Financial Literacy Month

Sometimes they make my job too easy.

An April 4 joint press release by the Federal Reserve Bank of Chicago and Visa, Inc. trumpeted the main points made by speakers at the National Literacy Summit.  Earlier — March 31, 6:52 pm, although delaying the announcement by six hours would have made more sense — President Obama announced that April was National Financial Literacy Month.  My irony meter exploded.

This from the guy who gave us government budget deficits of over $1 trillion.  There is at least some evidence that global credit markets have added about 20 basis points to the yield on ten-year government bonds to reflect the increased default risk.