they are going to, especially considering the facility fee?

Twitter Web App : Ernie Tedeschi Further afield, but how likely is it that P/SMCCF and MSLP get anywhere near high numbers? The H.4.1 numbers are not encouraging at this moment.

Twitter Web App : Ernie Tedeschi Got it. How are you counting that ~10% of GDP on the tertiary side? P/SMCCF has so far given out......$1.8 billion. Which is amazing in its own right.

Twitter Web App : Like to see this broken down more (the Fiscal Monitor doesnt do this) but heres the IMFs estimate of economic responses to the covid crisis.

USA has relied significantly less on loans, equity and business guarantees (e.g. payroll) than other countries.
blogs.imf.org/2020/05/20/tra…

Twitter Web App : tyson brody Public discussion on free college was always about tuition, but actual policy is about whether the feds can take over the funding streams from states who want to disinvest it. Now would be a good time for a free college agenda, it's actually a perfect macro-stablizaton policy!

Twitter Web App : tyson brody I think you'll see the states colleges suffer, maybe even in serious measures, and the flagships further privatize.

Twitter Web App : Brink Lindsey Weird how when socialism was popular (1944) he said "don't do socialism, do welfare states," then when socialism was out and welfare states were popular (1960) he said "welfare states are the new socialism," and then when welfare states were unpopular (1970s) he was hard right.

Twitter Web App : tyson brody "end of college, DIYU, etc." has always been about putting a techno-optimist pop gloss over the mass disinvestment in public higher education. Elite higher education will thrive, mass higher education will starve.

Twitter Web App : Arpit Gupta I think the problem with this approach is that in 1944 he's saying "don't do socialism, do welfare states" (in this citation) and then in 1960 CoL, with socialism out of western fashion and welfare states on the rise, he says "don't do welfare states."

Twitter Web App : Arpit Gupta I should reread, he attacks SS from multiple angles and is anti-NHS - not sure where he's on health insurance generally.

In Milton Friedman's 1994 intro to Road to Serfdom he says the Clinton health care proposal was proof that people haven't learned the lesson, so there's that!

Twitter Web App : Brink Lindsey Heres Hayek in CoL (1960). Obviously you and I (and him) will have different baselines for what social insurance entails, but its pretty clear hes soured on what most people understand the term welfare state to mean by the late 1950s, if he ever really wasnt.

Twitter Web App : Brink Lindsey Really? In CoL he's clear he's moving his attack from socialism to the welfare state, iirc he goes after social security (both concept and 1935 law), unemployment insurance, labor unions, NHS, progressive taxes, etc. His writing on social justice anticipates the "mirage" in LLL.

Twitter Web App : Matt Bruenig The Masked Singer Jesse Rothstein In previous years I'd be against EITC for being captured by employers; hike minimum wage instead. Rachel points out (and could have hit it harder) that Kleven also collapses that common argument, now cash all goes to workers. As such I'm trying to follow the new case against it.

Twitter Web App : Matt Bruenig Potato Bandito Jesse Rothstein Sure. But question is clear and still stands: is it wrong to increase low-end wages (through wage subsidies or minimum wage hikes) before a basic income is in place? Poor Max is defending this ground, and that the write-ups never mention MW hike as a replacement for EITC is odd.

Twitter Web App : Potato Bandito Matt Bruenig Jesse Rothstein I've gotten confused if the EITC is bad because it (a) provides nothing for those with no labor incomes, (b) phases-in, giving less to lower-labor income workers.

If (a) the same things could be said about increasing the minimum wage, which of course does nothing for unemployed.

Twitter Web App : Daniel Hemel Elizabeth Pancotti Are you against extending the ex-post unemployment insurance expansions that are set to expire at the end of July? This criticism seems to apply there as well on the first-order, if we replace "current employer" with "unemployment office."