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.
It just keeps on getting whackier. We recently remarked about the Austrian 100-year bond going parabolic, but flat-out vertical might now be the better term.
After what was falsely portrayed as a “gangbusters” report for July retail sales this AM, the talking heads on CNBC were nearly hyperventilating.
We have called him the whirling dervish of policy incoherence, caprice, cocaphony—-and, when push comes-to-shove, cowardice. So yesterday’s Keystone Kops maneuvers on the China tariffs could not be more dispositive.
You can’t build the Empire and drain the Swamp at the same time. That’s because the Swamp is largely the fruit of Empire. And it’s also the reason that the Donald is being steadily undone.
The stridency and blatancy of the Donald’s attacks on the Fed are without precedent, but you haven’t seen nothing yet. When the third great bubble of this century cracks, and the Dow, GDP and jobs plunge southward, the Donald will wage war against the Fed with such ferocity as to make FDR’s infamous 1937 packing attack on the …
The chart-monkeys were buying the dips again today because that’s what they do. What they also do is resolutely ignore real world economic information that warns of recessionary troubles ahead, and there has been plenty of that in recent days.
Gary Kaltbaum hit the nail on the head this AM. We are now talking about incendiary greed. The blow off stage of a blind mania in the bond markets.
Call it the monetary theatre of the absurd. After all, here is what a determined currency manipulator did between September 2002 and July 2008.
Wall Street’s buy-the-dippers are soiling their diapers even as they are praying desperately for another round of dovish Fed braying.