Our Tweeter-in-chief can barely type fast enough to keep up with the stock market. President Trump expressed great excitement about the stock market hitting 22,000 yesterday, and somewhat weirdly touted the fact that the market hit an all-time high; “weirdly” because all-time highs are not unusual. According to CNN, “the Dow has reached a new… Read more
Archive for the ‘Financial Markets’ Category
A few links: eroding norms and the limits of presidents re the economy
I’ve had a couple of WaPo posts out to which I’ve been meaning to link. This first one, on the warp speed of norm erosion in the Trump era, has the interesting feature that its shelf life was vastly shortened by the Mooch getting the bootch later in the very day I posted. Of course,… Read more
How R’s on the House Finance Committee want to go after the Fed’s independence, and why that’s a terrible idea.
I testified this AM at the House Finance subcommittee on monetary and fiscal policy. Three R witnesses and yours truly, so I didn’t get to say all I wanted—after all, monetary and fiscal covers a lot of ground! So, why else have a blog if I can’t use it to post the stuff I didn’t have… Read more
Recycling an oldie/goodie: You wanna whack this and future recoveries? Get rid of Dodd-Frank
Sorry to recycle, but with the Comey hearings sucking up all the air, folks may have missed that today the House today passed that fahrblunget bit of chazari known as the Choice Act, which largely repeals Dodd-Frank financial reform (it requires D votes in the Senate, so a much heavier lift over there, thankfully). Back in… Read more
This word “deregulation.” I don’t think it does what you think it does.
A quick note on “deregulation,” which is the other half of the mantra, i.e., the phony growth recipe–“tax cuts and deregulation”–you hear endlessly repeated in uninformed DC conversations. I’ve been in these conversations for decades and I have no idea what these people are talking about and neither do they. What, specifically, do they want… Read more