Watch Episode 1113 of Steve Bannon’s War Room: Pandemic show below.
Barron’s compiled daily client memos from Greg Valliere, a Washington-based strategist with Horizon Investments, under the headline “Will Trump and Cruz’s Fed Feud Rattle Markets?” Subhed: “The two leading GOP candidates want to curb the Federal Reserve. Could that shake up stocks?” Valliere notes that the three living retired Fed chairmen and the current Fed chair proclaimed that the U.S. economy is not in a bubble and not close to a recession, contrary to claims that Trump-on-the-Stump recently made. He also expresses mild consternation that Mr. Trump and Sen. Cruz would favor “an audit of the Fed’s policies,” that they
Why does Wall Street keep recovering after recessions but the economy seemingly never does? The reason, as I document in my book, “The Scandal of Money: Why Wall Street Recovers but the Economy Never Does” is that Washington and the Federal Reserve together have created a closed loop economy where the Fed creates money for the government and the S&P 500 and Main Street is left out. The Fed decides what money is worth and who receives it and how much. The Fed prices it at zero interest rates, allegedly to stimulate economic growth. But whenever something is free, it’s
My book, The Scandal of Money: Why Wall Street Recovers But the Economy Never Does, launches today: The Fed creates money for the government and for the Fortune 500 corporations and nobody else gets it. . . this has starved Main Street — turned Main Street into Mean Street; it’s kind of gelded Silicon Valley made them into petitioners in Washington and it has turned Wall Street into a kind of servant of Washington; Wall Street has been effectively nationalized by the Obama administration. So we have covert socialist coup in America accomplished through the Federal Reserve and this has
Wall Street, which used to invest in the American economy, is investing big time in Hillary Clinton: Clinton’s most lucrative year was 2013, right after stepping down as secretary of state. That year, she made $2.3 million for three speeches to Goldman Sachs and individual speeches to Deutsche Bank, Morgan Stanley, Fidelity Investments, Apollo Management Holdings, UBS, Bank of America, and Golden Tree Asset Managers. Read more here. Maggie Gallagher is a senior fellow at the American Principles Project.
Over at the National Journal, Josh Kraushaar makes the case against smartypants politically dismissing Mike Huckabee in a column tellingly called “Mike Huckabee’s Message is as Formidable as Jeb Bush’s Money”. Kraushaar’s point: While other GOP candidates repeat well-rehearsed talking points about regulation, taxes, and energy, Huckabee is looking for ways to distinguish himself from the pack by a distinctively populist-sounding economic message. First, he is pointedly taking Social Security privatization and/or a reduction of benefits for retirees off the table. “If Congress wants to take away someone’s retirement, let them end their own Congressional pensions—not your Social Security,” as
With “Audit the Fed” being described as the “direst threat” to the Fed since Dodd-Frank, it’s worth while noting the mounting number of horrid consequences to actual people who need to make a living, especially from the federalization of banks. Today’s Wall Street Journal reports that J.P. Morgan Chase—which is a bank, by the way—plans to jettison $100 billion in deposits in order to comply with new federal banking regulations, devised under Dodd-Frank authority. “Isn’t a bank,” you might muse, “in the business of receiving deposits and putting that money to productive use?” Isn’t that how banks help the real