Tag Archives: san joaquin valley
How the Fed Chokes the Economy
There’s no outlet in the San Joaquin Valley for the salt to flush. The valley is the basin’s terminus. Thus, in this grand paradox, the relative freshness of the excess water that is keeping the farmland alive is, at the same time, the source of the salt that is killing it. Continue reading
Choking On the Salt of Debt
Roughly three years ago, after traversing between Los Angeles and San Francisco via the expansive San Joaquin Valley, we penned the article, Salting the Economy to Death. At the time, the monetary order was approach peak ZIRP. We found the … Continue reading
Salting the Economy to Death
One popular delusion that won’t seem to go away is the notion that policy makers can stimulate robust economic growth by setting interest rates artificially low. The general theory is that cheap credit compels individuals and businesses to borrow more … Continue reading
