John Carney (read Tim’s book: Family Unfriendly) Profile Banner
John Carney (read Tim’s book: Family Unfriendly) Profile
John Carney (read Tim’s book: Family Unfriendly)

@carney

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Read my brother’s new book, Family Unfriendly by Timothy P. Carney.

Among all the lost causes.
Joined March 2007
Don't wanna be here? Send us removal request.
@carney
John Carney (read Tim’s book: Family Unfriendly)
9 months
@jyarow And not just in Ukraine but right up on the war-fighting front.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
6 months
@Jason What's weird is that this isn't a recession. The economy is growing at a jaw-dropping rate, unemployment is non-existent, and asset prices are rising.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
12 days
Wearing masks. When I asked why the student protesters were wearing masks, I was told it was to protect their identity. But these are professors and that’s not going to work. They are wearing them as political totems.
@JoshuaPHilll
Read Let This Radicalize You
13 days
NYU faculty creating a ring around the Gaza solidarity encampment to protect their students after the school threatened mass arrest. So beautiful.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
14 days
@JamesSurowiecki A Democratic convention in Chicago in the middle of a leftwing youth uprising against a Democrat president’s foreign policy. What could go wrong?
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@carney
John Carney (read Tim’s book: Family Unfriendly)
24 days
@DKThomp Turned out standardized tests predict student performance pretty well.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
24 days
This is correct and it is seriously dangerous. It will make all future attempts to stave off economic disaster much more difficult. And it is being done for stupid, partisan reasons. Completely unnecessary and not even well thought out. They're ruining policy to troll.
@SaysSimonson
Joe Gabriel Simonson
24 days
Precedent set: if you accept cash transfers from the federal government, the White House will name and shame you during policy disputes. Can only assume the silence from the “norms” crew means they understand — and endorse — this new reality.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
8 months
Inflation has made us all think a $17.50 burger is fine.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
20 days
@Chris_arnade A lot more people have migrated from crowded European cities to the US than vice versa, so it’s historically true. And, in fact, it’s still true that net migration is into the U.S. from Europe.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
8 months
Bidenomics Broke America: Real Household Income Suffers Biggest Drop In 12 Years via @BreitbartNews
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@carney
John Carney (read Tim’s book: Family Unfriendly)
3 months
Eliminating snow days in favor of required remote learning days is a scam. It’s an untested educational innovation that allows school systems to claim they had a day of school when they really didn’t. And it deprives kids of the joy of a day off to play in the snow. Don’t do it.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
4 months
Nah. It’s actually very good even if you include that. Certainly, you shouldn’t compare it to periods that did not involve pandemics.
@axios
Axios
4 months
Trump supporters cite his economic record as a reason to vote for him, but that's a bit puzzling. Because his economic record is only good if you leave off what happened from March 2020 to the end of his administration.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
2 months
@SullyCNBC Need film and transcript of this. Seems pretty important if Biden is going to start making monetary policy calls.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
3 months
A good test: ask which Democrat constituencies are opposed to the deal. If it is not being adopted over special interest opposition, that suggests the Dem SIs got what they wanted. Certainly seems GOP lawmakers are being asked to go against their constituencies, though
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@carney
John Carney (read Tim’s book: Family Unfriendly)
2 months
This is almost unbelievable.
@TPCarney
Tim Carney
2 months
This one’s golden.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
2 months
Couldn't have happened to a nicer company... Kellogg‘s Faces Boycott After CEO Pushes ‘Cereal for Dinner‘ in Response to Inflation via @BreitbartNews
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@carney
John Carney (read Tim’s book: Family Unfriendly)
5 months
Stick a fork in 'Bidenomics'...it's done. Biden‘s Economic Approval Rating Tumbles Down Near All-Time Low via @BreitbartNews
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@carney
John Carney (read Tim’s book: Family Unfriendly)
2 months
Biden’s last year is going to be more fun than I thought. Here he combines one of his dumbest claims, that inflation is caused by corporate greed, with one of the biggest jokes in Washington—a task force will solve it! Greedflation task force!
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@carney
John Carney (read Tim’s book: Family Unfriendly)
7 months
@Cernovich The only young men in men’s groups are in recovery.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
7 months
The first sign of softening in the labor market is a decline of multiple job holders.
@exec_sum
Exec Sum
7 months
BREAKING: Goldman Sachs CEO, David Solomon, to give up DJ gigs at high-profile events
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@carney
John Carney (read Tim’s book: Family Unfriendly)
3 months
@Heminator It’s very weird they don’t see the parallels.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 month
With all due respect, I don’t think the Sahm Rule works like this. It’s an indicator of a national recession that works off national unemployment. I don’t know if anyone has researched if a local 50 basis point rise indicates a local contraction or foretells a national slump.
