Steve Roth

Steve Roth

@steveroth.bsky.social

Entrepreneur, progressive sometime 1%er. (Tax me more.) Addictive reader: trash to tomes. National-accounting & econ geek. Evolution and Shakespeare dweeb. Besotted father. From MO; show me the #s. https://wealtheconomics.substack.com/about

1.2K followers411 following3.8K posts

This tendency among many (?) of todays' self-described Socialists to reject, demean, or denigrate Social Democracy, as "selling out," is really depressing to me.

Dr. Samantha Hancox-Li@sjshancoxli.liberalcurrents.com

it is, quite famously, as a matter of explicit communist policy, the fact that the communist left refused to compromise with the social democrats (look up "social fascism") that allowed the *right* the space to bring hitler into power like this is all just straightforward lies

i’m just a random person trying to reply with a helpful suggestion but what can you do.

Charlotte Clymer@charlotteclymer.bsky.social

I would spend a small fortune for an app that blocked all Democratic fundraising texts to my phone forever.

Wealth growth and wealth concentration are self-perpetuating. Income growth is not. Asset holders get more assets — unearned income — just for having assets. Year-in and year-out, across lifetimes, generations, and dynasties.

More detail here on the new Fox News “I’m Concerned” survey here, Dems vs Pubs. I've highlighted a few issues. 🧵 ⬇️⬇️

Steve Roth@steveroth.bsky.social

Here Republicans-only: their biggest concerns in the new Fox poll. (Extremely + Very concerned.) 1. Corruption in government: 84% ‼️ 2. Inflation and high prices: 81% 3. Gas prices: 78% 4. Immigration: 78% 5. Crime: 77% 6. What's taught in public schools: 75% 7. Government leadership: 72% ... ⬇️

Note: realized the Difference column is broken (thanks, Hal). Should be Dem concern minus Pub concern, or the reverse. Adjust the +/- signs accordingly.

Humans cooperate on a scale greater than any other species, by far. It’s what got us to the top of the food chain. Every species competes. Competition is great. It's even necessary — but only to the extent that it causes cooperation.

Here Republicans-only: their biggest concerns in the new Fox poll. (Extremely + Very concerned.) 1. Corruption in government: 84% ‼️ 2. Inflation and high prices: 81% 3. Gas prices: 78% 4. Immigration: 78% 5. Crime: 77% 6. What's taught in public schools: 75% 7. Government leadership: 72% ... ⬇️

Aman Batheja@amanbatheja.bsky.social

Remarkable outcome in Fox News' latest poll: 88% of U.S. voters say they are extremely or very concerned about corruption in government, beating every other issue including inflation www.foxnews.com/politics/fox...

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They're not concerned about voter suppression (#13), but they're not very concerned about voter fraud either (#10). Overall (extremely or very) *concerned* level across all 13 questions: Dems 73% average Pubs 71%

Here Republicans-only: their biggest concerns in the new Fox poll. (Extremely + Very concerned.) 1. Corruption in government: 84% ‼️ 2. Inflation and high prices: 81% 3. Gas prices: 78% 4. Immigration: 78% 5. Crime: 77% 6. What's taught in public schools: 75% 7. Government leadership: 72% ... ⬇️

Aman Batheja@amanbatheja.bsky.social

Remarkable outcome in Fox News' latest poll: 88% of U.S. voters say they are extremely or very concerned about corruption in government, beating every other issue including inflation www.foxnews.com/politics/fox...

Steve Roth reposted

❗❗❗Mark Zuckerberg's meta just suspended the No Kings Instagram account. I just rushed back from my local No Kings to jump on this. Bottom line, would be helpful for all pro-No Kings folks to elevate the issue and help us get the word out about No Kings today. The Nerd Reich strikes again.

Revisiting this polling result, especially top, #1 result. Is the Right getting wise to what's going on? Wd love to hear from polling experts/analysts on this one.

Mike Nellis@mikenellis.bsky.social

Fox’s new poll says corruption is the number one issue for voters in November. People are pissed about the economy, gas prices, healthcare, and so much else, but they fundamentally understand that the reason everything is getting worse is the rampant, unprecedented corruption of Trump and the GOP.

Many orgs and movements I come across that seem like they're "in my ballpark" fail to even engage with the fundamental conflict at the heart of both classical and modern "liberalism": Between human rights and property rights.

