Last week, Larry Summers took on the $100 bill.
Now, he’s taking aim at the man who, if it were up to him, would be on that banknote. In a new Op-Ed for The Washington Post, Summers calls Donald Trump “the greatest present threat to the prosperity and security of the United States.”
Whether or not Donald Trump ultimately succeeds in winning the White House, historians are likely to rank him as the most consequential presidential candidate of at least the past half-century. He has already transformed the tone and temper of American political life. If he becomes the Republican nominee, he will demolish its structural underpinnings as well. Should he prevail in November, his election will alter its very fabric in ways likely to prove irreversible.
Submitted by Charles Hugh-Smith via OfTwoMinds blog,
The possibility that Trump would step on favored political toes and act pragmatically to rein in Imperial over-reach terrifies the bloated Imperial city of Washington D.C.
Following the weakness in global PMIs, and yesterday's Chicago PMI collapse, US Markit Manufacturing PMI dropped to cycle lows at 51.3 from 52.5 (very slightly better than expectations of 51.2) with job growth at 5-month lows, production at slowest in 28 months, and work backlogs tumbling to the lowest since Sept 2009.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
Warren Buffett, in his latest annual letter to shareholders, took aim at the idea that 2% real economic growth wasn’t sufficient to create economic prosperity for future generations was wrong.
Via Myles Udland from Business Insider: