Source: US Drone Downed By Surface-To-Air Missile Over Yemen
Archive for the ‘Uncategorized’ Category
Not MAGA: The Donald’s Visible Economy Scam– David Stockman
You would never know that the GOP won the last presidential election based on what emanates from the vocal chords of the Trumpian inner circle and the keyboard of its top banana. This stuff is just plain politicized economics, statist pretense and Keynesian hogwash. The Donald’s keyboard is bad enough. Still, after a lifetime as a leveraged real estate speculator who apparently skipped Econ 101, why would he know any better? But chief trade advisor, Peter Navarro, who supposedly has credentials, showed this weekend exactly what flavor of statist economics now reigns in the White House: “I can tell you … Continue reading →
Source: Not MAGA: The Donald’s Visible Economy Scam – LewRockwell
My letter in The Record today…easy money and the coming recession
YOUR VIEWS
‘Easy money’ and a looming recession
Regarding “74% of economists see recession near” (Page 8A, Aug. 20): The piece is generally right on the money.
However, President Donald Trump’s counterproductive trade policies and unconscionable budget deficits during a boom — so much for Republican presidents being fiscal conservatives — would not be the reasons behind an economic downturn.
Recessions occur after the Federal Reserve creates an unsustainable boom with its easy-money policies.
The Fed engaged in the most massive creation of “new money” in American history to counter the Great Recession of 2007-09.
The inevitable consequences of easy money are bubbles everywhere: the stock market, the bond market and real estate.
In addition, individuals pour into sectors of the economy where the bubbles are creating the greatest demand for workers.
So when the inevitable recession hits, unemployment rises in those sectors.
The recession will commence when the Fed “tightens” the supply of money in reaction to accelerating price inflation.
This would be evidentwhen short-term interest rates rise, specifically the Fed Funds rate, which the Fed targets to “manage” the economy to damper price increases.
The recent inversion of the yield curve, when short-term rates are higher than long-term rates, has been an excellent predictor of past recessions.
However, as financial analyst Robert Wenzel pointed out, the current inversion is an anomaly, because long-term rates have declined faster than short-term rates have increased.
In short, a recession is coming, and Trump is correct to blame the Fed.
But his call for more easy money will only delay the day of reckoning.
Murray Sabrin, Ph.D.
Fort Lee The writer is a professor of finance and founder of the Sabrin Center for Free Enterprise at Ramapo College of New Jersey.
Old Right, New Right
The decline of the Old Right opposition to the welfare/warfare state created by Roosevelt and Truman began in the 1950s with the infiltration of its ranks by two ideological elements created and fostered by the intelligence community: the synthetic “Conservative Movement” and the Neoconservatives. Human Events was a premier publication of the anti-interventionist Old Right opposition to FDR’s New Deal and Harry Truman’s Fair Deal, and their collectivist programs both domestically and abroad. It was founded in 1944 by Old Right stalwarts Felix Morley, who was from 1933 to 1940 the editor of The Washington Post; Frank Hanighen, who was … Continue reading →
Source: Old Right, New Right – LRC Blog
U.S. Government Sets New Records for Spending and Revenues | Craig Eyermann
The government’s budget deficit through the first 10 months of its 2019 fiscal year now exceeds the full year deficit of $777 billion recorded in 2018.
Source: U.S. Government Sets New Records for Spending and Revenues | Craig Eyermann
The fiscal irresponsibility continues no matter which party is in power.
US Axis of Aggression in Gulf
When Washington announced a few weeks ago the formation of a maritime “international coalition” to “protect shipping” in the Persian Gulf, many observers were skeptical.…
Source: US Axis of Aggression in Gulf
Ray Dalio says he wouldn’t rule out China weaponizing its massive US Treasury holdings
Other observers have dismissed the suggestion that China would sell U.S. Treasurys to gain an upper hand in the trade war.
Source: Ray Dalio says he wouldn’t rule out China weaponizing its massive US Treasury holdings
“Zero Has No Meaning” Says Greenspan: I Disagree, So Does Gold – Mish Talk
Negative yields? Who cares says Greenspan. It’s meaningless.
Source: “Zero Has No Meaning” Says Greenspan: I Disagree, So Does Gold – Mish Talk
Morgan Stanley: The Bear Market Started In January 2018 And Is About To Get Worse
“the rolling bear is still alive and kicking, leaving the average index and stock still well below its highs from last year.
Source: Morgan Stanley: The Bear Market Started In January 2018 And Is About To Get Worse
Tulsi Gabbard’s Road to Damascus
There’s a good reason the presidential hopeful met with Assad, but the media doesn’t want to talk about it.
Source: Tulsi Gabbard’s Road to Damascus
Why Mises Opposed a Global Government for Managing Trade
A recent episode of the Human Action Podcast dealt with Mises’ Omnipotent Government, written between 1939 and 1943 and first published in 1944.
Source: Why Mises Opposed a Global Government for Managing Trade