Late last week there was alot of discussion made over President Donald Trump's comments calling for the Fed to temper its raising of interest rates while at the same time washing his hands of the economy by saying he 'trusts' the Fed's policies over the monetary and financial systems.Read More
As bond markets in the West show signs that foreigners no longer want dollar denominated assets, an interesting thing is occurring that may just provide short-term salvation to economies that desperately need an infusion of liquidity. And this surprising catalyst is the sudden rising of oil prices and the return of Petrodollar flows.Read More
London Paul and "V" discuss the ancient and New Silk Roads, the reality of the failing US economy and the global shift away from the American dollar. It's very unfortunate we are witnessing the collapse of an failed empire with desperate stunts like the Sergey Skripal poisoning circus in the UK. Reality is here. -- JWSRead More
March 9 -- Contrary to the hyperventilation from major U.S. media, which claim the resignation of Gary Cohn is more evidence of the chaotic and dysfunctional character of President Donald Trump's presidency, a Washington insider described it is a major defeat for the City of London/Wall Street financial elite which have dominated U.S. economic policy for decades. Further, he said, he is delighted by the news, as it opens the possibility that Trump can get back to the economic themes that helped him win the 2016 election. In particular, he pointed to restoring Glass Steagall banking separation, and the prospect for a "LaRouchian approach" to infrastructure development. Cohn, he added, has been the inside operative for those bankers and neo-liberal financial titans who fear Trump could follow the economic program outlined by LaRouche. Reading between the lines of the anti-Trump media, it becomes evident that this is the real reason Cohn's departure is causing so much angst on Wall Street.
Cohn, who served as the Chair of the National Economic Council, resigned in opposition to the tariffs on steel and aluminum imports announced by Trump earlier in the week. The New York Times on March 6 identified Cohn as the "strongest voice for free trade in Trump's inner circle," writing that, though a Democrat, he "served as a proxy for the business wing of the Republican Party" -- a reference to the fact that among Cohn's closest allies in the fight to prevent Trump from reversing the free trade policies of his predecessors, Bush and Obama, are House Speaker Paul Ryan and Senator Orrin Hatch, the chairman of the Senate Finance Committee. Both Ryan and Hatch are Republicans.
More direct in its coverage, the Capitol Hill daily Politico began its article on Cohn's departure, "Wall Street is losing its main man in the White House."Read More
As longtime RogueMoney readers and listeners know, there's a reason the powers that be are amping up racial and red state vs. blue cities/urban/rural divide tensions. Whether the fights are about Confederate statues few black or white paid attention to before or the legacy media's demonization of President Donald Trump from 'Putin's puppet' to Klansman/'Nazi'/'White Nationalist': it's all a big distraction from the American and western economies coming apart.
Even Germany the star performer and outlier is slowing down under the weight of general EU stagflation exacerbated by sanctions designed to fuel FUD and wreck trade with Russia -- though the mainstream media are generally downplaying signs of slumping German growth or stagnation to boost Chancellor Angela Merkel's reelection to a 4th term. The Canadian and Australian housing bubbles pumped up by easy money and Chinese buying sprees are popping. Commercial real estate followed by the rent is too damn high bubble in the U.S. are certainly next.
The central bankers know it's game over for the Fed put extend and pretend game they've played since 2008 -- hence the rumors of war with North Korea abroad and attempts to whip people into genuine fear of a second Civil War at home. -- JWSRead More
Speaking on the August 3, 2017 Mornings with [V and] Producer CJ, Ken "The Shotgun Professor" Schortgen Jr. of The Daily Economist addresses the 'Hindenberg omens' in the stock market, a breakdown of the yen carry trade, the Federal Reserve's debt/interest rate trap (with an estimated $250 billion in additional debt service for every percentage point the Fed raises rates), and Congress exacerbating the global beggar thy neighbor trade war that's been underway since 2009.
Ken compares the recently passed H.R.3364 - Countering America's Adversaries Through Sanctions Act to the notorious Smoot-Hawley tariffs that worsened the Great Depression of the 1930s. However, Ken says American efforts to force shale natural gas shipped via expensive LNG tankers on Europe to muscle out Russian energy exports are unlikely to succeed. The EU itself is in crisis from members like Poland and Hungary defying Brussels mandates to accept Muslim migrants and is unlikely to handle the strain of additional energy costs imposed by the Americans. Ken adds that the Fed and the U.S. government don't have the ammunition to battle against the tsunami of dollar dumping and economic isolation coming upon the American economy. -- JWSRead More
V the Guerrilla Economist interviews London Paul on Monday, January 30, 2017. London Paul discusses the need for the U.S. to expand its horizons and how President Trump is seeking a new trade framework with the now Brexit-ed UK and the New Silk/One Belt One Road (OBOR). -- JWSRead More