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M.S. Bellows, Jr.
@msbellows
, 3 tweets, 2 min read Read on Twitter
Arthur Laffer drew the justification for Reagan's trickle-down economics on a cocktail napkin. Result: the public debt rose from 26% GDP in 1980 to 41% GDP by 1988. In dollar terms, the public debt rose from $712 billion in 1980 to $2.052 trillion in 1988.
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And Laffer's theory that reducing taxes would benefit everyone was... really, REALLY wrong. Look at how much wealth the uber-rich have hoarded (ie, that DIDN'T "trickle down") since Reagan's 1980s:
More data on how profoundly Laffer's theories sucked:
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M.S. Bellows, Jr.
@msbellows
The U.S. could just walk away and let the rest of the world deal with Iran to keep oil traffic moving. Japan, whose tanker was attacked, has the FOURTH STRONGEST MILITARY on Earth, ffs. This doesn't have to be our problem. Drunk at the bar has an issue w/ you? Just walk away.
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But THAT'S the rub: if we recognize that Iran's beef is with us, coolly walk away, and let our allies deal with Iran, then our allies will negotiate the deal THEY want, which is: end sanctions, return to the nuclear deal, undo Trump's vandalism of Obama's statesmanship.
2/
Trump won't let that happen. So if he goes to war, it won't be over a bombed tanker or a downed drone. It won't be a war against Iran at all, actually. It will be a war against our own allies, shutting down oil production and shipping in defense of Trumpian exceptionalism.
3/
Read 5 tweets
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M.S. Bellows, Jr.
@msbellows
Re-upping this thread on why Pelosi is right, because even brilliant folks like @tribelaw and @gtconway3d are missing the big picture:
@tribelaw @gtconway3d Also re-upping this for people frustrated that Dems are "letting" Hope Hicks testify in private/refuse to talk about her time in the WH. (Spoiler: it's a trap play: shakinthesouthland.com/2012/7/3/31308…)
@tribelaw @gtconway3d As I said: trap play.
Read 3 tweets
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M.S. Bellows, Jr.
@msbellows
This reminds me of my (GREAT) @UCDavisLaw professor @jcdobris' dry, Socratic Q when we covered Spur Ind. v Del E. Webb (en.m.wikipedia.org/wiki/Spur_Indu….), a nuisance case pitting a cattle feedlot against a retirement community...
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@UCDavisLaw @jcdobris Prof. Dobris, dryly, no hint of humor, to a room of 1Ls already scarred by his scathing (yet secretly kind) Socratic brilliance: "Who can tell me what the two parties have in common? Mr. Bellows? No? Anyone? What characteristic do a stockyard and a retirement community share?
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@UCDavisLaw @jcdobris (Think "Anyone? Bueller? Anyone?" but delivered by John Houseman's character from "Paper Chase.)

Looong silence. Finally, with the tiniest, TINIEST sly smile, Dobris, dryly:

"They both are the business of warehousing animals that are about to die."

Whole class: slain. Ded.
3/
Read 5 tweets

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Matt Blair
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I'll say again that I don't think conservatives are stupid. Yes, there are stupid conservatives, but stupidity isn't what the conservative movement has surrendered itself to. It's surrendered itself to resentment and fear.
Conservative policies don't tend to be popular among the public, because they tend to screw the public. The powerful people who aim to implement such policies have tended to depend on aspirational voting and bullshit like trickle-down economics to get into power.
In America, there was a certain innocence to this as recently as Romney in 2012. The politics were divisive and the catering to white resentment was palpable, but there were still certainly cards you simply didn't play in polite company.
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Since 2011, AMCON has bought toxic loans worth N5 Trillion (4% of GDP) off banks. Most of these loans were taken during the period Nigeria was supposedly enjoying "economic growth".

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So I watched Athiefku’s spokesman performance claiming enormous economic benefits from 16 years of @OfficialPDPNig misrule of Nigeria. Lets use this thread to clear the air on some things...@OfficialAPCNg @GMBSupport @ogundamisi @toluogunlesi #TrackrecordAtiku
1. There is this persistent bogus claim that OBJoke gave Nigeria GSM and the new economy alongside the jobs that came with it. This is a lie. GSM licensing round was started by Abacha. A revolution was ongoing around the world. It was going to happen anyway. #TrackrecordAtiku
2. Now, what that government did well, was focusing on announcing Nigeria’s arrival at the global scene. For this, the first term was a travel term for Obasanjo. We remember those foreign trips he was criticized for and for which he delivered debt forgiveness.Did Athiefku travel?
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