Founder of THE OVERSHOOT and UN/BALANCED | co-author of TRADE WARS ARE CLASS WARS | For speaking: https://t.co/bD8a12V37O
Mar 10, 2023 • 4 tweets • 1 min read
Too many people think of It's a Wonderful Life (operational mismanagement) when they should be thinking of Mary Poppins (a pure bank run)
May 29, 2022 • 4 tweets • 2 min read
The current account surplus is (mostly) the value of exports minus imports. If you restrict what people in a country can import without limiting how much they can export, this is exactly what you would expect. It is not improving Russian living standards or fighting abilities.
In practice, Russian commodity exporters are selling valuable goods to the rest of the world in exchange for financial claims *that they mostly can't use* to buy things they want from outside Russia. Seems like a decent deal for everyone except the Putin regime.
May 11, 2021 • 4 tweets • 2 min read
The sector-level data on openings from JOLTS don't really support the "UI-induced labor shortage" theory, fyi
Meanwhile, today's NFIB data says that the share of small businesses complaining about "how hard it is to find good help these days" (aka labor quality) is still lower than before the pandemic.
