Nearly half the money — $143 billion — went to holding companies for the two major banks that failed over the past week, Silicon Valley Bank and Signature Bank, triggering widespread alarm in financial markets.
Well yeah that was my point, I disagree. It's not so much about the policy itself that is insightful but what it can tell us about the system as a whole.
For example, this round of propping up the financial sector is turning out quite different than the last. Whether it ends up becoming a new thing to supplant neoliberalism or just a modification of it is yet to be seen.
The cause is also interesting, the end of QE and the rate hikes which were intentional. Not sure how much I believe it was to curb inflation but how they explain their actions can be insightful in its own way.
This also triggered a series of sovereign debt crises in the third world, like Sri Lanka and others.
But anyway my point is that what might seem like useless information in isolation can be very useful when looking at the system as a whole due to the integrated nature of the world financial system.
Well yeah that was my point, I disagree. It's not so much about the policy itself that is insightful but what it can tell us about the system as a whole.
For example, this round of propping up the financial sector is turning out quite different than the last. Whether it ends up becoming a new thing to supplant neoliberalism or just a modification of it is yet to be seen. The cause is also interesting, the end of QE and the rate hikes which were intentional. Not sure how much I believe it was to curb inflation but how they explain their actions can be insightful in its own way. This also triggered a series of sovereign debt crises in the third world, like Sri Lanka and others.
But anyway my point is that what might seem like useless information in isolation can be very useful when looking at the system as a whole due to the integrated nature of the world financial system.