Where the rubber meets the Hyperloop

Prince Alwaleed bin Talal, the billionaire Saudi Arabian investor, has warned that his country’s oil-dependent economy is increasingly vulnerable to competition from the US shale revolution, setting him at odds with his country’s oil ministry and Opec officials. In an open letter addressed to Ali Naimi, the Saudi oil minister, the prince called on theRead More

Does Tsy backstop the Fed?

In previous thread, JKH has this interesting quote from Paul Krugman (who, I still maintain, is not evil and is not the devil). “There is not, I’m told, any formal Treasury backing for the Fed; there were informal assurances early in the crisis, and everyone takes it for granted that any losses that exceed theRead More