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Traub: “The US Has Reached The Last Stage Before Collapse”

Authored by James Traub via Foreign Policy, The United States of America Is Decadent and Depraved The problem isn’t Donald Trump – it’s the Donald Trump in all of us… In The History of the Decline and Fall of The Roman Empire, Edward Gibbon luridly evokes the Rome of 408 A.D., when the armies of […]


Susan Collins Says She’s A ‘Yes’ On Tax Reform, Assuring Vote Passage

In an announcement that effectively clears the way for the GOP's Congressional leadership to send the Republican tax-reform plan to President Donald Trump's desk, Maine moderate Susan Collins said Monday afternoon that she intends to vote for the bill. As Republicans try to pass their No. 1 legislative priorty by week's end, a new controversy […]


Stocks Surge To All Time High As Corker Unexpectedly Joins Rubio In Supporting GOP Tax Bill

Update: Just hours after Rubio announced that he would support the reconciled Republican tax plan, Tennessee Sen. Bob Corker – the only Republican who voted against the Senate tax bill – has said he, too, will support the legislation. By supporting the bill, Corker – who has publicly feuded with President Trump, famously comparing the […]


“It’s Done”: Here Is What’s In The Final GOP Tax Bill

Well – for now – that was an anti-climax… *RUBIO IS SAID TO BACK TAX BILL AFTER CHILD CREDIT TWEAKS: CNBC *BRADY SAYS HE HAS ALL SIGNATURES HE NEEDS, "IT'S DONE" But the market seems unimpressed by the 'news'   And even "high tax" names are underperforming…   Here is Bloomberg's breakdown of what we […]


The Yield Curve Is Crashing-er

Stoccks are at record highs on the basis that Marco Rubio might a 'yes' and John McCain will make it through the weekend… but if everything is so awesome, why is the yield curve collapsing? This is the 5th weekly plunge in the yield curve in a row – the longest streak since March 2016 […]


Stocks Jump On Conflicting Reports About Rubio’s Support For Tax Bill

Update: minutes after the trial balloon was floated, the initial Fox report has been denied: SEN. RUBIO STILL A `NO’ ON TAX BILL, HASN’T SEEN TEXT YET: AIDE Yet somehow, despite the fading of the early spike higher, stocks are about still 0.6% higher than where they were on Thursday when the news first broke. […]


Stocks Surge To All Time High On Conflicting Reports About Rubio’s Support For Tax Bill

Update: minutes after the trial balloon was floated, the initial Fox report has been denied: SEN. RUBIO STILL A `NO’ ON TAX BILL, HASN’T SEEN TEXT YET: AIDE Yet somehow, despite sliding on yesterday’s Rubio news, stocks have refused to react to today’s rejection, and are now trading at all time highs clearly certain that […]


“Suspense Mounts” – Timing Of Tax-Reform Votes In Limbo As More Senators Get Cold Feet

With Bloomberg writing this morning that "Mystery, Suspense Mount" two days after President Donald Trump told the American public that Congress was “just days away” on tax reform, two more senators  – including one-time Trump rival – Marco Rubio appear to be getting cold feet – much to the market’s chagrin. Yesterday afternoon, stocks dropped […]


Stocks Slammed As Rubio, Lee Spark Tax-Reform-Deal Anxiety

With McCain in hospital and now Lee and Rubio questioning the child-care credit, markets are showing some anxiety about just how "done deal" this deal really is… GOP SENATOR LEE UNDECIDED WHETHER TO SUPPORT TAX BILL; SEEKS CHANGES TO CHILD TAX CREDIT – AIDE: RTRS RUBIO SAID TO VOTE `NO' UNLESS CHILD TAX CREDIT CHANGED: […]


Stocks Sink As Tax-Reform-Deal Anxiety Rises

With McCain in hospital and now Lee and Rubio questioning the child-care credit, markets are showing some anxiety about just how “done deal” this deal really is… GOP SENATOR LEE UNDECIDED WHETHER TO SUPPORT TAX BILL; SEEKS CHANGES TO CHILD TAX CREDIT – AIDE: RTRS LEE AND REPUBLICAN SENATOR RUBIO WANT TO MAKE MORE OF […]


Sexual Assault Storm Tells us Something Else About Power

Via The Daily Bell Let’s talk about power. The way I see it, there are basically two types of power, political and economic. You can wield power through the government, or through your giant bank account. In the crony world of corporate-political America, the lines are blurry. These days most people gain their political or […]


In Critical Test Of Tax Reform Bill, Senate Narrowly Approves Motion To Start Debate With 52-48 Vote

Update (5:55PM EST): After a full day of debating the GOP tax reform bill, the Senate has now approved a motion to…drum roll please…debate the GOP tax reform bill.  As we detailed below, this was the first big test for the GOP’s tax bill before the entire Senate and it narrowly passed with a vote […]


GOP “Lovefest” Or McCain Mayhem: McConnell Says Crucial Procedural Vote On Tax Bill Coming Later Today

Just yesterday a 12-11 party-line vote in favor of the tax reform bill by the Senate budget committee allowed Mitch McConnell to breathe a temporary sigh of relief after earlier objections by GOP members left many wondering whether the bill would even make it out of committee.  Now, the controversial legislation is set for its […]


GOP “Lovefest” Or McCain Mayhem: Crucial Procedural Vote On Senate Tax Bill Expected Later Today

Update (3:15PM EST): Senator Lisa Murkowski (R-AK), who was a key swing vote against several Obamacare repeal and replace bills earlier this year, has confirmed that she will vote in favor on the Senate’s tax bill. Alaska’s Sen. @lisamurkowski will vote YES on the GOP tax bill, her office tells me. — Garrett Haake (@GarrettHaake) […]


House Passes GOP Tax Reform Bill In Major Victory For Republicans

Update: The House has passed its tax reform package with a final vote of 227 yeas to 205 nays. And while the Republican leadership has ordered the caucus not to gloat about the legislative victory – possibly the biggest so far for President Trump – Paul Ryan and Co. will be able to go home […]