If you wonder why things are going to get a lot worse before they get better—just consider the following tidbit from today’s political gleanings. It essentially cements the case that Washington is heading straight into a bond market conflagration that will wreak havoc on the Wall Street end of the Acela Corridor. It seems that […]
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Republican Senator Ron Johnson Tells President Trump “it makes no sense to try and bring back high labor manufacturing jobs”…
Yesterday President Trump invited the media to keep their cameras on during a round-table discussion on trade. He did this for a reason. President Trump wanted the American voters to watch Republican politicians demand that he stop trying to bring manufacturing jobs to the United States. In essence, Trump doing what Trump does best, played […]
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Trump Administration Proposes ‘Blue Apron-Style’ Program to Deliver Food to SNAP Recipients…
The U.S. Department of Agriculture (USDA) noted that under the plan, which is included in the 2019 budget, those receiving more than $90 a month in benefits would receive “nutritious, U.S.-grown and produced food” in a “Harvest Box” that would make up half of a recipient’s allotted benefits for the month. The rest of the […]
OMB Director Mick Mulvaney Interview on Spending Bill and 2019 Proposed Budget…
Office of Management and Budget (OMB) Director Mick Mulvaney explains how the Spending Bill compromise hammered out last week during the brief overnight shutdown, and its rippling effects on the 2018 Operating Budget and the 2019 Proposed Budget. A lot of information packed into this 14 minute interview…
Cryptocurrency Regulation Is ‘Inevitable,’ Says IMF Boss Lagarde…
It’s only a matter of time before cryptocurrencies come under government regulation, according to the head of the International Monetary Fund (IMF) Christine Lagarde. “It’s inevitable,” she told CNNMoney, adding “It’s clearly a domain where we need international regulation and proper supervision.” She also noted that “there is probably quite a bit of dark activity […]
Trump Touts Infrastructure Plan as Alternative to ‘Stupidly’ Blowing Money in the Middle East…
President Trump on Monday touted his plans for infrastructure spending as a way to spend taxpayer dollars on Americans, instead of wasting it on the Middle East. “This will be a big week for Infrastructure. After so stupidly spending $7 trillion in the Middle East, it is now time to start investing in OUR Country,” […]
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Trump’s $4 Trillion Budget Proposal Unveiled: Here Are the Main Highlights…
As previewed last night, President Donald Trump has proposed to Congress a $4 trillion-plus budget for next year that projects a $1 trillion or so federal deficit and in the biggest surprise leaked last night, and unlike the plan he released last year, never comes close to promising a balanced federal ledger even after 10 […]
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U.S. Debt to Hit $30 Trillion in 2028 Under Trump Budget…
On Friday, with the US on the verge of another government shutdown and debt ceiling breach (with the agreement reached only after the midnight hour, literally) Moody’s warned Trump that he should prepare for a downgrade from the rating agency that refused to join S&P in downgrading the US back in August 2011. The reason: […]
Food Stamp Enrollment Drops by Four Million in One Month…
Four million people dropped off the food stamp rolls in one month, according to the latest numbers on food stamp enrollment from the U.S. Department of Agriculture (USDA). The latest USDA data show that the number of participants in the Supplemental Nutrition Assistance Program (SNAP), the government program that administers food stamps, dropped from 45,666,795 […]
IRS Overpaid Nearly $3.5B in Obamacare Tax Credits in 2017, Can’t Recoup Money…
The IRS overpaid nearly $3.5 billion in Obamacare tax credits last year that it cannot recoup because of constraints built into the program, frustrating Republicans who have failed to repeal the health care law but say that money could have been spent on programs for veterans or infrastructure. A Treasury watchdog said the government paid […]
Infrastructure Emergency: 50,000 American Bridges Are “Structurally Deficient”…
Last week, President Trump announced his proposal for a $1.5 trillion infrastructure program in his State of The Union address to the American people. He failed to mention that over the next decade, the federal government would provide very little money whatsoever for America’s crumbling bridges, rails, roads, and waterways. In overhauling the nation’s crumbling […]
The Funding Deal Trump Reached with the Democrats Is a Good Deal…
As many of you probably know by now, Trump inked a deal with the Democrats yesterday to fund the government. What’s in the deal? Schumer got rolled… AGAIN. Let’s be clear, the Democrat strategy was and always has been to tie amnesty to continue funding the government. The Democrats believed that Republicans would quickly cave […]
We Have a Budget…
President Trump on Friday morning signed the congressional deal to end the brief government shutdown just hours after the lapse in government funding that began at midnight. Trump announced the signing on Twitter shortly after the House delivered him the signed bill from Congress. “Just signed Bill. Our Military will now be stronger than ever […]
GOP Fiscal Hawks Revolt Against Senate Budget Deal…
House conservatives on Wednesday revolted against a massive bipartisan deal to raise the debt ceiling and bust spending caps, complaining that the GOP could no longer lay claim to being the party of fiscal responsibility. “I’m not only a ‘no.’ I’m a ‘hell no,’” quipped Rep. Mo Brooks (R-Ala.), one of many members of the […]
Oil World Turns Upside Down as U.S. Sells Oil in Middle East…
The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan oil. Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly […]
California Officials Will Block Trump’s Plan to Expand Oil Drilling Off Coast…
California officials said they will block the federal government from transporting oil using existing or new pipelines, adding a new obstacle in President Trump’s plan to expand drilling off the state’s coast. The California State Lands Commission sent a letter Wednesday to the federal Bureau of Ocean Management urging the agency to withdraw plans to […]
Fannie Mae (FNMA) & Freddie Mac (FMCC) – Where Did The Money Go?…
After reading the news stories about Obama’s FISA memo, and intrusion into the American way of life, you would think things couldn’t get any worse. Now, information is coming out that President Barack Obama stole the entire profits of two privately owned, and publicly traded companies. The theft left the shareholders of Fannie Mae (FNMA) […]
U.S. Stocks Snap Selling Spree to Close Higher in Volatile Trading…
The U.S. stock market halted its death spiral to close higher Tuesday after a wild day of trading that saw the Dow ricocheting more than 1,000 points, underscoring a new regime of volatility on Wall Street. The turnaround, which follows on the heels of the blue-chip index’s worst one-day point decline on Monday, helped to […]
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Trump, Davos and Free Trade…
After Trump announced the steep 30% U.S. tariffs on imports of solar panels and washing machines. the Chinese Commerce Ministry expressed “strong dissatisfaction” and said it “aggravates the global trade environment.” Trump is not done with tariffs. In the days and weeks ahead, we can expect further announcements with regard to steel and aluminum imports […]
Here Is What Was Behind the “Largest VIX Buy Order in History”…
Less than a month ago, Goldman Sachs presciently published a note research report “VIX ETPs are now net short vega – should we worry”…which as the title suggested showed that the net position of VIX ETPs has become short over the past few weeks, for only the second time in their eight year history…
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