ConvergEx's Nicholas Colas asks "Can the US economy get back to the 3% GDP growth it enjoyed in the 1980s – mid 2000s?"
White House economic policy makers say “Yes”.
Most professional economists say “No”.
History says, “Worker productivity drives economic growth, not politicians or economists. Fix productivity and you can get to 3%.”
History may not be laconic, but it has a point.
JFK at 100
Paul Craig Roberts
This Memorial Day, Monday, May 29, 2017, is the 100th birthday of John Fitzgerald Kennedy, the 35th President of the United States.
JFK was assassinated on November 22, 1963, as he approached the end of his third year in office. Researchers who spent years studying the evidence have concluded that President Kennedy was assassinated by a conspiracy between the CIA, Joint Chiefs of Staff, and Secret Service.
By the SRSrocco Report,
Something changed in the silver market in May as U.S. Silver Eagle sales have surged compared to the previous month. This is quite interesting as precious metals sales and sentiment have declined in the West, especially in the United States, ever since Donald Trump was elected President.
Last week, when looking at the the distortion and absurdity unleashed by the ECB's asset purchase program upon European capital markets, we showed the unprecedented collapse in European junk bond yields as captured by the effective yield of the BofA/ML Euro High Yield Index, which is now trading just shy of all time lows, having dropped below 3% at the end of April, and printed at 2.79% on May 23, within bps of record lows...
Not even last night's Moody's credit downgrade of China - the first since 1989 - could dent the global stock rally which has pushed global stock prices to all time highs. After initially sliding, regional stocks and emerging Asian currencies pared early losses following the unexpected downgrade of China, taking their cue from the "sudden reversal" of the Shanghai Composite Index, which some speculated saw the latest intervention of the "national team."