What About The Economy?

 Wednesday, my sister said she had heard someone talking about the U.S. government printing more money. She told me they guy was some former CIA guy or Secret Service agent. I said they were not, and what would a guy with such a background know about anything with the economy. She said something about him reading/listening to stuff. 

The government is worried about inflation. Printing more money is not what governments do to fight inflation. Inflation means too much money in the system.

My friend DM sent me Too Small to Not Fail A Short History of the World from Danielle DiMartino Booth's Substack. From reading the piece, it seems Ms. Booth worked for the Federal, Reserve. It is a history of quantitative easing and the Federal Reserve. It is an interesting read, some of the points I lack enough education to comment upon, but I had to roll my eyes at this point:

The kicker was Biden’s mission to set the nation on a path to a welfare state, resplendent with sufficient social spending to annihilate the American work ethic. The backbiting that ensued as the Administration tried, and failed, to replace Powell with Lael Brainard, was the coup de gras. Of course, the markets wanted none of the future envisioned by Brainard. The lobbying community came out in full force against her nomination. As it became apparent that Biden was holding Powell’s renomination hostage to get the consolation prize of political, progressive appointees to the Fed Board, a leadership vacuum paralyzed policymaking. The Fed staff divided, “transitory” languished, making Powell look all the more the fool.

I had to roll my eyes at the first sentence, but it may reassure some of the writer's bona fides. Just keep reading, her thesis her does not seem to bear on her history.

We need to worry about community banks. I have seen other pieces on the subject. 

At the end, I am not sure how we would preserve community banks, but there are quite a few interesting ideas.

sch 3/24