SBA served a good purpose 35 years ago. Hurricanes Rita & Ike radiated the "new SBA" and the overwhelming incompetence of FEMA. I just saw a story on the 10 o'clock news that has me throwing up because I saw the first demonstration of federal give away, and it screams "NO REVIEW, NO HISTORY, NO ANALYSIS, NO INVESTIGATION". An entity with a 40+ year history of incompetence, mismanagement, always on the brink of bankruptcy (I think it has filed several times under different names). Little things like the owners & chief of staff not having graduated from medical school or being licensed, but little things like that shouldn't stop them from doing surgery. One incarnation had a cash cow, but the surgeon was in the process of having his license revoked, but at least he was a US citizen. They announced they had been promised money to add on to meet the needs of the crisis and add a bunch of ventilators. Has medicare adjusted the reimbursement? That's why there aren't enough and people sent their family members from motorcycle wrecks a thousand miles away or treatment.
iatrogenic, taxes haven't skyrocketed because all the payments are deficit spending. There is the hidden tax of inflation.
Tom Luongo advocates Bankruptcy. It won't happen. We are going to see money printing. Good article though. The Monetary Abyss Stares Back And Asks Who's Next?
Read about the banking issues when Old Hickory was President. Eerie similarities to now if you consider the various currencies of state banks to be the bitcoin of the day. It all came crashing down, but tightening credit was a problem. We are still here, however.
