Olivia
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Innocent Baguma
@omusigi
UG
Joined February 2011
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@mkainerugaba Old kireka road via kinawataka, starting at silver springs bugolobi
@CarlHigbie You are a disgrace to humanity!
The @Bad_Natives_Pod is back. We talked about what next after the upcoming election in Uganda with @AndrewMwenda. Doing this with @cobbo3 as well was a tad nostalgic. Enjoy this episode & let me know if we should do another after the election
BNP 041: Stability, Stagnation, Blood and Ballots: Uganda’s Museveni See... https://t.co/BJUWQpjgbu via @YouTube
Who to follow
Gerald Kisongoch
@gkjether
Resilient, empathic, loves African countryside and culture, techy for comms.
Joseph K Kephas
@JoseKephas
Pro-Lifer | Ugandan | Culture | Civil Engineering | Health | Lifestyle | Family | CATHOLIC
Dr Tom Henry Ogwang
@gnawgo
Lecturer, Gulu University - interested in Curriculum and Pedagogy studies
🇺🇸JEFFREY SACHS:
"Tariffs are going to lower living standards.
They're going to wreck the US economy, and they're being put on for unbelievably bizarre and mistaken reasons that are completely fallacious.
Let me explain.
The United States runs a large deficit in its trade in goods and services — what's called the current account of the United States — and that deficit is about a trillion dollars.
Trump says, 'Oh, that's because other countries are ripping off the United States.'
I can't even begin to say how absurd that line is.
[The word is childish.]
Running a current account deficit means — and it means precisely — that the United States is spending more than it's producing. That's what leads to a deficit. You spend more than you produce.
And we spend more than we produce because we have very low saving in this country. We have an enormous budget deficit.
So the government is like the national credit card — it runs on credit.
It transfers money, pays for wars, pays for Israel’s wars, pays for military bases in 80 countries around the world, pays for that more than a trillion-dollar-a-year military establishment, and hundreds of billions more of associated spending on the military-industrial complex.
And it gives tax cuts for the richest Americans.
It allows for tax evasion by the richest Americans — and I mean evasion, because it doesn't do audits, and it guts enforcement of the tax laws.
So we hemorrhage deficits and have rising public debt.
And because of all that, the spending of our country is much larger than our national income.
It’s a trillion dollars more than national income.
It is exactly the imbalance of our imports of goods and services over our exports of goods and services.
All of this is to say that what Trump calls a 'ripoff' is just the absolute irresponsibility of the political class in Washington.
It's a corrupt, plutocratic gangsterism that gives away the taxes and tax cuts to the richest people and goes on war after war — on credit.
And that leads to these large deficits that Trump then blames on other countries.
Now he's going to correct these deficits, he thinks, by raising tariffs.
And of course, it's going to do nothing of the kind.
The deficits are going to continue because they come from the profligacy of Washington.
They don't come from the fact that other countries are ripping us off.
So he'll raise the tariffs. Americans will shift their spending, say, from an imported automobile to domestic automobiles. That's true. They'll pay higher prices for those domestic automobiles. And our auto industry will export less abroad.
So yes — there will be fewer imports and fewer exports, and the balance won’t budge.
And none of it's going to change the fiscal recklessness.
Because what's Trump’s highest aspiration? It is to continue tax cuts for the richest Americans, which is going to cost another $4 trillion over the next 10 years in the budget.
Because these tax cuts are supposed to end, but he says, 'No, no, no — these are taxes for my rich donors, so they're going to continue.'
So he's not going to solve the budget crisis.
He's not going to solve the trade deficit — because that comes from the budget crisis.
But what he's going to do is lower the living standards of our country and the world.
Because trade is beneficial in living standards — it's called gains from trade.
We buy more cheaply. We sell goods that we have a comparative advantage in. And both sides gain from trade.
Of course, we overdo it, because we overspend — but that’s a completely different thing.
No one’s ripping off the United States by these numbers.
I don’t know whether it's just rhetoric or ignorance or confusion, but it's unbelievably bad economic policy.
It will come to no good.
And incidentally, you mentioned rightly that tariffs are, of course, a tax. So who’s supposed to have authority over taxes?
[Congress.]
And Congress has nothing to say in this. This is a one-person show.
What did we become in this country? Even King George wouldn't levy taxes without the British Parliament in the 18th century.
So what happened to this country? Trump just says, 'Oh, it's an emergency,' and now we have one-person rule — and one-person rule on completely fallacious premises that don’t pass the first day of study of what a trade deficit is.
I taught that for more than 20 years at Harvard University — what is a trade deficit, how does it relate to the excess of spending over production, how does it relate to the excess of investment in a country over a low saving rate?
Well, none of this seems to register.
No one asks a question.
There isn’t a day of hearings.
There isn’t any analysis.
It’s a one-person show based on economic fallacies that are going to wreck our economy, wreck the world trading system.
And I can tell you — all over the world, because I am talking with leaders all over the world, and recently in Asia — the words to describe this, you can’t say in polite company."
![nxt888's tweet photo. 🇺🇸JEFFREY SACHS:
"Tariffs are going to lower living standards.
They're going to wreck the US economy, and they're being put on for unbelievably bizarre and mistaken reasons that are completely fallacious.
Let me explain.
