Federal Debt Facts from CATO
CATO published the following summary of the current status of the federal debt:
Tag: Economy
Read More
Good Bank, Bad Bank
I am worried that my previous post may have been too favorable to bankers. Bankers are not universally loved. They have a reputation for foreclosing on decent people having a hard time financially, for not lending to anyone except those who don’t need a loan, and so on. Two movies that illustrate this are “It’s…
SVB and Bank Profits
This article in The Economist magazine describes well what happened with Silicon Valley Bank and some other impending bank failures. It also describes the other side of the banking business, which is getting less attention today. The lesson of SVB is don’t borrow long term bonds to back up short term deposits. But SVB had…
Reasonable Joe Manchin
Reason Magazine says that Senator Joe Manchin is one of the few adults in Congress. It reports that he said: “We’ve been spending more than we bring in every year for the past 21 years, and the debt that has resulted from that is absolutely crippling,” he said, pointing out that presidents and congressional leaders from…