• Tag Archives Washington
  • Are The ‘Toxic’ Democrats Destined To Become A Permanent Minority Party?

    It has become exceedingly clear that the Democratic Party is in deep trouble. Close to 55 million dollars was spent on the race in Georgia’s sixth congressional district, and that shattered all kinds of records. Democrat Jon Ossoff was able to raise and spend six times as much money as Karen Handel and yet he still lost. This was supposed to be the race that would show the American people that the Democrats could take back control of Congress in 2018, and so for the Democrats this was a bitter failure. The Democratic Congressional Campaign Committee actually injected almost 5 million dollars into the race themselves, and Planned Parenthood threw in another $700,000. But after all of the time, effort and energy that was expended, Handel still won fairly comfortably.
    The Democrats are trying to spin this result as some sort of ‘moral victory’, but as Dan Balz of the Washington Post has pointed out, there are ‘no moral victories in politics’…

    This post was published at The Economic Collapse Blog on June 21st, 2017.


  • Leading The Multipolar Revolution: How Russia And China Are Creating A New World Order

    The last thirty days have shown another kind of world that is engaging in cooperation, dialogue and diplomatic efforts to resolve important issues. The meeting of the members of the Belt and Road Initiative laid the foundations for a physical and electronic connectivity among Eurasian countries, making it the backbone of sustainable and renewable trade development based on mutual cooperation. A few weeks later, the Shanghai Cooperation Organization meeting in Astana outlined the necessary conditions for the success of the Chinese project, such as securing large areas of the Eurasian block and improving dialogue and trust among member states. The following AIIB (Asian Infrastructure Investment Bank) meeting in ROK will layout the economical necessities to finance and sustain the BRI projects.
    The Shanghai Cooperation Organization (SCO) and the Chinese Belt and Road Initiative (BRI) have many common features, and in many ways seem complementary. The SCO is an organization that focuses heavily on economic, political and security issues in the region, while the BRI is a collection of infrastructure projects that incorporates three-fifths of the globe and is driven by Beijing’s economic might. In this context, the Eurasian block continues to develop the following initiatives to support both the BRI and SCO mega-projects. The Collective Security Treaty Organization (CTSO) is a Moscow-based organization focusing mainly on the fight against terrorism, while the Asian Infrastructure Investment Bank (AIIB) is a Beijing-based investment bank that is responsible for generating important funding for Beijing’s long-term initiatives along its maritime routes (ports and canals) and overland routes (road, bridges, railways, pipelines, industries, airports). The synergies between these initiatives find yet another point of convergence in the Eurasian Economic Union (EEU). Together, the SCO, BRI, CTSO, AIIB, and EEU provide a compelling indication of the direction in which humanity is headed, which is to say towards integration, cooperation and peaceful development through diplomacy.
    On the other side we have the old world order made up of the IMF, the World Bank, the European Union, the UN, NATO, the WTO, with Washington being the ringmaster at the center of this vision of a world order. It is therefore not surprising that Washington should look askance at these Eurasian initiatives that threaten to deny its central and commanding role in the global order in favor of a greater say by Moscow, Beijing, New Delhi and even Tehran.

    This post was published at Zero Hedge on Jun 21, 2017.


  • Watch Live: Speaker Paul Ryan To Deliver “Major Speech” Calling For Permanent Tax Reform

    The @HouseGOP plan for tax reform will create more jobs & increase wages, putting American workers & families first. — Paul Ryan (@SpeakerRyan) June 20, 2017

    In what is being hailed as a “major speech,” which means just about nothing to ordinary Americans living outside the D. C. bubble, House Speaker Paul Ryan is expected to call for permanent tax reform in 2017 in remarks to be delivered to the National Association of Manufacturers. According to the Washington Examiner, Ryan will report that the GOP intends to introduce and pass a joint tax bill in the fall of this year.
    “We are going to get this done in 2017. We need to get this done in 2017. We cannot let this once-in-a-generation moment slip.”
    “Transformational tax reform can be done, and we are moving forward. Full speed ahead.”
    One component of Ryan’s tax plan, the so-called border adjustment provision, has become very controversial even among his Republican colleagues. It has elicited fierce opposition from retailers and other industries that fear it would result in higher taxes on imported products. In effect, the border adjustment would work by exempting export sales from companies’ taxable income, but disallowing the deduction of the cost of imported goods from taxable income.

