Headlines

Poll: Biden holds narrowed 7 point lead over Trump post-convention

Private payrolls grow by 428,000, but misses expectations, ADP report says

Kennedy dynasty sees first ever loss in Massachusetts

China’s Army surpasses U.S. in missile development and number of warships

DC panel calls for removing or relocating Washington Monument

DHS, FBI rebut reports about hacked voter data on Russian forum

Coronavirus live updates: Beijing to resume direct international flights, WHO warns ‘winter is coming’

Portland mayor [physically] moves to stop rioters from targeting his home

Antifa ‘commander’ reportedly cried in fetal position during arrest

Trump moves to ban evictions nationwide through December

Mortgage demand from homebuyers is now up 28% from last year

Exclusive: BLM approval tanks in Minnesota

STAND UP FOR AMERICA!

Headlines

Social distancing guidelines will likely be in place beyond April, surgeon general says

Coronavirus live updates: Over 1,000 NYC police get COVID-19, TSA screenings at 10 year low

Pay slashed for ER doctors, nurses fighting virus ... Prisoners dig mass graves ...

Wuhan backlash: Australian dockworker refuse to unload Chinese cargo ship

Russia sends plane with medical supplies to U.S. for coronavirus response

Treasury Secretary Mnuchin says he’s having ongoing discussions about infrastructure

Coronavirus now third leading cause of U.S. deaths ...

Purchase mortgage applications crash 24%

Federal prisons start 14-day lockdown to fight virus

Coronavirus effect could be ‘far deeper than the subprime crisis,’ say mortgage company CEO

New strain ‘lasts for 49 days’ in infected patient ...

CNN host Chris Cuomo tests positive for coronavirus

World Economic Growth

The world is gasping for economic growth. Flat or falling populations in much of the developed world has pulled the props out of economic expansion opportunities. This is compounded by a socialism trope that has removed the notion that capitalistic fiscal policies should be used to stimulate things ... like Trump has been effectively using in the US with tax and regulation cuts.

The result of course is that central banks in these countries are being used to try to stimulate their economies ... after all it worked in the US after the financial crisis in 2008-09. This lesson has been followed slavishly until interest rates have gone negative ... even for 30-year German government bonds. Another symptom of this lassitude is in England home buyers can get mortgages wherein only the interest is due monthly. And, in Holland, one can get zero or even negative rate mortgages.

This trend at most of our trading partners ... to ignore fiscal policy and rely on monetary policy for economic growth ... cannot turn out well. Even the US is now being forced to play this monetary stimulus game given that we must compete with the rest of the developed world. American 10-year interest rates have been more than halved in the last year ... yet we are still almost two percentage points above the rest of the big boys.

This pushes up the dollar as other seekers of yield flock to the US ... and a strong dollar hurts our exports ... not that weak economies elsewhere are not also a drag.

The solution: The developed world ... including China ... needs to start focusing on fiscal stimulus and productivity instead of relying on their central banks to hold their economic heads above water. If these Bernanke acolytes don’t change their ways, the world is in for some dark days.

Headlines

Federal judge orders Trump administration to reunite immigrant families

Trump has announced his plan to crack down on foreign investment -- and it's less harsh than expected

Millennial Socialist rocks Dem. Party

Spain: Students kicked out of dorms to make way for boat migrants

Bolton to meet Putin in Moscow

Weekly mortgage applications fall sharply, as home buyers drop out

Supremes  deal big setback for labor unions ...

Koreas plan to construct joint railway

America's problem isn't too little democracy, it's too much

North Korea making 'rapid' improvements in nuclear reactor despite Trump-Kim agreement

Shock poll: 44% see civil war soon in USA ...

Le Pen: EU can't be trusted on borders