Jan 13, 2018
Immigration puzzle. Trump swears, but so what? Many presidents do. Not racism, but frustration . Durbin wants visa lottery, Trump doesn't. Terrorist killed 8 and injured 8 in NYC from Visa Lottery. Trump wants merit program, not equal diversity. DACA must be accompanied by wall/barrier/drones/policing/window. $18b. Merit, not family chain. Can there be bi-partisan deal? Dems rather talk about racism than immigration. Ryan: " Very unhelpful...very unfortunate." Remarkable stock market continues. Wall St raising growth & profit forecasts. Higher real rates & correction? 3% RGDP, 15% profits, big capex, stronger consumer. Wall St analysts crediting Trump. Dudley & Kaplan fear overheating. Demand-siders. Dudley never understood supply-side incentives to raise econ potential to grow. Where's inflation? Watch gold, dollar, Breakevens, TIPS. Energy push temporary. Mainstream media wrong: corps already paying higher wages. Much more to come from investment boom.3 straight 3% growth quarters first time since Bush tax cuts 2005\. WalMart big wage hike. Toyota plant in Alabama. Davos good idea for Trump. World central stage to promote econ growth. Tax & regulatory rollback. Infrastructure. Immigration. Foreign policy triumphs. Along w/ 55 minute immigration meeting in Cabinet Room, shows world how capable he is. Like Reagan G-7 in 1981-83\. Bannon & Wolff wrong. Medicaid work requirements completely right. New IRS w/holding schedules, w/ brackets & marginal rates. States want charitable deductions to replace SALT deduction. Legal? Municipality v. state? Why not just cut state taxes? Lower taxes reduce deficits, not raise them. Trump on NAFTA. Rather negotiate, but will pull out. Bad for biz & market. $71b trade gap w/ Mexico. $17n w/ Canada. So what?
Jan 6, 2018
Bannon belly-up, stocks soar. His brand of populism is anti-growth. Trump decision to cut ties w/ Bannon a great decision. Good for Trump, economy, international relations. Bannon out at Breitbart? Political meaning of rift? Bannon PAC is dead. Will Dems back Bannon to attack Trump? Michael Wolff? Camp David meeting to determine 2018 agenda. Welfare reform, infrastructure, budget, immigration. Where's Steven Mnuchin? Cohn stays? $18b wall/barrier? Mexico pays? Chain migration? Merit system? Sanctuary cities? Econ growth 3-4%? Manufacturing rebound? Biz investment cap-ex boom? Wages already rising, much more coming? Will Fed panic? Gold flat under Yellen; dollar up 16%. Price rule? Powell cautious in 2012\. Came around. Lauds Fed staff forecasts. Decent jobs report. 10-year bond jump to 3-3.5%? Stocks driven by good profits outlook & tax cuts. Earnings revised up to 12% in '18\. Techs,energy, materials, financials, insurance/reinsurance. BUT: key factor is rate rise from better growth & capital returns. Long rate correction in stocks? Then rally continues
Dec 30, 2017
rump/GOP will do well in 2018. Don't listen to fake news pundits & fake polls. Investment boom econ after tax cuts. Key to everything. And everyone will benefit. Rasmussen/McLoughlan: 46-53, same as Obama. The world according to Art Laffer. Growth pay-for deficits. Dollar? Fed? Lindsay v. Clarida? Stocks? Supply-side tax cuts not inflationary. Blinder says corps pay taxes, not people! Corp tax cuts don't affect people. Trade war fears? Top 10 accomplishments made for strong 2017. What's in store for 2018? Budget battle runs into infrastructure. Dems want $1 tr from gov't. Tough trade tariff actions for NAFTA, China, steel, aluminum. China caught selling fuel to China--Russia too. Daca, Wall, refugees, tighter restrictions on legal immigration, Merit replaces family chain. Let Trump be Trump. Home run NYT interview. Staff didn't know. So what? Trump made his own plate at Christmas buffet Mara Lago-- talks to many people. 2018 econ outlook? Tax cuts, profits, rates, SALT effect, global econ better. US boom helps world. Can stocks do it again in 2018? Best & worst in 2017. Correction? Oil, gold, rates, bitcoin. Wealth effect? Goldman takes $5b 1-time hit. Stay w/ financials? Tax cuts priced in? GOP tax cut Is Dems worst nightmare. Reviving econ, jobs, wages, etc. Isn't 4% better than 2%? Fake polls. Trump endorses Ron DeSantis Fla. Gov.
