White House

Morgan Stanley: Here Comes "The Three-Headed Policy Monster"

"Congress will return Labor Day to face what my colleague Michael Zezas calls a “three-headed policy monster”: Raising the debt ceiling, passing a budget and embarking on tax reform. None are easy, but we see the debt ceiling as the most immediate test."

Mnuchin Rejects Call From Yale Classmates To Resign, Defends Trump

In a long statement issued by the Treasury Secretary, Steven Mnuchin rejected and pushed back against an urging from his former classmates at Yale University that he resign from Donald Trump’s cabinet, while defending the president’s response to last weekend’s deadly protests in Charlottesville.

Bannon: "The Trump Presidency That We Fought For Is Over"

"The Trump presidency that we fought for, and won, is over," Steve Bannon said on Friday. "We still have a huge movement, and we will make something of this Trump presidency. But that presidency is over. It’ll be something else. And there’ll be all kinds of fights, and there’ll be good days and bad days, but that presidency is over.”

Gavekal On The Coming Clash Of Empires: Russia's Role As A Global Game-Changer

Just when China is starting to offer an alternative—an alternative that the US should be trying to bury—the US is moving to “weaponize” the dollar and pound other nations—even those as geo-strategically vital as Russia—for simple domestic political reasons. It all seems so short-sighted.

David Stockman Warns "Don't Forget About The Red Swan"

"...during the last 19 months the Red Ponzi propagated a false upturn in the global economy that is already decisively reversing. This comes at the same time that central banks of the major developed world economies are finally bringing their printing presses to a halt... the morning-after toll will be especially severe and disruptive - this used to be called a 'depression'..."

Weekend Reading: Losing Faith?

"With President Trump embroiled in one entanglement after another and constrained by a deeply partisan legislature, the ability of the Administration to pass legislative agenda seems to be fading... along with investor 'faith' that they will."