Because of “transitory inflation” was believed by folks that should have known better US banks are have a paper loss of > $1 TRILLION from investment in U.S. treasuries/bonds. They purchased them because they were told inflation was transitory. It wasn’t and interest rates were

I’d LOVE for the people here in East Palestine to receive the same bailouts these banks are receiving right now.

Truly historic exchange beginning at 1:30:47. Stop what you are doing and watch it. H/T Santiago Capital

This story might not be over. Apparently, Wall Street needs a government bailout to support the bank that services uber wealthy tech executives from failing. Should I keep holding my breath? bloomberg.com/news/articles/…

Bureaucratic malpractice.

So it turns out Dodd-Frank was largely useless and Barney Frank couldn’t even keep his own bank from getting into trouble.

No evidence yet of credit crunch after banking turmoil, says Yellen - NYT

This is unprecedented humiliation for the Federal Reserve. Just 2 hours earlier, Powell said US banking system is "sound and resilient", seemingly unaware that yet another of the largest California banks was teetering on the edge. How is this level of incompetence possible

Businesses are about to get squeezed as credit availability is contracting dramatically as deposits are leaving banks and flowing to US treasuries in money market accounts. The crowding out effect in real time.

David Sacks 60 minutes covered this the other month… so much of the budget is wasted. “Shay Assad, a former Defense Department contract negotiator, said the Pentagon overpays for almost everything – from missiles and planes to spare parts.”

It’s such a mystery why once bustling & family-friendly Chinatown area is overrun with crime & shuttered businesses. Perhaps there was a DC Councilmember who cut 100s of police, curtailed pursuits & decriminalized acts that harm our city. DC can’t afford any more Charles Allen!

There has been a shooting in front of my house *every single night* this weekend in DC This is what we came home to last night on 13th NW Unbelievable that it's just shrugs from our local leaders

This should be obvious, but the reason people jumped on the "Israel bombed a hospital and killed 500 people" story was because the demand for one big splashy headline Israeli atrocity to balance out the Hamas baby-slaughter is outstripping the supply of same.

Stanley Druckenmiller on the Fed's historic blunder: "When rates were practically zero, every Tom, Dick and Harry and Mary in the United States refinanced their mortgage, corporations extended. Unfortunately, we've had one entity that did not and that was US Treasury. Janet

Argentina's failed MMT experiment is over Stephanie Kelton

California’s High-Speed Rail project was originally estimated to cost $33 Billion. They’ve spent $9.8 Billion, no track has been laid, and they estimate it will cost another $100B+. For a single system 800-mile-long system. Maybe it’s not about willingness to invest?

Another cost of the DC Crime Crisis: auto insurance rates have risen 42% (!!!) in DC and only 26% in the rest of the country. And no, Charles Allen…paying 42% more for insurance coverage is not “part of living in a city.” Crime hurts everyone. wtop.com/local/2024/02/…

Rent control would make the housing affordability crisis worse, not better. Hard to find something economists agree on more than that. The only solution to a shortage of housing is to build more housing.

There's no 8/7 deadline. You're making that up. Ohio passed legislation so that whomever is nominated at the Democratic Convention will be on the November ballot. Have some guts and defend your party's ability to follow its own process. And stop lying to the American public.