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i overall like cory booker but this idea that taxing billionaires to fund a better society will kill growth is overly cautious nonsense.
if its one annoying note im probably going to keep hitting for the foreseeable future it is getting democrats to stop being so f*cking cautious. fortune favors the bold. ive seen the gop take gambles and win while dems are "smart" and lose. and when dems gambled... they won!
i spent 2002-2006 watching the democrats do "the smart thing" about iraq and all we got for it was a destabilized middle east and thousands of iraqis and american soldiers killed for no reason.
picking donald trump as their nominee was one of the "dumbest" things the republican party has ever done. and they won. what is always being the smartest guys and gals getting the democrats and america? brownie points?
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Oliver Willis
@owillis
I keep seeing Democrats insist we have to be the good guys and respect decorum and rules and honestly what is it getting our society? Republicans do neither and they get power and their agenda passed. Even the stink of Trump on them is worth it to pack the courts.
It's like: Are we in this to accomplish things or to get a "good citizen, stuck to the rules" ribbon? I'd much rather improve the country than uphold the rules.
If anything, Trump has made it very clear that the rules barely matter. Most of what he has done has been within the letter, if not the spirit of the rules. And frankly it feels like all the Democrats running just want to reset when the horse is out the barn door. All of them.
Read 7 tweets
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Oliver Willis
@owillis
I'm tired of us in America not having nice things and moving the ball forward and having life be comfortable and decent for much more people. We can afford it. Easily. And we should stop begging for scraps to get it done, stop saying we can only go part way instead of all the way
Aren't you tired of the right doing what it likes but when the left gains power we insist on artificial limits and restrictions? Let's just FUCKING DO IT.
I feel like at some point we just all accepted that this is how everything has to be, despite examples all around the world that it doesn't have to be this way.
Read 3 tweets
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Oliver Willis
@owillis
adam schiff said go to your room. no, you're not getting any ice cream tonight. not after how you behaved. disgraceful.
adam schiff just can't understand what got into you. we didn't raise you that way. is it your friends? are you being a follower? are you on drugs? you must be on drugs to act this way.
adam schiff takes some blame for your actions after all he raised you, but at some point you have to be responsible for your own behavior. you're an adult now. you're not a little baby. pretty soon you'll be going to college and then you'll have a job and its out of his hands.
Read 6 tweets

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The Hoarse Whisperer
@HoarseWisperer
Walked in the door just in time for the start of the Fiona Hill hearing.

Real-time coverage, comments and reactions here.

Here we go!

Feel free to mute this thread if not of interest.

1/
As Adam Schiff makes opening remarks, let's introduce our guest of honor.

Dr. Fiona Hill served in a senior role on the National Security Counsel as an expert on Soviet, Russian and European affairs.

She has been described as having a near-photographic memory.
Dr. Hill left the National Security Counsel in July.

She is regarded as a person of integrity devoted to the noble mission of advancing American foreign policy toward a Russia hobbled by kleptocracy and corruption under Putin's authoritarian leadership.
Read 51 tweets
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abhishek
@abhishec_s
Valuations, Quality & Implied Expectations.

(thread)
2/n

What does a 60 times forward PE mean?

For a company with 50% ROIC, 5% terminal growth and 11% WACC the attached table gives the implied growth expectations for a 60 times PE multiple.

Assuming earnings ex capex are passed on to shareholders without tax leakages.
3/n
What can we benchmark this to?

The attached table gives last 10/20 year sales growth for some of the best companies in India. Note the margins can’t keep expanding for ever (in fact they behave in a somewhat cyclical fashion) and CFs eventually have to track sales.
Read 10 tweets
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Freyja 'Catra' Erlingsdóttir
@FreyjaErlings
Now then, where was I in my Ranma read...
Oh. Right. Her.
Let's Talk About Shampoo.

She's kind of an ascended character in the fandom, overall; the anime adaptation in particular does a lot more with her than Takahashi ever did; I doubt she intended her big role. And this first storyline is probably going to illustrate what I mean.
Read 35 tweets
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David Henig
@DavidHenigUK
So, the Political Declaration between the UK and EU. Like an addendum to the Withdrawal Agreement saying "and we all lived happily ever after" this combines standard trade stuff with some barely credible wishlist stuff - but there is some substance hiding in there as well 1/
It is worth taking note of the words up front about a close partnership. This wasn't always a given, and is probably too close for some. Of course these are just warm words, but they have some significance... 2/
But the red lines are there in para 4. And these are going to cause lots of problems, which this document isn't going to detail... 3/
Read 18 tweets

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