Last week President Trump started moving forward with his campaign promise to repeal the disastrous Dodd-Frank Act, taking steps to walk back some of the rules and regulations the bill spawned. While these are promising first steps, the larger provisions of the bill will have to be met with legislative action.
CNBC claims that the Fed has been “crying wolf” and will back off raising interest rates even a tiny bit more.
See the article by Hunter Lewis on the Mises Wire:
Will Janet Yellen Lend Trump a Helping Hand?
The Mexican peso has not found itself in such a dire situation since 1995. Its depreciation is largely due to a trade deficit that has affected Mexico since mid-2014, when oil prices began to fall. Therefore, the peso’s depreciation could be attributed to trade of balance issues that took place throughout 2015.
When it comes to mindless excess in the war on terror, it is difficult to compete with the 70+ fusion centers bankrolled by the Department of Homeland Security. They began to be set up around the nation shortly after 9/11 as federal-state-local partnerships to better track terrorist threats. But the centers have been a world-class boondoggle from the start.
The New England Patriots’ astonishing come-from-behind Super Bowl victory last night captured the attention of even this decidedly casual fan. The shell-shocked look on Atlanta Falcons coach Dan Quinn at the post-game interview said it all: he couldn’t believe what had happened.
With last night’s incredible win over the Atlanta Falcons, Bill Belichick won an NFL-record fifth Super Bowl as a head coach. This feat is made all the more incredible by the era in which he won it, with a salary cap and various other mechanisms put in place to make it harder for dynasties to last. While the hay day of the Steelers and Cowboys were built on a core group of skill players (Franco Harris and Lynn Swann for Pittsburgh, Emmitt Smith and Michael Irvin for Dallas), the Patriots had a different leading receiver every Super Bowl season, and four different leading rushers.
CNBC claims that the Fed has been “crying wolf” and will back off raising interest rates even a tiny bit more. There are reasons why they might want to back off. China is selling US securities, other central banks are selling, and the Fed might be afraid to sell any of their holdings, which would have to accompany a rate increase. It was fear of a collapse in the federal bond market in the first place that brought us all the frantic QE bond buying with newly created money.
The present currency war started with the Great Monetary Experiment under the Obama administration. This triggered a devaluation of the dollar through 2010–12. Since then the launch of similar and in some ways more radical monetary experiments in Europe and Japan have fuelled big devaluations of the euro and the yen. Meanwhile a combination of bubble credit policies and intensified repression has caused the Chinese currency to slide.
