Subsidizing Higher Education Is Not Creating Widespread External Benefits

A New York Times investigation reveals the US aided in an attack on a cattle and dairy farm in Ecuador earlier this month. The Department of War claimed the operation targeted a drug lab.  In early March, the US and Ecuador conducted joint military operations against alleged drug targets. “The operations are a powerful example […]

Terrible 2Y Auction: Biggest Tail In 3 Years, Dealers Highest Since 2022 With both foreign and domestic investors dumping gold (and anything else not nailed down) to fund oil, at its brand sparkling new price of $170 (in Asia), we were wondering how long before the lack of disposable cash hits US debt. We got the answer today at just after 1pm when we got the results of today's $69 billion 2Year bond auction. In a nutshell, it was terrible. The auction priced at a high yield of 3.936%, up from...