Sure. Bread and circuses for the proles. But listen:
- The stock market is now negative for the year. Not "negative once you remove FAANG" but negative for the year.
- The housing market is nose-diving. I know Seattle better than I know any other market, but Seattle is down 15% year-over-year and I'm seeing 10% per month price drops. Meanwhile, the average new home loan rate has topped 5%, Jerome Powell looks to be running the Fed more like Paul Volcker than Ben Bernanke and we're in "hold onto your butts" territory from a financial perspective.
- The Treasury Department is issuing $450b in new debt this morning bringing total debt to $1.37b, double the 2017 number.
- Jobs numbers aren't nearly so stellar once you filter out the part-timers and apply the discouraged. Meanwhile unemployment for women is much higher than unemployment for men.
Trump also promised new tax cuts before the election... and Congress ain't even in session. "Birthright citizenship" is the 14th Amendment. It takes an Amendment to repeal and Amendment. Yeah I get that this riles up his base and makes all them MAGA hats bob up'n'down but that doesn't make it policy.