The Likely Banking Crisis and the Curse of Bromides
Or How to Tell Whether Your Friends Know Finance
You can determine who is an independent thinker and who isn’t by looking at their talking points. Those who make intelligent arguments tailored to the new situation likely are, while those who rehash arguments that applied only to the last crisis aren’t. Assuming a banking crisis occurs, you will learn a lot about your friends this way.
Nonsense about "greed and corruption" doesn't make much sense when banks are buying T-bills excessively. Yeah, those greedy fucks speculating on T-bills in an increasing rate environment. The irony is that, of course, greedy fuck could be significantly less exposed to duration risk than those who played it safe. Their unwillingness to embrace complicated financial transactions simpletons associate with greed is driving these bank failures.
You will find out who actually understands banking, finance, and economics and who memorized some op-eds from Slate.