“Surge” or “Stay the Course?” Depleted and demoralized by the huge sums it has already spent (and arguably squandered) trying to stabilize a still-hostile environment, the U.S. must decide its next move. The three choices are to: 1) double down (“surge”); 2) “stay the course”; or 3) declare victory and get out. U.S. forces in...Read More
“Revenue-Positive” Fiscal StimulusGive a too-big-to-fail financial institution $1 of taxpayer money, and what do they do with it? As best I can tell, one of two things: 1) lend it back to the government for (risk-free) interest; or 2) borrow $10 more against it, then bet all $11 in the credit derivatives market. Of course,...Read More
