Notes in the Margin
Alex Pollock: Fannie Mae and Freddie Mac’s public risk could become private profit again
The worst case would be to turn Fannie and Freddie back into government-sponsored enterprises again, with a free government guarantee to subsidize the investors.
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Dollar Index Slumps 10.8% in Biggest First-Half Loss Since 1973
The US dollar index tumbled in the first six months of the year, posting its worst first-half performance since 1973 when Richard Nixon was president.
Trump pens handwritten note to Powell demanding lower interest rates
Trump continues his campaign demanding more inflation and the further devaluation of the dollar.
Brandan Buck: The Lost Liberalism of America First
The original adherents of “America First” grounded themselves in a liberal tradition, arguing that entanglement in foreign wars would erode freedom at home and threaten our constitutional republic.
Federal Reserve technocrats spent millions on new opulent offices
The chair of the Senate Banking Committee, branded the renovations “luxury upgrades that feel more like they belong in the Palace of Versailles.”
80% of House Price Appreciation Since 1990 Was Due To Falling Mortgage Interest Rates
Low interest rates are a type of subsidy to home prices, and rising prices reflect falling mortgage rates.
Judge Nap on the coming police state
Napolitano: The argument is that less liberty produces more safety. That premise is historically and morally erroneous.
The Fed’s favorite inflation measure increased again
May PCE inflation rises to 2.3%. Remember when Powell predicted inflation would soon be back at 2 percent back in September?
