By borrowing money and “creating” new jobs, the government is creating the illusion of a strong economy. This does not end well.
Original Article: The Government Is Making the Economy Appear Better than It Is
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2024-01-27
As a frequent X/Twitter user, I follow a variety of accounts that touch on a number of niches: whether that is economics, finance, Catholicism, college football . . . or in this case, Lord of the Rings. A popular Twitter account that regularly shares content related to J.R.R. Tolkien’s work broke from character to offer an insight on another tweet. In the tweet he refers to, a food inspector is shown interrupting the business of a diner, which the poster laments. Middle-Earth Mixer, the Lord of the Rings account, offers insight:
The problem with Libertarianism is it leans on the old Marxist adage, “You have to break a few eggs to make an omelet.” Except in this case the idea is, “A few people need to die of food poisoning before we know which diners are good.”
While this may be too much
2024-01-25
Last Thursday, Bloomberg reported that federal regulators are preparing a proposal to force US banks to utilize the Federal Reserve’s discount window in preparation for future bank crises. The aim, notes Katanga Johnson, is to remove the stigma around tapping into this financial lifeline, part of the continuing fallout from the failures of several significant regional banks last year.
This new policy is reminiscent of the Fed’s actions during the 2007 financial crisis, where financial authorities encouraged large banks to tap into the discount window, taking loans directly from the Federal Reserve, to make it easier for distressed banks to do the same. The hesitancy from financial institutions to tap into this source of liquidity is justified. If the public believes a bank needs support
2024-01-22
So-called social media is frequently maligned for the nastiness it brings, with focus often set on the personal attacks and trolling that tend to haunt potentially reasonable discussions. X (formerly Twitter) is supposedly the worst, on which people engage in endless mudslinging and bullying. However, the other platforms are not better.
The common explanation for the degenerative nature of social media discourse is that the platforms are developed to maximize “engagement,” which prefers emotional outbursts over reflective, rational discourse. Indeed, social media is designed to bring out the very worst in people. They are for-profit psyops that push or nudge people to scream louder and viciously attack each other.
There is some truth to the engagement argument, but the social media problem
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