    This post was published at Zero Hedge on Jun 20, 2017.


  • Dow Jones News Today: Stocks Flatten as Georgia Votes in Special Election

    The Dow Jones news today features stocks flattening ahead of a special election in Georgia that could signal a moment shift in Washington, just as the Trump tax agenda gets underway. Markets will continue to monitor the airline industry as manufacturers continue to unveil new products and strike deals at the Paris Air Show.
    Here are the numbers from Monday for the Dow, S&P 500, and Nasdaq:

    This post was published at Wall Street Examiner on June 20, 2017.


  • “Someone’s Going To Jail” Gingrich Warns Mueller’s Russia ‘Witch Hunt’ Too Big To Fail Now

    After the Washington Post-New York Times-CNN axis got the public worked into a lather by effectively trying President Donald Trump and his administration in the court of public opinion, Americans are desperate to see somebody held accountable for…wait…what is it again? Collusion? Obstruction? The narrative changes so quickly, it’s difficult keeping track.
    Enter Former Speaker Newt Gingrich, who told Fox’s Sean Hannity on Friday that the investigators who’ve been hired by Special Counsel Robert Mueller won’t quit until they’ve found their own Scooter Libby-type figure to play the role of political pariah.

    This post was published at Zero Hedge on Jun 17, 2017.


  • The Eternal Plea for Inflation

    This is a syndicated repost courtesy of The Daily Reckoning. To view original, click here. Reposted with permission.
    We learned in yesterday’s Washington Post that the Federal Reserve ‘needs to learn to love inflation.’
    Economics writer Matt O’Brien argues the Fed’s 2% inflation target is far too modest… that Janet Yellen lacks something in the way of vocational ambition.
    This fellow believes Ms. Yellen should set her cap much higher – 4% inflation:
    The higher inflation is, the higher interest rates have to be to control it – and the more room there is to cut them when the economy gets into trouble. So if a 2% target doesn’t get rates high enough to keep them away from zero, then maybe a 4% one will…

    This post was published at Wall Street Examiner by Brian Maher ‘ June 17, 2017.


  • The Treasonous Secession Of Climate Confederacy States

    After President Trump rejected the Paris Climate treaty, which had never been ratified by the Senate, the European Union announced that it would work with a climate confederacy of secessionist US states.
    Scotland and Norway’s environmental ministers have mentioned a focus on individual American states. And the secessionist governments of California, New York and Washington have announced that they will unilaterally and illegally enter into a foreign treaty rejected by the President of the United States.
    The Constitution is very clear about this. ‘No state shall enter into any treaty.’ Governor Cuomo of New York has been equally clear. ‘New York State is committed to meeting the standards set forth in the Paris Accord regardless of Washington’s irresponsible actions.’
    Cuomo’s statement conveniently comes in French, Chinese and Russian translations.

    This post was published at Zero Hedge on Jun 16, 2017.


  • The Valium Era

    Don’t Be Fooled by These Calm Markets
    What is happening in the world of money? Well – the most striking thing is: nothing.
    It doesn’t seem to matter what happens. Dysfunction in Washington. Meltdown of the techs. No matter how rough the seas get, the markets glide along… scarcely noticing the storm-tossed waves.
    Thankfully the world’s central planners are so well-versed in egging on the creation of an ever greater mountain of debt and seemingly limitless asset price inflation with their ‘scientific’ monetary policy that a complete blow-up of the the financial system only threatens now and then… most of the time we are in ‘moderation’ mode. Nowadays we are in something that feels like a Valium-induced waking dream. It couldn’t be better… volatility has just served up its greatest disappearance act since the end of the last ‘moderation’. What could possibly go wrong?

    This post was published at Acting-Man on June 16, 2017.


  • What If Taxpayers Could Choose if Taxes Went to the State Level or Federal Level?

