The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.
shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
Like Vladimir Putin, China's leader is so steeped in a narrative of victimhood and fearful of appearing weak that it is hard to imagine him ever leading China out of the mess he has created. He could well be remembered as the leader who squandered history's most remarkable economic success story.
about the country's increasingly worrisome trajectory, both at home and abroad.
Artificial IdiocyFrank Rumpenhorst/picture alliance via Getty Images
坎布里奇—美国已达到 31.4 万亿美元的法定债务上限。 华盛顿眼看就要因为提高债务上限问题面临又党派摊牌,国会共和党寻求民主党让步换取他们的选票,许多人冷眼相向也是不难理解的。 美国人觉得这一幕似曾相识,故事通常以争吵不休的政客们在最后一刻达成妥协而告终。 因此,无需敲响警钟。
但这次重启可能会有一个不同的、悲惨的结局。 在 1955 年的电影《无因的反叛》中,詹姆斯·迪恩(James Dean)的角色在一场致命的“胆小鬼”游戏中幸存下来,在对手误判并驶下加利福尼亚悬崖的最后一刻跳出汽车。 随着美国经济急速滑向悬崖边缘,固执的共和党人显然无意踩刹车。 这可能意味着曾经难以想象的美国政府违约。
不幸的是,让共和党人将美国经济推下悬崖可能是拜登总统目前的最佳选择。 但美国至少还有五个月的时间跳出车厢。 财政部长珍妮特·耶伦(Janet Yellen)上周表示,她将采取一系列“非常措施”(所有这些措施在近几十年都变得相当寻常),让美国的清算日推迟到 6 月初。
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