One of the biggest problems of Biden's neo-Keynesian approach to government budgets is that it leaves households with less money in real terms and the “anti-inflation” measures increase debt and inflation.
The Federal Home Loan Bank (FHLB) is the latest "weapon" in the government's so-called arsenal to keep the banking system afloat. But the system needs much more than just "liquidity." It needs sound money and sound banking practices.
The latest rage in macroceonomics is modern monetary theory, whose adherents invariably resort to the motte-and-bailey fallacy. Advocating inflation is never a good idea.
With each iteration of the banking crisis, the Federal Reserve System and federal regulators gain in power and authority. Maybe the banking crisis isn’t an accident.
Socialists like Bernie Sanders and the editors of Jacobin have decried the possible US government debt default. Marx and Lenin would have vociferously disagreed.
