Banks, like any business, never run out of money. They run out of investor trust. That’s why the only capital requirement for banks should be no capital requirement. They only succeed insofar as they force banks to sideline funds they’ve rented, and at a cost. To then pretend that any cushion would be sufficient if a bank ran into serious trouble is just silly.
The Dangerous Pointlessness of Bank Capital Requirements Read More »
China’s Evergrande has been staring bankruptcy in the face since 2021. More recently, media members have fingered Country Garden as yet another large China property company that could fall. Supposedly this signals “crisis” for China. Not explained is why.
Failure Won’t Hurt China, a Bailout of Country Garden Will Read More »
Governments can only centrally plan the direction of resources insofar as they’ve taken them from us first, and they can only offer tax incentives insofar as they’ve overtaxed us first. The economic damage from their meddling is immediate.
No, There’s No Near-Term ‘Sugar High’ From Government Spending Read More »
It’s a waste of words to say the central planning that underlies Fed conceit always fails, not to mention that the surest path to lower prices is economic growth as is.
The Boundless Foolishness Underlying ‘Soft Landing’ Mythology Read More »
Good arguments gradually win. The Freedom Caucus lacks them. It will never succeed so long as it doesn’t understand its argument.
To See the Problem, the Freedom Caucus Must Look In the Mirror Read More »
If we’re free-speech absolutists, we’re by definition absolutists about the sources of speech. What’s being done to TikTok is embarrassing, and it won’t redound to its political critics in the U.S.
TikTok Faces Suffocating Government Authoritarianism…In the U.S. Read More »
If voters really want to avoid a future “financial crisis,” they would vote for Biden if he promises to go to bed after the next financial institution failure, and Trump if he promises to play golf.
If the Economy ‘Collapses,’ Biden Should Go To Bed, Trump Should Golf Read More »
In the late 1970s, Ken Langone connected Bernie Marcus and Arthur Blank with Ross Perot. They were trying to raise money for what became Home Depot, and Perot was offered the chance to purchase 70% of the company for $2 million.
Five Words That Kept Ross Perot From Becoming the World’s Richest Read More »
The consensus among the allegedly wise is that China is “enduring its worst economic slowdown in years.” If the latter described the United States, economists and pundits would be calling for massive increases in government spending. How very backwards.
Chinese Economists Disagree With Xi Jinping. But Xi Is Right. Read More »
That markets are incredibly stupid is pretty much implied in all the Federal Reserve commentary from the various economic religions. Think about it.
The Fed As the Inflation Fix? Sorry, But Markets Aren’t That Stupid Read More »
