imho U.S. corp. debt is reasonable for the population and econ growth. What I don't consider reasonable is the way America loves Trump's soak the rich redistribution:
Donald Trump's Tax Plan Mistakenly Removes More From Tax Rolls
Catherine Rampell: Trump Tax Cuts: A Christmas Tree For The Rich
ah, and a hat tip to Chgogal for the link.
After all the deductions and loopholes, the wealthy pay about 23 percent federal tax on average.
25 without the loopholes is actually a tax increase on them.
A beautiful morning all! Last day of the quarter and instituional managers are making their portfolios look good (The Return of Window Dressing??) leading futures traders today to boost stock indexes up +1.19% and metals +0.95%. Econ announcements today (prep for tomorrows flood warning):
7:00 AM MBA Mortgage Index
8:15 AM ADP Employment Change
9:45 AM Chicago PMI
10:30 AM Crude Inventories
Other stuff:
Why Econ. Policymakers Make Such Huge Mistakes - Steve Forbes, Forbes
Can Glencore Survive? The Answer Is Simple - Ben Wright, Daily Telegraph
Fed Chairman Yellen, Kindly Meet Mae West - Doug Kass, Kass' Korner
After the Declines, Are Stocks Overvalued? - Eric Nelson, Servo Wealth Mgt.
Bull Will Resume When We're Older, Wiser - Mark Hulbert, MarketWatch
What the Critics of Income Inequality Ignore - Elizabeth MacDonald, Fox
Yes. We exported our inflation and created the huge bubble overseas.
Now everyone is beginning to see.
not all of us love it, especially the bottom end paying none.
The top and middle is being bilked again
Oil-Rich Nations Are Selling Off Their Petrodollar Assets at Record Pace
Dying Petrodollar Ripples Through Markets As Asset Managers Bemoan Loss Of Saudi Bid
Gregory Mannarino-Greatest Theft in History Coming
https://www.youtube.com/watch?v=tTVPFBktngg
A financial mene mene tekel upharsin to all of the corrupt.
Trump’s a NY Democrat businessman. His world view is that of a billionaire union member. He’s not transformative, but regressive. He’s Truman or Kennedy or Scoop Jackson. I had hoped for a Moynihan so as to undo the Deep State via welfare reform, but no.
Luckily with Pres. Trump we’ll be winning so much I won’t notice.
Checkmate, Ms Yellen