Rick Smith Profile picture
Feb 3 12 tweets 7 min read
Matías Vernengo: The Fed may say they want a soft landing & not cause a recession, but it looks bad on the Fed if they appear to be weak on inflation. I think Repubs want chaos.
@NakedKeynes @BucknellU
Matías Vernengo: If the Fed didn't already cause a recession, housing prices may throw us in a recession. If we dodge that bullet, then I think Repubs will want to throw us in a recession & it would be political.
@NakedKeynes @BucknellU
Rick: I think some members of Congress are like the kids you tell not to touch the hot stove--they have to touch it to see what happens. They may have to learn the hard way what happens if they don't raise the debt ceiling.
#RickShow
Matías Vernengo: If we don't raise the debt ceiling, the economy collapses. See Argentina & Greece. This is not fun--these people are crazy to tempt it. The size of the US gov't is tremendous; imagine if we'd default on our loans.
@NakedKeynes @BucknellU
Matías Vernengo: We can extend Social Security taxes to people who make more money.
Rick: That'll never happen.
@NakedKeynes @BucknellU
Matías Vernengo: Using debt to build infrastructure is a good idea, where you're creating jobs for people--that'll eventually pay back the debt.
@NakedKeynes @BucknellU
Matías Vernengo: Biden is right in saying we shouldn't negotiate. [debt ceiling] There's no reason to do that.
Rick: Everyone's blaming Joe Biden, but we're coming out of a pandemic. It's like when we came out of WWII.
@NakedKeynes @BucknellU
Matías Vernengo: The annualized inflation over the last 6 months is gone, even if we aren't feeling it yet. If *I* know this, you know the Fed knows it.
@NakedKeynes @BucknellU
Matías Vernengo: Inflation is only bad because it hurts the people at the very bottom who make low wages, so raise their wages.
@NakedKeynes @BucknellU
Matías Vernengo: Society is complicated. Sometimes you don't just want to be doing well, you want to be doing better than the other guy.
@NakedKeynes @BucknellU
Matías Vernengo: Even if they allow for a default or a shutdown of the gov't, I don't think we can live 15 yrs below the GDP. I think clearer heads in Congress will prevail. It may have implications for the election in 2024.
@NakedKeynes @BucknellU
Check out Matías Vernengo's writings at
nakedkeynesianism.blogspot.com
@NakedKeynes @BucknellU

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More from @RickSmithShow

Feb 4
Bob Ney: I don't think Marjorie Taylor Greene or Gosar will go to a martyr status. Of all the people who could be removed from a committee, there'd be more outrage over Schiff than Omar.
@bobney
Bob Ney: I didn't think it was a good idea when the Dems didn't, it wasn't a good idea when the Repubs did it, & now they've both done it. MTG said some outrageous, obnoxious things, & Omar said some things I don't really care for. It's precedence-setting on both sides.
@bobney
Bob Ney: I read the articles about the giant balloon over the US; I am in favor of shooting it down, especially if it goes over an uninhabited piece of land.
Rick: My first thought was to shoot it down but it could become a ramp-up moment if they shoot down one of ours.
@bobney
Read 13 tweets
Feb 4
Fred Wellman: The giant Chinese balloon flew over my house today in Missouri. The idea that someone could fly something over my head & take pictures of us...wait a minute. One of my Repub reps sent out 9 tweets about the balloon.
@FPWellman @BeerHallProject @ProjectLincoln
Fred Wellman: The Chinese balloon is the classic "Look over here & not over there!" I was a spokesman for the Pentagon for a while; the military tries to stay out of politics but messes things up in doing so. Biden deferred to military
@FPWellman @BeerHallProject @ProjectLincoln
Fred Wellman: If we shoot down China's balloon, then they'll shoot down one of ours.
@FPWellman @BeerHallProject @ProjectLincoln
Read 14 tweets
Feb 3
Emily Andrews: The Family Medical Leave Act is an incredibly important piece of legislation. It's not just the pay, FMLA is flawed--the size of the employer, how long you've worked there, how much you make all affects your ability to take unpaid leave.
@emilymandrews @CLASP_DC
Emily Andrews: There are a number of bills to increase the number of people who can qualify for FMLA. The biggest obstacle to FMLA? People can't afford to take 12 weeks of unpaid leave.
@emilymandrews @CLASP_DC
Emily Andrews: We are the only industrialized nation without paid leave.
@emilymandrews @CLASP_DC
Read 11 tweets
Feb 3
Rick: The thought of Tucker Carlson getting slapped around a little...
Sarah Burris: He's probably into that. He might even be into wearing diapers or something.
Rick: That's an image I never want to see.
@SarahBurris @RawStory
Sarah Burris: Remember when McCarthy said the first thing he was going to do as Speaker was read the Constitution every day? Well, that hasn't happened yet so clearly he doesn't support the Constitution.
@SarahBurris @RawStory
Sarah Burris: As long as Repubs concentrate on performative things, like praying & saying the Pledge of Allegiance, they don't actually have to govern. They hope no one will notice.
@SarahBurris @RawStory
Read 13 tweets
Feb 2
Lisa Graves: School "choice" is the language they adopted from the actual choice movement. There was an effort to resist racial integration in schools, & in 1954 the Supreme Court said kids couldn't be segregated by race in school.
@thelisagraves @itstruenorth
Lisa Graves: The school choice schemes we've seen funnel public money into private hands with no oversight, no accountability. They're often taught by people unqualified to teach.
@thelisagraves @itstruenorth
Lisa Graves: I remember meeting a woman in my geology class, my lab partner, who said she believed the earth was no older than 8000 yrs old. She'd been homeschooled & was taught from the Bible.
@thelisagraves @itstruenorth
Read 13 tweets
Feb 2
We're basically hamstringing the medical profession with the laws being passed regarding abortions. Doctors are having to play defense. We have the highest infant mortality rate & the highest maternal mortality rate,& now we're tying doctors' hands in caring for women.
#RickShow
If abortions are allowed only in the cases of incest or rape, we're forcing women to be liars, to make false accusations, & then to be criminals, simply so they can have control over their bodies.
#RickShow
In TN, they're proposing an exception for rape. A woman who's raped has to report it, either to the police or to a rape crisis center, which then must report it to the police. (con't)
#RickShow
Read 4 tweets

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