Trump’s corporate tax cut is supply-side stimulus I could agree with if done right, even though it primarily helps the rich. Trump's cut of the top rate from 35% to 15% is the largest of its kind in the history the United States.
"It's absolutely insane that we have a president of the United States and a governor of Minnesota making the statements they made less than one day after the police-involved shootings," said an emotional Cleveland Detective Steve Loomis. "How the hell did we ever become the bad guys in this country? I cannot imagine how we got here. It's the irresponsible reporting of the media. And the irresponsible statements of people that are credible like the president of the United States."
Hillary took advantage of last week’s racial strife to deflect the blows she took from FBI Director James Comey in his public remarks about Hillary’s email problem. She went into full pander mode, blaming “white privilege” for the recent enormities involving guns and police. Of course, that will only fuel the “narrative” that whites are wholly responsible for black dysfunction, a false story that will lead to more conflict.
Once again America is outraged, this time not over one but two police shootings in as many days, the second of which was particularly chilling because as we reported earlier today, the victim's girlfriend posted live video on the internet as it was happening. The demonstrations over the deaths of Castile, Sterling and other black men killed by police are now planned for St. Paul, New York, Chicago and several smaller cities on Thursday evening, according to organizers posting on social media.
A man identified as Philando Castile, 32, was shot and killed during a traffic stop Wednesday evening in Falcon Heights, Minnesota that could spark yet another round of social unrest throughout the nation.
US "boots on the ground" on Iraq have just suffered their first casualty. Moments ago US Defense Secretary Ash Carter announced that the Islamic State killed the first U.S. serviceman in Iraq who was aiding Kurdish fighters near the northern Iraqi city of Mosul. A statement from the US-led forces in Iraq added the fatality was "a result of enemy fire." "It is a combat death, of course. And a very sad loss," Carter told reporters at a press conference in Germany.
After the G-20 ended in a wave of global disappointment, leading to the biggest Yuan devaluation in 8 weeks, and sending Chinese stocks into a tailspin on concerns the PBOC has forsaken its stock market as well as speculation the housing bubble is now sucking up excess liquidity which in turn pushed global market deep in the red to start the week, it was the PBOC's turn to scramble in a panicked reaction to sliding risk exactly one month after Japan unveiled its own desperation NIRP, and as reported before unexpectedly cut its Reserve Requirement Ratio by 0.5% to 17.0%, the first such cut in 2016 and the 5th since the start of 2015.
We are lost in raptures of techno-narcissism. We’re convinced that all the unanticipated consequences of our brief techno-industrial orgy can be solved by… more and better technology! Notice that this narrative is being served up to a society now held hostage to the images on little screens, by skilled people who, more and more, act as though these screens have become the new dwelling place of reality.