David Sommers
@dgsommersmkts
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Sharing data, history, independent thought on markets, gold, life, liberty. Not investment advice/marketing Retweets≠endorsements. Do your own due diligence.
Joined April 2023
Paul Volcker, October 25, 2018: "The real danger comes from encouraging or inadvertently tolerating rising inflation and its close cousin of extreme speculation and risk taking, in effect standing by while bubbles and excesses threaten financial markets. Ironically, the “easy money,” striving for a “little inflation” as a means of forestalling deflation, could, in the end, be what brings it about. "That is the basic lesson for monetary policy. It demands emphasis on price stability and prudent oversight of the financial system. Both of those requirements inexorably lead to the responsibilities of a central bank."
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Agreed -- the Senate absolutely should confirm @ElbridgeColby for the position.
Attacking @ElbridgeColby is absurd. He’s supremely qualified and has argued for a China-first defense strategy for years. He’s smart and eloquent, ready to engage. @SenateGOP should rally around him and crush another attempt to smear a nominee.
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As you know, Walter, I don't agree with this. I think Americans are for the most part overtaxed. Whatever could be taxed more probably wouldn't amount to much and wouldn't be sustainable. The spending is the problem, along with the Fed and fiat currency. I do agree that it's problematic to *cut* taxes here, while deficits are soaring. I would want to cut spending first and then taxes after that.
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Good rant.
Rant of the Day: Why the Fuk is the Fed still buying 30 year bonds for its balance sheet? I know it is part of their policy but that doesn't make it right. The weighted average maturity of the Fed's holdings of USTs on its balance sheet is longer than the Treasury's and yet the Fed says that they have no impact on long term rates. Their handling of balance sheet reduction thus far has been abysmal, broadly keeping overall financial conditions too loose to bring inflation down to their target of 2% in any reasonable period of time. We are already in year 4 of running well above 2% target and arent expected to get back to target now until end of 2026 (at the earliest). Basically we will wind up going nearly the entire period between the Fed's 5 year reviews running inflation above target. Cmon, Jerry. Stop with the Gaslighting.
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@JustinALoe Yes Justin -- I haven't read it either, but from the synopsis it certainly seems to be right on point for the issues of the day with the US and its government.
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“In these sentiments, Sir, I agree to this Constitution, with all its faults, if they are such; because I think a General Government necessary for us, and there is no form of government, but what may be a blessing to the people if well administered; and believe further, that this is likely to be well administered for a course of years, and can only end in despotism, as other forms have done before it, when the people shall become so corrupted as to need despotic government.” -- Benjamin Franklin, 1787
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RT @ggreenwald: The Secretary of Health and Human Services is a life-long Democrat and environmental lawyer, who spent his life fighting co…
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@unusual_whales Sanctions on Russia starting in 2022 have probably played a large role in pushing Russia and other countries more and more to buy gold.
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RT @GlobalMktObserv: ⚠️The US stock market has become a GAMBLING place: US daily options voluonme hit a record ~53,000 measured by its 30-…
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@menlobear Wow that looks brutal, Adam!! Maybe I will try it with a cold shower first... thanks for the recommendation.
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@WhydaInsanity24 Yes G, I agree. But I think the government is just too big, beyond issues of wasteful spending, abuse, and fraud. We simply can't afford our budget, and the government is also much bigger than what was originally philosophically/spiritually intended by our Founders.
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Important question and thread here -- I would add this skyrocketing chart of US interest expense -- this chart *might* be the first chart that really indicates when something "breaks."
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RT @JordanSchachtel: It's official. RFK Jr has been confirmed by the Senate. We finally have a change agent as our Secretary of the U.S.…
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I think that's a narrative pushed by the government to validate their inflationary policies. In real life, I don't know anybody who makes buying decisions based on whether inflation is 2%, 4%, or 6%. I certainly don't make purchases based on that. In a hyperinflationary environment, which is rare, I could see people wanting to get rid of cash, but hopefully we never see that. In any case, I don't think government should be in the business of pushing people to buy or invest. It's not the government's role.
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RT @TimmerFidelity: The Fed is still shrinking its balance sheet, however, and we have reached the point at which the Fed’s reverse repo pr…
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RT @MarcGoldwein: Inflation is re-emerging, deficits are ballooning, and interest rates are surging. Explain to me why the House wants us…
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