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Matthew Chapman
@fawfulfan
, 3 tweets, 1 min read Read on Twitter
I'm with Sirota on this one. @GlennKessler's logic here — that it's "not meaningful" that the bottom 50% of earners have no net worth because they have a bunch of debt that's obscuring all the assets they *do* have — is a completely nonsensical take.
Kessler's argument here is basically that if you just discount all the debt poor people have, they're basically rich.

Yeah, and if you discount all the people Jeffrey Dahmer ate, he wasn't that bad a guy.
Yes. Poor people often have a lot of "assets" that they went into debt to acquire, and the balance sheet doesn't reflect that.

Kessler seems to think that makes Bernie's point irrelevant. I don't. In fact I think it's Kessler who is making distinctions that aren't meaningful.
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Matthew Chapman
@fawfulfan
THREAD:

1/ A lot of people have asked how white, rural areas turned against Democrats so sharply over the course of a few election cycles.

There's an answer that's been staring us in the face the whole time: it's a generational issue.

Let me explain.
2/ The reason Dems used to perform well in rural areas is the Greatest Generation — the voters who came of age in the Depression and saw FDR save farmers from economic annihilation. They carried with them the memory that they owe their communities and livelihoods to Democrats.
3/ But the last of these voters have now been dying off in recent years, to be replaced with Silents and Boomers — whose formative political years were marked by the Democratic Party fracturing over civil rights and Republicans busting the Solid South wide open in culture war.
Read 10 tweets
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Matthew Chapman
@fawfulfan
This is a very dumb analogy. The American revolutionaries were resisting political and economic subjugation by the British. Central American migrants are fleeing poverty and gang violence caused by U.S. policies.

So by your logic, Central America should declare war on...us?
Also, the American revolutionaries were mostly wealthy landowners and the people they could rally to their cause, with an assist from the French government. Even if declaring war is the answer here, and they have someone to declare war on, declaring war is freaking expensive.
So yeah. It's clear you don't understand either the Revolutionary War OR the Central American migrant crisis. But thanks for playing.
Read 3 tweets
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Matthew Chapman
@fawfulfan
Dude, I *never* said anything like that when I was 16. In texts or anywhere else.

Did you behave like this when you were his age? Did your friends? Because most of us absolutely did not.
Now @benshapiro, if you want to argue Kashuv wasn't given a fair chance to rehabilitate himself, and debate how society determines who gets second chances, for what, in what form, and how economic background and race all play into it, that's a conversation worth having. And...
...if you want to argue that Kashuv didn't behave the way he did in a vacuum and we should critically examine the family and social structures that brought him up to think it was okay to spew the N-word for shock value, that is also a conversation worth having. But...
Read 4 tweets

Related threads

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Jennifer Taub
@jentaub
🇺🇸Here we go. Night 2 of the Democratic Candidates Debate.

1/
Our first moderators are Lester Holt, Savannah Guthrie, and Jose Diaz-Balart

2/
First question to Sanders. Will taxes go up for the middle class to support your programs?

Sanders says, "Health care in my view is a human right." Said people will pay less for healthcare under his Medicare for All plan.

Will eliminate student debt by taxing Wall Street

3/
Read 82 tweets
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Fuhrer Batman.
@kedar_kulkarni_
Here's my take on Indian largest bankrupt companies from the past and probably in the future:

2017:
1. @stayzilla
Reason for Bankruptcy/Shutdown:
• lack of local network effect.
• inability to expand quickly.
• High cost, low revenue.

Current Status : Under IBC Code, 2016.
2. Bhushan Steel Ltd
Reasons for shutdown:
• Debt of about 40k crore.
• Cancellation of coal mines which were allotted earlier. 
Current Status: Acquired by Tata Steel for $5.2B

3. Jaypee Infratech Ltd.
Reasons for shutdown:
• The Failed Restructuring Scheme
• SC order.
2018:
1. Aircel - Maxis Communications.
Reasons for Bankruptcy:
• Unsustainable Debt.
• Intense competition.
• Failed merger of wireless business.
Current Status: Under IBC,2016/Defunct.

2. Tapzo.
Reasons for shutdown:
• Amazon Acquiring Tapzo for $40M
Status: Defunt
Read 8 tweets
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Palmer Report
@PalmerReport
We now know that Trump’s net worth was less than $1 billion in 2005. That’s before he got hit hard by the 2008 crash, which we can now conclude must have left him with a negative net worth. He obviously never got out of debt. He’s not a billionaire, millionaire, or thousandaire.
In hindsight, it’s easy to see why Trump was so drawn to Putin’s money after the crash. and how easy it was for Putin to take financial control over him. When you’re that upside down financially, you’re always one false move from being out on the street, no matter your assets.
This may be difficult to conceive, considering that he lives and golfs luxuriously at borrowed properties that are owned by the banks, and he blows through borrowed money like a wealthy man would, but Donald Trump is a pauper. His “wealth” is all a mirage.
Read 6 tweets
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Organising For Action
@OrgForActionNig
One of the strongest criticisms that privatization has faced in Nigeria is that it is anti-poor. Many believe that privatization unfairly concentrates wealth in the hands of the rich elite, to the detriment of the underprivileged in society.
One way to address this issue is to handover certain government assets directly to the common man.
By privatizing government assets through transfer of property title to entrepreneurs and farmers, government could unlock trillions of naira in “dead capital”; grow the economy; and propel the entrepreneurial potential of millions of Nigerians, lifting lift them out of poverty.
Read 24 tweets
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Seth Abramson
@SethAbramson
(THREAD) THE TRUMP-KENNEDY PACT. No one is telling the full story of the Trump-Kennedy pact yet, so I'm going to do so now. You can't understand why Kavanaugh's nomination must be defeated until you understand the dirty deal that got us where we are. I hope you'll read and share.
1/ Trump's acceptance of a Federalist Society list of acceptable SCOTUS nominees—a list (remember this) with *20 names* on it—is what won him the presidency. Don't take my word for it; that's what *everyone* says about how Trump built a winning coalition. politico.com/story/2018/07/…
2/ What no one discussed in the presidential campaign—and what neither Trump nor Kennedy ever spoke of, despite the fact that Kennedy was the most likely Justice to retire, so his intention and willingness to retire was nationally significant—was that the two men knew each other.
Read 43 tweets
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Populist Pepe 🇺🇸❤️
@WeThePopulists
Here's a bit of fun with follow the money
#DavidHogg
According to this video, 51 year old daddy Kevin states he was a Navy pilot, then an elementary school teacher, then got into the FBI.
Follow along...this will be a few tweets...
(more)
Kevin Hogg was born in 1967
To be a Navy pilot, you have to be between 19 and 26 at the time you enter flight training
Depending on individual, it takes 1-2 years to become pilot
Shorter if you have BA degree
So we're looking at Daddy Hogg being AT LEAST 22-25+ when he left Navy
Then Daddy Hogg leaves the Navy AS A PILOT in the early to mid 1990s and becomes an elementary school teacher?
There's a demand for pilots both in the military and in air industry.
So WHY does he then become an elementary school teacher?

(more)
Read 18 tweets

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