National Debt

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."

Something Wicked This Way Comes

"The narrative about an improving economy, thriving jobs market, and glorious future is bullshit. I know it. You know it. And your establishment puppeteers know it. But only “fake news” sites would dare reveal these inconvenient truths."

Monte Paschi Crashes To All Time Low, Rebounds After Government Agrees To Fund Bank Bailouts

In early European trading, shares of Italy's Monte Paschi halted after crashing 17%, dropping to fresh all time lows, after the bank warned its liquidity could run out far sooner than expected. But then, moments ago, its shares soared, recovering all losses when Italy's upper house of parliament approved a government request to borrow up to €20 billion to underwrite the country's troubled banks.

2016 Year In Review

We started this year with the economy deteriorating and finished it with the second interest rate increase in ten years. There were a lot of ups and downs along the way, but ultimately 2016 was defined by three key story-lines:  1) Brexit 2) The Presidential Election 3) Fed Policy. The first two events were votes that shocked the world. The stock market’s reaction to each was arguably even more shocking. 

Markets Award Trump Nobel Prize In Economics

It took only nine days in office for President Obama to be nominated for the Nobel Peace Prize. Likewise, the markets seem to have prematurely greeted Trumponomics as an outstanding success. There’s just one thing: Trump hasn’t done anything yet. We’re still weeks away from his inauguration, and details of his economic plans remain scarce.

The Narrative Changes: Republicans "Pour Cold Water" On Trump's Massive Stimulus, Will Block Tax Cuts

Trump’s race to enact a "huge" stimulus went under a caution flag as Mitch McConnell warned he considers current levels of U.S. debt “dangerous”, and said he any tax overhaul should avoid adding to the deficit. "I think this level of national debt is dangerous and unacceptable." McConnell also poured cold water on the idea of a massive stimulus package, effectively laying out markers on taxes and spending.

Trumpxuberance...Until It's Not

The Trumpublican voters and cheerleaders expect another Morning in America miracle. Sorry, been there, done that, that was then, this is now.

Don't Be Fooled. The Trump Rally Is Not A Sign Of Economic Health

In a genuinely free market, the profitability of firms is a good reflection of their ability to better satisfy the wants of consumers. In a world of this sort of crony capitalism, profits are de-linked from a connection with consumers and we cannot say with confidence that any given firm’s profits reflect value creation.

The Shocking Truth About How Barack Obama Was Able To Prop Up The U.S. Economy

Barack Obama is one of the biggest “Keynesians” of all time, but unfortunately most Americans don’t even understand what that means. By propping things up in the short-term, he has absolutely demolished our long-term economic future. But like most politicians, Obama has been willing to sacrifice the future for short-term political gain.