• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Nomination

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China Warns 'Will Respond To Trump Presidency'





Speaking through its mouthpiece Global Times, China has published its first reaction to "unpredictable" Trump's position as presumptive Republican nominee and their expectations of a Trump vs Clinton fight for The White House... "This scenario is becoming increasingly serious..."

 
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Frontrunning: May 4





  • Donald Trump’s Win Just Latest Tremor Shaking GOP (WSJ)
  • Trump Becomes Presumptive Republican Nominee as Cruz Exits Race (BBG)
  • How 'Stop Trump' failed to halt the Republican front-runner (Reuters)
  • Islamic State seeks news blackout in Mosul as Iraqi army nears (Reuters)
  • U.S. gathers allies on next steps in Islamic State fight (Reuters)
 
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Global Stocks Slide As Dollar Continues Rising: Has The "Pricing In" Of Trump Begun





While there was no unexpected overnight central bank announcement unlike yesterday's surprise by the RBA which unleashed volatility havoc in the FX market, which promptly spilled over into all asset classes, overnight stocks around the world saw another leg lower without a tangible catalyst, while EM currencies fell to a one-month low after two Fed presidents raised concern investors had become too complacent in their belief that U.S. interest rate raises will stay on hold. Or perhaps all that is happening is that after ignoring Trump, the market is starting to finally price in the possible reality of the Donald in the White House (although as Jeff Gundlach pointed out, Trump would be a far better president for the economy and the market than Hillary or Bernie).

 
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Ted Cruz Explodes In Epic Anti-Trump Rant: "He Is Utterly Amoral, Narcissist, Philandering, Pathological Liar"





"I’m going to do something I haven’t done the entire campaign. I’m going to tell you what I really think of Donald Trump. This man is a pathological liar. He doesn't know the difference between truth and lies. He lies practically every word that comes out of his mouth. And in a pattern that I think is straight out of a psychology text book, his response is to accuse everybody else of lying."

 
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The Beginning Of The End For Cruz? Here Are Five Things To Watch For In Indiana Today





Update: *PAUL RYAN SAYS TRUMP WILL BE NOMINEE IF HE WINS INDIANA: CNBC

Today's primary in the Hoosier State could prove to be the last stand for Ted Cruz and John Kasich, as The Donald looks to deliver the final knockout blow to the two challengers. If Trump wins, it certainly would be an embarrassment for a GOP establishment that has literally done everything it can to stop Trump, most recently touting the Cruz/Kasich alliance that self-destructed just hours after it was announced.

 
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Two Wrongs Don't Make A Right - Is Fiorina The Fall Gal?





What does this absurd gimmick tell us about him, given that he cannot possibly win the required number of delegates any longer? A sign of mental illness perhaps? Probably not. We think it is telling us that he is desperately trying to ingratiate himself with the Republican establishment – which is firmly anti-Trump for the simple reason that Trump is a genuine threat to its cozy cronyism. The only purpose of Mr. Cruz’ continued participation in the primaries is an attempt to deny The Donald the majority of delegates in order to bring about a brokered convention.

 
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Frontrunning: May 3





  • Global stocks slide as yen, euro gains question policy potency (Reuters)
  • U.S. Index Futures Signal Stock Losses as AIG Drops on Earnings (BBG)
  • EU Sees Weaker Growth in Eurozone and Wider EU as China Slowdown Weighs (WSJ)
  • Euro Set for Longest Run of Gains Since 2013 as Fed Focus Fades (BBG)
  • German Bonds Advance as EU Cuts Euro-Area Inflation Outlook (BBG)
 
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Ben Tanosborn: How Blacks & Latinos Will Lose The Election For The Democratic Party In 2016





The probable end result, when subtracting from the potential Democratic vote disenchanted millennials, economic-revolutionaries, and doves could easily bury any and all hope for the Clintons to return to the White House.  Many millennials won’t vote; and many impoverished whites in the Democratic Party will feel forced to switch their anti-establishment allegiance from Bernie to Donald Trump, as incongruent as that may seem, hoping for a better economic future and/or a more constructive, less confrontational hawkish attitude internationally. For all the antipathy that might exist between African-American and Latino “super-minorities” and Donald Trump, it is these major minority voting blocks that appear to be clearing the path for this Demeaner-in-Chief to exchange his ostentatious quarters in Trump Plaza for the more modest ceremonial trappings of the White House.

 
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Trump Leads Clinton In Latest Poll As Cruz Suffers 'Death Cross'





As the make-or-break Indiana primary looms for the GOP establishment, Ted Cruz suffered a develishly-dismal day. First, as Gallup reports, Cruz's favorability has utterly collapsed in the last few days (blame Carly?) with 45% unfavorable to 39% favorable (a negative spread for the first time in his campaign). But it got worse, as not only does trump hold a commanding 15-point lead in Indiana, but the latest Rasmussen survey shows Trump (41%) ahead of Hillary (39%) for the first time as The Donald is now doing twice as well among Democrats as Clinton does among Republicans.

 
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A Decade Of Maximum Peril





The sad truth may be that rackets of this kind are unreformable, and that we can’t begin to do things differently until they collapse. Likewise in virtually all other areas of American life, the real trend as yet un-discussed in this election campaign, will be unwinding and downscaling of the onerous, toxic hyper-complexity of the age now passing and finding our way to a workable re-set of what used to be known as political-economy. In the meantime: a clown show.

 
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Is This The Ultimate Act Of A Frantic Establishment Willing To Do Anything To Stop Trump?





As Donald Trump inches closer to the Republican nomination, GOP insiders scramble to put a halt to the billionaire’s run for the White House. A new lawsuit filed in the state of California could prove to be the ultimate act of desperation by a frantic establishment willing to go to any lengths to end Trump’s bid for the Oval Office. However, if the allegations contained within the court documents are found to be true, they would not only spell the end of Trump’s presidential aspirations, but most likely his brand as a whole.

 
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With A Double Digit Lead In Indiana Polls, Trump Calls The Race: "It's Over, Cruz Can Not Win"





Ahead of the Indiana primary on Tuesday, Donald Trump holds a 15 point lead in the polls according to the Wall Street Journal, and it is starting to become inevitable (at least for those not named Cruz and Kasich) that The Donald will be the Republican's choice to run against Hillary in the fall.

 
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"If This Goes Well, I'll Use It At Goldman Sachs Next Year" - Obama Mocks Everyone At His Final "Nerd Prom"





In his final address to the White House correspondents dinner also known as "nerd prom", Obama embraced his last chance at a snarky, hyperbolic, comic monologue and used the stage to unleash a series of one-liners at 2016 presidential candidates in both parties, the media and his own career as president.

 
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Trump Nomination Odds Hit Record High As Rubio Urges GOP Not To "Ignore The Will Of The People"





The probability of The Donald becoming the Republican Presidential nominee has surged up to a record high 85% this week (as the odds of a brokered convention collapse) as a more mild-mannered and "can't we all get along" Trump begins to creep out of the shadows. As the inevitable event looms - no matter what the establishment tries - increasing numbers of #NeverTrump-ers are slowly but surely moving over to what they pictured before as the dark side. The latest, as The Hill reports, is none other than Marco Rubio who said "[Trump's] performance has improved significantly," urging GOP "let’s not ignore the will of the people or they’re going to be angry." Additionally, Rep. Jimmy Duncan (R-Tenn.) on Saturday endorsed Donald Trump for president, giving the GOP front-runner his 12th lawmaker endorsement.

 
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