@paulg The only way is an open convention, as chaotic as it would be it’s the only way voters would feel there’s a democratic process (even if only for the optics). Harris has been the most ineffective VP in history and would lose by a larger margin than Biden despite what the polls say
@AndriyTyurnikov@aeybobby@MacroAlf True but I think the transmission mechanism won’t be similar to how QE works in this case, I suspect an intermediary buys the htm portfolio at a discount from the FDIC and sells to the Fed - rather than a broad based QE program which pushes investors further out the risk spectrum
@aeybobby@MacroAlf Not counterproductive at all, backstopping uninsured depositors (not shareholders and executives) who acted in good faith isn’t inflationary
"Markets are irrational in the short term but not over the long term. They sometimes offer fire sale prices on the greatest companies in the world." - @fredwilson
It's just astonishing how much of American culture is now consumed by attempts to get people punished, debates about people getting punished, and campaigns to stop people from getting punished.
The mark of a deeply sick society.
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