An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Meh, what Scott does not understand is that Trump's marketing skills do not translate into leadership skills.
Yes, Trump is a good salesman and that helped him win the election.
But Trump has no clue how to fix things, health care being just one example. As Tom Hickey has pointed out before, Trump is already a lame duck. He has no legislative coalition to pass his agenda. He doesn't even control foreign policy. He can tweet, and that's it.
If Warren Mosler is correct, we are sliding into a recession. The lame duck will not be able to respond to the recession -- even if he knew how to respond and there's no indication that he does -- and Trump's poll numbers will fall even further.
It's always possible that Trump could evolve, but when was the last President who evolved in office? FDR?
The best we can look forward to is 4 years of gridlock, if Trump can keep his job that long. If not, then get ready for President Pence.
That is the adjusted ASSET VALUE of current bank portfolio of L&Ls... read Note 8 in the H.8 here:
"8. Excludes unearned income. Includes the allowance for loan and lease losses. Excludes federal funds sold to, reverse RPs with, and loans made to commercial banks, all of which are included in line 30. Includes all loans held in trading accounts under a fair value option."
They can carry the loans at book but if they reserve for potential losses then the number in Line Item 9 of the H.8 will include this adjustment... ie the number will be LOWER than the book value of the loans...
"Doesn't Trump's budget have to go through Congress"
The Appropriations bills are coming in HIGHER than even what Trump is proposing....
Budget Resolutions are NON BINDING.... Appropriations have the force of law... Budget Resolutions do NOT....
13 comments:
Meh, what Scott does not understand is that Trump's marketing skills do not translate into leadership skills.
Yes, Trump is a good salesman and that helped him win the election.
But Trump has no clue how to fix things, health care being just one example. As Tom Hickey has pointed out before, Trump is already a lame duck. He has no legislative coalition to pass his agenda. He doesn't even control foreign policy. He can tweet, and that's it.
If Warren Mosler is correct, we are sliding into a recession. The lame duck will not be able to respond to the recession -- even if he knew how to respond and there's no indication that he does -- and Trump's poll numbers will fall even further.
It's always possible that Trump could evolve, but when was the last President who evolved in office? FDR?
The best we can look forward to is 4 years of gridlock, if Trump can keep his job that long. If not, then get ready for President Pence.
2nd qtr just reported +2.6....
... based in part on growing inventories.
The economy cannot grow unless new money is pumped in from somewhere.
Yes people don't need inventories...
Also don't forget the good 'ole "excluding food and energy prices... blah blah blah..."
Just as long Hilary in 4 years time doesn't get back in. Let's hope she is outed and exposed before then.
"The economy cannot grow unless new money is pumped in from somewhere. "
It's currently up about 2% YoY.... then banks can leverage that a bit...
Trump has even larger increases in his budget for 2018 and the appropriations look even higher than what Trump is budgeting...
Even without the tax cuts and potential tax credits from Trumpcare it is looking a bit better...
It's currently up about 2% YoY.
Commercial & Industrial loans are currently 2% YoY. There's your 2% growth. Credit has been decelerating since the fracking bubble burst.
Trump has even larger increases in his budget for 2018
Doesn't Trump's budget have to go through Congress? Isn't there a debt ceiling vote later this year? Who is in charge, Trump or the Koch brothers?
That is the adjusted ASSET VALUE of current bank portfolio of L&Ls... read Note 8 in the H.8 here:
"8. Excludes unearned income. Includes the allowance for loan and lease losses. Excludes federal funds sold to, reverse RPs with, and loans made to commercial banks, all of which are included in line 30. Includes all loans held in trading accounts under a fair value option."
They can carry the loans at book but if they reserve for potential losses then the number in Line Item 9 of the H.8 will include this adjustment... ie the number will be LOWER than the book value of the loans...
"Doesn't Trump's budget have to go through Congress"
The Appropriations bills are coming in HIGHER than even what Trump is proposing....
Budget Resolutions are NON BINDING.... Appropriations have the force of law... Budget Resolutions do NOT....
You guys keep saying there is "austerity!" but look at what they are doing.... what they are DOING is raising the spending every year...
Look at it in CASH BASIS....
You guys dont get every serif and iota of your leftist paradise and you say "austerity!"... that is not reality...
But what are they spending it on, public services or the military?
What does that have to do with whether GDP goes up or not?
Or whether we go into recession or not?
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