"Econ 102" with Noah Smith and Erik Torenberg Explaining Kamala’s VP Pick, the US Economy, Venezuela’s Fall and China’s Rise
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Aug 7, 2024 The hosts dive into the implications of Kamala Harris's VP pick and its effect on working-class voters. They analyze recent stock market fluctuations and the economic challenges posed by rising interest rates. The discussion then shifts to Venezuela's dramatic collapse, highlighting mismanagement and leadership failures. Finally, they explore East Asia's economic successes, emphasizing China's advancements in technology and innovation, while drawing comparisons with the U.S. economy.
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Surprising VP Pick
- Kamala Harris chose Tim Walz as her VP pick, surprising some who expected Shapiro or Kelly.
- This might signal strength, allowing Harris to double down on her existing base.
Democrats' Return to Normalcy
- Democrats are employing a "return to normalcy" strategy, reminiscent of Reagan's 1984 campaign.
- This message resonates given the current economic data, which is better than in 1984.
The Weirdness Discourse
- Republicans feel targeted by the "weirdness" discourse as it highlights their shift from mainstream to outsider culture.
- The rise of knowledge industries and the internet flipped the traditional social hierarchy.