Posted on 03/24/2023 8:15:32 AM PDT by dynachrome
It is strange that a banking crisis has the oil price imploding. Poor thing just can’t catch a break.
Yellen doesn’t exactly inspire confidence.
I’m of the Misean opinion that government should not be involved in the marketplace of lending rates. But since it is, it is unclear what the CORRECT rate should be. Do we need more tightening or will thank torpedo the US economy?
Great movie.
Janet “inflation is transitory” Yellen.
...will convene the heads of top US financial regulators Friday morning for a previously unscheduled meeting of the Financial Stability Oversight Council....
Unscheduled. On a Friday. Wonder how many banks will get gobbled up over the weekend?
This administration is a complete disaster but I assume the News Channels are still sniffing Biden’s jock strap. I predict complete disaster since that’s been the case since day one of this incompetence of 81 million voters.
“I’m of the Misean opinion that government should not be involved in the marketplace of lending rates. But since it is, it is unclear what the CORRECT rate should be.”
If you have read Mises you know the correct answer—there is no such thing as a “correct” rate set by the fed or .gov.
All rates are by definition wrong at any point in time—only the market can determine what the rate should be—moment by moment.
The fed is like a drunk throwing darts at a board.
Duck!
So, the Gang that Cannot Shoot Straight, that ran us into this ditch, is going to have a meeting?
Big effing whoop!
Well exactly. Andrew Jackson IMHO was correct in his fear of the big banks and the attempt to create the central bank.
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