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Catherine Rampell Profile picture
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28 Oct, 4 tweets, 2 min read
Stock market slide muddles Trump’s economic message days before 2020 election washingtonpost.com/us-policy/2020…
In a recent poll asking voters to name Trump's "major accomplishments," top response had been "boosting the stock market" today.yougov.com/topics/politic… Image
"Boosting the stock market" as your greatest presidential achievement would be lackluster enough. U.S. stocks are mostly owned by rich people and foreigners, as @stevertax has pointed out.
But then to lose even *that* meager bragging right...
taxpolicycenter.org/taxvox/who-own…
@stevertax Not that he ever really had the bragging right in the first place, given that presidents don't actually control stocks...and even if they did, market had risen more by this point in Obama's presidency than it has in Trump's Image

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More from @crampell

Catherine Rampell Profile picture
27 Oct
No, Biden isn’t going to unilaterally kill fossil fuels. Renewables/battery tech have gotten so cheap, so fast, that they’ll eventually replace fossil fuels *no matter what* the next president does. Only question is how quickly this transition happens washingtonpost.com/opinions/biden…
Biden's statement about transitioning away from oil only seems radical if you ignore what the industry itself is saying. E.g. the usually bullish OPEC recently said developed nations are past peak oil. washingtonpost.com/opinions/biden…
International Energy Agency’s new World Energy Outlook found that solar PV is “consistently cheaper than new coal- or gas-fired power plants in most countries, and solar projects now offer some of the lowest cost electricity ever seen.” washingtonpost.com/opinions/biden…
Read 10 tweets
Catherine Rampell Profile picture
25 Oct
Earlier this year I wrote about visa applications getting rejected for having inapplicable blanks on them. Thanks to a newly resolved FOIA suit, we now have a better sense of the scale of this policy and its consequences.
They're enormous. (thread)
This summer, lawyers from @UrbanJusticeDVP & @ClearyGottlieb filed a FOIA suit to get info about how the "no blanks" was being applied to just one category of visa, the U-visa. U-visas are given to victims of serious crimes who assist law enforcement to catch/prosecute criminals
No-blanks policy went into place for U applications on Dec 30, w/ no advanced warning. In first few weeks, *98%* of these applications were rejected because of new policy -- applicant without middlename hadn't included middlename, no current address offered for dead parents, etc.
Read 18 tweets
Catherine Rampell Profile picture
23 Oct
So...I just scraped new State Dept data on student visas (F-1's), and it looks like student visa issuance fell by ~70% from FY2019 to FY2020.

This is an astounding idiotic own-goal for America, given that education is one of our most successful exports.
What happened? First, covid closed consulates in the spring, and various travel bans then prevented issuance of visas initially for students in some countries even when consulates reopened. Some of that got sorted out eventually. But then...
...Trump admin wouldn't grant visas to new internat'l students if classes were online, as is the case for many schools during covid. (Initially ICE said even *returning* foreign students wouldn't be allowed to study here if classes are online, then changed to new students only)
Read 15 tweets
Catherine Rampell Profile picture
21 Oct
Letter opposing Donald Trump's re-election signed by 670 economists, including seven Nobel laureates:
George Akerlof (2001)
Roger Myerson (2007)
Peter Diamond (2010)
Christopher Sims (2011)
Alvin Roth (2012)
Oliver Hart (2016)
Paul Milgrom (2020)
sites.google.com/site/econagain…
Interestingly, a similar letter in 2016 was signed by 794 economists
sites.google.com/site/economist…
To be fair, looks like the 2016 letter was initially released with "only" 370 names, and then grew as time went on and the letter circulated more broadly. Same might happen again. washingtonpost.com/news/rampage/w…
Read 6 tweets
Catherine Rampell Profile picture
21 Oct
lol nothing Trump loves more than using books or big stacks of paper as props when he can't deliver on substance
Another one (possibly also of blank pages)
More
Read 4 tweets
Catherine Rampell Profile picture
21 Oct
USCIS employees have been told that new "Fraud Awareness" training will be mandatory for all USCIS adjudicators. Appears to be part of a broader resource shift away from providing immigration services (as the agency name implies) and finding excuses to deny those services.
USCIS allocated more than double the amount of resources to fraud detection in its biennial fee reviews that accompanied the respective FY 2016 and 2020 fee rules. Staffing on Fraud Detection & National Security has also more than doubled from FY 2016/2017 to FY 2019/2020
Meanwhile, of course, the agency has been crying poverty, and spent the spring/summer threatening to furlough 70% of its workforce without a congressional bailout.
Read 4 tweets

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