My Authors
Read all threads
Powell's comment on Fed bank accounts didn't get one millionth of the attention it deserved, He effectively said that households could save tens of billions if we let them have accounts at the Fed, but we shouldn't allow it because it would hurt the banks (thread)
Imagine that our trade economists told us that we could save billions on cars by outsourcing the production to developing countries with cheap labor, but we shouldn't do that because it would hurt U.S. autoworkers.
It shows the wonderful double-standard at play in economic policy. When we can achieve greater efficiency at the expense of ordinary workers, it is absolutely imperative that we do it. You know -- we all love free trade.
But if the question is achieving greater efficiency at the expense of the banks -- well that's off the table.
Incredibly, many on the left will then turn around and blame "the market," as opposed to the people who are rigging the market to redistribute upward right in front of our face
Missing some Tweet in this thread? You can try to force a refresh.

Keep Current with Dean Baker

Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!