News From the Control Tower - 3/18/2020

This week's reads feature the dangers of corporate debt exposed by the coronavirus, Cash App’s novel business model to grow its business by giving money away, obstacles to the success of the Fed’s recent monetary policy, Harvard Business Review’s study on the world-wide decline in democracy and its effect on free markets, and reaction to the U.S. airline industry’s request for a bailout.

1. Coronavirus Exposes the Danger of Corporate America's Debt Binge.

A slowdown in consumer and business spending could send heavily leveraged companies into default.

2. Inside Cash App Friday, the Weekly Phenomenon Where People Ask for Money on Twitter (and Get it).

Cash App Friday’s popularity isn’t derived solely from the chance to make a quick buck. The sense of community is compelling, as well.

3. The Fed's Barrage Faces Some Obstacles to Success.

The central bank's intervention carries the risk of backfiring.

4.The Business Case for Saving Democracy.

Why free markets need free politics.

5. Don't Feel Sorry for the Airlines

Before providing them any assistance, we must demand that they change how they treat their customers and employees.