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How Long Can This House Of Cards Last? What Can We Do?: Miller on the MoneyApr 29, 2021 - 12:49:41 PDT
If we constantly borrowed and spent more than we earn while debts piled up; our house of cards will eventually collapse.
We’ve only just started to see mainstream media covering silver as an investment - does this mean that Phase 2 of silver’s bull run is here? Join Mike Maloney, Jeff Clark and Adam Taggart in today’s video to find out.
Biden’s Economic Plan Would Redistribute Trillions and Expand Government: WSJApr 29, 2021 - 12:02:21 PDT
Beyond expanding the size and scope of government, Mr. Biden’s program aims to redistribute trillions of dollars of resources from the highest-earning households and businesses to everyone making less than $400,000 a year.
A range of central bank meetings this week brought little change on the policy front.
Mario Draghi needs to channel Italy's postwar reconstruction as he implements a massive spending plan and tries to reform his country.
Uber, Lyft, Doordash Plunge after Biden Official Says Gig Workers Should Be EmployeesApr 29, 2021 - 11:22:53 PDT
Shares of Lyft, Uber and DoorDash dipped Thursday after Secretary of Labor Marty Walsh told Reuters that gig workers should be classified as company employees.
Why "Taxing the Rich" Always Ends Up Landing on the Middle Class InsteadApr 29, 2021 - 11:18:05 PDT
The cost to save Social Security, fund universal healthcare, pay down the national debt, and launch a Green New Deal will be borne by wealthy, middle class, and poor Americans.
Fed is behind and is stuck in "employment agency" narrative vs. a realised inflation accelerating above 4% ! 200 bps and then 250 bps odds increased by 50% today...
Commodities prices have risen rather sharply over the past 12-18 months, adding to worries of pricing pressure and inflation. As you can see in the chart above, businesses are taking note. The word “inflation” is being mentioned at a record rate by S&P 500 companies on earnings calls.
"Government spending starts with taking money from taxpayers and setting 20 percent of it on fire. Even if the remaining funds were spent on very efficient projects, they have very little chance of creating net benefits for the economy.” ...
Weaponizing Dollar Risks Echo of Sterling’s Decline, Study Says: BloombergApr 29, 2021 - 09:06:33 PDT
“Only limited faith can be placed in the idea that dollar holders are ‘trapped’ by risks of economic loss,” the authors wrote. “The adverse downstream consequences of monetary coercion for the long-term viability of monetary power are material.”
These are serious numbers of dollars, the repayment of which will have seriously unpleasant consequences for future generations of Americans. Indeed, under Biden's administration, the feds will borrow three times what they collect in taxes. This is not a new phenomenon, but it exacerbates the modern trend of spend now and pay later.
President Biden released the second portion of his economic plan on Wednesday: $1.8 trillion in new spending and tax cuts over 10 years for workers, families and children. That’s on top of the $2.3 trillion infrastructure plan he released at the end of March. Together, here’s what’s included:
Biden-Powell Duo Seeks to Define an Era like Reagan-Volcker Did - Only in ReverseApr 29, 2021 - 08:42:13 PDT
Forty years ago, President Ronald Reagan and Federal Reserve Chairman Paul Volcker oversaw a root-and-branch restructuring of the U.S. economy.Today, Joe Biden and Jerome Powell are trying to do the same thing -- only in reverse. In the Reagan-Volcker regime change, power in the economy shifted from the government to the market...
Perhaps the most surprising thing was Powell daring to use the word “froth” to describe the stock market he himself is boiling.
The winner in these crazy bidding wars isn’t the buyer. It’s the seller. For buyers, it’s a Perfect Time to make a Terrible Deal (transcript).
Pending Home Sales Disappoint In March, Realtors Blame "Low Inventory" AgainApr 29, 2021 - 08:01:26 PDT
After a surge in new home sales and tumble in existing home sales, today's pending home sales print is the tie-breaker for whether the housing bubble has peaked on the back of un-affordability and rising mortgage rates.
Biden's 'Go Big' Plan Will Leave America's Middle-Class "Addicted To Government... & The Democratic Party"Apr 29, 2021 - 07:55:41 PDT
This is now about mainlining benefits to middle-class families so they become addicted to government - and to the Democratic Party that has become the promoting agent of government.
President Biden wants people to believe he is a moderate. The plan he presented to Congress and the nation Wednesday evening was more like a Progressive wish list.
Biden Calls for the U.S. To Become More Competitive Against a 'Deadly Earnest' ChinaApr 29, 2021 - 06:49:28 PDT
U.S. President Joe Biden called Thursday for America to work together against competition from China. Chinese President Xi Jinping is "deadly earnest on becoming the most significant, consequential nation in the world," Biden said in unscripted remarks as part of his first speech to a joint session of Congress.