Daily Archives: 1 May 2018

A Graph

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The Wall Street Journal had a piece on shifting bank deposits, and in that article was an interesting graph.  The article itself is worth the read, but the graph has, I think, wider import.

The graph illustrates the differing rates between what banks pay on depositors’ accounts compared to what money market funds pay, but look at the rates as indicated on vertical axis.  Plainly, these aren’t the heady days of the early ’90s when money market funds like Dreyfus’ Worldwide Dollar Fund was paying in the region of 6%-8%.  This graph, instead, illustrates the effect of the Fed’s continued suppression of market interest rates, even if they are—slowly—allowing their benchmarks to come up a bit.

Who cares about these rates, besides businesses? Folks on fixed income, folks illustrated by the stereotypical widows and orphans, who have no other sources of income.  More normal market interest rates are in the region of 3%-4%.

The Fed needs to finish getting out of the way.  But they’re not the only ones.  Dodd-Frank suppresses banking competition.  Too big to fail pits large banks against regionals and locals, but Dodd-Frank, by guaranteeing the big banks against failure, has eliminated competition among the big banks.  Congress needs to get rid of Dodd-Frank so all banks will compete against all banks.  And offer higher rates on savings and checking deposits.

The Veterans Administration

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…won’t clean up after itself.  In this instance, literally.  This is the VA “hospital” room a veteran was placed in when he went to that…facility…for treatment that involved 18 injections.  Injections to be done in a room as filthy as this.

Dr Karen Gribbin, the chief of staff at the George E Wahlen Department of Veteran Affairs Medical Center, on Saturday reportedly said that Wilson should not have been in the room. She said the rooms should be cleaned prior to each patient and called on an investigation.

Wahlen is the imitation hospital at which this failure occurred.  The vetaran’s father, who posted the tweet, also tweeted

The condition of the room was the way it was when he went in, no other room was offered and no attempt to clean it up was made for the duration of his appointment[.]

Gibben also admitted that the veteran got his injections in that dirty room, but she claimed that the injection equipment—the needles, for instance—

would have been used just on him.

While that is, in fact, highly likely, how can we be sure, given the condition of the room and the level of professionalism and of integrity demonstrated by going ahead with the patient’s treatment there?

And this:

Gribbin was asked what the typical procedure was for when to clean patient rooms in order to ensure they are clean for each visit.

“We are investigating that. To be quite honest I do not work in that clinic area and I am not sure…exactly what that process is. We will be absolutely clarifying that, making sure our policies and procedures are well thought out and well communicated to staff[.]

She’s the Chief of Staff.  How is it possible that she does not know her own procedures or protocols?

Again, I say: disband the VA altogether and use its budget and nominal future budgets for vouchers for our veterans to see the doctors, clinics, and hospitals they choose, when they choose, and for the care they choose.  Enough of the VA’s trash.  Literally.

The original tweet, posted by the veteran’s father, can be seen here.  Poke through the reply thread, too.

 

Veteranos Administratio delende est.