"Modern Monetary Policy" is basically a way to transfer money from the middle/working class to the poor and the rich. It's a way to squeeze out the middle. Wage growth will always lag behind inflation (by definition), and often differ significantly across different regions of the country. So when more money is printed, people living paycheck to paycheck lose out (unless they have some way to get at that printed money).
Meanwhile, the big winners are the very rich who have property/assets that can move with inflation (stocks, real estate, art...). The other winners are the bureaucrats, top contractors, and other corrupt officials who can get a piece of the printed money. And then the welfare recipients get a piece of it, but they have no incentive to get off welfare and switch to the workforce.
Yes; my opinion of Mr. Simchowitz started off ok until I read about MMT. Perhaps. Ms. Weiss should have mentioned the National Debt Clock that is at $34.5 trillion. And running. Yes, FP fans, that’s trillion with a “T”.
There are no winners with MMP as envisioned. The result of the trillions spent on Covid (under two administrations) is a small example of the inflation something like that theory would cause. Full on MMP would certainly transform this country alright - into Zimbabwe.
Or worse( yes, things can be worse but not by much) I guess he didn’t read up on the failed drug legalization in Oregon or the Netherlands a few years back. It would not stop the cartels either. I’d be for it if that were true. What he didn’t mention is the BORDER crises.
He’s no Republican and a fiscal moron. His idea of rounding up the homeless might be feasible but the ALCU would file lawsuits immediately. God forbid the strung out junkies or shuffling mentally impaired mumblers have their rights infringed even though their overwhelming presence on city streets infringes upon everyone else. Which reminds me of another mumbler in chief. If he’s too incompetent to stand trial then by the same logic he’s too incompetent to hold the most stressful office on the planet. DUH.
This guy doesn’t sound like he’s got all the right stuff and his ideas sound far more like socialism than capitalism. You can’t just keep printing more money. I can’t believe he’s a businessman if he doesn’t really grasp this.
He seems to get some of the failures of progressivism but seems too tone deaf to hear what he’s really saying. He reminds me of LBJ. Not a good look...
Another waste of FP space. This guy is obviously a wolf in sheep’s clothing who doesn’t even hesitate to declare so outright.
Could we please get a profile on someone who is really battling these policies that have destroyed the state where I was born and raised and which will soon drag America completely under the mud?
Yeah I was willing to give him a tumble and was turned off by the same thing. He needs to study the outcomes of his policy positions as thoroughly as he has the art world. They are indeed “infant.”
Me too. If you are smart enough to go to college, you should be smart enough to realize that you are taking out a loan that you will need to repay. Nothing is free, we the taxpayers are footing the bills.
Nothing should be free, it is important to have skin in the game for one´s dignity.
My sense was that Simchowitz doesn't really have a deep understanding of civilizational levers, and more that he's upset because HIS world has been violated. That's consistent with progressives I know that come face to face with progressive policy failures. They admit a discrete failure they've experienced first hand, but don't see how their belief set is responsible for so much chaos across many other policy outcomes unless they experience it directly.
Exactly. NIMBY mentality although he’s probably got a better chance than Garvey. Maybe some of the more literate Dems might recognize he’s no Republican. I just hate Adam Schiff so much that I’d root for this guy, but any other real republicans, even never Trumpers, would vote for Garvey so a snow cone in hell stands a better chance of survival.
I'm afraid Garvey has no chance in deep blue California. Not a single Republican has won statewide office there since Schwarzenegger in 2007. Democrats have a 2:1 voter registration advantage. They know California isn't doing well, but it CAN'T be their policies or political philosophy. It must be something Trump did, or maybe the Koch brothers... The shallow sheep that are many American voters who want a lazy unaccountable lifestyle keep voting for politicians who are - surprise - lazy and unaccountable.
He’s another narcissistic nut job. The are a number of them every election cycle and unfortunately sometimes win.
Many ppl think Trump is too and to some extent, that’s true but at least DJT supports the causes of the American working class.