I asked Hal about how it seems to get confused and offer up what I'll (for brevity) call nonsense. One of its answers also seems to describe humans very well: "the kind of confusion where I’ve misunderstood without realizing it is the kind I’m least able to report." Feel familiar?

I really enjoy reading guy. “Your average neuron has about ten thousand to fifty thousand dendritic spines and about the same number of axon terminals. Factor in a hundred billion neurons, and you see why brains, rather than kidneys, write good poetry.”

penguinrandomhouse.comDetermined by Robert M. Sapolsky: 9780525560999 | PenguinRandomHouse.com: BooksThe instant New York Times bestseller “Excellent . . . Outstanding for its breadth of research, the liveliness of the writing, and the depth of humanity it conveys.” –Wall Street Journal...

"You have, by proclamation and your continued use of our services, sublicensed all contributors' work on your website, to us." Lawyers: A valid contract requires "consideration," right?

Wow this is good news., government corruption is number one, voter fraud and border security dead last.

Mike Nellis@mikenellis.bsky.social

Fox’s new poll says corruption is the number one issue for voters in November. People are pissed about the economy, gas prices, healthcare, and so much else, but they fundamentally understand that the reason everything is getting worse is the rampant, unprecedented corruption of Trump and the GOP.

This is def a great ad, but it’s only necessary because DSA slapped the Kick-Me-Now “socialists” sign on our backs, while Social Democrats was lying on the ground waiting to be picked up. Still is.

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Odd labeling in the Fed's balance sheet for Corporate Nonfinancial Firms. shorturl.at/HRpMT "Net worth (market value)" means: 1. nonfinancial assets (real-world "capital" holdings) are posted at current replacement cost, & financial assets are (necessarily) posted at current market value. 1/

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Book equity likewise has ~zero import, because firms’ Market:Book ratios wander all over the map. For better or for worse, Shareholders’ Equity @ current market equity prices (which you'll see as an asset on the HHs + ROW sectors) is the only feasible measure of what corps are “worth.” /3

Odd labeling in the Fed's balance sheet for Corporate Nonfinancial Firms. shorturl.at/HRpMT "Net worth (market value)" means: 1. nonfinancial assets (real-world "capital" holdings) are posted at current replacement cost, & financial assets are (necessarily) posted at current market value. 1/

Key missing words: "Shareholders' Equity". The possessive apostrophe says it all: firms don't "own" their own Net Worth. HH shareholders (& ROW) do. This measure is "book" equity. Not "Net Worth." The next measure is "market equity." The "historical cost" measure has no import at all. /2

Steve Roth reposted

"A brand new CNN poll shows President Trump at an all time low in his approval rating... look at his net approval rating now with pure independents - it's negative 71 points! I mean, these are the deep depths of the ocean. You never see numbers like these. An 86 point shift away from the president!"

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Jake Grumbach@jakemgrumbach.bsky.social

New working paper: the Norwegian wealth tax was a huge success. The "exodus" of wealthy people never happened (less than 100 individuals left). Tax revenue increased by 71.5%. No changes in business activity or investment. www.nber.org/papers/w35854

I don't think most people realize: The Great Wealth Dispersal in the US, 1930s–70s, was Unprecedented, Epochal, ~Unheard of in world history. New Deal, WWII def spending, & Medicare/Medicaid. Result: over 30 years, the greatest *widespread* prosperity growth in US history, before or since. /1

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The wealth disparity today vs workers' income is unimaginably beyond 1970s or even 1920s wealthholders and workers. When they're big enough, differences of degree are difference of kind. In this case, difference of kindness.

The key mechanism here: asset holders receive property income for just holding assets. (Both "yield" — ~interest and dividends — plus gains from asset revaluation/asset-price runups.) That is a self-perpetuating and increasing cycle, unlike the growth in labor income.

I don't think most people realize: The Great Wealth Dispersal in the US, 1930s–70s, was Unprecedented, Epochal, ~Unheard of in world history. New Deal, WWII def spending, & Medicare/Medicaid. Result: over 30 years, the greatest *widespread* prosperity growth in US history, before or since. /1

But the pushback was fierce: Mont Pellerin Society, The Powell Memo, a ~half-century of Reaganomics. Pre-’80 wealth grew faster than income, but that change was ~zero compared to the 50-year Reaganomics era. /2