    In recent years, we’ve examined any number of ways of decentralizing the American political system. These step-by-step moves can include decentralizing the monetary system, decentralizing the military, decentralizing immigration policy, and decentralizing elections.
    Most recently, we looked at decentralizing the welfare state, and found that each US state is more than wealthy enough and big enough to run its own welfare state at the state level without any need of planning or centralization through Washington, DC. Whether or not one thinks a welfare state is a good or necessary thing, the fact remains the US government is not an essential part of the equation.
    One piece of information that stood out the state-level analysis of tax revenue: the amount of taxes collected by the federal government far outpaces that collected at the state level. Nationwide, state-level tax bills are 28 percent the size of the federal tax bill. In a midsize state like Georgia, for example, residents pay 21 billion in taxes to the state government. However, those same residents pay a total of 86 billion to the federal government. The federal tax bill for Georgians is more than four times the size of the state tax bill.1

    This post was published at Ludwig von Mises Institute on June 16, 2017.


  • U.S. Economy at Risk from Trump’s Poll Numbers

    A new poll is out from the Associated Press/NORC Center for Public Affairs Research at the University of Chicago. It doesn’t bode well for Donald Trump’s presidency nor for the U. S. economy. Despite Wall Street’s century-old propaganda campaign to convince Washington that it controls the levers to economic growth in the U. S., and thus must be placated on its every desire, informed citizens understand that economic power rests in the hands of the consumer in a nation where two-thirds of GDP is consumer spending.
    Likewise, consumer confidence in the President of the United States impacts one’s willingness to open the purse strings and buy. The thinking is: if the country is headed in the wrong direction, how safe is my job? Perhaps I should stop spending and put money away for a rainy day.
    The new poll shows that 64 percent of Americans disapprove of the job Trump is doing. Particularly troubling for a democracy, 65 percent say he doesn’t respect the country’s institutions and traditions. On specific issues, 66 percent disapprove of his handling of health care; 64 percent disapprove of his handling of climate change; 63 percent disapprove of his handling of foreign policy; 60 percent disapprove of his handling of immigration and 55 percent disapprove of how he’s handling the economy.

    This post was published at Wall Street On Parade on June 15, 2017.


  • Governor Jerry Brown of California Advocates the Overthrow of USA

    Governor Jerry Brown of California is committing Treason Against the United States. He is leading a confederacy against the Federal Government and should stand trial, but of course that would be controversial. After Trump rejected the Paris Climate treaty, which had never been ratified by the Senate, the European Union announced that it would work with a climate confederacy of secessionist states in the USA. This is clearly Treason and all Federal funds should be cut off from the secessionist governments of California, New York and Washington, who have unilaterally and completely illegally entered into a foreign treaty rejecting the President of the United States on the Paris Accord.
    U. S. Constitution – Article 1 Section 10 Article 1 – The Legislative Branch
    Section 10 – Powers Prohibited of States No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

    This post was published at Armstrong Economics on Jun 14, 2017.


  • Joseph and the US Stock Market

    Joseph (as in Abraham, Isaac, and Jacob) was the first (maybe) successful economist mentioned in the Bible. Why do we say that? Answer: he was data driven.
    Think of it this way. He interpreted Pharaoh’s dreams. He developed a model (forecast). He presented it to the decision maker and persuaded him to agree. He raised the capital (easy to do in those days if one worked for the deified ruler). He developed and implemented an infrastructure capital expenditure program (warehouses and food storage). He planned ahead and had a rainy day fund. He balanced a 14-year budget that featured seven rich and seven lean years. He avoided deficit spending.
    He was promoted for his efforts and given prestigious governmental power. He used it to rescue his family and friends.
    Joseph didn’t have to deal with tweets. Let’s fast-forward a few thousand years.
    Washington chaos is now reducing the odds of the Trump tax/economic agenda ever coming to fruition. We do not know what is going to happen with tax reform or tax cuts, with repatriation, with deficit spending, with the debt limit, with the budget, with infrastructure, with healthcare, with the climate-change agenda (if any), with foreign policy, with the Voice of America (Bannon is going to run it), or with Cuba.

