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First, apologies to all of our faithful listeners for being 24 hours late with this edition of the Ricochet Podcast -- we were felled by technical issues yesterday with the first half of the show. But this one is worth the wait: first, Original Cast Member Rob Long is back from making TV great again and has been seated in his rightful place in the host chair (from Miami Beach, no less). Then, NYT columnist Ross Douthat stops by to talk about his thoughtful new book To Change the Church: Pope Francis and the Future of Catholicism (yes, of course you should pre-order it). It's a ruche discussion about faith, religion, and Pope Francis. Then, back to more secular matters with the always current Byron York, who brings us up to speed on the Mueller investigation,. the Omnibus spending bill, and some Stormy weather predicted for Sunday night. Uh oh.
Music from this week's show: Melancholy Serenade by The Jackie Gleason Orchestra
Discussion (14)
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Okay, you've totally out-snooted me. Even the thesaurus doesn't help. How does "a strip of pleated lace, net, muslin or other material for trimming or finishing a dress" pertain to a discussion of faith, religion and Pope Francis.
BTW, Rob looks like "Why am I just on the Trillion Dollar bill. I should be on the Quadrillion Dollar bill."
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Peter,
You're conflating Hamilton's "a well-managed national debt is a blessing"* with the US banking system, which was long notable for way too many banks, most of them way undercapitalized. There was some hope in the 80s and 90s that reforms would lead to better banking days, which is pretty funny in retrospect. Somehow the banks have always figured out a novel way to screw themselves every 5 t0 10 years throughout our history. We're probably due.
*Great Britain was the model (see The Sinews of Power). Compare France at same period. In a specie-strapped country like the early US, reasonably sound government bonds have the additional benefit of being useful as a form of money.
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