Politics View All →
Are Free and Fair Elections a Thing of the Past? Reviewing the 2022 Election
We warned after the 2020 Election that if we didn’t address the election steal at that time, we may never again partake in free and fair elections. After last night’s Senate runoff in Georgia, we now ask – Are free and fair elections a thing of the past? Let’s review the 2022 election results to […]
Read More →BREAKING: Former GOP Representative Lee Zeldin Decides Not to Run for RNC Chair FOR NOW – Says Ronna Romney McDaniel Should Not Be Elected Chair
Lee Zeldin from New York, the former GOP US Representative and GOP candidate from New York announced moments ago that he is not running for the GOP Chair position right now. Lee Zeldin, the former US Representative who almost won the recent election for governor in New York, has decided not to run for RNC […]
Read More →Communist Colombian VP Wants “Colonizing Countries” to Pay “Racial Justice” Reparations to African Descendants
The reparations movement is now going global. On Monday, radical left Colombian Vice-President Francia Márquez demanded before the United Nations that predominately white nations pay Afro-descendant and African people for the sin of slavery. Márquez assumed the VP office under Marxist President Gustavo Petro, a former member of a Colombian terrorist organization. She is the […]
Read More →Economy View All →
Telcos seek EO for permanent expedited tower permit process
THE telecommunications industry and the Anti-Red Tape Authority (ARTA) are asking President Ferdinand R. Marcos, Jr. to issue an executive order (EO) to make permanent the expedited permit process for the construction of towers and other internet infrastructure. ARTA and the telcos, represented by the Private Sector Advisory Council (PSAC) Digital Infrastructure Sector, noted that […]
Read More →DENR plans to update small-scale mining rules
THE Department of Environment and Natural Resources (DENR) said it hopes to remove “outdated” rules for small-scale miners after announcing a review of a 1991 law governing that segment of the industry. “We will be undertaking a comprehensive review of the existing legal framework (for) mining — this will be the first area that the […]
Read More →Export development plan expected early next year
THE Philippine Export Development Plan (PEDP) is expected to be released by early next year following completion of a review by the government, the association of exporters said. Sergio R. Ortiz-Luis, Jr., Philippine Exporters Confederation, Inc. (Philexport) president, told reporters on the sidelines of the National Export Congress 2022 in Pasay City on Wednesday that […]
Read More →Philippines signs deal to prepare agencies to tap climate financing
THE Department of Finance (DoF) said it has signed an agreement with the Global Green Growth Institute (GGGI) to prepare government financial institutions and agencies to tap the Green Climate Fund (GCF) for project financing. “This program will bolster the country’s capacity in planning, accessing, delivering and monitoring climate finance through this new global financial […]
Read More →Investing View All →
Diamond and Dybvig and the Panic of 1907
My last post argued that, despite what Diamond and Dybvig’s famous theory suggests, bank runs have seldom proven fatal to otherwise sound banks. Instead, when people run on a bank, it’s usually because it’s already in hot water. In response to that post, a Twitter correspondent wondered whether the Panic of 1907—the proximate cause of […]
Read More →Diamond, Dybvig, and Government Deposit Insurance
The 2022 Nobel Prize in Economics is to be shared by Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig, “for research on banks and financial crises.” Diamond and Dybvig are best known for their 1983 article, “Bank Runs, Deposit Insurance, and Liquidity,” in which they claim to have shown that purely voluntary bank […]
Read More →Bank and Crypto Runs: F(ac)TX vs Fiction
On October 10th, Douglas Diamond and Philip Dybvig won the Sveriges Riksbank Prize in Economic Sciences, sharing it with Ben Bernanke “for research on banks and financial crises.” According to the prize committee, Diamond and Dybvig’s research showed how the combination of borrowing short and lending long exposes even sound banks to runs, since the […]
Read More →World News View All →
Trump Organization found guilty of tax fraud scheme
NEW YORK — Donald Trump’s real estate company was convicted on Tuesday of carrying out a 15-year-long criminal scheme to defraud tax authorities, adding to the legal woes facing the former US president as he campaigns for the office again in 2024. The Trump Organization — which operates hotels, golf courses, and other real estate […]
Read More →China’s hopes of looser COVID rules set off rush for fever drugs
BEIJING/SHANGHAI — Tired of being cooped up to comply with China’s strict anti-COVID rules, people awaited clarity on an easing of restrictions that could be announced as soon as Wednesday, while the more cautious rushed to buy cold medicines and home test kits. After President Xi Jinping chaired a meeting of the Communist Party’s politburo, […]
Read More →Maryland governor bans use of TikTok on state devices
WASHINGTON — Maryland Governor Larry Hogan issued an emergency directive on Tuesday prohibiting the use of Chinese-owned short-video sharing app TikTok on state government devices and networks, the latest US Republican to crack down on TikTok. South Dakota Governor Kristi Noem last week signed an executive order barring state employees and contractors from installing or […]
Read More →Russia could ban oil sales, set maximum discount in response to cap — Vedomosti
Russia is considering three options, including banning oil sales to some countries and setting maximum discounts at which it would sell its crude, to counter the price cap imposed by Western powers, the Vedomosti daily reported on Wednesday. The $60-per-barrel price cap, set by the G7 nations, the European Union and Australia, came into force […]
Read More →New York Times union members set to walk out on Thursday after talks fail
More than 1,100 union employees at the New York Times Co. are set to walk out on Thursday for 24 hours as negotiations with the news publisher for a “complete and equitable contract” failed on Tuesday, the union said in a tweet. The NYTimes NewsGuild last week had pledged to walk out on Dec. 8 […]
Read More →Vietnam’s EV maker Vinfast files for U.S. IPO to fuel global expansion
HANOI – Vietnam’s electric-vehicle maker VinFast said on Tuesday it had filed for an initial public offering (IPO) in the United States to list on the Nasdaq under ticker symbol “VFS” to fund its expansion with a planned plant in North Carolina. VinFast, which began operations in 2019, is gearing up to expand in the […]
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