The United States runs a large deficit in its trade in goods and services — what's called the current account of the United States — and that deficit is about a trillion dollars.
Trump says, 'Oh, that's because other countries are ripping off the United States.'
I can't even begin to say how absurd that line is.
[The word is childish.]
Running a current account deficit means — and it means precisely — that the United States is spending more than it's producing. That's what leads to a deficit. You spend more than you produce.
And we spend more than we produce because we have very low saving in this country. We have an enormous budget deficit.
So the government is like the national credit card — it runs on credit.
It transfers money, pays for wars, pays for Israel’s wars, pays for military bases in 80 countries around the world, pays for that more than a trillion-dollar-a-year military establishment, and hundreds of billions more of associated spending on the military-industrial complex.
And it gives tax cuts for the richest Americans.
It allows for tax evasion by the richest Americans — and I mean evasion, because it doesn't do audits, and it guts enforcement of the tax laws.
So we hemorrhage deficits and have rising public debt.
And because of all that, the spending of our country is much larger than our national income.
It’s a trillion dollars more than national income.
It is exactly the imbalance of our imports of goods and services over our exports of goods and services.
All of this is to say that what Trump calls a 'ripoff' is just the absolute irresponsibility of the political class in Washington.
It's a corrupt, plutocratic gangsterism that gives away the taxes and tax cuts to the richest people and goes on war after war — on credit.
And that leads to these large deficits that Trump then blames on other countries.
Now he's going to correct these deficits, he thinks, by raising tariffs.
And of course, it's going to do nothing of the kind.
The deficits are going to continue because they come from the profligacy of Washington.
They don't come from the fact that other countries are ripping us off.
So he'll raise the tariffs. Americans will shift their spending, say, from an imported automobile to domestic automobiles. That's true. They'll pay higher prices for those domestic automobiles. And our auto industry will export less abroad.
So yes — there will be fewer imports and fewer exports, and the balance won’t budge.
And none of it's going to change the fiscal recklessness.
Because what's Trump’s highest aspiration? It is to continue tax cuts for the richest Americans, which is going to cost another $4 trillion over the next 10 years in the budget.
Because these tax cuts are supposed to end, but he says, 'No, no, no — these are taxes for my rich donors, so they're going to continue.'
So he's not going to solve the budget crisis.
He's not going to solve the trade deficit — because that comes from the budget crisis.
But what he's going to do is lower the living standards of our country and the world.
Because trade is beneficial in living standards — it's called gains from trade.
We buy more cheaply. We sell goods that we have a comparative advantage in. And both sides gain from trade.
Of course, we overdo it, because we overspend — but that’s a completely different thing.
No one’s ripping off the United States by these numbers.
I don’t know whether it's just rhetoric or ignorance or confusion, but it's unbelievably bad economic policy.
It will come to no good.
And incidentally, you mentioned rightly that tariffs are, of course, a tax. So who’s supposed to have authority over taxes?
[Congress.]
And Congress has nothing to say in this. This is a one-person show.
What did we become in this country? Even King George wouldn't levy taxes without the British Parliament in the 18th century.
So what happened to this country? Trump just says, 'Oh, it's an emergency,' and now we have one-person rule — and one-person rule on completely fallacious premises that don’t pass the first day of study of what a trade deficit is.
I taught that for more than 20 years at Harvard University — what is a trade deficit, how does it relate to the excess of spending over production, how does it relate to the excess of investment in a country over a low saving rate?
Well, none of this seems to register.
No one asks a question.
There isn’t a day of hearings.
There isn’t any analysis.
It’s a one-person show based on economic fallacies that are going to wreck our economy, wreck the world trading system.
And I can tell you — all over the world, because I am talking with leaders all over the world, and recently in Asia — the words to describe this, you can’t say in polite company."](https://pbs.twimg.com/media/GnlwAP6bQAAg8ny.jpg)
So many of you actively engaged and took part in the #36hourfast. Well done.👏🏾👏🏾
We'd like to know how many of us were involved.
If you took part please let us know in the poll below how long you stayed on the fast.
Vote and Retweet.
Thanks for investing in your health.
UMI affrims partnership with kosovo Institute of Public admin'. This parternership will have training & programme exchanges, capacity building and sharing expriences. UMI delegation to Kosovo was led by the DG @jamesnkata1. & was recieved by the Minister Foreign affairs in Kosovo
Petition The Government of Uganda Against Proposed Amendments Under The Public Health (Amendment) Bill, 2021 - Sign the Petition! https://t.co/zEVRPzj7es via @Change
8 days to go!
The present I'm most looking forward to comes out Feb. 20, but you can pre-order now! https://t.co/2116r30G2O
Working while receiving e-mails and phone calls reduces a worker’s IQ by about ten points relative to working uninterrupted https://t.co/GOrchjUdsH
Curious on how to protect your life, family and business online - find out more information at https://t.co/nGuPN87x75
@TheEconomist We live in the knowledge edge
Do's and don't's when applying to Senior positions the UN https://t.co/keqhfOM57V
Micromanagers: Flushing Companies Down the Toilet, One Detail at a Time http://t.co/lv60RwecJB
just a few hrs before we can cast our votes, Ugandans ought to vote wisely, our destiny lies in our decision to vote out the corrupt
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