The Great Recession Blog

One reason I started my own economics blog was because of how tired I was of reading government-regurgitated half truths about the economy. Nothing has changed. As Newsmax and other publications report this week that July was a bumper month for lower-wage earners, I continue to have to sift for myself through all the glitter […]

Central banks buying stocks are effectively nationalizing US corporations just to maintain the illusion that their “recovery” plan is working because they have become the banks that are too big to fail. At first, their novel entry into the stock market was only intended to rescue imperiled corporations, such as General Motors during the first plunge […]

The big announcement of the really, really big Trump Tax Plan with the “biggest tax cuts in history” came out bigly on Wednesday, as Trump promised. Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn, Trump’s latest tax team, beamed proudly as they presented their baby. The stock market took a deep breath, then

Is coming up with a Trump tax plan overtaxing the maestro of negotiation as he tries to conduct his way through congress? An initial clue can be found in his tax-related repeal of Obamacare. The all-important Obamacare repeal got repealed by Paul Ryan — the very person who proposed it — in a matter of […]

Having castigated Janet Yellen for keeping interest rates artificially low in order to help the Obama Administration keep a Democrat in the White House, Trump now likes Janet Yellen and likes low interest rates, too — so much so that he decided this week that it is finally time to get honest with America about […]

If the @realPresident wants #realTaxReform, he should forget about trying to redesign the albatross, and go for a change so big that it’s completely transformative. Pursue a change that the swamp will have an epileptic seizure over. It’s bold, and it’s simple if you have the guts to keep it simple. It’s great. My letter to the president:

According to Bank of America, there is no time to leap into the stock market like the moment before its cataclysmic fall. BofA’s Michael Hartnett has no doubt that the stock market stands on the edge of catastrophic collapse, but the euphoric rise before it takes the plunge could be the greatest financial rush you’ll ever know: […]

Many of the 2017 economic headwinds I’ve described will hit during the Ides of March, just as the Trump stock-market rally shows signs of topping out. This might not be the Great Epocalypse — not all at once anyway — but a large and likely correction is looming. I think the bear is about to be let out of his cage.

The triumph of Donald Trump as the champion of a revolution against the status quo assures huge economic changes in the coming year, which I’ll list below. His victory struck a shocking upset to the globalists who have steered the last sixty or more years of world history, as I reported in an earlier story about George Soros mourning […]

I’m afraid the Trump train is headed for a sharp economic curve that takes the US further away from free-market capitalism. The US already pulled out of the free-market station a long time ago, but Trumponomics moves deeply into a “mixed economy,” an economy in which government funding and private funding are married. The bankster-baron confederation in the Trump cabinet is […]

Banksters and their pocket politicians, barons of industry and their lickspittle lobbyists — these are the establishment, and these are the navigators that surround the helm as Trump takes the wheel and prepares to cast off. Nothing provides better clues as to where this voyage is headed than the carefully selected expertise of the chosen crew.

The financial end of the world in economic apocalypse is here. A funny thing happened on the road to recovery: Trump’s chief strategist admitted his view of the Trumpian future looks like the Great Depression. Even the world’s largest bank just said global financial default is the preferable way out and most likely way out of the Great Recession […]