Mar 14Liked by Philo

Good analysis but on a forward curve, the government now also has to borrow at a higher interest rate (on a higher aggregate amount of debt)...unclear it's a victory worth celebrating

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> the broader point here is that people will debate the meaning of a miniscule bailout that makes it into the headlines because of the circumstances but never notice the stuff going on in the background that ends up being a much bigger deal.

As individuals we all need to surf the waves created by massive government interventions into the market.

Is this really the optimal economic policy?

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