Tuesday, July 26, 2016


A thought which came to mind yesterday...and today if I were to be honest.  Breaking news there isn't.  Stale, dull, boring news there isn't.  The Fed finishes up tomorrow and absolutely nothing will happen but to make it seem important the pundits will be hanging on every word.  In case you miss it what will be said is that overall economic conditions improved some what but not enough to justify a  rise in the discount rate at this time, leaving open the possibility for a rise at a later date this year which will not happen.  There will also be some blather about how there remains a clouded view Over There because of BREXIT and the the Fed will be monitoring things going forward.  Back to sleep, children.  So much for international banking.  There was, however, the puff piece of all puff pieces on Fed Governor Lael Brainard on the first business page of the NY Times today.

Ms. Brainard, as has been explained before, is a fiercely partisan Fed governor along with Big Danny Tarullo, who besides being Democrats to the core also share a couple of other traits: they are both very intelligent and broadly disliked.  So, now that the game's afoot, it's time for the Times to rally 'round this Clintonista and start of make her acceptable to the Great Unwashed should Hilary win this thing for surely Lael would just love to be the Secretary of the Treasury in a Clinton administration.  It's wonderful to watch how the next move in a Democratic administration--even one not yet in existence--is forecast by the Times by way of a "news" piece.  No media bias there.  Nope.  Not a bit.

Nothing is going to happen Over Here until the convention is over and August begins this weekend...actually, on Thursday...Over There so that takes care of the western hemisphere.  If we are going to keep a watch on anything in the next month it's going to be currencies because if there is any action, that's where it's going to be.  Christmas has already come early for the Chinese as the Yuan continues to be devalued and there's not a damn thing anybody can really do about it.  Things might get exciting if Mr. Trump has anybody on board who knows anything about this kind of thing but even if he does, there isn't 10% of the voting public who will understand it or for that matter, care.  Not good for Bloggers...especially those dealing with these subjects.  At least the weather is beautiful.  Got me a killer sun tan but no material.  It could be worse.

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