This is an amazing book. Wild Swans: Three Daughters of China is about one family’s experience in China before and during the Communist era. The author’s parents were high up in the Communist Party at the time of the Communist Revolution, and then they suffered mightily during the Cultural Revolution. The author, Jung Chang, has… [Read More]
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Tag: politics
CD rates are likely to rise as the shutdown plays out
Interest rates are made of up three components: opportunity cost, inflation, and default risk. US treasury rates are considered to be free of default risk, so they consist of nothing more than opportunity cost and inflation. Federally insured bank CD rates are close to treasury rates. Now, the US government could always avoid default by… [Read More]
Waiting on Congress
Like everyone else, I’m waiting to see what happens in Congress on the debt ceiling. We need to raise the debt ceiling, raise revenues, and cut spending. All three are necessary. There is no magic solution, and default will be ugly. I love my country. I wish everyone in Washington did, too. It seems like… [Read More]