Ppl who won’t vote for Trump because he’s an arrogant loud mouth are missing the point. A huge swath of his supporters understand that he’s maybe rather rough around the edges yet he is still the only fair chance of getting america back on the right track.
I’ll take mean tweets over open borders and runaway bureaucratic oversight.
Thank you; my sentiments exactly upon reading this waste of my time. The article advertised a bit more than it delivered. I can never get that time back.
This article is too shallow. While I know why I'm against DEI, etc, I don't know why Simchowitz is and what he would do about it. Regardless, he lost me at forgiving student loan debt and his reason behind it. Biden's plan absolves the debt of those with 6 figure salaries that, if I'd been earning that much, could have paid off my debt in a year. Now that I finally got out of debt I have to pay the debt of others, including those with salaries twice what mine was. No thanks. I'll pass.
IKR? I do think that community college should be mostly free. The cost of a college education is ridiculous. The wealthy universities should have to suck up the student debt, especially for the degrees that will never result in a good paying career. They might then see the wisdom in firing the excessive administrators and save hundred of thousands or more but somehow wisdom is in short supply in college administration.
Community college or any college should not be free. There has been enough babysitting of disengaged students in high school…let it end at 12th grade. When the person is ready to come back, they will enjoy the opportunity to be a part of an interested and engaged learning experience with other students who want to also learn.
Community college at a too low cost allows students to sign up for a class that they never attend because there is no financial impact. The problem with students who never or just briefly show to class is they are taking the place of a student who needs that class and wants to attend. The impact of no shows creates a bottle neck in many required core introductory courses.
Why should community college be "mostly free." Let those who are getting the education pay for it rather than someone else. We don't need more "free" programs. Quid pro quo.
He’s also an ardent proponent of modern monetary theory, which holds that the government should be able to print and spend endless money to alleviate unemployment and boost the economy.
I'm no economist, but I'm quite sure this is a terrible idea. This idea shows a basic lack of understanding of what one learns in Econ 101.
The hypocrisy of the left IS unfathomable. Sanctuary cities is one example. But I've always pointed out the (ab)use by Universities of "Adjuncts". They often work several gigs and get paid poorly and no benefits. But the people who inhabit these institutions will lecture the rest of us about a "living wage" and then not pay such.
They are complete hypocrites. The ironic thing that is that most of those exploited adjuncts are going to vote the same way as their Leftist masters. Hoping, I think, to get more crumbs as the welfare state expands.
I spent four years as an adjunct at our local community college. The then-college-president wanted to replace retiring professors with MORE adjuncts. The faculty rebelled (the end result, after another year, was a 92% no-confidence vote and her resignation), and she was forced to hire professors to replace the outgoing ones. Contrary to established policy, I was not given even a courtesy interview for the full-time position (despite being a very good and very popular teacher), because I was too strongly associated with the rebels (even though I had no vote or input).
Yea they are adept at attracting the people who want all the freebies. The very wealthy too because they feel righteous about supporting politicians who prop up social welfare. It makes them feel morally superior and they aren’t the ppl struggling to make ends meet.
They could care less about how that mentality and the policies that promote it affect the middle class.
BTW your response to my comment about free community college did convince me that it’s not such a great idea. Sound logic is what matters to me and is the biggest motivator of my ideas.
I’m not so arrogant that I can’t admit when I’m wrong. I thank you for your rational analysis.
What I love about the comment section is additional food for thought.
I went back to refresh and update some job skills at community college and was wait listed a few times. Finally got in and saw students dropping the class in droves despite a great teacher who really knew and could explain the technology. Was the class so cheap that it didn't have value? Wondering if a pay for the class and then getting a refund for successful completion plan could possibly work.
I also understand your point of access to a better education and better life. I think that we agree that it is not right that students who are wanting to learn are being denied an advanced education. They and society lose when they don't get the education.
Eliminating unemployment. Is he kidding? Is he going to make employment mandatory? Look at the economy of the Soviet Union with 100% employment, which caused low productivity, no entrepreneurship, loss of talent due to lack of competition. We can go on forever. Workers received equal salary regardless of how productive or creative they were: good engineers and those who made engineering mistakes; talented teachers and those who lacked education themselves; dedicated doctors who saved lives and those who may have caused harm - all got paid the same miserable pennies. You can’t pay more when everyone is employed. Equality in action. This was the cause of brain drain from socialist countries.
