Fed Jackson Hole meeting: Our money is a mess. Fed version of Davos, and just as liberal. Probably more harm than good for economy.
Monetary natives are restless: From left, Dartmouth's Andrew Levin Fed-Up. Easy money, minority governors, reduce inequality. From right, former Fed governor Kevin Warsh blasts central bank. Veteran WSJ reporter Jon Hilsenrath blasts models and blames Fed for populism and public disillusionment. Other lib academics want 3-4% inflation that would ruin savers & investors. And conservative John Tamny wants to end Fed.
Meanwhile economy 1.2% last 4 quarters in GDP revisions. Profits down y/y 5 straight quarters. Biz investment down again. Productivity down.
Need to slash biz taxes across-the-board to revive econ, jobs, wages. Also deregulation. Obama-Care must go. Fed can produce money, but it cannot produce jobs.
Need steady, reliable KingDollar to attract investment, raise confidence, keep prices stable. At 3% inflation, money value halves in 23.5 years. At 2% inflation, value halves in 35 years. Why not zero inflation?
Ann Coulter book: "In Trump We Trust." But did Trump betray her on immigration?
Can Trump still win? Losing in swing states.
WSJ reporter Jay Solomon new book: "The Iran Wars: Spy Games, Bank Battles, Secret Deals That Reshaped Middle East." Supreme Leader Ali Khameini big winner.
Why Trump tax plan is recovery winner, but Hillary's a recession loser. Want higher wages? Slash corp taxes.
Stocks down on week. Fed? Profits?