My Weekly Reading for November 17, 2024

California’s Electric Vehicle Mandates Pose Challenges for Automakers

by Sarah Thompson, The Electric Car Times, November 15, 2024.

California’s upcoming electric vehicle mandates, set to take effect next year, are causing concern among automakers who believe meeting the requirements will be extremely challenging and could result in limited choices for consumers at dealer lots.

“I have not seen a forecast by anyone,” stated Jack Hollis, chief operating officer of Toyota Motor North America, during a recent roundtable discussion. “Government or private, anywhere that has told us that that number is achievable. At this point, it looks impossible.”

The push for electric vehicles in California is part of a larger effort to reduce emissions and combat climate change. However, the feasibility of meeting the strict mandates is being called into question by industry experts.

The Evolution of American Banking: A Historical Perspective

by Rachel Adams, Financial Insights, November 15, 2024.

In a reflection on the history of American banking, Arnold Kling discusses the evolution of the financial system and the impact of regulatory changes over the years.

Before the creation of the Federal Reserve, America faced financial crises periodically. Even after the establishment of the Fed, the country continued to experience economic turbulence.

The banking landscape in America underwent significant transformations, particularly in the deregulation era of the 1980s. Restrictions on branch banking were lifted, allowing for the emergence of large national institutions operating across state lines.

These changes paved the way for a more interconnected and efficient financial system, enabling capital to flow more freely across regions.

Reflecting on the historical context of American banking provides valuable insights into the evolution of the financial sector and its impact on economic stability.

Davy Crockett and the Bank of the United States: A Political Saga

by Michael Davies, Historical Perspectives, November 16, 2024.

Exploring the tumultuous relationship between Davy Crockett and President Andrew Jackson, Miles Smith IV delves into the political dynamics surrounding the Bank of the United States in the 1830s.

Crockett’s defiance of Jackson over the Bank’s recharter highlighted the tensions within the Jacksonian political movement. Despite his loyalty to Jackson, Crockett’s stance on the Bank and its constitutional implications led to a rift between them.

The ultimate defeat of Crockett in Tennessee underscored the complexities of political allegiances and personal convictions during this era of American history.

The legacy of Davy Crockett’s stand against Jackson’s actions serves as a reminder of the enduring debates over governmental power and financial institutions in American politics.

Rethinking the Unbanked Rate: A New Perspective

by Emily Carter, Financial Inclusion Forum, November 16, 2024.

Challenging conventional notions of the unbanked rate, Nicholas Anthony suggests incorporating interest in opening a bank account as a key factor in understanding financial inclusion.

By considering the level of interest among unbanked individuals, a more nuanced understanding of financial access and barriers to banking services can be achieved.

Reevaluating how we measure the unbanked rate sheds light on the complexities of financial inclusion and the diverse needs of underserved communities in accessing banking services.