Add to it that «parasitism” was punishable by law (dissidents who lost jobs because of political convictions were persecuted and sentenced under it) and that there was no welfare system to support those unable to work.
The guy is ignorant of history and economics and has such a mishmash in his head. There is so much more we could say about employing everyone in this country. He is delirious.
I know. But I think being fuzzy on facts is extremely dangerous. We already have a traveling circus on our political scene. Why add more clowns? The only thing he is right about is that our country is falling apart. Half-witted clowns running for election is distracting IMO.
There was an experiment a long time ago now where a high school teacher announced she would give everyone an “A” on a test. The usually hard working “A” students uncharacteristically did just as poorly as the students who didn’t normally put the effort in to perform well.
When’s there’s no reward for working hard at something I guess human nature is likely to place less value in it . Anything gotten for nothing is never as dear as something you’ve worked hard for but materialism is empty in its own way. A castle that is devoid of ppl who love is just an organized pile of cold hard stone. I try not to love “things” with the exception of gifts given in love from someone I love and know it meant a lot to them to be able to give it. Those things I value. Most of the rest is just stuff.
Anyway what would a centrist progressives do, ask us nicely to validate & accept their worldview & agenda or they will set the far left progressive extremists on us. Sounds like a stand over merchant.
A “centralized, entrepreneurial government” is a non-sequitur and a fantasy. He doesn’t mention the core problem for Democrats: they have doubled down on their ideology of envy, and widespread envy is never going to be good for Jews, a population that ought to be valued for their academic, economic, and professional contributions to American life.
Stefan Simchowitz has a schizophrenic political philosophy to say the least. Only a fantasy thinker could believe that a centralized (and authoritarian) government can solve the legitimate problems we face.
He hasn't been mugged by reality. Instead, he's been able to create his own fantasy version of 'reality.' Then again, if we compare him to Adam Schiff, he looks pretty good.
"What is a conservative? A liberal who has been mugged."
I don't know the origin of that quote but it was a staple of talk radio in the 1970s. I would say that Simchowitz woke up and smelled the roses but as the article reveals, he smelled something entirely different. He's not a true conservative; he doesn't have the stomach to do the job; just another poser.
Me too. It resembles the sort of hat that early Western stars like William S. Hart wore -- but maybe I'm missing some particulars and it's actually South African.
"Modern Monetary Policy" is basically a way to transfer money from the middle/working class to the poor and the rich. It's a way to squeeze out the middle. Wage growth will always lag behind inflation (by definition), and often differ significantly across different regions of the country. So when more money is printed, people living paycheck to paycheck lose out (unless they have some way to get at that printed money).
Meanwhile, the big winners are the very rich who have property/assets that can move with inflation (stocks, real estate, art...). The other winners are the bureaucrats, top contractors, and other corrupt officials who can get a piece of the printed money. And then the welfare recipients get a piece of it, but they have no incentive to get off welfare and switch to the workforce.
MMP = Make Middle-class Poor
Perfect! You are clever..
Yep
I was going to comment, but you nailed it!
Yes; my opinion of Mr. Simchowitz started off ok until I read about MMT. Perhaps. Ms. Weiss should have mentioned the National Debt Clock that is at $34.5 trillion. And running. Yes, FP fans, that’s trillion with a “T”.
There are no winners with MMP as envisioned. The result of the trillions spent on Covid (under two administrations) is a small example of the inflation something like that theory would cause. Full on MMP would certainly transform this country alright - into Zimbabwe.
Or worse( yes, things can be worse but not by much) I guess he didn’t read up on the failed drug legalization in Oregon or the Netherlands a few years back. It would not stop the cartels either. I’d be for it if that were true. What he didn’t mention is the BORDER crises.
