U.S. Economy

U.S. Economy

The New Oil Reality

“The oil industry is more than 150 years old, and oil ‘should’ be getting more expensive to find and to pump, not less,” wrote Walter Russell Mead. “The most obvious oil fields should have been found first, and the most promising wells dug long ago. We should now be living in a world of diminishing returns, with more and more money chasing less and less oil... [leading] so many doom and gloom thinkers in the 20th century to agonize over ideas like ‘peak oil’. All that may happen some day, but apparently not soon.”

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Posted: May 18th, 2017 | Permalink

Ray Dalio's Big Picture

“Big picture, the near term looks good and the longer term looks scary. That is because: (1) the economy is now at or near its best, and we see no major economic risks on the horizon for the next year or two; (2) there are significant long-term problems (e.g., high debt and non-debt obligations, limited abilities by central banks to stimulate, etc.) that are likely to create a squeeze; (3) social and political conflicts are near their worst for the last number of decades; and (4) conflicts get worse when economies worsen.”

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Posted: May 16th, 2017 | Permalink

Health Care, Trump Agenda, Glass-Steagall

“There are talks of a few more dollars going into—what we call the safety net provision—this high risk pool to deal with the whole pre-existing concern,” said Rep. Jordan (R-OH).   

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Posted: May 4th, 2017 | Permalink

Treasury Secretary Mnuchin Comments on the GSEs

“I haven’t said [that Fannie Mae and Freddie Mac would] be privatized,” said Treasury Secretary Steven Mnuchin. “What I have said is I’m committed to housing reform. We’re committed to not leaving them as-is for the next four years. “We want to make sure that there is ample credit for housing. It’s a very, very important part of the economy, but we also want to make sure we don’t put the taxpayers at risk. And as you know, those two companies only exist because we have a giant line from the Treasury that supports them. We’re committed to having housing reform…”

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Posted: May 3rd, 2017 | Permalink

April, 2017 GSE Report

North Korea this time is really very close to having the capability to miniaturize a nuclear weapon, put it under the nose cone of an ICBM, and launch the ICBM towards the United States. …The detonation of a nuclear weapon on a major American city can really concentrate your attention. This is putting America first. We are a global power. That’s a reality. Therefore, our interests are worldwide. South Korea and Japan are two of our biggest trading partners, and they are threatened by this erratic, irrational regime in North Korea. We are on the verge of being threatenedin the United States ourselves. We’ve got inadequate defense capabilities.

...[I]t’s entirely foreseeable that the day North Korea gets the capability to drop a nuclear warhead on the United States via ballistic missile, Iran could have that capability the next day by writing a check in the right amount of money.

John Bolton

Former UN Ambassador

April 28, 2017

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Posted: May 1st, 2017 | Permalink

The Trump Administration's Tax Reform Proposal

“This going to be the biggest tax cut and the largest tax reform in the history of our country,” said Treasury Secretary Mnuchin.


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Posted: April 27th, 2017 | Permalink