How interesting that the article uses ‘right-wing authoritarianism’ for the conservative finding, but only calls the liberal one ‘strong moral concern for plants and animals.’

New psychology research pinpoints a key factor separating liberal and conservative morality A new study published in Personality and Social Psychology Bulletin suggests that liberals and conservatives actually share a common foundation for morality based on preventing harm. The research …

READ MORE

Inflation as a moral hazard

By Claudio Grass As I have argued many times in the past, the corruption of money itself and its purposeful devaluation is by far the most important problem facing not just investors and savers, but virtually every single citizen on the face …

READ MORE

Vatican’s Becciu scandal reveals corruption, betrayal; financial turmoil echoes, reshaping Church’s moral and structural foundations.

The narrative surrounding Cardinal Angelo Becciu’s scandal paints a vivid picture of corruption and betrayal within the Vatican’s sacred walls. The intense courtroom proceedings, under Giuseppe Pignatone’s watchful eye, unravel a complex web of financial crimes involving key figures. The …

READ MORE

Liquidity Fairy Alert! It just keeps going up! Bank Term Funding Program usage above $100B for the 15th consecutive week! ($107.993B vs $107.855B 9/6). An over reliance on central bank funding, the BTFP is a moral hazard! As of 8/31/23, $2,173,066,000 in interest to survive another day.

by Dismal-Jellyfish Borrowing from the Bank Term Funding Program hit a NEW all time high–the 15th consecutive week above $100 billion! What we are reviewing: Bank Term Funding Program (BTFP) Discount Window/Primary Credit “Other Credit Extensions” I hope to shed …

READ MORE

Liquidity Fairy Alert! Up and up it goes! Bank Term Funding Program usage above $100B for the 13th consecutive week ($107.527B vs $107.386B 8/17). An over reliance on central bank funding that is growing faster than the rate of inflation, BTFP is a moral hazard!

by Dismal-Jellyfish Borrowing from the Bank Term Funding Program hit a NEW all time high–the 13th consecutive week above $100 billion! What we are monitoring: Bank Term Funding Program (BTFP) Discount Window/Primary Credit “Other Credit Extensions” I hope to shed …

READ MORE

Liquidity Fairy Alert! Bank Term Funding Program usage UP AGAIN (.4% to $107.242B vs $106.864B 8/9), marking the 11th consecutive week over $100B. This looks more and more like there’s an over-reliance on Fed Funding–growing faster than inflation ‘should be,’ I believe the BTFP is a moral hazard!

by Dismal-Jellyfish Borrowing from the Bank Term Funding Program hit a NEW all time high–the 11th consecutive week above $100 billion! What we are monitoring: Bank Term Funding Program (BTFP) Discount Window/Primary Credit “Other Credit Extensions” I hope to shed …

READ MORE

Liquidity Fairy Alert! Bank Term Funding Program usage rose this week ($102.927B vs $102.305B on 7/12), marking the 7th straight week over $100B. It’s looking more and more like there’s an over-reliance on Fed Funding. I believe this be a moral hazard.

by Dismal-Jellyfish Borrowing from the Bank Term Funding Program is on the increase again! What we are monitoring: Bank Term Funding Program (BTFP) Discount Window/Primary Credit “Other Credit Extensions” I hope to shed light on the recent uptick in borrowing …

READ MORE

Liquidity Fairy Alert! Bank Term Funding Program usage rose this week ($102.305B vs $101.959B on 7/5), marking the 6th straight week over $100B. It’s looking more and more like there’s an over-reliance on Fed Funding. Could this be a moral hazard?

by Dismal-Jellyfish Borrowing from the Bank Term Funding Program is back on the increase! What we are monitoring: Bank Term Funding Program (BTFP) Discount Window/Primary Credit “Other Credit Extensions” I hope to shed light on the recent uptick in borrowing …

READ MORE

Sliding Commercial and Industrial Loans and the Bank Term Funding Program: How the Fed’s Two-Tiered System is Distorting Idiosyncratic Risk in the Market and Setting Us on a Risky Path Towards Moral Hazard.

by Dismal-Jellyfish Reminder, while banks have the liquidity fairy, ‘we’ get the promise of 2 more rate hikes this year, Atlanta Fed President Raphael Bostic yet again enrichens himself inappropriately from his position. What I want to talk about tonight is something new–Commercial …

READ MORE