Check out the United States Libertarian Party’s website for its national convention later this month at which a major focus will be the choosing of the party’s presidential nominee. You see something very peculiar. Up top at the home page is a picture of a portion of presumptive Republican Party presidential nominee Donald Trump’s face. Underneath that is text reading “President Trump to Address Convention.”
Authored by MN Gordon via EconomicPrism.com,
Good cheer has arrived at precisely the perfect moment. You can really see it. Record stock prices, stout economic growth, and a GOP tax reform bill to boot. Has there ever been a more flawless week leading up to Christmas?
We can’t think of one off hand. And if we could, we wouldn’t let it detract from the present merriment. Like bellowing out the verses of Joy to the World at a Christmas Eve candlelight service, it sure feels magnificent – don’t it?
While the jury will be out for years whether the Trump tax cuts will boost the economy (they already had an outsized impact on markets, pushing the Dow by nearly 5,000 points higher since Trump's election), there are several key problems that remain outstanding. The first one, as the following JPMorgan chart shows, is that all prior Republican tax cuts in US history took place when debt/GDP ratios were less than 40%.
Authored by David Stockman via Contra Corner blog,
Since last November 8th the Russell 2000 has risen by 30% and the net Federal debt has expanded by an astounding $1.0 trillion dollars.
Authored by David Stockman via Contra Corner blog,
There was a sinister plot to meddle in the 2016 election, after all. But it was not orchestrated from the Kremlin; it was an entirely homegrown affair conducted from the inner sanctums---the White House, DOJ, the Hoover Building and Langley----of the Imperial City.
Likewise, the perpetrators didn't speak Russian or write in the Cyrillic script. In fact, they were lifetime beltway insiders occupying the highest positions of power in the US government.