@LizAnnSonders
Liz Ann Sonders
1 month
Good chunk of states (20) starting to trigger Sahm Rule (when 3m moving average of unemployment rate rises by 0.5 percentage points or more relative to its low during previous 12 months) ⁦ @Bloomberg ⁩ ⁦ @BLS_gov ⁩ ⁦ @UBS
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@carney
John Carney (read Tim’s book: Family Unfriendly)
9 months
@jyarow Probably for the best. If you can track the position, it's probably a good bet the Russians can also.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
3 months
@Chris_arnade I can spot some issues right away. 1) Too much house. $1.5M house for a family of four with a monthly vig of $6800 (mortgage, ins, taxes) is too much. 26% of their income after taxes. 2) Net salary should not net out 401k. 3) Expensive cars. 4) A lot of student debt.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
9 months
Wait. Was that the economics portion of the debate? Did I miss the part where they debated economics policy during that portion?
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@carney
John Carney (read Tim’s book: Family Unfriendly)
7 months
A few thoughts. 1. Student loan payments do not really restart today. The “on ramp” to required repayments starts today. 2. Nothing about repayments forces borrowers to take on more debt. 3. Plenty of borrowers took on more debt while payments were paused.
@NBCNews
NBC News
7 months
Student loan payments restart today, forcing borrowers to take on more debt and put off saving for retirement.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
10 days
Axios decides to scold the American people for wrongthink on immigration instead of just reporting what the opinion poll showed. The problem is that Axios is wrong and the public is right. Illegal immigrants are a net fiscal drain and illegal immigrant crime adds to total crime…
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@carney
John Carney (read Tim’s book: Family Unfriendly)
7 months
@ModeledBehavior Well, maybe. You are assuming there has been no substitution or crowding-out effects.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
7 months
This is really a weird thing to say. Does Biden really not remember that the PPP loans were designed as an employment support scheme and not primarily “relief” for businesses? Does he not remember that we ordered businesses to shut down for the public good?
@JoeBiden
Joe Biden
7 months
Some of the same Republicans in Congress who strongly opposed giving relief to students got hundreds of thousands of dollars of relief for themselves to keep their businesses open. I find this hypocrisy stunning.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
11 months
Wow. David Stevens, a longtime opponent of "recap and release" for GSEs, has flipped because of the risk of political manipulation of GSEs if they remain under government control. He makes a powerful argument. Worth considering.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
@EricRWeinstein I pointed out, nearly a decade ago, that there were no financial employees at all. No portfolio managers, no analysts, nothing.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
4 months
Merry Christmas!
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@carney
John Carney (read Tim’s book: Family Unfriendly)
8 months
Check me out on GB News! ‘They have nothing left!’ Oil to surge to $100 per barrel as Biden accused of major mistake
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
People keep saying that it is crazy to expect depositors to monitor bank risk. But we’re not talking about 99% of depositors. Up to $250k is money good and very few people have that kind of cash in a bank account. (And married couples can really have up to $1 million.)
@CliffordAsness
Clifford Asness
1 year
The moral hazard here is we’ve greatly reduced the incentive for depositors of any size now (250K my ***) to actually give a moments thought to the riskiness of where they’re putting their money. It’s not as bad as if we also let SBF off the hook. But it ain’t ok.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
2 months
As I and others have shown, it was a terrible bill that enshrined an entirely new and pervasive catch-and-release program that would have made the chaos at the border even worse. Schumer is smart enough to know this.
@SenSchumer
Chuck Schumer
2 months
Donald Trump deliberately sabotaged the strong, bipartisan border bill. Trump sabotaged a bill with new border personnel. Trump sabotaged a bill with improvements to asylum. Trump sabotaged a bill with the tools needed to bring order to the border.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
The big shift to HTM bond portfolios on bank balance sheets was predictably going to undermine confidence. How do I know? I predicted it 9 years ago.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 month
Powell just crushed the idea that the Fed should become a climate change cop.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
Whatever your feelings about Elon might be, this kind of responsiveness is impressive. It’s impossible to imagine one of the legacy automakers responding like this to a customer inquiry.
@elonmusk
Elon Musk
1 year
@TeslaDiva99 Tesla car temp is automatically kept within a safe range, even when the car appears “off”, in order to protect infants & pets. That said, it would be more convenient to keep the car “on” for entertainment & comfort if the camera detects occupants. We will make that change.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
2 months
This is nonsense. False equivalency that is either rooted in ignorance or deceptiveness. Maybe both. The PPP loans were forgivable on their terms if you met the criteria. Student loan forgiveness is not at all similar.
@RepAshleyHinson
Ashley Hinson
2 months
If you take out a loan, you pay it back. There’s no such thing as “canceling” student loan debt.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 month
@jessesingal Completely bizarre. It's not just accepted by mainstream researchers, it is the most well-established finding in intelligence science. We know intelligence is heritable with more certainty than we know anything else about intelligence.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
@JesseKellyDC 💯 The 2016 primary was great for Trump. The No primary of 2020 was not.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
7 months
There has been a growing sentiment on the right for sometime that perhaps cancel culture is here to stay, that the era of free speech is (regrettably) over. And if that’s so, then we need to fight to control the “community standards” not whine about being censored.
@mattyglesias
Matthew Yglesias
7 months
Can’t say it’s *surprising* exactly to see so many people on the “cancel culture is bad” to “let’s do cancel culture on behalf of Israel” pipeline but it’s something.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
24 days
There's also a deeper point here. Accepting one form of government aid should not, logically, mean that you have to support all forms. But this is what the Biden administration is claiming: if you received a PPP loan, you are ethically bound to support student loan forgiveness.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
Only if “elite” means “incompetent.” Nothing but disaster.
