Hello Mr. President, still want to hand out $1.3 trillion in free bribe money?
Bond Yields Surge
The 30-year long bond yield is the highest since Summer of 2007.
Highest Since Global Financial Crisis
Hello Treasury Secretary
AAA Fuel Prices
Another day, another record diesel price. Interestingly the price of gasoline jumpedmore than diesel today.
Crude Prices
- West Texas: $101.35 up $5.25
- Brent: $106.61 up $5.42
Wow,
The price of gasoline and diesel will both jump tomorrow.
Rate Hike Odds
In six days the Fed is going to hike.
I doubt even a good CPI report tomorrow can change that.
For discussion, please see my August 31 post Political Realities May Force the Fed to Hike in September
Change “may” to “will”.
For my opening comment, please see Trump Offers $5,000 Bribe to All Adults if Republicans Hold Congress
Of course Trump still wants to hand out the money. The big problem is that his team now needs to work out the granularity. They will probably want to bring Musk back in due to his expertise in this area in Wisconsin. It was silly to make the hand out contingent on Republicans winning the House and Senate in general and then giving money to everyone. Blue states and districts shouldn’t get a dime. Now he needs to figure out how much he gives to each resident of a state that elects a Republican senator and how much to each resident of a congressional district that elects a Republican. Live in a blue district / state? Nothing for you. Just when you think it has gotten as bad as it can get, it gets worse.
Looks like a republican debacle for the mid-terms as the impact of taco’s ill-fated policies have come home to roost. All his bs gift plans and etc. will be useless as Americans are feeling the pain from this clown’s actions. Time for CHANGE.
Yeah, can’t wait for change like America Rescue Plan and Inflation Reduction Acts. Face it, a large enriched swath of the population doesn’t want prices to go down because prices also means homes and stocks. It’s clear the Republicans didn’t improve inflation…but what you missed is the Democrats didn’t either. Until we stop spending massively more than we take in inflation will persist. Bribes come in all forms and the 2 bills I mentioned were full of them.
Putting 10 tankers in the bottom of the Gulf surely ain’t gonna help. (no one seems to care about environmental impacts, just their precious price of gas/diesel)
Ukraine and Russia wiping out refining capacity ain’t helping.
The world looks closer to global conflict than ever as the gentrified monied class is gonna fight deflation kicking and screaming. Thank God we are seeing a hint of bond vigilanteism.
God we need a comeuppance.
You are correct that Biden didn’t help inflation but at least the country got a huge, desperately needed infrastructure improvements in return.
I am not sure that it was the best time but where we are there will never be a good time.
It was extremely clever of Trump to pull out all the stops to delay this reality setting until mere weeks before midterms. Another masterful chess maneuver of the 18th dimension!
Looks like Trump’s plan to bring gas prices down is to bomb tankers. That should work.
I figured he’d be at least smart enough to try to steal the tankers, but I guess he’s afraid of what happens when China runs out of patience with that.
meanwhile: ADEN, Yemen (AP) — The Iran-backed Houthi rebel group on Thursday took over Yemen’s port city of Mokha, an area vital to controlling shipping through the Red Sea, Houthi and Yemeni officials said. https://apnews.com/article/yemen-iran-houthi-rebels-red-sea-mokha-e4e799701b382799a955969c212800ea
The hooties are about to shut down another straight.
Truly long term thinking.