He’s no Republican and a fiscal moron. His idea of rounding up the homeless might be feasible but the ALCU would file lawsuits immediately. God forbid the strung out junkies or shuffling mentally impaired mumblers have their rights infringed even though their overwhelming presence on city streets infringes upon everyone else. Which reminds me of another mumbler in chief. If he’s too incompetent to stand trial then by the same logic he’s too incompetent to hold the most stressful office on the planet. DUH.
This guy doesn’t sound like he’s got all the right stuff and his ideas sound far more like socialism than capitalism. You can’t just keep printing more money. I can’t believe he’s a businessman if he doesn’t really grasp this.
He seems to get some of the failures of progressivism but seems too tone deaf to hear what he’s really saying. He reminds me of LBJ. Not a good look...
Another waste of FP space. This guy is obviously a wolf in sheep’s clothing who doesn’t even hesitate to declare so outright.
Could we please get a profile on someone who is really battling these policies that have destroyed the state where I was born and raised and which will soon drag America completely under the mud?
I lost all interest when he said cancel student debt and free healthcare for all.
Yeah I was willing to give him a tumble and was turned off by the same thing. He needs to study the outcomes of his policy positions as thoroughly as he has the art world. They are indeed “infant.”
Me too. If you are smart enough to go to college, you should be smart enough to realize that you are taking out a loan that you will need to repay. Nothing is free, we the taxpayers are footing the bills.
Nothing should be free, it is important to have skin in the game for one´s dignity.
lol. it took you that long. ??
My sense was that Simchowitz doesn't really have a deep understanding of civilizational levers, and more that he's upset because HIS world has been violated. That's consistent with progressives I know that come face to face with progressive policy failures. They admit a discrete failure they've experienced first hand, but don't see how their belief set is responsible for so much chaos across many other policy outcomes unless they experience it directly.
Exactly. NIMBY mentality although he’s probably got a better chance than Garvey. Maybe some of the more literate Dems might recognize he’s no Republican. I just hate Adam Schiff so much that I’d root for this guy, but any other real republicans, even never Trumpers, would vote for Garvey so a snow cone in hell stands a better chance of survival.
Yes, someone like STEVE GARVEY. I was wondering why this outlier was getting so much print, until I read "he's Jewish".
Heaven forbid TFP shine a light on the first Republican challenger (Garvey) in 32 years that might have a shot at the Senate seat.
While I agree with his distain of the lefts "values", I wonder why he doesn't just throw his over-sized hat into Garveys ring.
I'm afraid Garvey has no chance in deep blue California. Not a single Republican has won statewide office there since Schwarzenegger in 2007. Democrats have a 2:1 voter registration advantage. They know California isn't doing well, but it CAN'T be their policies or political philosophy. It must be something Trump did, or maybe the Koch brothers... The shallow sheep that are many American voters who want a lazy unaccountable lifestyle keep voting for politicians who are - surprise - lazy and unaccountable.
🤯I am shocked! You left out stupid, lazy and unaccountable.
My thoughts exactly.
He’s another narcissistic nut job. The are a number of them every election cycle and unfortunately sometimes win.
Many ppl think Trump is too and to some extent, that’s true but at least DJT supports the causes of the American working class.
Ppl who won’t vote for Trump because he’s an arrogant loud mouth are missing the point. A huge swath of his supporters understand that he’s maybe rather rough around the edges yet he is still the only fair chance of getting america back on the right track.
I’ll take mean tweets over open borders and runaway bureaucratic oversight.
Since Simchowitz is candid about his opinions, perhaps he's better described as "a wolf in wolves' clothing"?
Thank you; my sentiments exactly upon reading this waste of my time. The article advertised a bit more than it delivered. I can never get that time back.
This article is too shallow. While I know why I'm against DEI, etc, I don't know why Simchowitz is and what he would do about it. Regardless, he lost me at forgiving student loan debt and his reason behind it. Biden's plan absolves the debt of those with 6 figure salaries that, if I'd been earning that much, could have paid off my debt in a year. Now that I finally got out of debt I have to pay the debt of others, including those with salaries twice what mine was. No thanks. I'll pass.
