"The current market turmoil tells me a new era is breaking…" – Andy Kessler, author, “Inside View”

Suicidal Money-Printing Yesterday, stocks recovered a little ground, following bi-partisan support for suicidal money-printing. The Dow finished more than 1,000 points higher. But this morning they are falling again, down the limit in futures trading.

It would be pointless to mention that it was “stimulus”, giveaways, free money, and fake interest rates that got us here in the first place. But now the Federal Reserve has cut its key rate down to a zero (despite a consumer price inflation rate over 2%) and ramped up its Repo Madness program. And the Trump Administration has now panicked, just like the Obama Team in 2009. Together, they are going to shower the nation with what used to be called, derisively, “helicopter money.” Like manna from heaven, it falls on the heads of the just as well as the unjust… but generally ends up in the pockets of scoundrels. Like Mnuchin himself, who pocketed millions from the bailout of ’08-’09. But now, there is no derision sharp enough to make the grifters bleed. They have the support of the Deep State, the press, Wall Street… and every dumbbell on every corner of Main Street America. It won’t be long before we have a guaranteed basic income, too.

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