David Stockman Rants Against The Dangers & Digressions Of The Donald's Demagoguery

"Making America great" is about unleashing the nation’s capitalists again. It’s an expression that prosperity is not bestowed by the state but won by the kind of builders, investors, innovators and workers that The Donald fancies to be the essence of Trump Inc. To that extent, Donald Trump could be regarded as an incipient anti-statist. While this might seem like an overly generous characterization, it is a measure, alas, of the degree to which the bipartisan “policy” consensus against him has congealed around what is essentially a Keynesian axiom of endless macroeconomic intervention and “stimulus”.

Michael Hudson: Obama Said Hillary Will Continue His Legacy – And Indeed She Will!

Trump is right in saying that there has not really been a recovery for the Rust Belt or for the 99%. Hillary brazens it out by claiming Obama's neoliberal economics have helped wage-earners, despite the debt deflation blocking recovery. She promises to continue his policies (backed by his same campaign funders). That would seem to be a losing strategy for this year's election – unless the Democrats gain control of the electronic voting machines, especially in Ohio.

Koch Brothers Now Supporting "Often Confused" Hillary Clinton

On July 20th, a Republican U.S. Senator lost his main financial backers for having urged Republicans to vote for Donald Trump instead of for Hillary Clinton. The Koch brothers speak with their words, which can’t be trusted, but they also speak with their money, their investments, which are always honest expressions of their actual beliefs and desires. This time, the Kochs spoke with their money, just a day after that Senator spoke with his words.

What To Expect In Today's ECB Announcement: "Time To Send Another Dovish Signal"

Following the previously noted fireworks from Kuroda, who in a BBC interview said that there is "no possibility" of helicopter money (which however the WSJ quickly added was based on an interview conducted in mid-June which supposedly means there is possibility now) In under an hour the market will turn its attention to the ECB's latest statement, where as SocGen's Anatoli Annenkov writes, it is "time to send another dovish signal."

Yen Soars, Stocks Slide After Kuroda Says "No Need Or Possibility For Helicopter Money"

In a surprising rejection of Ben Bernanke, BOJ governor Haruhiko Kuroda said that there will be no helicopter money in Japan, amid increasing speculation over monetary and fiscal policy in the world’s third-largest economy. Given the current institutional setting, there is "no need and no possibility for helicopter money," Kuroda said in a BBC Radio 4 program that was broadcast Thursday. “At this moment, the Bank of Japan has three options with quantitative and qualitative easing with negative interest rates."

RNC Day 3: Make America First Again - Live Feed

Freshly-picked vice presidential nominee Mike Pence is the headliner of Wednesday’s third day of the Republican National Convention. As The Hill reports, with party business, Donald Trump’s official presidential nomination all settled, and any long-shot attempts to deny him the nomination in the rearview mirror, the third day should be a day of unity. With programming not starting until 7pmET, a number of Trump's former rivals and other notable conservatives will all focus on the day's theme: Make America First Again (which is ironically where Trump finds himself, leading Clinton by 1pt in the latest poll).

S&P Downgrades Turkey To BB, Outlook Negative; Lira Tumbles To New All Time Low

"Following the attempted coup on July 15, Turkey's political landscape has fragmented further. We believe this will undermine Turkey's investment environment, growth, and capital inflows into its externally leveraged economy. In the aftermath of the failed coup, we believe that the risks to Turkey's ability to roll over its external debt have increased."

S&P Cuts Deutsche Bank Outlook To Negative On "Challenging Operating Conditions"

It has been a while since investors focused their attention on the world's "most systematically risky" bank, Deutsche Bank. Moments ago, S&P made sure to remind us that nothing is fixed, when it released a report saying that "Operating Conditions May Challenge Strategy Execution" but keeping the bank at a BBB+ rating.