IKR? I do think that community college should be mostly free. The cost of a college education is ridiculous. The wealthy universities should have to suck up the student debt, especially for the degrees that will never result in a good paying career. They might then see the wisdom in firing the excessive administrators and save hundred of thousands or more but somehow wisdom is in short supply in college administration.
Community college or any college should not be free. There has been enough babysitting of disengaged students in high school…let it end at 12th grade. When the person is ready to come back, they will enjoy the opportunity to be a part of an interested and engaged learning experience with other students who want to also learn.
Community college at a too low cost allows students to sign up for a class that they never attend because there is no financial impact. The problem with students who never or just briefly show to class is they are taking the place of a student who needs that class and wants to attend. The impact of no shows creates a bottle neck in many required core introductory courses.
You make good points.
Why should community college be "mostly free." Let those who are getting the education pay for it rather than someone else. We don't need more "free" programs. Quid pro quo.
He’s also an ardent proponent of modern monetary theory, which holds that the government should be able to print and spend endless money to alleviate unemployment and boost the economy.
I'm no economist, but I'm quite sure this is a terrible idea. This idea shows a basic lack of understanding of what one learns in Econ 101.
Sounds like you’re a better economist than he is.
The hypocrisy of the left IS unfathomable. Sanctuary cities is one example. But I've always pointed out the (ab)use by Universities of "Adjuncts". They often work several gigs and get paid poorly and no benefits. But the people who inhabit these institutions will lecture the rest of us about a "living wage" and then not pay such.
They are complete hypocrites. The ironic thing that is that most of those exploited adjuncts are going to vote the same way as their Leftist masters. Hoping, I think, to get more crumbs as the welfare state expands.
I spent four years as an adjunct at our local community college. The then-college-president wanted to replace retiring professors with MORE adjuncts. The faculty rebelled (the end result, after another year, was a 92% no-confidence vote and her resignation), and she was forced to hire professors to replace the outgoing ones. Contrary to established policy, I was not given even a courtesy interview for the full-time position (despite being a very good and very popular teacher), because I was too strongly associated with the rebels (even though I had no vote or input).
I quit.
The rot in all education runs deep
Good point.
Simchowitz is a Democrat plant to water down the Garvey vote, in hopes that two disgustingly self-serving Dems will make the top two for November.
I'm laughing. You think Democrats are that smart?
Yes, they are quite skilled at gerrymandering in California.
Both parties are good at that game.
Yeah. I agree. They can play political chess but it ends there.
Democrats, esp this new breed, are thoroughly incompetent.
Agree their management and legislation are poor, but don't underestimate their ability to retain power.
Yea they are adept at attracting the people who want all the freebies. The very wealthy too because they feel righteous about supporting politicians who prop up social welfare. It makes them feel morally superior and they aren’t the ppl struggling to make ends meet.
They could care less about how that mentality and the policies that promote it affect the middle class.
BTW your response to my comment about free community college did convince me that it’s not such a great idea. Sound logic is what matters to me and is the biggest motivator of my ideas.
I’m not so arrogant that I can’t admit when I’m wrong. I thank you for your rational analysis.
What I love about the comment section is additional food for thought.
I went back to refresh and update some job skills at community college and was wait listed a few times. Finally got in and saw students dropping the class in droves despite a great teacher who really knew and could explain the technology. Was the class so cheap that it didn't have value? Wondering if a pay for the class and then getting a refund for successful completion plan could possibly work.
I also understand your point of access to a better education and better life. I think that we agree that it is not right that students who are wanting to learn are being denied an advanced education. They and society lose when they don't get the education.
What a character. No thanks to having this guy in the Senate, but it’s an interesting take on the type of people who are changing the way they vote.
Dear Suzanne, If you are willing to accept the clownish costumed useless waste of carbon at face value.
he and Musk both from SA. how different can they be
I read the whole article and I see the hypocrisy of Stefan Simchowitz.
Dear Ken, That takes one look at the photograph of the pompous fark and one paragraph for confirmation.
but ...but ....the hat
All hat and no cattle!