@WalshMike84
Mike Walsh 🌐
1 year
Still the most elite foreign policy team in history.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
3 months
@mattyglesias Who told this person babies need rigid routine?
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@carney
John Carney (read Tim’s book: Family Unfriendly)
30 days
We’re so back. Important thread. I often hear from my brothers and sisters on the right that “it’s all part time” or “everyone needs three jobs.” Guys, you are misreading the data.
@Claudia_Sahm
Claudia Sahm
2 months
Comment: "Why don’t economists ever talk about the fact that more and more workers at the lower end of the payscale have to work at more than one job to make a living? ... It seems to me that is a big reason why many don’t feel the economy is good right now." Facts:
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@carney
John Carney (read Tim’s book: Family Unfriendly)
4 months
Be wary of asset classes that require cheerleaders.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
@JohnWake @TheStalwart They’re also unlikely to have deposits above $250,000.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
2 months
@mucha_carlos This idea that everything is "all the same fight" is pretty destructive. All or nothing. No allies with dissenting views on anything. And it isn't just about "conservatives" either. It excludes liberal dissenters on abortion, transgenderism, "wealth equality," etc.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
7 months
@Indian_Bronson @LeaMaric You don't need to refrigerate tomatoes or apples, especially if you are not trying to preserve their freshness longer than a week.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
4 months
@Sander_vdLinden What's the evidence that it could not have been a bioweapon plot by the Chinese government?
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@carney
John Carney (read Tim’s book: Family Unfriendly)
2 months
‘Super Core‘ Inflation Soared In January, Worst In Nearly Two Years via @BreitbartNews
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 month
Guys, I don’t know how to break this to you but now there is no such thing as a …
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
What’s interesting to me is that McDonald’s prices are down in real terms. 46 cents in 1974 is $2.95 today.
@robenfarzad
Roben Farzad
1 year
McDonald's: 1974 prices #inflation #fastfood $MCD
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@carney
John Carney (read Tim’s book: Family Unfriendly)
5 months
@Chris_arnade @NateSilver538 There’s at least some version of the “no one ever got fired for buying IBM” effect happening.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
11 months
The modernist insurrection against Art Deco was a disaster.
@Culture_Crit
Culture Critic
11 months
America was supposed to be Art Deco. These are the 20 most iconic Art Deco buildings in the United States 🧵
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@carney
John Carney (read Tim’s book: Family Unfriendly)
3 months
I’m not a politics guy but in M&A you worry when the other side is too eager to do a deal. Makes you wonder what you might be missing. Democrat anger over GOP rejecting the border deal makes me think the Dems thought they had gotten the best of the GOP in the negotiations.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
11 months
If greed drives inflation, why did greed surge among used car dealers and then suddenly decline?
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
Ken Griffin: "It's amazing how schools devoid of woke ideology lead to happy children."
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@carney
John Carney (read Tim’s book: Family Unfriendly)
5 months
What is the most mismanaged large cap company today? I’ll go first: Disney. Incredible suite of products and intellectual property that its management has serially failed to execute on for years.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 month
I think I know what happened here. Investigation: $1.8 Billion Discovered in Mysterious Bank Account Belonging to South Carolina via @BreitbartNews
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@carney
John Carney (read Tim’s book: Family Unfriendly)
6 months
@TheStalwart WeWork thought it was Uber but it was Hertz.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
2 months
@mattyglesias Have you see what it is doing to the price of food in Manhattan hotels?
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@carney
John Carney (read Tim’s book: Family Unfriendly)
4 months
Unmitigated disaster. And, thankfully, dead on arrival.
@mattyglesias
Matthew Yglesias
4 months
These seem like good ideas to me — stricter border enforcement + more legal pathways for immigration.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
11 months
@jasonfurman Taylor Swift fan-analysts live in a nominal world and Bey's live in real.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
4 months
@karol I'd like to see them produce one movie or show for kids that doesn't include woke virtue signaling. I'm told that right now writers and producers believe that there is no point in even pitching shows that don't advance the woke perspective on things like gender and race.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
4 months
@IraStoll Seems insane to appoint him as co-chair.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
My 10-year-old daughter found $40 on the sidewalk outside of her school today. I explained to her that economics teaches us that is impossible but she kept showing me the money, as if that proved anything. I told her that was just anecdotal and repeating it doesn't make it data.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
1 year
Someone should invent a service that allows us to send short messages to one another when our audio chat rooms aren't working.
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@carney
John Carney (read Tim’s book: Family Unfriendly)
3 months
The wages of young people would be much higher if we had fewer immigrants, which would lead to higher rates of marriage and a higher birth rate. We’re depressing the cycle of native population growth by substituting—don’t say we’re “replacing” it with—growth through immigration.
@paulkrugman
Paul Krugman
3 months
Q: What share of the growth in labor force since the eve of the pandemic is accounted for by immigrants? A: All of it
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