According to this NYT op-ed, if the Fed raises interest rates, then companies will borrow less money to do share buybacks and more money to build new plants/products because........ ?
In what model of the economy does this make sense??
This paragraph claims that price indexes miss the "cost increases obscuring a household-to-debt buildup for all but the wealthiest"
But thanks to an easy money/low interest rate/dovish Fed, household debt service costs are at an all-time low.
Did anyone fact check this op-ed?
This paragraph reminds of that famous quote: "If a law is unjust, a man is not only right to disobey it, he is obligated to do so."
We shouldn't immiserate ourselves just because an old statute calls for "moderate" interest rates
Also the author gets the "moderate" interest rates thing backward. Interest rates were high at that time the law was passed, so a call for "moderate" interest rates is asking for lower interest rates
Wow — students with low test scores from a high-income household are more likely to finish college than students with high test scores from a low-income household
Two more striking charts (citing a Chetty et al 2018 paper):
"Conditional on parent income, the black-white income gap is driven entirely by large differences in wages and employment rates between black and white men; there are no such differences between black and white women."
The Chinese Communist Party has blocked Western internet companies from accessing their domestic market for years.
Now, others are following in their footsteps.
Nigeria banned Twitter for deleting a tweet from the president.
India raided Twitter's office in New Delhi.
We can't return to the libertarian days of the early internet (nor would we want to).
But leaders need to defend and promote the values of the free and open internet, while taking targeted measures to address privacy concerns, hate speech, and foreign interference in elections.