The Debt Ceiling will be an election issue, and jammed more #austerity down our throats.First, they participated in negotiating an informal deal where they compelled $1 in spending cuts for every new dollar of borrowing. This plan reduces the overall size of the deficit. Then, having secured the #austerity framework, they backed out – insistingRead More
Chesapeake’s Weird Bonds: Borrow $$$, Pay Natural Gas Interest Chris Cook believes the Saudis are doing the same thing with oil Does Modern Finance Require “Hulk Smash” Regulation? Scumbag Facebook Co-Founder Saverin Flips the Bird to the People who made him $2.3 Billion Posted from Diigo. The rest of my favorite links are here.
The Long Decline of The London Economist | Ron Unz – Writings and Perspectives Ron Unz is…worth reading. tags: interesting Unz economics Pravda "When Half a Million Americans Died and Nobody Noticed" | Ron Unz – Writings and Perspectives This is astounding. I don’t even know what to say about it. Bond-CDS Negative Basis orRead More
The Subcommittee on Domestic Monetary Policy and Technology held hearings Tuesday : “The hearing, chaired by Texas Republican Rep. Ron Paul… focused on several proposals to alter the Federal Reserve…” The reform bills ranged from Marcy Kaptur’s small ball bill to (among other things) ban Fed governors from working for member banks for 4 yearsRead More
The Modern Monetary Theory Trader: Fed lending to the Treasury? Must read article: "Congress should consider providing the Federal Reserve the explicit authority to lend directly to Treasury as a last resort when other options are not viable during a wide-scale disruption. Developing a direct draw authority would require careful consideration and determination of designRead More