My letter to the Wall Street Journal re: Debt Forgiveness

 Re: Biden to forgive $238 million in cosmetology student loans

Since when did America become a dictatorship? Isn't Congress suppose to have a say in spending? These loans are made by private banks and are only guaranteed by the government. Can the government simply inform the private banks that its customers need not repay their loans and then the banks must go through the process of trying to get the government to honor its guarantee? And why is the US Department of Education guaranteeing loans in the first place?

This abuse of the rule of law has to stop.

Patrick Barron

My letter to the Wall Street Journal: Why the ECB must end QE and all other market interventions

 Re: A Big Risk Hanging Over European Banks: Leveraged Loans

The cognitive dissonance of the ECB is clearly exposed in its desire that banks make more loans, which they can do only by taking more risk, and at the same time worrying about banks taking on more risk. It is past time for central banks to admit that they really cannot stimulate the economy with monetary policy. What looks like "stimulus" is really nothing more than taking on more risk and all its accompanying evils.

Patrick Barron