This doesn’t make sense to Karl Smith, and it doesn’t make sense to me either. What sort of conditions in the world are going to lead the United States to repudiate its debt while New Canaan, Connecticut just chugs along without problems? Yglesias wants to knowSay a condition in which the Fed ceded monetary authority to regional banks and they discover this gem of a municipality with great business prospects. Meanwhile the Fed refuses to buy US Treasuries because they are a bad deal for America.
Tuesday, August 9, 2011
Accurate banking?
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