Can Upside-Down Policies Prevent Another Financial Crisis?
Like you, I hope this Silicon Valley Bank crisis is contained. I never liked that word ‘contained,’ though, because that’s what government authorities kept saying throughout 2007 and 2008. They’re saying it again now.
Right now, we can hope that the financial system is safe and stabilized by some quick government actions over the weekend. Stock markets were mostly steady today. Treasury bond rates fell. Gold and silver rallied — that’s not a fabulous sign.
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