5 ms·

Elizabeth Warren's Banking Sector Napalm

31 points by howard941 7y ago

marmadukester39 7y ago
Awesome. Good for her.
PKop 7y ago
Another smart position from Warren (again, relating to her understanding of how the financial sector has an outsized prominence in our economy): Devalue the (overvalued) US dollar: https://www.nytimes.com/2019/06/16/opinion/elizabeth-warren-dollar.html https://www.nytimes.com/2019/06/16/opinion/elizabeth-warren-... A common concern of vast swaths of middle America which appeals to both Trump voters and potential Warren voters is loss of industrial capacity / jobs / people / and stagnant wages. A huge cause of that (arguably orders of magnitude more than "free trade"/tariffs issues) is the imbalance of running the reserve currency and our dependance on capital inflows (bond market & wall street) to fund our trade deficit. Either we run a super strong reserve currency and have a financialized economy, or we close the trade deficit. We can't have both. But choosing to have a large capital account surplus and huge trade deficit is making a choice who the winners and who the losers are. It would be nice if more policy debates centered on that dynamic. Trade deficit / reserve currency tensions: https://qz.com/1266044/why-does-the-us-run-a-trade-deficit-to-maintain-the-dollars-privileged-position/ https://qz.com/1266044/why-does-the-us-run-a-trade-deficit-t... https://en.wikipedia.org/wiki/Triffin_dilemma https://en.wikipedia.org/wiki/Triffin_dilemma
BentFranklin 7y ago
She's the only one saying what needs to be said. Those bankers can go get honest jobs.
- rayiner 7y ago
  I wonder who gets to decide what is an "honest job." And how many of those people would consider much of tech to be "honest jobs."
867567838694 7y ago
Warren has a proven track record of being a complete moron when it comes to the economy and is a guaranteed trip to economic disaster.
- supercanuck 7y ago
  Your effort here is poor. Do better next time.
  - dang 7y ago
    Please don't respond to a bad comment with another bad comment. That just makes the thread even worse. That's why the site guidelines ask you to flag instead of replying. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- dang 7y ago
  Please don't take HN further into political flamewar. Also, please don't call names. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html

31 points by howard941 7y ago

Awesome. Good for her.

PKop 7y ago

Another smart position from Warren (again, relating to her understanding of how the financial sector has an outsized prominence in our economy): Devalue the (overvalued) US dollar: https://www.nytimes.com/2019/06/16/opinion/elizabeth-warren-dollar.html https://www.nytimes.com/2019/06/16/opinion/elizabeth-warren-... A common concern of vast swaths of middle America which appeals to both Trump voters and potential Warren voters is loss of industrial capacity / jobs / people / and stagnant wages. A huge cause of that (arguably orders of magnitude more than "free trade"/tariffs issues) is the imbalance of running the reserve currency and our dependance on capital inflows (bond market & wall street) to fund our trade deficit. Either we run a super strong reserve currency and have a financialized economy, or we close the trade deficit. We can't have both. But choosing to have a large capital account surplus and huge trade deficit is making a choice who the winners and who the losers are. It would be nice if more policy debates centered on that dynamic. Trade deficit / reserve currency tensions: https://qz.com/1266044/why-does-the-us-run-a-trade-deficit-to-maintain-the-dollars-privileged-position/ https://qz.com/1266044/why-does-the-us-run-a-trade-deficit-t... https://en.wikipedia.org/wiki/Triffin_dilemma https://en.wikipedia.org/wiki/Triffin_dilemma

BentFranklin 7y ago

She's the only one saying what needs to be said. Those bankers can go get honest jobs.

rayiner 7y ago
I wonder who gets to decide what is an "honest job." And how many of those people would consider much of tech to be "honest jobs."

867567838694 7y ago

Warren has a proven track record of being a complete moron when it comes to the economy and is a guaranteed trip to economic disaster.

supercanuck 7y ago
Your effort here is poor. Do better next time.
- dang 7y ago
  Please don't respond to a bad comment with another bad comment. That just makes the thread even worse. That's why the site guidelines ask you to flag instead of replying. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
dang 7y ago
Please don't take HN further into political flamewar. Also, please don't call names. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html