Xi is playing that guy like a Stradivarius fiddle. – GMM, Oct 2019
John Bolton’s new book is now in the hands of journalists and the deets are beginning to leak out. We state categorically GMM is not a big fan of Mr. Bolton or his neocon cabal. He just seems like a guy that has never met a country he doesn’t want to bomb.
We were also very upset Bolton refused to testify during the impeachment trial, choosing, what we perceived, money over country by not offering up to the Senate jurors what he has just unloaded on the POTUS in his new book.
In hindsight, however, it probably wouldn’t have changed any votes, and the timing and release of the book now almost seals the fate of the President and his Senate Republican enablers’ for defeat in November.
That’s a good thing for the country, the world, and the economy.
Let’s hope the Democrats do not misread their coming mandate but instead use it as an opportunity to implement the difficult economic and political structural reforms, which have long been needed. It’s time for some real leadership led by a government filled with policy wonks, experts, and the best that science can offer.
All of the Dems’ objectives and goals will be neutered unless they create an economic environment where small businesses can thrive and a strong, competitive, and dynamic private sector drives the economy.
We won’t get into much detail here but let’s start with getting big money out of politics, where rent-seeking corporations, labor unions, and all the above lobby the pols in order to change the rules of the game in their favor. K Street in Washington needs to be leveled.
Then onto to tax reform and dealing with the country’s wealth and income distribution problems. Education, training, and providing opportunities trump income redistribution though some of that will be needed.
We also do worry there is no turning back as pols have discovered the “free money” of the digital printing press to monetize every one of their pet projects. If I wanted to live in a high inflation economy, I’d move to Argentina.
High inflation disproportionately hurts the poor more than any other income group.
Market In Denial
Corporate taxes are going higher and so are capital gains taxes.
Biden is already on record saying he wants the capital gains tax — 15-20 percent on most assets — to correspond to ordinary income tax brackets (currently 10%, 12%, 22%, 24%, 32%, 35% or 37%). And don’t expect the income tax brackets to remain at current levels either.
The tax changes, especially on long-term capital gains, will go along way in making the U.S. tax system appear “fairer” and will eliminate the nonsense, such as following,
Mitt Romney made $13.7 million last year and paid $1.94 million in federal income taxes, giving him an effective tax rate of 14.1%, his campaign said Friday.
The market seems to think it’s business as usual and not one peep about this from the FinMedia geniuses and the potential for massive tax selling as the general election approaches.
You know our mantra, folks, always best to
panic sell before everyone else does.
The American Street is demanding it and must be dealt with in the context,
No peace without justice, no justice without forgiveness.
How it all plays out is anyone’s guess but we are thankful it finally appears the country is taking it serious, thanks, mostly, to the younger generation, by the way. We saw a lot of young white voters in the recent nationwide protests. We are certain they were not members of Antifa either.
We also believe we’re witnessing in the American Street, before our very eyes in lightspeed fashion, the torch being passed to a new generation of a more racially diverse and colorblind America. That’s a good thing.
John Bolton’s Revelations Confirm GMM
The following are some excerpts to remind our readers that the revelations that are now coming out in Bolton’s book were said on this site first without insider information based purely on our political analysis.
Curb Your Enthusiasm
George W. doesn’t have a Nobel Peace Prize that we know of.
We also hope it is not an all or nothing negotiation with Trump and Kim. – GMM, Aug 2018
Get over it, China is not going away and they are not going to change the structure of their economy just because the self-proclaimed “world’s greatest negotiator” demands it. Xi is playing that guy like a Stradivarius fiddle. – GMM, Oct 2019
If the Trump team makes concessions to China, it could raise doubts they went easy in order to get some oppo for his campaign, for example. That weakens the American negotiating position and lessens the chance of a deal…
We have no doubt the arms of the People’s Liberation Army (PLA) intelligence agency, including the MSS, have the sophistication and technology to cook up, say, a deep fake video of Hunter Biden even bribing Jesus and generating a viral sensation on social media. – GMM, Oct 2019
Here’s to hoping the prediction market is right and the country can limp through the next six months.