What strikes me about this is how it points implicitly to the difference between billionaires who build and billionaires who loot. That’s a distinction both corrupt MAGA and leftist demagogues need to think about.
Not just consumers. Tariffs walloped producers who needed intermediate goods and wrecked cross-border traffic between states like Maine and Michigan with Canada. Tariffs are bad but petulant toddler fit tariffs are even worse.
Republicans are blaming the Iran war and rising prices for this week's electoral shellacking. Fair enough. But the economic damage didn't begin with the war. It began with indiscriminate tariffs that amounted to a tax increase on American consumers.
Happy about all the wins tonight, but @JaneKim winning insurance commissioner is probably the most consequential loss for the state of California that broadly people don't even understand yet.
Like electing a vaccine denier to run the department of health.
Wild to think that Californians may have elected someone without any insurance experience whatsoever, and a lot of kooky (silly) ideas on the topic, to insurance commissioner, a position that plausibly has the most direct line to raising or lowering the cost of living.
Good thread, ending with a reminder of why Zev Yaroslavsky, now appearing as a wise man pundit in news articles about LA politics, should be remembered for crippling LA housing and commercial vitality.
Something feels a bit iffy about California prop 38.
Doing a popular vote proposed by a 3 person non-profit that gives said non profit $4.2B from the public!
I hope Gary is great and knows how to spend $4.2B well because it’s done.