Speaking of the need among some people to repeat the mistakes of the past: the saga of Bud Light and its recent public-relations disaster is being amended with another chapter.
Financial markets are important to governments that need a lot of tax revenue to pay for their welfare states. The problem with taxes levied on financial markets is that they generate unstable revenue.
Several news sources have raised the volume about a possible systemwide banking crisis. I am not going to contribute to that. In fact, we should all be careful about determining whether or not such a crisis is at hand.
The cold, hard truth embedded in all these numbers is this: going forward, the U.S. Treasury will have to continue to raise interest rates just to keep investors from selling American government debt.
The European Central Bank president Christine Lagarde expects the bank “to raise interest rates further over the next several meetings” across the euro zone.
The Federal Reserve announced its intention to continue to reduce its holdings of U.S. sovereign debt and has no plans to return to buying Treasury securities.
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