Bannon, Navarro and a gold dude provide a breakdown on the current debt ceiling situation… I think this segment identifies pretty well the current populist libertarian MAGA GOP wing position on “debt ceiling”… MMT gets a disparaging mention…
If it is re-suspended they think it’s bearish USD, if US defaults they think it’s bearish USD, if it is re-suspended -they think it is bearish bonds and if US defaults they provide no opinion on bonds…
Aren't you embarrassed to be associated with these guys?
ReplyDeleteIt would be a different story if they were in power…
ReplyDeleteThey all believe incumbent party is more damaged by a shitty economy.. so last year GOP was incumbent so Dems trashed the US economy fir a bad cold virus this year Dems are incumbent so GOP trying to trash US economy.. rinse and repeat…
Well, there's a backup plan:
ReplyDeleteDems will be decimated at the midterms... because their policies haven't done shit for the average person.
They haven’t been able to do anything since the March stimmy due to their capitulation to this type of “debt!” and “inflation!” demagoguery…
ReplyDeleteSo you say “their policies haven’t done shit” it’s more like they have no policy…
But if they get a big stimmy thru reconciliation in September/October then this will change… so you see the non incumbents here trying to torpedo that…
I think Dems can get it thru reconciliation with Manchus and Sinema on board but not until closer to start FY22…. So we will operate under debt ceiling and all that implies for 2 or 3 months… with current savings desires running at 200b to 250b per month…
The China commie crackdown thing is in view here too as if that starts to snowball you might see more USD zombies over there seeking to liquidate equities and buy some US bonds…
ReplyDeleteInteresting... Navarro looks like he's been working out. Bannon looks like he's eating everything in sight. And the other guy just looks sad :(
ReplyDeleteMe? I'm on a coffee quest.
Matt, they always lift the debt ceiling. Congress ain't masterpiece theater.
ReplyDeletewell yes but as they say "timing is everything..."
ReplyDeleteIn Washington, posturing is everything.
ReplyDeleteClueless to the left of me, clueless to the right...
ReplyDelete