3 ms·
> Congress are cowards and won’t do what should be done - raise taxes. They're still cowards for not doing it but what should've been done is an increase in in
by mxkopy 4y ago
> Congress are cowards and won’t do what should be done - raise taxes.
They're still cowards for not doing it but what should've been done is an increase in interest rates half a decade ago.
- lazide 4y agoThe fed tried - and the chairman almost got fired for it. Remember? [https://www.cnbc.com/amp/2018/12/22/trump-reportedly-wants-to-fire-fed-chair-powell.html https://www.cnbc.com/amp/2018/12/22/trump-reportedly-wants-t...] Almost 5 years ago exactly.
- asimpletune 4y agoYeah it's crazy bc everyone's talking like it's just the rise in rates that's to blame for the asset/deposit mismatch, but really it was the 0% interest rates that came before that really did it. It was during that time that SVB had a lot of extra deposits, but no short term way to back it, since short term t-bills were paying practically 0% interest.
- deleted 4y ago[deleted]