Josh Marshall on alternatives to the debt ceiling. [Click] I must say that I like the idea of minting the coin(s), but consol bonds are an interesting alternative. Not only did Great Britain issue them in the past, if I am not mistaken the US has also done so. —Alan
The debt ceiling is a gift to the hoarders (financial class) who rely on creating artificial value with the fiction that currency is scarce. In fact, the value of U.S. currency is entirely derived from the credibility of the U.S. evidenced by our meeting our obligations. The Republican party has become home to people who resent and deny obligation. They derive benefit from weakening and predating opponents (anyone who has something they want. While "one man's loss is another's gain" is readily admitted. What is generally left out is that the loss is engineered. Republicans are trying to engineer a loss in hopes of defeating Biden and avoiding the threat that is Harris.
By the way, very nice weather today. Lots of blue sky, fair weather cumulus clouds, modest temperatures. The water level in the river has fallen about a foot from its highest level a while back. ----Alan
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Certainly a fancy looking feeder; does it keep squirrels out?
ReplyDelete---Alan
Josh Marshall on alternatives to the debt ceiling. [Click] I must say that I like the idea of minting the coin(s), but consol bonds are an interesting alternative. Not only did Great Britain issue them in the past, if I am not mistaken the US has also done so.
ReplyDelete—Alan
Yep, the US issued consols from 1877 to 1930 [Click] The US consol bonds have been paid off, but I don't find when that happened.
Delete---Alan
The debt ceiling is a gift to the hoarders (financial class) who rely on creating artificial value with the fiction that currency is scarce.
ReplyDeleteIn fact, the value of U.S. currency is entirely derived from the credibility of the U.S. evidenced by our meeting our obligations. The Republican party has become home to people who resent and deny obligation. They derive benefit from weakening and predating opponents (anyone who has something they want.
While "one man's loss is another's gain" is readily admitted. What is generally left out is that the loss is engineered. Republicans are trying to engineer a loss in hopes of defeating Biden and avoiding the threat that is Harris.
Are you a mosquito magnet? Help may be at hand [Click] Starting last year I changed to using lemon eucalyptus based repelant. It works well.
ReplyDelete—Alan
The local mosquito abatement district has been amazingly effective. Almost never encounter mosquitos.
DeleteReportedly Russian government has caved to Wagner demand for more ammunition and it may stay in place. [Click]
ReplyDelete'Mad panic' as Russia evacuates town near Zaporizhzhia plant, Russian troops mixing with civilians. [Click] Cannot be confirmed.
No retreat, remaining Wagner fighters in Bakhmut are trapped by FSB and Chechen fighters [Click]
ReplyDelete—-Alan
Just read a nice article about Julian of Norwich [Click]
ReplyDelete—Alan
Related aside: What Would a Penny Buy You in Medieval England? [Click]
Delete—Alan
By the way, very nice weather today. Lots of blue sky, fair weather cumulus clouds, modest temperatures. The water level in the river has fallen about a foot from its highest level a while back.
ReplyDelete----Alan