Calling himself 'the king of debt' in his business dealings, Donald Trump warned correctly this morning that the national debt would be troublesome if the cost of borrowing increases, asking rhetorically, "we're paying a very low interest rate. What happens if that interest rate goes up 2, 3, 4 points? ...We don't have a country." The U.S.
Via Larry Lindsey of The Lindsey Group...
Negative Rates and the Austrians' End Game
Our training and bias have always been toward policy activism -- that tweaking this or changing the dial on that can always make things better. [But] critics of activism, often lumped into the 'Austrian School,' argue that this will inevitably end badly.
The chairman of British arms manufacturer, BAE systems, has defended his company’s extensive deals with Saudi Arabia, describing the Saudi monarchy as an appropriate customer for its weapons and services. “We are not here to judge the way that other governments work, we are here to do a job under the rules and regulations we are given,” Sir Roger Carr said Wednesday, after being confronted by shareholders affiliated with Campaign Against Arms Trade (CAAT) movement, during an annual general meeting.
...it's time for another bailout!!
Source: Townhall.com
Moments ago the Philadelphia Fed tweeted something that is actually spot on, namely that the American economy is only as resilient as the American consumer.
RT @PhilFedComDev: Have you read What It's Worth? Get a free copy & see what we're discussing: https://t.co/LJ96hkTOrm #WhatItsWorthPHL
— Philadelphia Fed (@philadelphiafed) May 5, 2016
Which if one looks at the state of retail companies reporting same-store sales results today, is a problem because they all missed.