Every decade or so bank failures and the subsequent bailout response via central bank intervention appear. The latest jangling of depositor nerves involved US regional banks and a certain Swiss bank of great systemic importance.
Earlier this month, Senator Mark Warner (D-VA) introduced the Restricting the Emergence of Security Threats that Risk Information and Communications Technology Act, or the RESTRICT Act. The bill is being floated as a possible means for the federal government to ban TikTok over its connection to the Chinese government. However, the RESTRICT Act’s vague language and broad scope has many voicing concerns about the bill’s threat to free speech and freedom of expression.
The recent acceleration of inflation in the U.S. has undoubtedly caused most Delawareans to see the difference between nominal or money income and real income or what their income actually buys. The loss in purchasing power of Delaware households because of inflation is compounded by the fact that Delaware, like several other states, has a progressive income tax and doesn’t adjust its income tax brackets for inflation.
In 1934, at the behest of Prime Minister R.B. Bennett and with the approval of Parliament, Canada’s central bank, the Bank of Canada (BOC), was founded. It began operations in 1935. Its job is “to promote the economic and financial welfare of Canada.” It is now 2023, and more than half of Canadians are living hand to mouth, a trend that has been well established for many years. How much longer do we have to wait for the BOC to do its job?
My grandson will graduate from a public school in May, and my daughter, his mom, asked me to write a senior letter for him. He’s been part of my life since he was born, and we’re all very proud of him. But what do I tell him about the world he’s about to enter?
