The New Abnormal: The Rise of the Biomedical Security State
by Aaron Kheriaty
Regnery Publishing, 2022; xxv + 278 pp.

Because his actions were so outrageous, perhaps it is impossible to satirize the former president of Zimbabwe, Robert Mugabe, but perhaps I can describe him.

As a shout-out to all my neighbors in the Asia Pacific, let us not forget the Sun Tzu tradition to “know the enemy.”

For an analysis of the Zimbabwe hyperinflation, see Jayson Coomer and Thomas Gstraunthaler’s article in the Quarterly Journal of Austrian Economics.

The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history. Just two days following SVB’s collapse, Signature Bank joined the record books as the third largest bank failure in US history. First Republic Bank also seemed on the edge of collapse until Bank of America, Citigroup, and other big banks agreed to jointly fund a bailout for it.

A few days from now marks the one-year anniversary of the article: Will You Buy the Dip? It was there I told everyone I know that eventually the Federal Reserve will conclude its Quantitative Tightening (QT), and a new round of Quantitative Easing (QE) would emerge. This was both inherent and inevitable due to the inflationary nature of central banks. So the idea was to buy the stock market once the Fed resumed the QE process.

It’s the weekend, but our fresh Financial Crisis does not sleep. And a recent study says we’ve only seen the tip of the iceberg.

The Washington Post yesterday wrote: “If banks were suddenly forced to liquidate their bond and loan portfolios, the losses would erase up to 91 percent of their combined capital cushion.” In other words, we were already right up against the edge.