{"id":29378,"date":"2018-01-03T16:14:10","date_gmt":"2018-01-03T21:14:10","guid":{"rendered":"http:\/\/olduvai.ca\/?p=29378"},"modified":"2018-01-03T16:14:10","modified_gmt":"2018-01-03T21:14:10","slug":"unhinged-part-1-the-gops-fiscal-madness","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=29378","title":{"rendered":"Unhinged, Part 1: The GOP’s Fiscal Madness"},"content":{"rendered":"

Unhinged, Part 1: The GOP’s Fiscal Madness<\/a><\/h3>\n
\n

The watchword for 2018 is: UNHINGED!<\/p>\n

That refers to Wall Street, Washington, the Dems and the GOP, and all the far and near corners of the planet which are implicated in their collective follies.<\/p>\n

The latter begins with the fact that Imperial\u00a0Washington has become so dysfunctional that\u00a0the\u00a0most powerful government on earth can’t seem to\u00a0keep its doors open for more than a few weeks at a time.<\/p>\n

The next continuing resolution (CR) deadline is January 19 and the route thereto\u00a0resembles nothing less than\u00a0kick-the-can-alley. It’s\u00a0strewn with $100 billion of\u00a0unfunded disaster aid, defense and nondefense sequester caps fixing to be busted by another $100 billion, 700,000 dreamers waiting to be deported, 9 million poor children (CHAPS) facing termination of medical care and millions more ObamaCare recipients who have been promised\u00a0that cost abatement subsidies to insurance companies will be funded forthwith.<\/p>\n

And along\u00a0with those major bouncing cans are\u00a0countless more articles of\u00a0graft\u00a0and booty cued-up on Capitol Hill looking for a\u00a0legislative gravy train (i.e. CR)\u00a0to hop aboard.<\/p>\n

Likewise, the casino gamblers on Wall Street\u00a0complacently attempt to tag another record at 2700 on the S&P 500. Yet\u00a0that would represent a nosebleed 25X<\/strong> LTM earnings\u00a0heading into a bond market rout that is certain to\u00a0result from soaring treasury issuance and the Fed’s impending bond dump-a-thon.<\/p>\n

Worse still,\u00a0the Donald\u00a0insouciantly unleashes tweet storms about the\u00a0alleged Trumpian boom when the next recession is statistically just around the corner. After all,\u00a0the current so-called recovery will\u00a0pass the existing 118 month record, which occurred under the far more propitious circumstances of\u00a0the 1990s, in April 2019.<\/p>\n

But when it comes to\u00a0Unhinged, nothing tops the GOP’s disgraceful plunge into fiscal turpitude.\u00a0The once and former party of fiscal rectitude and a constitutionally required balanced budget has\u00a0unleashed a torrent of red ink, which under the circumstances, makes Barack Obama’s profligacy\u00a0pale by comparison.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Unhinged, Part 1: The GOP’s Fiscal Madness The watchword for 2018 is: UNHINGED! That refers to Wall Street, Washington, the Dems and the GOP, and all the far and near corners of the planet which are implicated in their collective follies. The latter begins with the fact that Imperial\u00a0Washington has become so dysfunctional that\u00a0the\u00a0most powerful […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[11668,5979,2120,17751,11404,17752,860,865],"class_list":["post-29378","post","type-post","status-publish","format-standard","hentry","category-economics","tag-capital-hill","tag-contracorner","tag-david-stockman","tag-fiscal-madness","tag-gop","tag-imperial-washington","tag-wall-street","tag-washington"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29378"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29378\/revisions"}],"predecessor-version":[{"id":29379,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29378\/revisions\/29379"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}