Crisis
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Silicon Valley Bank: Mismanagement Is Not an Excuse for Inefficient Regulation
“The mismanagement was endogenous to the regulatory regime. Rather than promoting financial stability, regulators have undermined it. Doubling down on a failed strategy will not make things better.” ~ Nicolás Cachanosky
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Don’t Expand Deposit Insurance. Abolish It!
“Deposit insurance creates perverse incentives that weaken market discipline and encourage excessive risk-taking. Expanding deposit insurance will only make these problems worse.” ~ Bryan P. Cutsinger
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Fed Raises Rate, But Signals Potential Pause in May
“In 2021 they were looking for help from recovering supply chains. Now, they are looking for help from tight financial markets. It’s time FOMC members help themselves — or, God help us all.” ~ William J. Luther
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People Should be “Seething Mad” Over COVID – And Much More
“The government’s authoritarian COVID policies are just the most visible proof that it’s a terrible idea to turn anything of importance over to government control.” ~ George Leef
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Silicon Valley Bank: Bespoke, Woke, and Restoked?
“In a chorus which has become familiar, the S&P 500 futures just leapt upward, as the dollar fell with equal fervor. Relief for equities, a snub to the greenback. At 7:45pm EDT on an otherwise quiet Sunday night in March, this is what that kicking the can down the road looks like.” ~ Peter C.…
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Has the Discount Window Mystery been Solved?
“We won’t know for another twelve or fourteen months whether Silicon Valley Bank (or any of the other banks being thrown overboard today) were the ones borrowing at the Fed’s discount window. But it is increasingly likely that whatever firm(s) it was, exigency was the driver.” ~ Peter C. Earle
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Hospitalized With, or Hospitalized For?
“It has been three years. Isn’t it about time we got more accurate data on COVID-19 hospitalizations and deaths?” ~ Jon Sanders
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Apres Biden, Le Deluge: When the Republican Party Gives Up Entitlement Reform
“Even the Biden Treasury Department labels the present financial path as ‘unsustainable.’ Refusing to look at so-called entitlements, most importantly Medicare and Social Security, ensures growing outlays, deficits, and debt.” ~ Doug Bandow
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Will Federal Spending Be Brought Under Control?
“Will Congress actually cut spending? History suggests not. Economic historian Robert Higgs invented the term ‘ratchet effect’ to describe the way that government growth after a crisis tends to be locked in: the size of government never retreats to what it was before the crisis.” ~ Jason Sorens
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Lust for Power is More Dangerous Than Climate Claims
“In the face of growing regulatory risks to our preferred ways of life, the least we can do is see the perpetual crisis narratives for what they are: a tool to legitimize dangerous increases in the size and scope of government.” ~ David Waugh
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Debt Ceiling Theater, The 2023 Revival
“We deserve exactly the government we have insisted upon for all these years. We also deserve the heavy price that will come for our own irresponsibility in repeatedly re-electing this troupe. No partisan theater will ever sugarcoat that.” ~ Antony Davies & James R. Harrigan
