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One cardinal rule for policy is NOT to give a deeply corrupt administration discretionary power to reward friends and punish enemies 1/ nytimes.com/2020/03/19/opi…
Sure enough, the Senate bill tries to enable vast corruption 2/
With nothing for workers, of course 3/
Rs will say — after months of delaying response — that we must act NOW NOW NOW. But aid to health care urgent; aid to laid-off workers urgent; aid to corporations can wait a bit for a decent bill 4/
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Paul Krugman
@paulkrugman
This paper by Guerrieri et al is impressively fast work, similar in spirit to what I've been thinking but going much further while also crossing the eyes and dotting the teas 1/ economics.mit.edu/files/19351
My informal discussion here. We have a direct hit to "contact-intensive" sectors, and a second-round Keynesian demand-side hit to the rest of the economy 2/ nytimes.com/2020/04/01/opi…
They suggest that there may be lasting negative effects, even as the pandemic fades, because of balance-sheet damage; they suggest, going beyond where I was, that there may be adverse effects on the economy's potential 3/
Read 7 tweets
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Paul Krugman
@paulkrugman
Agree with this: balance sheet damage will hinder recovery even when the virus subsides. But 20% unemployment in 6 months sounds wildly optimistic: we may well be there in *two weeks* 1/
Justin Wolfers thinks it's 13 percent already. 2/ nytimes.com/2020/04/03/ups…
And it won't just be damaged firm balance sheets. Also forced fiscal austerity by state and local govts 3/
Read 3 tweets
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Paul Krugman
@paulkrugman
So, as I understand it, the two key disaster-relief provisions of the CARES Act — enhanced unemployment benefits and small-business loans — aren't likely to be operational for weeks, due to lack of administrative capacity, even though we've already lost 10 million jobs 1/
This cries out for a crash effort, led by experts, to clear up the bottlenecks — sort of like the effort that rescued healthcare.gov when Obamacare launched. But while I'd like to be proved wrong, hard to see Trump admin doing this 2/
After all, even if it did create such a task force, Trump would surely put Jared Kushner in charge 3/
Read 3 tweets

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John Stoehr's Editorial Board
@johnastoehr
The GOP's Separatist Movement Exposed by @johnastoehr stoehr.substack.com/p/the-gops-sep…
1. I said during Donald Trump’s impeachment trial that the Republicans were acting less like a party and more like a separatist movement. stoehr.substack.com/p/the-gop-sepa…
2. A Republican president who breaks the law, as Trump did when he blocked congressionally appropriated aid to Ukraine, is not only above it; he is it. A law-breaking Democratic president, OTOH, “deserves the full-force of Congressional investigation, prosecution and removal.”
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David Roberts
@drvox
This constantly shifting news environment is not kind to slow-ass writers like me. I feel like a whale chasing a bunch of minnows around. I started a piece on stimulus over the weekend & everything has changed on that score like 5 times since.

🐟🐟🐟 🐋
Me finishing a paragraph.
Over the weekend, I'm writing "it's possible the Trump administration will use the stimulus to reward friends & punish enemies" & I thought, hm, maybe that's to harsh to predict in advance, and then Rs in Congress propose a literal $500b slush fund ...
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Jesse Eisinger
@eisingerj
Wow, this is a total weaponization of the DOJ against Trump antagonists happening right before our eyes:

wsj.com/articles/justi…
In keeping with the possible charging of McCabe, the hounding of Bruce Ohr, the IG report on Comey, etc.

Two and a half years in, Trump and his acolytes are figuring out how to use the apparatus of the state to reward friends & punish enemies. A direct attack on the rule of law.
Always seemed to me the Antitrust division was a great vehicle for weaponization of the state. The investigations strike at corporations & whole sectors (controlled by the wealthy & influential); they are incredibly time consuming & expensive; they are by their nature opaque.
Read 4 tweets
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Paula Chertok🗽
@PaulaChertok
NEW and important reporting from @JaneMayerNYer: The Making of the Fox News White House | The New Yorker newyorker.com/magazine/2019/…
💥Inside the @FoxNews-Trump propaganda machine: Hannity's become a West Wing adviser b/c of “utter breakdown of any normal decision-making in the White House…The place has gone off the rails.” So Fox TV personalities fill the "vacuum.” One—Guilfoyle—is like family, dating Don Jr
🤯Trump watches ‘Fox & Friends’ morning talk show like he's watching friends. He's reportedly RANKED the LOYALTY of Fox figures on a 1-10 scale. Bret Baier—on the "news" side—is only a 6; Hannity—a solid 10. And Steve Doocy of Fox & Friends is so adoring, Trump gives him a 12😳
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Christophe Barraud🛢
@C_Barraud
🇨🇦 🇺🇸 🇨🇳 🇮🇷 #Canada arrests #Huawei’s global chief financial officer in Vancouver – The Globe and Mail
theglobeandmail.com/canada/article…
A gauge of #technology shares on the MSCI #Asia Pacific Index slid as much as 3 percent before paring some losses - Bloomberg
🇺🇸 #SPX ⬇ as much as 1.9% from Tuesday’s close, before paring some losses. Selling pressure early in the session was so intense that it forced CME Group to intermittently pause trading, according to a spokesperson for the exchange - Bloomberg
*Link: bloom.bg/2BTw5DN
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Drain The NRA
@drainthenra
1/Last night we and other local leaders of @MomsDemandAction, @WAGV,@Momtivist, @fialosangeles spoke with @KatieHill4CA about her quote in @NYTimes. We wanted to give Katie the opportunity to explain before we made a public statement. #CA25
nytimes.com/2018/11/09/us/…
2/We do appreciate that @KatieHill4CA took the time to listen to our concerns about the consequences of this quote. We'll allow Katie to better explain how this quote came about. #CA25
3/We want be clear that this order of sentences, however they came to print are uninformed and dangerous. We and so many LA-based activists worked tirelessly these past 2 years to get the #NRA out of #CA25 and that includes NRA talking points.
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