@patio11's Latest Twitter Threads

I’m not sure whether this will take off (ba dum bum) but always good to see new fundamental innovation in logistics, particularly when it is shaped like something which would have struck almost anyone as a joke a few years ago. t.co/17RmqDRzBn

The first sentence is God's honest truth, and to be honest, it snuck up on me. I am not making a claim to knowledge and/or power because I am acutely aware that consensus does not allow people with knowledge and/or power to claim that... t.co/BXyeNJNcAN

I also feel this, and feel like we’re in that relatively brief period before Of Course Everyone Always Knew That… t.co/bh2rgeOJJ2

A concept that I find useful for understanding the logic of deposit insurance is "local elites." In the typical context for a bank failure, a small town's community bank, you are trying to insure the mayor, the pastor, the principal, many local business owners, etc.

I went back and forth quite a bit on whether to invoke the word “crisis” and am a bit glad to see that the Overton window adjusted to include that having been a real risk on the same day: t.co/RYhOigFuG2

Today's Bits about Money is about the banking situation. You can find analysis about the three institutions that failed elsewhere; this is about what causes, institutional response, facts about the world currently underappreciated, and recommendations. t.co/qS8Y5zWXdR

Bits about Money will be out this morning U.S. time, covering the banking situation. I am currently trying to edit it to dial appropriate detail, nuance, and level of concern.

Markets seem to be coming around to this point of view, unfortunately. t.co/qdr80zLN2Z

This is likely to be a bit of a bumpy week for the financial system, and if you need to, I would reserve some bandwidth for dealing with those developments as they come.

Joint statement by the Fed, Treasury, and FDIC: t.co/plCN7MMALw