Thread by @RickSmithShow

Matías Vernengo: Inflation is at a 40-year high but compared to the rest of the world, it's not as bad. Prices for food & shelter are increasing here but not as high as in other countries.
@NakedKeynes @BucknellU

Matías Vernengo: I just returned from Argentina; their inflation is 60-70% with projections of going as high as 90%. Globally, the US is by far in a relatively strong position.
@NakedKeynes @BucknellU

Matías Vernengo: Even in a divided Congress, we should be hopeful abt the direction of the economy for working class ppl. There are good signs, even if things aren't rosy. I don't think Biden has gotten much credit for it.
Rick: He hasn't gotten any credit
@NakedKeynes @BucknellU

Matías Vernengo: Bernie Sanders has criticized the CHIPS Act, & I can see it to a point, but it provides for bringing manufacturing back to the U.S.
@NakedKeynes @BucknellU

Matías Vernengo: Medicare can negotiate w/ pharmaceutical firms to reduce costs. We overspend on healthcare w/ reduced results so this helps, but we didn't get this ability to negotiate Rx prices for private insurance, only for Medicare.
@NakedKeynes @BucknellU

Matías Vernengo: We'll get corporations that were not paying taxes to pay taxes now. Tax loopholes weren't closed, but at least we're moving in the right direction.
@NakedKeynes @BucknellU

Matías Vernengo: We do want American companies to produce goods in the US; we saw during the pandemic how critical that is. It's also important for defense to have things we need produced here.
@NakedKeynes @BucknellU

Matías Vernengo: The CHIPS Act won't solve 40 yrs of sending jobs overseas but it's a move in the right direction, finally. This is the first time we have a policy that wants to bring back manufacturing jobs to the U.S. That's a big deal.
@NakedKeynes @BucknellU

Matías Vernengo: We have to protect workers & their right to unionize. I don't think the unionization efforts that are going on are strong enough that wages will recover very fast but there's a change of mood in the economy.
@NakedKeynes @BucknellU #UnionYes #UnionStrong #1u

Matías Vernengo: People have a positive views of unions, which is something they didn't have 5 yrs ago.
Rick: It's important to have the prevailing wage language in the Inflation Reduction Act, too.
@NakedKeynes @BucknellU #UnionYes #UnionStrong #1u