Category Archives: Economy
Raising Rates
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As the economy grows the fed has been raising interest rates. President Trump isn’t pleased and he let Chairman Powell know it. He said “it looks like he’s happy raising rates.” As of Wednesday stocks were negative territory for the year.
Elon Musk Settles
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“Musk might be a genius when it come to electric cars and space travel, but he’s a little bit of a numbnut when it comes to dealing with the SEC,” Stanford Law School professor and former SEC commissioner Joseph Grundfest said in a weekend interview with the San Jose Mercury News.
Inverted Trump Curve
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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.
Fantastic Job in Puerto Rico
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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.”
Death Toll
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.
Manafort’s Money
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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.
