Friday, September 22, 2017

TWITTER BATTLE: Donald Trump v. Rand Paul



It started, naturally, with President Trump:
But Senator Paul just did sit there and take the nonsense. He spoke truth to President:

The Global Arms Trade is Booming

It turns out that US created global chaos is good for the global miltary-industrial complex.



-RW

Federal Reserve Global Plotting in Switzerland

John Williams
A little birdie tells me that Federal Reserve Bank of San Francisco President John Williams, who use to work directly under Fed chair Janet Yellen when she was president of the SF Fed, is in Zurich at a closed to press Swiss National Bank Research Conference.

He will speak on “What to Expect from the Lower Bound on Interest Rates: Evidence from Derivatives Prices.”

Glenn Rudebusch, Executive Vice President and Senior Policy Advisor at the SF Fed, is also attending and will be speaking on “A New Normal for Interest Rates? Evidence from Inflation-Indexed Debt” (LOL, they think low price inflation is the new normal)

-RW

Thursday, September 21, 2017

Steve Bannon Held Secret Meeting Last Week in Beijing



Steve Bannon flew to Beijing last week for a secret meeting with the second most powerful Chinese Communist party official, less than a month after the former chief White House strategist declared that America was at “economic war with China,” reports The Financial Times.

According to one person in China familiar with the situation, Bannon travelled to Beijing to meet Wang Qishan, the head of the Chinese Communist party’s anti-corruption campaign. The meeting occurred at Zhongnanhai, the Chinese leadership compound, after Mr Bannon had visited Hong Kong to give a closed-door speech at a big investor conference hosted by CLSA, a Chinese state-owned brokerage and investment group.

“The Chinese reached out to Bannon before his Hong Kong speech because they wanted to ask him about economic nationalism and populist movements which was the subject of his speech,” said a second person familiar with the situation, according to FT.

Wang, who is seen as the second most powerful person in China after President Xi Jinping, arranged through an intermediary for a 90-minute meeting after learning that Bannon was speaking on the topic, according to the second person, who stressed there was no connection to President Donald Trump’s upcoming visit to China.

-RW

STOCKMAN: "A Frightful Fiscal Demographic Time Bomb"

I am not against cutting income taxes but David Stockman, the former OMB director under Ronald Reagan, has a great idea in calling for a cut in payroll taxes.

And Stockman's take on Trump's tax "reform" and the current state of government finances are spot on.

Also a very interesting comment about Alan Greenspan and how he started it all.

And also this from Stockman: "Rand Paul the only guy speaking truth to power."





-RW

Jim Rogers says ETF Holders Will Get Mauled by ‘The Worst’ Bear Market Ever



“When we have the bear market, a lot of people are going to find that, ‘Oh my God, I own an ETF, and they collapsed. It went down more than anything else.’ And the reason it will go down more than anything else is because that’s what everybody owns,” Jim Rogers said in an interview with RealVision TV.

-RW

Steve Bannon is Wrong: Tariffs Did NOT Fuel American Economic Growth

Bannon, wrong on tariffs.
By Don Boudreaux
Among the most destructive of the many zombie-like myths that continue to haunt the ideological and political landscape is the one that insists that because

Securities and Exchange Commission Was Hacked



The Securities & Exchange Commission has disclosed that hackers penetrated its electronic system for storing public-company filings last year and may have traded on the information.

The SEC said it was investigating the source of the hack, which exploited a software vulnerability in a part of the agency’s Edgar system, a comprehensive database of filings made by thousands of public companies and other financial firms regulated by the SEC.

The commission said the hack was detected in 2016, but that regulators didn’t learn about the possibility of related illicit trading until August, when they started an investigation and began cooperating with what the SEC called “appropriate authorities.”

It is time for a government commission to determine whether the large amounts of data collected by government agencies can be properly secured and significant limits be placed on such government data gathering.

 -RW

Wednesday, September 20, 2017

Theresa May Launches Stinging Attack on Donald Trump in United Nations Speech


Theresa May tonight launched a stinging attack on Donald Trump minutes before a face-to-face meeting with the US President, reports the UK's Mirror.

The Prime Minister railed against his decision to pull America out of the Paris climate change deal and blasted nations which erect trade barriers and pursue protectionism.

She warned against moves which “undermine support for the forces of liberalism and free trade that have done so much to propel global growth”.

Addressing the United Nations General Assembly in New York, May issued slap downs to rump, Russian president Vladimir Putin and North Korean dictator Kim Jong-un.

She called on nations to ensure “that those who flout the rules and spirit of our international system are held to account; that nations honour their responsibilities and play their part in upholding and renewing a rules-based international order that can deliver prosperity and security for us all”.

The PM added: “As the global system struggles to adapt, we are confronted by states deliberately flouting – for their own gain -the rules and standards that have secured our collective prosperity and security.”

 -RW

Incredible New Record Inflation for Venezuela

Kudos to Prof. Steve Hanke who tracks the Venezuelan price inflation.

HOT Judge Napolitano: I Strongly Stand in Rand Paul's Camp on Obamacare

This is very important commentary by the Judge. The Graham-Cassidy bill is very bad:



 -RW

Also, see: 

Trump: Rand Paul a Negative Force on Healthcare

 Rand Paul Speaks Truth to the American People: New ObamaCare Repeal Bill a Trillion-Dollar Boondoggle