Steve Kelman on Politics, Culture, and Life, 3.16.23
Steve Kelman, Harvard Kennedy School prof, moderate Dem, pro free speech/anti cancel culture, pro tax rich, pro-Israel. Research improving gov performance, China interest. Blog reprints Facebook posts
Reimbursing large depositors at failed bank
Apparently, the government will be reimbursing depositors at the failed Silicon Valley banks with more than $250,000 in their accounts -- which apparently accounts for the vast majority of funds in these banks -- even though deposit insurance only covers $250,000. Do people think this is a good idea? I worry this is a bailout for the wealthy.
Biden advisor for Asian-Americans
President Biden's advisor for Asian-Americans is a Japanese-American who once worked for the Jewish anti-bigotry organization Anti-Defamation League. Very cool.
Florida Republicans libertarian: not
Republican legislators in Florida have introduced a bill to forbid teachers from using a pronoun to refer to a student other than the gender at birth. This is not exactly a libertarian party.
China’s hard-hitting journalism in Global Times: not
More hard-hitting reporting from China's Global Times: "Chinese Premier's down-to-earth approach at first press conference inspires confidence."
Chinese tourists abroad
There is an interesting article in Business Week about the hordes of Chinese tourists in other countries in Asia. This went down during the pandemic but is coming back again. The interesting thing presented in the article is that these tourists don't spend very much money in the countries where they travel. Most of the money is spent in China before the tourist leave, many of their purchases are at Chinese-owned stores where they are visiting, and where they are directed by the tour guides.