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Okay, yes, this seems bad but on the other hand Trump supports Israel [in an effort to hasten the apocalypse] so it all balances out.
If you’ve spent your whole life living in cosmopolitan cities you may not realize how deeply quotes from The Protocols of the Elders of Zion resonate with regular people in the red oblasts outside the Pale of Settlement.

Sneering at this stuff is why Trump won.
In all seriousness, Trump’s “genius” — such as it is — is through repeated outrages and stubbornness he’s created a situation in which “will the president distance himself from the RNC speaker who earlier today endorsed a notorious anti-Semitic con job” is somehow uninteresting.
Relatedly: Over the weekend the president was ordered to pay the legal fees of the porn star he had an affair with while cheating on his third wife before asking his personal attorney to violate campaign finance law to pay her off — total non-story.
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Matthew Yglesias
@mattyglesias
One simple clause from the Fed today but it’s a big deal: “following periods when inflation has been running persistently below 2 percent, appropriate monetary policy will likely aim to achieve inflation moderately above 2 percent for some time.”
Why does that matter? Well, the Fed directly influences short term interest rates.

But big investment decisions are more about long-term rates. But you can think of long-term rates as a series of predictions about what short-term rates will look like over the long term.
So in the current setup, you could have low rates now but also the expectation that as soon as the economy reaches a non-crisis point the Fed will raise rates.

The new framework says no, we’ll keep them lower for longer.
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Matthew Yglesias
@mattyglesias
The non-Trump version of the story seems to be a disagreement inside the public health bureaucracy about the merits of approving a safe treatment whose effectiveness is unclear, part of a bigger debate about FDA procedures.

nytimes.com/2020/08/19/us/…
The FDA normally requires companies to demonstrate that medicines and medical devices are safe AND EFFECTIVE.

Other stuff is regulated more lightly; a dietary supplement that purports to boost the immune system needs to be safe but you don’t need to prove it actually works.
Since demonstrating efficacy is time-consuming and expensive, one view — a general view not unique to Covid — is we should shift to a pure safety standard that makes it easier to bring things to market.

If it’s safe what’s the harm?
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Matthew Yglesias
@mattyglesias
Post “Hope and Change” you see a real asymmetry between the parties in that Democrats lack a credible account of how they are going to deliver on their supporters’ aspirations.

Republicans have different, more achievable goals.
Trump’s presence in the White House guarantees that banks and polluters and telecom companies and everyone else get friendly regulatory treatment.

And for the rest, Trump punches back against progressive cultural forces in media and higher education.

Low bars, cleared.
But Democrats promise sweeping policy transformation. The most moderate choice in the field says he’ll overhaul labor labor, solve climate change, deliver universal health care. *and* expand the housing and child care safety nets.

Oh and also end structural racism.

How?
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