Biden's vaccine target should be 200 million in 100 days, not 100 million in 100 days.
I guess with only 235 million adults in the U.S. and a large fraction hesitant about taking the vaccine, 200 million probably isn't possible. But 100 million seems like a lowball.
Also, vaccine production is running at about 2 million doses a day (enough to vaccinate 1 million people), so 100 million in 100 days is probably close to the limit of production capacity unless we approve the Johnson & Johnson vaccine.

nytimes.com/2021/01/21/hea…
BUT, Biden has said he's going to do the "first shots first" thing, which would dramatically expand the number of people who get vaccinated per dose produced, so 🤷

washingtonpost.com/health/biden-p…
Plus, Johnson & Johnson vaccine is a completely different supply chain, requires only one shot, has shown very promising results, and should be approved within weeks if it works:

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More from @Noahpinion

22 Jan
I respect disagree with this thread. The idea that hyperinflation results from a regime change is an unproven hypothesis. It's something we should be studying, yes, but for now it's just a guess.
That was supposed to be "respectfully", dang it
In particular, if we stop worrying about austerity like we used to, and then at some point we DO experience hyperinflation, the Tom Sargents of the future will look back and call our attitude shift a "regime change". And who will be able to disprove them?

Read 8 tweets
22 Jan
1/Lots of people ask me: "Noah, how much can the U.S. government borrow before bad things start happening?"

In this newsletter, I try to give a definitive answer to that question.

Unfortunately, the answer is: No one knows.

noahpinion.substack.com/p/no-one-knows…
2/Some people say that we're already heading into the danger zone with respect to debt.

My instinct is that these people are completely wrong, and we're not in danger. But I can't *prove* them wrong, because we don't actually know how much is too much.

ft.com/content/d49b53…
3/How can we think about what the government's borrowing constraint really is?

Well, it helps to do a thought experiment. Let's imagine if the government kept borrowing exponentially more. $100 trillion. $100 quadrillion. Etc.

What would happen?
Read 22 tweets
19 Jan
1/OK, so. Let's talk about Left-NIMBYism.

We all know about Right-NIMBYs, rabidly protecting their white-flight suburbs from Those People. And there are plenty of liberal NIMBYs too.

But NIMBYs of the Left are also a force to be reckoned with.

noahpinion.substack.com/p/the-left-nim…
2/Left-NIMBYs have developed a canon of interlocking, mutually reinforcing beliefs about housing and urbanism.

These beliefs are mostly false, but they form a powerful "canon" that quickly ossifies into a hardened worldview.

It looks something like this:
3/Fortunately, Nathan J. Robinson of Current Affairs has written an article that perfectly encapsulates the Left-NIMBY worldview (and quotes me in it!).

So this is a teachable moment.

currentaffairs.org/2021/01/the-on…
Read 20 tweets
16 Jan
1/Today in @bopinion, I talk about the legacy and career of Jim Simons, the founder of Renaissance Technologies, who is stepping down as the hedge fund's chairman.

bloomberg.com/opinion/articl…
2/Simons' fund beat the market -- consistently, by huge percentages, after fees.

That's an astonishing accomplishment.

bloomberg.com/opinion/articl…
3/How did he do it?

Basically, by being relentlessly smarter and better-managed than the competition.

bloomberg.com/opinion/articl…
Read 11 tweets
10 Jan
1/OK, let's take a little break from Coup Twitter, and think about an economic issue:

How can we build up the wealth of the middle class?

noahpinion.substack.com/p/housing-and-…
2/The typical American has surprisingly little wealth compared to the typical resident of many other developed countries.

This is a fact that is not widely known or appreciated.
3/Now, some people argue that stuff like Social Security or social insurance programs should be included in wealth. But I chose to focus on private wealth because I think having assets you can sell whenever you want is important to people.

Read 23 tweets
8 Jan
1/I decided to write about America's Cold Civil War, and when it might end, and what might be done to hasten its end.

I'm biased, and I'm not an expert on this sort of thing, so take my thoughts with a grain of salt!

noahpinion.substack.com/p/thoughts-on-…
2/With 45% of Republicans supporting the coup attempt of 1/6 and 42% blaming Biden, it's clear that the Cold Civil War is far from over.
3/First, let's talk about why the Cold Civil War is continuing.

The main reason is that the Right feels an intense sense of threat.

Some of that threat is demographic.

journals.sagepub.com/doi/full/10.11…
Read 25 tweets

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