Unfortunately, spending is up 7.6% to $2.57 trillion. The largest increase is debt service, up 13.6% from last year. This is in a low interest rate environment. The Fed is trapped in maintaining low interest rates. Danielle DiMartino: “Fed controlled rates theoretically set floor. Investors ultimately determine rate at which governments borrow. Artificially low floor drags down curve unless Fed loses control.”
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From about 1800 to the present the world's economy did something good, which looks to be permanent and looks to be justified. If contrary to the evidence we cling to our prejudices about economic history—our view that the Industrial Revolution was improverishng, or...
A Lot of people have been asking me where we are politically. I don’t know if I have a good answer, but “When I am Weaker Than You, I ask you for Freedom because that is according to your principles; when I am Stronger than you, I take away your Freedom Because that...
In 1935 while in exile Brecht wrote his poem challenging the aristocracy of history. The belief that events and the entire of human existence occurs because of a great man, the dear leader. In contemporary moments, politicians and influential people are looked at with...
