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1776-1933 - major bank crisis every 10 years
1930s - FDR bank rules enacted
1930s-1980s - no major crisis
1980s - rules rolled back
1980s-2010 - major crisis every 10 years
2010 - Dodd-Frank rules enacted
2010-2018 - no major crisis
2018 - rules rolled back
2023 - crisis?
@tristansnell bank rules, interest rates, and bond math are #woke
@paninid @tristansnell also reality
@tristansnell @rysiek It just does not make any sense why this keeps happening. :P
@tristansnell Indeed.
Capitalism and 'the free market' cannot function without rules. For without rules, there is no difference from anarchy.
@blauwbaard @tristansnell anarchy is not a lack of rules, it is a lack of rulers.
@blauwbaard @tristansnell I once read that a less-well-known version of the term “free market” is “one free of rentiers” (i.e., capital creating more capital via rent-seeking, instead of via production), and this requires balanced regulation.
It’s stuck with me and it’s the kind of markets I think we should have.
@tristansnell Frank being on the board of one of the failed banks this weekend (the not-SVB one) is the chef's kiss here.
@tristansnell Clinton dismissed Glass-Steagall, of course.
@tristansnell For a while there was had Sarbanes-Oxley too, which eventually was set aside.
@tristansnell I'm starting to see a pattern …
@tristansnell it’s not a crisis … it’s rich folks fucking around.
@tristansnell the apex of creation at work
@tristansnell This 
f&$king THIS
.
Also I am beyond sick of people acting like the modern Dems are blameless in this Glass Steagall was repealed in 1999 with Dem support under president Clinton in 1999, under a Dem president!!!
@voron @tristansnell I, a Democrat, never once voted for a Clinton until I had to vote against a Trump. Clintons are neo-Dixiecrats.
@tristansnell Republicans will never learn…their greed will be their final undoing
@tristansnell where does the S&L crisis fall in there?
Is that a result of the 1980s deregulation?
@tristansnell Empirical evidence --- over and over and over, and, it goes back to ancient Rome --- that The Neoliberal Order will always crash the system. Always has, and, always will. Something more akin to The Metaeconomic Order is the only hope.
@tristansnell how far back can we go? Deuteronomy even has banking rules.
@tristansnell Don't forget to add which party did the rollbacks (R) and which did the regulations (D).
@tristansnell It's like...there's a pattern there 
@tristansnell and trace the origins of all those involved and sue them! Oh wait, all of them (R) are involved in their last disaster! https://medium.com/writeoutloud4u/lock-him-up-lock-him-up-lock-him-up-aa145ddeee25
@tristansnell Empirical evidence is strong that unfettered self-interest and the invisible hand have never worked, and, never will work: It is just a Fantasyland created by the Chicago School (and Public Choice School) of Economics, and, Adam Smith would not be happy.
MapleI couldn't afford any food other than instant noodles in January, and that included doing sex work to make ends meet.
I would call that a crisis even if rich people don't notice that food cost doubled.
@tristansnell @Karoli feels like a pretty solid pattern to listen to.
