One Percent Don And The Latest Folly Of Trump-O-Nomics

Why are we not surprised? Having just signed the BUBB (Big Ugly Budget Buster), aka the Big Beautiful Bill, the Donald has wasted not even a New York minute pivoting to a demand that the Fed now crank up its printing presses red hot to finance the new flood of red ink.

We are referring to Trump’s Wednesday missive instructing the Fed to slash rates by a full 300 basis points. The only way that could happen, of course, is if the central bank resumes buying Treasury paper hand-over-fist with fiat credits snatched from thin air, thereby driving bond prices skyward and yields sharply lower.