Uncharted Waters: Budget Lunacy, The #MAGA Economy And What PredictIt Predicts For Rates
Listen, the GOP is all about fiscal rectitude, ok?
That's the party line. Unless of course we're talking about helping rich people get richer and emboldening corporate "citizens" to buy back more shares, in which case it's more like: "Fuck fiscal discipline, let's pass a deficit-funded tax cut!"
Just ask current OMB Director and former man who "really believed you can't spend money you don't have", Mick Mulvaney, whose views on spending have "evolved" with the presidency.
See, previously, M
“What, me worry?” A.E.N.’s immortal words ring in my ears. When in power the GOP will spend like drunken sailors on shore leave for all manners of idiotic things. Like their all time favorite, tax cuts for the likes of Kayne West, but also wars (another favorite – makes them feel tough and it’s what that “complex” wants), walls, parades (omg), corporate welfare, security stuff, and on and on. But come the changing of the guard and those MAGA caps will be replaced by the deficit cutting caps and it will be the programs that benefit the majority that will be in their sites. Fuck-em.
“a road to fiscal ruin”
I liked the Road to Rio
If we’re to rely on historical info from ’07 when rates were around 5% and then ’08/’09 happened and rates dropped, then spiked and then dropped again, it seems like now is the time to load up on 10 years. Latest auction was 2.99% with a ~$0.04 discount. We still haven’t (quite) gotten back to ’14 levels nor ’11’s 3.6% which seem nice right about now with massive downside opportunities in equities since there is little, if any, upside at this point. Just a thought…