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Friday Evening Owls: Summers does it once more, worrying about too many stimuli as a substitute of not sufficient

If the vaccines prevail and social distancing measures are eased significantly in the coming year, the economic relief we have provided so far through this crisis and the Biden Plan could see the economy come back to life and turn itself recovering far faster than what we’ve seen in the last couple of recessions. If this happens and the unemployment rate is well below its pre-COVID level and stays below it for a few years, it is a positive thing not to be feared.

To be really clear, unemployment can be well below what is known as the “natural rate” (or the lowest unemployment rate believed to be consistent with stable inflation over the long term) for long periods of time without disaster – look Look at the years before 1979 This graph – we’ve been spending a lot of time below natural rate and growing (and growing) much faster than we have since. […]

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“If you want to know how things really work, study them when they fall apart.”
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BLAST FROM THE PAST

That day at Daily Kos in 2012– Posters, billboards and white privileges:

Although much attention has been paid to the racism and privileges inherent in recent statements by Republican presidential candidates in seeking support from the base of the South Party and the Tea Party, and the actions of elected officials like Republican Governor of Arizona Jan BrewerToo often the fingers are wrongly pointed at our warmer climes as they are the only place for racist activities and / or attitudes. Frankly, the history of racism in the US knows no regional borders. It was embedded in our roots from the moment indigenous people were attacked and removed. Hand in hand with systemic racism goes what those involved in civil rights struggles and the academic study of racial differences have called “white privilege,” which is a cornerstone of the academic discipline of Critical Racial Theory.

An example from the north is Duluth, Minnesota, where there was controversy over a recent campaign to combat racism and white privilege.

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