It is the 21st of September 2019

News

Millennials Prefer Socialism To Capitalism

Donald Trump Jr. was right: It’s never too early to start teaching your kids about socialism. At least that’s what a survey published Thursday by the Victims of Communism Memorial Foundation appears to suggest.

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Goldman Slashes Q3 GDP By 30% Due To Hurricane Disaster

Yesterday, when commenting on the impact of Hurricanes Harvey and Irma, we noted that even before the two devastating storms were set to punish Texas, Florida and the broader economy, erasing at least 0.4% GDP from Q3 GDP according to BofA and costing hundreds of billions in damages (contrary to the best broken window fallacy, the lost invested capital more than offsets the "flow" benefits from new spending, which is why the US does not bomb itself every time there is a recession to "stimulate growth"), things were turning south for the US economy, which in turn prompted Deutsche Bank to point out that (adjusted) recession risk, at roughly 20%, is now the highest in the past decade, and that it was quite prudent for the Fed, which expects to hike rates at least once more in 2017, to pause its current tightening, especially since a period of both economic and market weakness is imminent.

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Trump Appoints "Death By China" Author Peter Navarro To Head Trade Office, Hints At Trade War With Beijing

Another day, another shot across the bow from Donald Trump aimed squarely at China.

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