Bank OZK

Ernest Hemingway wrote in his 1926 novel The Sun Also Rises, “How did you go bankrupt? Two ways. Gradually, then suddenly.” Artificial Intelligence (AI) tells me this snippet of dialogue between Mike and Bill is now “widely recognized as a metaphor for situations where something builds up slowly, like accumulated debt or a creeping disaster, before reaching a critical point and exploding suddenly.”

Bank failures happen the same way. Government protection and deposit insurance slows the inevitable—until it doesn’t.

The Spanish Blackout and the Costs of Renewable Energy

The blackout of the Iberian Peninsula and Southern France on Monday, April 28, has led to hot debates among opponents and supporters of renewable energy. Opponents claim that wind turbines and mainly solar power plants caused the blackout, whereas supporters of renewable energy accuse nuclear power plants of causing the problem, claiming that wind and solar energy really helped restart the electricity network.