Looking at municipal bond yields rn, it seems very obvious to me that New York City should issue a bunch of debt and buy the Knicks. Operating income will more than cover the debt service.
(New York should generally be borrowing a bunch of money now; unlike many, the state doesn’t actually have a balanced budget requirement)
Step 1: Tell the Dolans that if they don’t sell the Knicks, NYC won’t renew the lease on MSG.

Step 2: Issue debt, buy the Knicks.

Step 3: Profit.
Right on cue, Andrew Yang’s announcement video says ‘maybe we can save the Knicks.’

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More from @JHWeissmann

14 Jan
I see people ask this a lot. It’s a good question, and while I’m not exactly an expert, I do think there are a few basic answers...
First, the Great Depression was so catastrophic that it discredited both the Republican and the entire ethic of laissez faire. Unemployment officially peaked around 22% in 1932, but that really understates the devastation, because...
...it doesn’t count farmers who’d gone broke as wheat and cotton prices collapsed. About a fifth of the country worked in agriculture, and by the time FDR was in office, farm country had been in a years long slump (it was a large part of what made the depression great).
Read 11 tweets
13 Jan
To build on what Matt's saying:

You have to realize the extent to which the Obama administration failed to make a fast, perceptible difference in Americans' lives.

The stimulus prevented things from getting worse. However...

...by November of 2010, the unemployment rate had barely budged from its peak. The share of adults between the ages of 25 and 54 who were working was stuck at its trough. Meanwhile...
...the country had just gone through a rancorous fight over Obamacare. And what did the admin have to show for it? Not a ton. The Medicaid expansion didn't begin until 2014 (which, in retrospect, was a fucking insane choice). The exchanges weren't running yet.
Read 8 tweets
11 Jan
Teddy Roosevelt killed a cougar with a knife
Andrew Jackson was in more than 100 duels.
Zachary Taylor was a war hero literally nicknamed "Old Rough and Ready." This man saw things. Image
Read 4 tweets
9 Jan
One thing about Trumpists flying the thin blue line, gadsden, and confederate flags while trying to tear apart the literal seat of American democracy is that it really creates room for Democrats to really lean into the plain old American flag, which I like, as their symbol.
Republicans have also entirely abandoned the statue of liberty—which as a New Yorker I will always unironically love—as a symbol of the nation. Feels like Dems could do more with it.
Don’t ever let them forget this. They don’t love their country. They love their cult. people.com/politics/pro-t…
Read 5 tweets
8 Jan
There are numerous reasons why it would make sense for Murkowski—who won a damn write-in election in a state that now has a jungle primary anyway—to join the Democratic caucus as an independent at this point. adn.com/politics/2021/…
First, she's pro-Medicaid, voted against ACA repeal, opposed Kavanaugh (ultimately voted 'present' so Daines could stay at his daughter's wedding), and already isn't Trumpy enough for many Alaska conservatives.
Second, one of her big issues as a Republican has been protecting Alaska's oil industry. But she recently just negotiated a pretty solid, bipartisan energy package that went into the omnibus bill that included lots of renewable subsidies. energy.senate.gov/2020/12/murkow…
Read 6 tweets
8 Jan
(There's been a question about whether Democrats would actually try to push ahead fast with checks, potentially even as a standalone. This suggests that if they do happen, they'll be part of a wider relief bill, which wouldn't be terrible)
Read 5 tweets

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