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.
In an oddly ironic twist, today Donald Trump announced that he has picked as chairman of his newly launched fundraising operation none other than a former employee of the bank he has repeatedly criticized in the past, and which he used as a foil to criticize Ted Cruz: Goldman Sachs.