Authored by Carson Block via Bloomberg.com,
Euphoria has been pervasive in the stock market since the election. But investors seem to be overlooking the risk of a U.S. government default resulting from a failure by Congress to raise the debt ceiling. The possibility is greater than anyone seems to realize, even with a supposedly unified government.
Following last night's embarrassing and widely mocked 'leak' of Trump's 2005 tax return by "Fake News" MSNBC, which seemingly only served to prove that Trump made a lot of money and paid a lot of taxes, long-time Hillary ally David Brock has offered a $5 million reward for anyone who can deliver his "complete, legally obtained tax returns."
"More questions than answers tonight. I'm offering a $5m reward to anyone with Trump's complete, legally obtained tax returns."
Authored by Caleb McMillan via Mises.ca,
As if Canadians needed more proof that the country’s real estate is in a bubble, and that this misallocation has spread to other sectors of the economy, the Bank of International Settlements released its latest quarterly confirming what any critical observer can see: binging on debt is rarely a good idea.
Canada’s debt-to-GDP gap is widening and even the central bank of central banks is concerned.
Despite the surge in consumer confidence and exuberance at what lies ahead, real wages for America's average joes declined year-over-year in February (down 0.3%). This is the first consecutive monthly drop in real wages since 2011 (which forced Bernanke to to hint at and then unleash QE2 later that year).
So not only is The Fed hiking into the weakest GDP growth outlook since 1987, noiw they are hiking into declining real wage growth (something tht has previously driven The Fed to a massvely dovish stance).
Authored by John Whitehead via The Rutherford Institute,