Beware The Ides Of March

Beware The Ides Of March

Julius Caesar had it easy. Twenty-three stab wounds and lying on the floor of the Curia (Roman Senate building) on March 15th, 44 BCE. However, March 15th, AD 2023, seems just as chaotic as the same period as Caesar's assassination signaled the end of the Roman Republic and the transition to Empire. So, today there is economic "crisis" namely the banking sector. 


It an can be said that the collapse of the Silicon Valley Bank the other day is more than a financial institution having its liabilities exceed its assets. If one had taken a closer look, however, there were structural deficiencies that had been ignored. The situation could have been managed, in a zero-interest rate environment. That being said, the excessive spending from the Administration and Congress could not help but cause the rise in inflation. Silicon Valley and Signature, the other bank failure in as many days. Now, Credit Suisse has announced its own difficulties.


Now, these banks' collective failures invariably have political overtones. They were engaged to one extent or another in "woke" capitalism, a contradiction in terms. In normal circumstances, institutions like Silicon Vally would be allowed to fail as it had been the financial mis-management that had caused the crisis to begin with. Now, is the Administration contemplating a bail-out ? Across the board ?


The situation is more broad than just the financial aspects. On the anniversary of Caesar's murder, President Biden seems to be parroting the actions of the Dictator for Life. If one took some solace in the Willow announcement the other day, he can come back to reality With no apparent knowledge of how things work, Biden has said he wants Americans to get rid of all the high-capacity washers and dryers, get rid of gas stoves and the like. Now, why would anyone engage any of these "directives " when the equipment in question is of such convenience ?


There was a conspiracy to kill Julius Caesar by those Roman Senators because he had amassed too mush power. Now, President Biden thinks he has to bail out the banks and do everything else he has mentioned. Now, he won't get 23 wounds on the floor of the Capitol but he might not re-elected. That is unless Donald Trump is the opponent.

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