Category Archives: Economy
When short term interest rates exceed long term rates, economists call it an inverted yield curve. And that can mean the economy is headed south. I looked it up – here.
Inverted Trump Curve
But when the economy is good the president usually gets credit for it and his poll numbers head north. However, with President Trump being Trump, it’s not so simple. He has his own inverted curve. The economy is soaring but his poll numbers are sinking.
President Trump’s policy is “if you hit me I hit you harder.” So he spent last week hitting the mayor of San Juan Puerto Rico over the death toll due to Hurricane Maria.
He claims “We Did a fantastic job in Puerto Rico.”
A GeorgeWashington University study commissioned by the Puerto Rican government says the hurricane killed 2,975 people. But FEMA administrator Brock Long says many of those deaths occurred “six months after the fact.” The initial number of deaths confirmed by coroners is 64. Trump’s preferred number is 18. That was the official count when he visited two weeks after the storm.
Meanwhile Obama has entered the mid term fray and he’s taking credit for the current economic boom.
President Trump’s former campaign manager Paul Manafort was convicted on eight charges of bank and tax fraud. The judge ruled a mistrial on 10 other charges. The conviction isn’t related to Robert Mueller’s collusion investigation.
But maybe it was related to Manafort’s taste for the the finer things in life. He once spent $15,000 on an ostrich jacket. Not that there’s anything wrong with that. Except that he lied to banks for loans and didn’t pay taxes on $16 million.
Vox follows Manafort’s money here.
The Koch brothers have jumped ship. They’ve given millions to Republicans in the past but they say they’re more interested ideas than party.
Daniel Henninger in the WSJ reports, “In an interview, Charles Koch said trade wars and prosperity were incompatible and that his organization’s financial support wouldn’t depend on party affiliation.”
Donald Trump called Koch “a total joke in real Republican circles.”
Koch Brothers Abandon Trump
Henninger askes, “what Republican circles?”
Rather than a one-off event or joke, the Kochs look more like a phenomenon emerging on the right and left, including MoveOn, Daily Kos, Breitbart, Black Lives Matter, Club for Growth and Netroots Nation.
Some voters will tie themselves to the Trump mast and ride it out. But Charles and David Koch aren’t a joke. That feud was a warning shot.