overview for mephiska

The Fed has now accumulated almost 190bn$ of losses, which effectively amounts to a stealth bailout of the banking system. in c/[email protected]

[–] [email protected] 4 points 5 months ago (5 children)

It's not a "stealth bailout." This is the result of the fed owning long maturity assets bought when rates were low, while the fed is now paying higher interest on the overnight bank deposits to keep rates high to control inflation. In 2018 this was predicted to happen if rates needed to be raised (ie to control inflation).

Here is the actual context for that chart

https://www.stlouisfed.org/on-the-economy/2023/nov/fed-remittances-treasury-explaining-deferred-asset

Marjorie Taylor Greene's book is a flop in c/[email protected]

[–] [email protected] 11 points 1 year ago* (last edited 1 year ago)

I always figured these politician written books were just another way to funnel campaign money into their own pockets. Campaign or associated big donors & PACs buy thousands of copies of the books with campaign money. She must not have as much support as she though and her own campaign might be cash strapped.