Listen to my latest, early July 2021 radio interviews (15-30 min. ea.) on state of the US economy, whether sustained recovery is underway or not, and latest developments re. inflation, jobs, infrastructure negotiations, growing wealth inequality, Fed policy, etc.
TO LISTEN GO TO:
https://drive.google.com/file/d/1cgqHUp8IvMUOdVNYOaxaVCqEv4yvWDAP/view
https://www.spreaker.com/user/8544886/price-hikes-and-inequality-in-the-new-gi
Jack, do you believe that another liquidity crisis has started in the banking system? I ask because of the action taken by Wells Fargo to reduce lines of credit.
No. Commercial banks like Wells are awash in liquidity, from the Fed’s $4T injections in 2020 and continuing $120B/mo. Some shadow banks, like some hedge funds, are having some problems because of withdrawals by clients or refusal of commercial banks to lend them, but that’s because of their mismanagement of investments