America

After yesterday Goldman mocked Trump's budget (ironic as it was Trump's ex-Goldman Chief Economic Advisor who conceived it) and said it had zero chance of being implemented, today it was JPM's turn to share some purely philosophical thoughts on the shape of future US income and spending, which as we learned yesterday could balance only if the US grows for 10 years at a 3% growth rate, something it has never done, while slashing nearly $4 trillion in in spending, something else it has never done.

Welcome To Utopia University, "a wonderful place to learn everything your parents taught you was wrong."

"It's not based on reality, it's based on your reality"

 

"I will punch you if you're a fascist."

 

"our commitment to diversity means that nobody graduates until they think just the right way..."

Back in February, we wrote that over half a year after we first reported last August that foreign official institutions - central banks, sovereign wealth funds and reserve managers - are liquidating US Treasurys in record amounts, a process that only accelerated into year end when official entities sold a record $405 billion in US paper in the LTM period, Bloomberg decided to catch up to the topic with "America’s Biggest Creditors Dump Treasuries in Warning to Trump."

Authored by Michael Snyder via The Economic Collapse blog,

Social-media company Foursquare has crunched the data generated by its 50 million active monthly users and determined that America’s share of the international tourism market has fallen sharply since October.

According to data published on the company’s blog, visits by foreigners to the U.S.  started to decline in October, when they fell by 6% year-over-year. The decline has continued through March 2017, the latest month for which Foursquare has data, when visits declined by an astounding 16%.