Crash the train to stop it

[finnbow]

Originally Posted by nailer

Which caucus members are asking for earmarks?

The article I linked to provides a list. Within it, it also states:

Freedom Caucus members Marjorie Taylor Greene, R-Ga., Andy Harris, R-Md., and Ben Cline, R-Va., are among the new requesters this year.

So is Florida GOP Rep. Matt Gaetz, who was one of four Republicans voting "no" on the debt limit increase measure on Wednesday for not doing enough to curb spending.

Republicans dominate the list of top earmarkers by dollar amount, including the top six among House members.

[nailer]

Originally Posted by Dondilion

Quantitative Easing was employed for too long. The near-zero interest rate regime created a business matrix of easy money, overvalued enterprises, and a class of very government-dependent hustlers. Overtime distortions grew

the system is unwinding itself organically despite the late efforts of the Fed.

Nice point.

[nailer]

Originally Posted by finnbow

The article I linked to provides a list. Within it, it also states:

Freedom Caucus members Marjorie Taylor Greene, R-Ga., Andy Harris, R-Md., and Ben Cline, R-Va., are among the new requesters this year.

So is Florida GOP Rep. Matt Gaetz, who was one of four Republicans voting "no" on the debt limit increase measure on Wednesday for not doing enough to curb spending.

Republicans dominate the list of top earmarkers by dollar amount, including the top six among House members.

Don't have time to read political articles. Too biased for my tastes. Rather spend it listening to music, reading books or watching the better content in the stream. Being outside and keeping physically active too. For instance, I'm off to visit a galaxy far far away.

[finnbow]

Originally Posted by nailer

Don't have time to read political articles. Too biased for my tastes. Rather spend it listening to music, reading books or watching the better content in the stream. Being outside and keeping physically active too. For instance, I'm off to visit a galaxy far far away.

I just got back from a 5 mile hike in the woods and a mile swim afterwards but still find time to read.

[nailer]

Originally Posted by finnbow

I just got back from a 5 mile hike in the woods and a mile swim afterwards but still find time to read.

My daily constitutional is four miles late in the day and a 40+ workout in the morning. When the heat hits they reverse. Just did 45 minutes of pulling out unwanted plants in the yard and scoped out another 45 minutes worth for tomorrow. Tomorrow is also give the groomed part of my homestead a trim day. Can't see paying someone else to do that.

[whell]

Originally Posted by finnbow

Because the House FreeDumb Caucus has been adamantly opposed to earmarks.

The conservative House Freedom Caucus has come out swinging against the idea, voting to formally oppose any form of congressionally directed spending, “whether in the 117th Congress or any future Congress.” Caucus members argued that the practice is ripe for abuse and would only lead to “pork-barrel” spending.

“They’re a bad idea. I’m opposed to them,” said Rep. Warren Davidson (R-Ohio), a member of the Freedom Caucus. “They’ve been described as a gateway drug toward corruption.”

“I am totally against it,” added Rep. Jim Jordan (R-Ohio), a co-founder of the group. “I don’t think Republicans should be supportive of earmarks.”

https://www.politico.com/news/2021/0...armarks-471344

Some Repubs are, some are not.

You called them "hypocrites". Since you're a Dem voter, and Dems typically infuse budgets with earmarks, doesn't that make you a hypocrite?

[whell]

Originally Posted by Dondilion

Quantitative Easing was employed for too long. The near-zero interest rate regime created a business matrix of easy money, overvalued enterprises, and a class of very government-dependent hustlers. Overtime distortions grew

the system is unwinding itself organically despite the late efforts of the Fed.

All very true.

[whell]

The Regional Banking Crisis is Expanding

Federal Reserve chair Jay Powell yesterday said that the U.S. banking system is "sound and resilient."

The big picture: It was akin to a sports team owner giving the coach a vote of confidence. If you're compelled to say it, things really aren't going well.

Driving the news: PacWest reportedly is exploring strategic options, including a possible sale, acknowledging "discussions are ongoing" with "several potential partners and investors."

Shares in the Los Angeles-based lender were down 71% on the year as of yesterday's market close, and got further routed at today's open.
Phoenix-based Western Alliance also is seeking help, per an FT report that sent its shares tumbling even further. [Update: Western Alliance is denying the FT report, adding that it has not hired advisors. Trading of its shares have been halted multiple times].
Behind the scenes: The FDIC isn't involved in either situation. At least not yet.

Remember, both Silicon Valley Bank and First Republic also at first sought private market solutions. Several other regional banks are also under stock price pressure, including Comerica and Zions Bancorp.

[nailer]

Originally Posted by whell

The Regional Banking Crisis is Expanding

Federal Reserve chair Jay Powell yesterday said that the U.S. banking system is "sound and resilient."

The big picture: It was akin to a sports team owner giving the coach a vote of confidence. If you're compelled to say it, things really aren't going well.

Driving the news: PacWest reportedly is exploring strategic options, including a possible sale, acknowledging "discussions are ongoing" with "several potential partners and investors."

Shares in the Los Angeles-based lender were down 71% on the year as of yesterday's market close, and got further routed at today's open.
Phoenix-based Western Alliance also is seeking help, per an FT report that sent its shares tumbling even further. [Update: Western Alliance is denying the FT report, adding that it has not hired advisors. Trading of its shares have been halted multiple times].
Behind the scenes: The FDIC isn't involved in either situation. At least not yet.

Remember, both Silicon Valley Bank and First Republic also at first sought private market solutions. Several other regional banks are also under stock price pressure, including Comerica and Zions Bancorp.

Given that the number of U.S. banks and credit unions dropped from 18,000 to 4,490 and 15,193 to 3,500 respectively from 1984 to 2020 in a constant decline, these current failures are nothing to get oneself wrapped around the axel over.

[nailer]

The GOP proposal to raise the debt ceiling would force Americans on Social Security and Medicare to wait longer to receive help and make college more expensive, ...
https://www.msn.com/en-us/news/polit...0868b3a4&ei=15

Wonder how all the Republicans who depend on Social Security and Medicare feel about this?