Bill Foster: “The American who sells that land gets to put that money in the bank or into other investments that will grow the U.S.…”

Frankly, when I read about this, it triggered my PTSD from the AIG situation with credit default swaps during the financial crisis.

While the Presidency is often the focus of political pronouncements about macroeconomic conditions, there is no question that it undersells the importance and the independence of the work of the Federal Reserve Board.

If you conclude, as you are actively studying it, that you need more visibility into certain areas of, particularly nonbank things that may be parts of the chain of contagion, please let us know, because it is our job to avoid the next…

The good news is that macroeconomic policy is working as designed.