Dec 23, 2017
Trump snatches victory from jaws of defeat. Dems in very bad place. Front end of first investment boom in 20 years. Proof of the pudding is in the eating. 4% is better than 2%. Don't you agree? Corporate tax cut dividend. Higher GDP pays for lost revenues. Middle class winner? Rising tide lifts all boats: everyone wins. Mid-term outlook much better w/ tax cuts & growth. No mid-term disaster (The Hill). Polling is awful. Take-home pay in February. Tax revolt in blue states? Stock boom continues. Higher 10-year to 3.5%? Profits? Fed? Multiples? Sell 100-year bonds? Gen Keane on Trump Doctrine/national security strategy. Economic security is national security. China/Russia? Money politics: Jimmy P welcomes Trump tax cut! Budget fight? Next agenda.
Dec 16, 2017
Pro-growth tax reform sets stage for investment boom. Everyone benefits. JTC: higher GDP pays for tax cuts. Most powerful growth factors.FIFO out. One need not be pro-child credit to be pro-child. Social engineering. High rates & big credit doesn't work. Front end of investment boom. Look at biz equipment. 3rd straight 3% quarter. Retail sales. Fed isn't tax cut enemy. No inflation. 3 more hikes in 2018? Why? Investigate investigators. FBI story spinning out of control. Clinton operatives running investigations. Insane. Trump-hating lawyer trying to pay women to come forward w/ new allegations. Sell to media. Take commissions. Incredible tale of reckless partisan FBI Strzoka and girlfriend. Bitcoin boom? Regulations? Stocks too high? Global growth and liquidity. No inflation. Big stock market week. Dollar & gold steady. McLaughlin poll warnings. Money Politics. Bannon dead. Defending Rubio.
Dec 9, 2017
Corey Lewandowski and David Bossie on new book: Let Trump be Trump Liz Peek and Mark Simone on the treatment of Trump by the press Stock market and all financial indicators all up. Here comes the Boom! Money and politics discuss the tax cut bill and the economic effects
Dec 2, 2017
Sen Roy Blunt of GOP leadership will talk about Senate tax bill & next steps. Will back door capgains tax hike on individuals be taken out? Charlie Gasparino & Dan Clifton talk taxes. Trillions more in revenues. I'd vote for it. You should, too. Pluses & minuses. Trump expects to be cleared in Mueller probe despite Flynn plea. John Hinderaker & David French talk Flynn, Mueller & Trump. No collusion. Weak case. Kevin O'Leary & Stephen Weiss: Biz tax cuts & flying stock market. Doug Schoen's new book "Putin on the March." He is succeeding. Trump policy. Mueller? Tillerson gone?
Nov 25, 2017
Art Laffer's outlook for taxes, Fed, rates, econ, stocks. Steve Moore on Soros' $18b tax dodge. Tax bill update: key points:corp rate & implementation/retroactive; small biz pass-through treatment/Johnson; ACA mandate repeal; SALT; corp interest deduction; back-door capital gains hike. Alabama certifies Dec 26. Much to be grateful on economy; cap-ex rising; share buybacks falling; 3.4% RGDP. Proper poll weighting R's & D's show different results, esp. taxes. Bruce Bartlett : "The Truth Matters"---- killing fake news. Stocks soaring. Fed rate hike Dec;what about 2018? Kill off tax cuts w/ Phillips Curve? Black Friday? Consumers decent shape, what about retail stocks? Trump effect?
Nov 18, 2017
GOP momentum for tax cuts. Ain't perfect, but biz side pro-growth. POTUS wants 35% top rate. Sen Ron Johnson wants bigger tax cut for small biz. Will O-Care mandate repeal work? Tax the rich so boring & stupid. Oren Hatch cleaned Sherrod Brown's clock. Schumer playing Salt. Good polling shows people want tax cuts. Wilbur Ross & NAFTA time-bomb. Roy Moore could be a problem. Jones ahead. 1 week to swear in. Dec 12 election. Do stock funds have to sell old stuff first? 2-week stock drop, but no recession in sight. God, Faith & Reason by Michael Savage.