👇Once again, the thing that should be driving headline media coverage of the GOP nonsense about “infrastructure” is on the op-ed page instead of on the front page
The entire approach is just taking GOP talking points at face value and framing media coverage entirely around them. It’s a pervasive problem:
Of all the frames one could pick to analyze Biden's plan, "that's not infrastructure" is perhaps the least useful.

"Who is proposing intelligent solutions? Who is blocking them? And why?

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More from @mcopelov

26 Apr
If only there were electoral systems capable of aggregating the national population into parliament in a proportional manner without creating zero sum competition between arbitrarily drawn subnational geographic units...
Read 4 tweets
26 Apr
Biden didn’t promise 100% unity, and he certainly didn’t promise compromise or unity with lying authoritarians. Baker and the rest of the mainstream media pursuing this pointless line of nonsense know this, and they are intentionally pretending otherwise.
It would be useful to hear from Baker exactly what Biden was supposed to do that he hasn’t. Compromise on a woefully inadequate economic relief bill? Publicly forgive the 1/6 seditionists for their actions? Falsely admit that Trump won? This is a content-less gotcha critique.
It also ignores the fact that Biden has advanced policy after policy supported by large supermajorities of voters. Perhaps Baker might focus on that. Of course, that would require covering politics as policymaking and substance, rather than theater and horse races.
Read 4 tweets
12 Apr
If you can’t see how things add up, after badly miscalculating the politics & economics in 2009, & after a wide range of people in 2021 have repeatedly explained it (hint: stop analyzing it as “stimulus”), then all that’s left is to imply your critics aren’t being “quantitative.” Image
Read 5 tweets
4 Apr
When (Hoover) Institutions show you who they are, over and over again, believe them
Maybe platforming Niall Ferguson on currency and debt issues in 2021 is something that ostensibly serious media outlets want to reconsider? 🤔
Read 4 tweets
4 Apr
Not strange at all. Sure, there’d be political economy conflict in 🇪🇺 over XR levels/pegs. It absolutely would’ve offered relief for 🇬🇷, now <13 years> into a Great Depression+ w/ no end in sight. We <still> don’t fully appreciate the epic, unresolved disaster of the EZ crisis.
The 🇪🇺 made a desert and declared victory:
Everything that was true about the Eurozone in 2015 remains true and unresolved in 2021. That EMU has survived six years does not mean it will survive forever, especially as long as all of the alternatives to devaluation remain politically infeasible.

Read 6 tweets
3 Apr
Sigh. It’s a month, so apparently we’re doing this again.

No, the dollars hegemony is not looking fragile.


As @michaelxpettis notes, this isn’t going to happen anytime soon because this would be disastrous for 🇨🇳 ‘s growth model, financial stability, etc. As he also notes, this is literally the same article written about the yen and the Euro in years past.

As promised, here is your link to the @BIS_org report detailing the dollar’s unprecedentedly extensive centrality in global finance. This isn’t going to markedly change anytime soon, & certainly not going to lead the dollar to lose “nearly half its weight” as a reserve currency.
Read 7 tweets

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