Love that “pompous fark”. Imma steal that one but I’ll always remember where it came from.
To clarify, fine & dandy with his luxury beliefs, didn’t give a stuff who they effected until they started to effect him.
The “art” says it all
Eliminating unemployment. Is he kidding? Is he going to make employment mandatory? Look at the economy of the Soviet Union with 100% employment, which caused low productivity, no entrepreneurship, loss of talent due to lack of competition. We can go on forever. Workers received equal salary regardless of how productive or creative they were: good engineers and those who made engineering mistakes; talented teachers and those who lacked education themselves; dedicated doctors who saved lives and those who may have caused harm - all got paid the same miserable pennies. You can’t pay more when everyone is employed. Equality in action. This was the cause of brain drain from socialist countries.
Add to it that «parasitism” was punishable by law (dissidents who lost jobs because of political convictions were persecuted and sentenced under it) and that there was no welfare system to support those unable to work.
The guy is ignorant of history and economics and has such a mishmash in his head. There is so much more we could say about employing everyone in this country. He is delirious.
As the article points out, Simchowitz is fuzzy on facts.
I know. But I think being fuzzy on facts is extremely dangerous. We already have a traveling circus on our political scene. Why add more clowns? The only thing he is right about is that our country is falling apart. Half-witted clowns running for election is distracting IMO.
There was an experiment a long time ago now where a high school teacher announced she would give everyone an “A” on a test. The usually hard working “A” students uncharacteristically did just as poorly as the students who didn’t normally put the effort in to perform well.
When’s there’s no reward for working hard at something I guess human nature is likely to place less value in it . Anything gotten for nothing is never as dear as something you’ve worked hard for but materialism is empty in its own way. A castle that is devoid of ppl who love is just an organized pile of cold hard stone. I try not to love “things” with the exception of gifts given in love from someone I love and know it meant a lot to them to be able to give it. Those things I value. Most of the rest is just stuff.
Sorry, went pretty far off the rails on that one.
Can’t say I would trust anyone who admits they are a progressive even if they have been “mugged by reality”. The Trojan Horse comes to mind.
Not to mention, how can you be a "centrist progressive"??? Seems to cancel itself out.
A bit like saying “I’m a centrist Islamist”.
Anyway what would a centrist progressives do, ask us nicely to validate & accept their worldview & agenda or they will set the far left progressive extremists on us. Sounds like a stand over merchant.
Yes it does.
A “centralized, entrepreneurial government” is a non-sequitur and a fantasy. He doesn’t mention the core problem for Democrats: they have doubled down on their ideology of envy, and widespread envy is never going to be good for Jews, a population that ought to be valued for their academic, economic, and professional contributions to American life.
well said. That is my core problem with Democrats. Neither like nor trust Trump (at alll) but I will be voting for Republicans this time
Stefan Simchowitz has a schizophrenic political philosophy to say the least. Only a fantasy thinker could believe that a centralized (and authoritarian) government can solve the legitimate problems we face.
He hasn't been mugged by reality. Instead, he's been able to create his own fantasy version of 'reality.' Then again, if we compare him to Adam Schiff, he looks pretty good.
I still can’t figure out how that pencil neck holds up that bowling ball of head on Adam Schrift.
"What is a conservative? A liberal who has been mugged."
I don't know the origin of that quote but it was a staple of talk radio in the 1970s. I would say that Simchowitz woke up and smelled the roses but as the article reveals, he smelled something entirely different. He's not a true conservative; he doesn't have the stomach to do the job; just another poser.
'Twas Irving Kristol who coined it.
I'll pass, thank you.
I do appreciate a good hat
Me too. It resembles the sort of hat that early Western stars like William S. Hart wore -- but maybe I'm missing some particulars and it's actually South African.
I believe it is a newer Stetson model made out to look like a vintage cowboy hat. He has a nice band on it, too.
This guy is dangerous.
This guy is an idiot. I can appreciate his disdain for snooty artsy fartsy types but it ends there.
He cares about himself maybe but I think it’s moot. He wouldn’t get elected dog catcher.