    This post was published at FinancialSense on 06/13/2017.


  • Stockman Fears Fiscal Bloodbath As “Mother Of All Debt Ceiling Crises” Looms

    While the Imperial City is frozen in the Second Coming of Comey, it doesn’t mean that the Washington spending machine is on pause. In fact, the Treasury’s cash balance yesterday stood at only $153 billion – down by $130 billion just since the tax season peak was reached on April 25th.
    ***
    Uncle Sam has been burning cash at a rate of $3.2 billion per calendar day since then and has no more room to borrow. That’s because the public debt ceiling is frozen at its March 15th level ($19.808 trillion) and the mavens at the Treasury Building have run out of borrowing gimmicks.

    This post was published at Zero Hedge on Jun 13, 2017.


  • Gingrich Questions Special Counsel’s Impartiality – “Republicans Are Delusional…Look Who He Is Hiring”

    Since his appointment by Deputy Attorney General Rod Rosenstein, Special Counsel Robert Mueller has enjoyed fairly bipartisan praise in Washington D. C. for his apparent impartiality.
    That said, Newt Gingrich, a former ‘informal advisor’ to President Trump, thinks that Comey cast a dark shadow over Mueller’s independence last week when he admitted under oath, before the Senate Intelligence Committee, that he leaked FBI documents to the New York Times with the express intent of getting a Special Counsel appointed to investigate Trump and various members of his campaign team. All of which prompted the following tweet from Gingrich early this morning:
    “Republicans are delusional if they think the special counsel is going to be fair. Look who he is hiring.check fec reports. Time to rethink.”
    Republicans are delusional if they think the special counsel is going to be fair. Look who he is hiring.check fec reports. Time to rethink.
    — Newt Gingrich (@newtgingrich) June 12, 2017

    This post was published at Zero Hedge on Jun 12, 2017.


  • “Nobody In Power Is Paying Attention To How Close We Are To The Edge”

    As our politicos creep deeper into a legalistic wilderness hunting for phantoms of Russian collusion, nobody pays attention to the most dangerous force in American life: the unraveling financialization of the economy.
    ***
    Financialization is what happens when the people-in-charge ‘create’ colossal sums of ‘money’ out of nothing – by issuing loans, a.k.a. debt – and then cream off stupendous profits from the asset bubbles, interest rate arbitrages, and other opportunities for swindling that the artificial wealth presents. It was a kind of magic trick that produced monuments of concentrated personal wealth for a few and left the rest of the population drowning in obligations from a stolen future. The future is now upon us.
    Financialization expressed itself in other interesting ways, for instance the amazing renovation of New York City (Brooklyn especially). It didn’t happen just because Generation X was repulsed by the boring suburbs it grew up in and longed for a life of artisanal cocktails. It happened because financialization concentrated immense wealth geographically in the very few places where its activities took place – not just New York but San Francisco, Washington, and Boston – and could support luxuries like craft food and brews.

    This post was published at Zero Hedge on Jun 12, 2017.


  • SWOT Analysis: Gold’s Strength Is Justified Says UBS

    Strengths
    The best performing precious metal for the week was palladium, up 5.10 percent. Grant Sporre, an analyst at Deutsche Bank, noted there is a genuine physical tightness in the market, but the spike had all the hallmarks of someone being caught short and being squeezed. Bullionvault’s Gold Investor Index, which measures the balance of client buyers against sellers, rose the most in two years reaching a high of 55.3 in May versus 52.1 in April, reports Bloomberg. In India, gold imports jumped fourfold in May to 126 metric tons from 31.5 metric tons in the same month last year. In a report by the World Gold Council, consumption in India could climb dramatically this year as a ‘simple’ nationwide Goods Services Tax will boost the economy, making the gold industry more transparent to benefit buyers, reports Bloomberg. Amid unease over a congressional hearing on possible links between Russia and the Trump campaign, holdings in SPDR Gold Shares (the world’s largest gold-backed ETF) climbed to the highest this year on the back of safe-haven demand, reports Bloomberg. In the two weeks through the end of May, hedge funds and other large speculators boosted their bullish bets on the precious metal by 37 percent, notes another Bloomberg article, the most since 2007 according to government data. Japanese investors sold a record amount of U. S. debt in April, reports Bloomberg. ‘Political turmoil in Washington and uncertainty about French elections pushed down Treasury yields, diminishing their attractiveness,’ the article continues. Japanese investors cut holdings of U. S. debt by $33.2 billion in April, the most in data going back to 2005, according to a Ministry of Finance balance-of-payments report.

