The drug war of the last half century has incarcerated millions and created havoc. What it hasn't done is eliminate people using drugs without government permission.
While the US ratchets up efforts to isolate its many enemies, the Chinese, the Saudis, the Arab League, and OPEC all shrug and look to increasing international communication and trade.
We are familiar with the five stages of grief. However, it is not a stretch to apply those stages to what is happening to the banking system. Right now, we are in the second stage: anger.
A "soft landing" is impossible unless the government cuts both taxes and government spending at the same time interest rates are rising. This won't happen, so get ready for a hard landing.
President Biden recently claimed that "trickle-down economics" doesn't work but transferring wealth from taxpayers to politically connected people is the real trickle-down economics.
