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Capitol Punishment
Let's dispense with a few obvious points up front.
From a pseudo-philosophical perspective, it does
I’ve never met a Dane that I liked so no Kroners for me, please.
The only thing that might change my mind would be a forced extension of maturities on treasuries held by foreigners as part of a “Mara Lago Accord”.
Have there been any kind of serious changes in the prices of credit default swaps on US Treasuries?? Not that I’ve heard of but I don’t follow that market anymore.
I still read your stuff H… Not one to argue the facts . These se are changing times in every way..
Remember MMT… Remember Glacial Melting … Remember Gold… Remember History ..( The way it was not the way one cares to read it ..)
This stuff is ideological this Geopolitical thing. This is all about who you are and what suits your narrative..
Thanks for all your insights .. and you are as you said still the best item in the in basket.
Too me agreeing is not necessarily what I derive the maximum benefits from and that I hope you will not be critical of…SO I WILL SHUT UP EXCEPT ON OCCASION…
Wondering if you post this
Regards ,
g…………
regards to all my fellow readers.
I’ve lost track. Are the budget watchdogs or the Rep Congress counting tariff tax revenues in their BBB deficit math?
Figure imports from Everyone But China was about $2.9TR and from China was about $450BN in 2024, then 10% on EBC and 50% on China implies about $500BN, before elasticity takes it down some, maybe to a (total guess) $400BN tax increase via tariffs?
Of course no-one knows if tariffs will be 10 and 50 or something else, so I will assume tariff tax is not counted in scoring the BBB, but will ultimately lower the BBB deficit.
Do we end up in a situation where the bond market starts actually wanting higher tariff taxes then?