    This post was published at GoldSeek on 12 June 2017.


  • Things To Come

    As our politicos creep deeper into a legalistic wilderness hunting for phantoms of Russian collusion, nobody pays attention to the most dangerous force in American life: the unraveling financialization of the economy.
    Financialization is what happens when the people-in-charge ‘create’ colossal sums of ‘money’ out of nothing – by issuing loans, a.k.a. debt – and then cream off stupendous profits from the asset bubbles, interest rate arbitrages, and other opportunities for swindling that the artificial wealth presents. It was a kind of magic trick that produced monuments of concentrated personal wealth for a few and left the rest of the population drowning in obligations from a stolen future. The future is now upon us.
    Financialization expressed itself in other interesting ways, for instance the amazing renovation of New York City (Brooklyn especially). It didn’t happen just because Generation X was repulsed by the boring suburbs it grew up in and longed for a life of artisanal cocktails. It happened because financialization concentrated immense wealth geographically in the very few places where its activities took place – not just New York but San Francisco, Washington, and Boston – and could support luxuries like craft food and brews.

    This post was published at Wall Street Examiner on June 12, 2017.


  • One & Done: Fed Rate Hikes End in June

    This is a syndicated repost courtesy of theinstitutionalriskanalyst. To view original, click here. Reposted with permission.
    ‘Stock prices have reached what looks like a permanently high plateau.’
    Irving Fisher
    October 1929
    This Thursday The IRA’s Christopher Whalen will be in Washington to participate in an event at Cato Institute, ‘Financial Crisis and Reform,’ We’ll talk with Cato’s Ike Brannon about whether enough has been done to ‘fix’ the problem, real or imagined, with Fannie Mae and Freddie Mac. The question posed by the title of the Cato Institute panel suggests that Washington has the slightest idea about the ‘problem’ in the mortgage business much less a solution.

    This post was published at Wall Street Examiner by.


  • How Would Markets React If Trump Is Actually Forced Out of Office?

    Donald Trump’s policy agenda – and his very presidency – are in jeopardy…
    Learn How to Exploit the Gold Frenzy! …at least if you believe the chatter on cable television.
    Yes, for weeks now, the big media outlets have been stirring up talk of impeachment. One narrative after another – Russia, Comey, Kushner, etc. – yet no conclusive evidence of any ‘high crimes and misdemeanors.’
    Still, Democrats in Congress smell blood in the water… and they have readied articles of impeachment for introduction as soon as an opportunity presents.
    Buy Silver Quarters – In Stock, Ships Fast! But investors don’t seem particularly concerned about the implications of political turmoil intensifying in Washington.
    The stock market keeps edging higher with minimal volatility.
    The only hint of politically driven jitters all year came on May 17th. The Dow Jones Industrials slid by nearly 400 points as reports surfaced that former FBI Director James Comey was asked by President Trump to stop his investigation of former national security adviser Michael Flynn.

    This post was published at GoldSilverWorlds on June 11, 2017.


  • It’s Official, Obamacare Collapse Is Trump’s Fault – Just Ask The WA Insurance Commissioner

    Last night, Washington’s Insurance Commissioner Mike Kreidler sent out a press release noting that two counties in his state, Klickitat and Grays Harbor, would be left with no health insurance options in 2018. Per the press release, the ~3,330 people in those counties currently signed up on the exchange would be able to buy insurance through the state’s high-risk pool but they would lose access to taxpayer-funded subsidies.

    This post was published at Zero Hedge on Jun 9, 2017.