These both sound fun and would actually get me to watch hours of television (which isn’t something I do very often anymore). Especially Bismarck. There is just so much great material. But my own personal one would center around the life of Francisco de Miranda (and include the rumors obviously).

I also vouch for Guns of August though it’s dated and there are newer (w/ more archival research) narrative histories like Sleepwalkers on the same topic. The most impressive historical book I’ve ever read (and I know you’d get a lot out of) is Postwar by Tony Judt.

I’m pretty sure the OP’s point was about trust in gov to take such a monumental course of action without devolving into support/opposition based on tribal partisan lines. And Nils is I’m afraid 100% correct. It doesn’t bode well for our future that this is unimaginable today.

Nor did JFK (or LBJ) have to abide by the promise even as it became evident it was the proper policy course of action to take.

Of course JFK didn’t have to bite and make such a promise (I’m not an expert on electoral politics be it contemporary times or of 1960 USA so it’s hard for me to criticize the such a promise w/ too much conviction)

Yeah after I replied I scrolled down and read that it is visible in north Texas. That’s really neat y’all get to see it and enjoy it. That certainly could be a possibility. It’s on my bucket list on things to do in retirement is view it from somewhere near the arctic. Enjoy it :)

Can you see it? I know you’re a fellow Texan. It isn’t (or wasn’t an hour ago) in Houston :(

That power exclusively belongs to Congress.

Our expectation is that the ARS will rapidly decline vis a vis the USD! It’s a promise we insisted on ARG to make in its latest IMF agreement! The gall.

As to the other component, the outright purchase of ARS using USD, this is an outrageous, unconstitutional appropriation. This power is exclusively the purview of Congress. It’s a giveaway of (? They didn’t even bother to announce) to a foreign government.

which could theoretically work in the short term but not in any time horizon beyond that. Which is a very different aim of what a ‘swap line’ is achieving. And I’m offended that the Treasury would be taking this on and accepting the ARS as collateral. That goes for the ‘swap line’ component.

But for the explicit purpose of helping a foreign government that happens to stroke the ego of the current occupant in the WH do better in an election. I have my doubts about any kind of efficacy seeing as how Arg does not actually have USD reserves so this is just a play at spooking speculators

Yes it is nauseating after hearing so much nonsense & mischaracterizations of what US ‘foreign aid’ compromises of and what it achieves to have the loudest voices spouting this nonsense do the very thing they supposedly hate. And not for the purposes of hunger or health.

This is precisely why it is Secretary Bessent making the announcement & not Jerome Powell. This ‘swap line’ component of what was just announced is not a swap line in any traditional sense. It is a loan. Secured w/ flimsy collateral. That’s why it’s the Treasury and not the Fed.

His actions on the FOMC will be in service of what 😡 wants out of him/the FOMC. In his comments he’ll try to sound like a reasonable person behaving in a responsible manner. But his actions (it’s been one meeting) totally betray that.

Laying my cards on the table - His public statements & presentations reflect that he hasn’t given much serious thought to this or many other of the considerations we expect out of policy makers on a monetary policy rate making committee. He might think this is all 💩💩 for egg heads for all I know.

If he sincerely believed r* is .5% 1) He would be in full agreement w/ his colleagues (past & present) on the FOMC. 2) He wouldn’t be agitating for aggressive rate cuts as he did in the recent SEP.

He’s just saying what he knows sounds good bc saying ‘-1.5%’ would have him laughed at.