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dhs50.bsky.social
@dhs50.bsky.social
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Reposted
ryanlcooper.com
or JK Galbraith in his classic The Great Crash tankona.free.fr/galbraith195...
There seems little question that in 1929, modifying a famous cliché, the economy was fundamentally unsound. This is a circumstance of first-rate importance. Many things were wrong, but five weaknesses seem to have had an especially intimate bearing on the ensuing disaster. They are: 1) The bad distribution of income. In 1929 the rich were indubitably rich. The figures are not entirely satisfactory, but it seems certain that the 5 per cent of the population with the highest incomes in that year received approximately one third of all personal income. The proportion of personal income received in the form of interest, dividends, and rent—the income, broadly speaking, of the well-to-do—was about twice as great as in the years following the Second World War. 10 This highly unequal income distribution meant that the economy was dependent on a high level of investment or a high level of luxury consumer spending or both. The rich cannot buy great quantities of bread. If they are to dispose of what they receive it must be on luxuries or by way of investment in new plants and new projects. Both investment and luxury spending are subject, inevitably, to more erratic influences and to wider fluctuations than the bread and rent outlays of the $25-a-week workman. This high-bracket spending and investment was especially susceptible, one may assume, to the crushing news from the stock market in October of 1929.
November 3, 2025 at 4:12 PM
Reposted
johnpfaff.bsky.social
Single smartest thing I think blue states could do is go on a MASSIVE home-building spree, bring down rents, and precipitate a massive multi-racial Second Great Migration.

Provide shelter for the sane and strip the lunatic states of their power in the House.
October 31, 2025 at 2:53 PM
Reposted
johnpfaff.bsky.social
2C. This is perhaps the most important one: law is NOT SELF-EFFECTING.

If the appellate op says "the law is X" and everyone settles as if the law says Y, or the police refuse to enforce X, or lawyers won't take cases based on X, then ... X isn't REALLY the law.
August 25, 2025 at 3:18 PM
Reposted
jamellebouie.net
and let me say that the quality and plausibility of those new doctrines beggars belief in how stupid they are. “buh buh the pre-clearance formula is unconstitutional because durr the constitution says you have to treat the states equally”

no, it doesn’t
August 2, 2025 at 6:14 PM