The difference between Trump and his critics is that he must believe there is a cost in printing too much money. Modern economists do not appear to grasp this basic concept.
If the nationalists get their way, this November might be the last time Texans vote for a US president. On Wednesday, the Platform Committee of the Texas Republican Party voted to put a Texas independence resolution up for a vote at this week's GOP convention, according to a press release from the pro-secession Texas Nationalist Movement. The resolution calls for allowing voters to decide whether the Lone Star State should become an independent nation.
In a recent New York Times column, economist Paul Krugman tried to justify central bank interventionist monetary policy by comparing it to giving insulin to a diabetic. However, as Peter Schiff explains, it isn’t insulin central bankers are injecting into the economy. It’s heroin.
Perhaps the one last chance at saving the United States is embracing the truth – the truth as it is, and not the “truth” the U.S. Government would have you believe.
Calling himself 'the king of debt' in his business dealings, Donald Trump warned correctly this morning that the national debt would be troublesome if the cost of borrowing increases, asking rhetorically, "we're paying a very low interest rate. What happens if that interest rate goes up 2, 3, 4 points? ...We don't have a country." The U.S. should "renegotiate longer-term debt," he added rather shockingly to the CNBC anchors, and with the recent surge in US Treasury default risk (now at 3-month highs), it appears the market is growing more nervous also.
Instead of criticizing Trump for his misguided advocacy of tariffs as a panacea, we should at least give him credit for recognizing a serious problem that so many others ignore. The real criticism should be directed at those who would allow America to continue down this self-destructive path.
While he has learned their movements, and put this information to work for himself, and the Turdites, to turn a handsome profit, it does not take away from the criminality.
"The trigger that's going to really send us into a higher gear is going to be the admission by the Fed that the economy is weak or the markets figure it out on their own. There's not a lot of stimulus left, all they've got is potentially negative rates and a huge round of quantitative easing, and this thing is going to blow up in the Fed's face."
Each additional “bite” from the pie pushes the market closer to the edge. How many bites are left in the pie?
The Winter of 2015-2016, which came to an end a few weeks ago, has been officially designated as the mildest in the U.S. in 121 years according to NOAA. While this fact will certainly add a major talking point in the global warming debate, it should also be front and center in the current economic discussion. The fact that it isn’t is testament to the blatantly self-serving manner in which economic cheerleaders blame the weather when it’s convenient, but ignore it when it’s not.
Tomorrow is already here, we just haven’t awakened to hear the news.
It may be almost impossible to underestimate the gullibility of professional Fed watchers. At least Lucy van Pelt needed to place an actual football on the ground to fool poor Charlie Brown. But in today’s high stakes game of Federal Reserve mind reading, the Fed doesn’t even have to make a halfway convincing bluff to make the markets look foolish.
The strange, ominous concept of "outsourced monetary policy" has returned — but this time we’ve put our monetary fate in even less-stable hands. Wjat Janet doesn't seem to comprehend is that putting oneself at the mercy of financial market sentiment seems a bit risky, given that Mr. Market is a well-known manic depressive.
We have the power and the weaponry to change every community, every state and the entire nation without ever firing a single bullet. How is this possible?
The last thing the Fed can bear is for a recession that may be bubbling just under the surface to boil over into full view in the months heading into the election. If that occurs, we all may be seeing a great many press conferences from Mar-a-Lago. That is a development that I’m sure Janet Yellen wants to avoid at all costs.