Submitted by Lance Roberts of Real Investment Advice
Almost a full year after the election of Donald Trump to the White House, one of the key promises made to voters was the largest “tax cut” since Ronald Reagan was in office. As President Trump stated in Indiana yesterday:
The same firm that 'assured' us all back in 2006 that RMBS, CDOs, synthetic CDOs and CDO-squared structures were all very safe products and well deserving of their AAA ratings would now like for you to know that they've "stress tested" subprime auto ABS facilities and found that they're "very stable."
Authored by Stephen Roach via Project Syndicate,
A decade after the onset of the global financial crisis, it seems more than appropriate for central bankers to move the levers of policy off their emergency settings. A world in recovery – no matter how anemic it may be – does not require a crisis-like approach to monetary policy.
Travis Kalanick’s hopes to someday return as Uber’s CEO have just been dashed. Japanese conglomerate Softbank has struck an agreement with Uber’s shareholders to block Travis Kalanick from ever being reinstated as the leader of the perennially cash-burning ride-hailing company, according to Bloomberg.
Authored by Charles Hugh Smith via OfTwoMinds blog,
There is nothing inevitable about such vast, fast-rising income-wealth inequality; it is the only possible output of our financial and pay-to-play political system.