Doug Noland: A Dubious Monetary Backdrop

Share on Facebook

Tweet on Twitter

wallstreetexaminer.com / by Doug Noland • January 28, 2017

This is a syndicated repost courtesy of Credit Bubble Bulletin. To view original, click here. Reposted with permission.

Now that was one eventful week. President Trump wasted not even a minute in making good on a series of campaign promises. A bevy of executive orders moved to rein in Obamacare, withdraw from Trans-Pacific Partnership (TPP) trade negotiations, tighten immigration, cut regulation and advance the Keystone Pipeline. No earth-shattering surprises there. Perhaps more startling, Team Trump had yet to even unpack before broaching radical notions such as abandoning the strong dollar policy, imposing 20% border tax on imports from Mexico and opening direct confrontation with the media. Friday evening from the WSJ: “Trump’s First Week: Governing Without a Script.”

At least for this week, I’ll leave it to others to pontificate on the economic merits of Trump policymaking. Dow 20,000 is testament to the market’s ongoing fixation with tax reduction and reform, de-regulation and imminent fiscal stimulus. There were enough disquieting developments this week to dent confidence, though break-out bullish exuberance proved resilient. Unwavering faith in the course of central banking surely underpins the markets, confidence that I expect

Read more ... source: The Bitcoin Channel

SHARE

Facebook

Twitter

Previous articleFresh controversy trails MMM as top guider, wife reportedly flee to Philippines

Let's block ads! (Why?)

Powered by Bitcoin Central