America

Submitted by David Stockman via Contra Corner blog,

As the returns came in from South Carolina Saturday night, showing Donald Trump winning a decisive victory, a note of nervous desperation crept into the commentary.

Political analysts pointed out repeatedly that if all of the votes for Marco Rubio, Ted Cruz, John Kasich, Jeb Bush and Ben Carson were added up, they far exceeded the Trump vote.

Why this sudden interest in arithmetic?

Back on January 14, we noted that JPMorgan did something they haven’t done in 22 quarters: the bank increased its loan loss provisions.

The "reserve build of ~$100mm [is] driven by $60mm in Oil & Gas and $26mm in Metals & Mining within the commercial banking group,” the bank said.

Authored by Rob May, originally posted at Medium.com,

Submitted by Richard Ebeling via EpicTimes.com,

Eighty years go, on February 4, 1936, one of the most influential books of the last one hundred years was published, British economist, John Maynard Keynes’s The General Theory of Employment, Interest and Money. With it was born what has become known as Keynesian Economics.