A new Fed survey shows that banks are cutting back on lending big time. Over the past thirty-five years, this almost always predicts recession. Our economy can't survive without endless new infusions of easy money.
Original Article: "Banks Are Lending Less Money, and That's a Formula for Recession"
Full story here Are you the author?
You Might Also Like
Why the Chinese Yuan Won’t Kill the Dollar
2023-04-26
Former US President Donald Trump has expressed concern that China could displace the US dollar as the global reserve currency. The warning follows reports of agreements between various nations to use the yuan in commodity transactions.
For years, rumors have circulated about the demise of the US dollar as a global reserve currency, but the greenback continues to be the most traded and extensively used currency in the fiat world.
The US dollar is by far the most traded currency on the foreign exchange market, according to the Bank for International Settlements. In 2022, the US dollar “remained the preeminent vehicle currency in the globe.” In April 2022, it was on one side of 88% of all transactions, unchanged from the previous survey.
The euro, the Japanese yen, and the pound sterling
Should Local Municipalities Default on Their Debts? Seems Like a Good Idea
2023-04-26
Most Americans do not understand debt default. When it is explained, debt default comes off as immorally reneging on the financial obligations of the government. In contrast, libertarians have demonstrated that it is, in fact, moral and beneficial. However, when default is brought up, it is hardly ever discussed in terms of local governments. So, here is why your local government should leave their creditors in the dust.
Government issued debt is essentially immoral. Government debt issuance is an aggressive action and should be rejected as such. It involuntarily transfers money from the taxpayer to the government’s creditors. There is no positive obligation to pay back the creditors because the creditors are fully aware of where the payments come from—involuntary transfers from the
Tags: Featured,newsletter
