Subscribe to Prof. Heather’s Letters from an American. It was the first site in which I did so. There is a parallel to what was taking place after the Civil War and what is taking place today. Letters from An American On April 9, 1865, General Robert E. Lee surrendered the Army of Northern Virginia […]
So Trump announced yuuge “permanent” tariffs and the stock market indices all tanked. Then Trump backpedaled on all the big tariffs except on China. Why the Trump flip-flop? Here’s Josh Marshall over at TPM: “Every sign is that it was not about the equities markets but rather the bond market, where the demand for U.S. […]
Herr Trump, “If you are going to do it, then do it.” Quit threatening us with tariffs on the supply base that supplies us with goods. You are not going to pay for it. The government will not subsidize us. There has been nothing accomplished by all of this except for embarrassment. Do you know […]
Will the lies ever stop? Today: Ernie Tedesch Director of Economics at Yale The Budget Lab. “Real manufacturing GDP (value-added) grew 1.3% over the 4Q ending 2024, and 2% annualized over the 8Q, neither of which are recessionary. Ernie said this in response to Treasury Secretary Bessent trying to shift blame away from Trump to […]
-by New Deal democrat The financial market thrill ride continues on. I considered writing up a post on bond yields this morning, but who knows where they will be at the close of markets this afternoon?!? So let me point out that the Roberts Supreme Court has created a legal doctrine under which the T—-p […]
Initially presented at KFF, “Blockbuster Deal Will Wipe Out $30 Billion in Medical Debt. Even Backers Say It’s Not Enough.” Yves Smith also features the same article at Naked Capitalism as of April 8. The discussion is over medical debt. The opinion offered by Yves is such that the buying up of medical debt is […]
If you are not aware, each group bids on the area they will serve. CMS pays them a certain amount. What occurs is over-prescribing the condition of the patient and withholding care. In each case the group providing the car is paid. Both have been going for a long time. The last report detailed over […]
It is difficult to believe Americans do not have a negative opinion about the 2017 income tax cut which as expected did not pay for itself. Instead, we have trillions in deficit which we will have to make up. The benefit went to the upper 1% and you can throw in the 5% also. Similar […]
As outlined in Monday’s report, NDd will cover the impact of a tariff caused recession in his daily reports. Daily T—-p tariff recession watch: no evidence of hard data deterioration to start – by New Deal democrat Are the T—-p tariffs quickly putting the US into a recession? As I wrote yesterday, there are two daily […]
Don’t like income taxes? Next year, don’t pay ‘em. Who’s gonna force you to? “DOGE is also in the process of essentially closing down the Tax Division at the Department of Justice. “Since the Tax Division is a statutory creation, it can’t literally be shuttered. As DOGE has done at numerous other offices and agencies, […]