Rachel
Robert ReichRT @inequalitymedia
We need to bring back Glass-Steagall and make banking boring again.
We need to bring back Glass-Steagall and make banking boring again.
Mark Novak@rbreich @inequalitymedia What is more amazing about it getting repealed was that the banking protections were repealed right after a major Asian financial crisis. The act isolated or backs for the negative impact of that event at the time.
Make banking boring again, indeed.
(Alt: bubble graph showing size of bank failures comparing 2008 to 2023)
Virginia S. O'Possum@rbreich @inequalitymedia Increasingly I feel like all the New Deal and Progressive Era regulations just served to give us a false security in our institutions, one that the GOP and corporations have exploited shamelessly.
FirefighterGeek 
@rbreich @inequalitymedia Here's the disconnect.
When inflation is being seen primarily in luxury "want" items, increasing consumer interest rates can slow demand.
When inflation is being seen in food, fuel, and rent it can't. Consumers don't have the choice to stop buying food or fuel and they still have to pay rent even when it costs more to do so.
The FED is fighting a 1975 fight against a 2023 problem and it is making the problem worse.