"In honor of the Donald’s “Mother of All Bomb” (MOAB) attack on the Hindu Kush mountains Thursday, let me introduce MOAD. I’m referring to the “Mother of All Debt” crises, of course... The opening round is coming when Washington goes into shutdown mode on April 28, which happens to be Day 100 of the Donald’s reign."
Federal Reserve Bank of Dallas President Robert Kaplan had lots to say this morning that, for now, the market has chosen to ignore. He warned "we are highly leveraged" implicitly warning President Trump that the country’s ability to boost growth through debt is limited(thanks to President Obama's doubling of the national debt as The Fed held rates at zero during his term?)
More than 50 years ago, President Dwight Eisenhower warned us not to let the military industrial complex endanger our liberties or democratic processes. We failed to heed his warning. Wake up, America. There’s not much time left before we reach the zero hour.
"Those that were hoping for some sort of “reprieve” under Donald Trump can forget all about that now. The pace of global events is really starting to accelerate, and the U.S. is already in a more precarious position than it was at any point in 2016."
"These are some serious headwinds, and it’s not clear what offsets them. Could be that the only source of future growth is the government, which means the Fed will soon have to reverse course, cutting interest rates and buying up even more of what used to be known as the free market."
Unusually gifted individuals come along once in a lifetime to disrupt the plans of the existing social order. Despite the forlorn hope Donald Trump or some other savior can reverse our course, decades of missteps, dreadful decisions, ineffectual leadership, and unconcealed treachery have paved a path to destruction for the American Empire.
When one strips away the partisan rhetoric and posturing, the practical impact of Friday's GOP failure to repeal Obamacare has a specific monetary impact: a funding hole that is at least $1 trillion bigger, and perhaps as large as $2.2 trillion.