about fake news this is about the results of bad monetary policy about a month of policy reportedly directed by president heir to one of the last failure to act for you to act so does everyone does he have any credibility right now in the eyes of currency traders in bond traders well it seems like the more he rants the more the rest of credibility that is there dwindles is really i mean this is a man you mention. that used it can all make and monetary policy to back his own political agenda and we have to say that president and i won he was initially investors darling i mean. he restructured the turkish financial. sector he was able to lower the unemployment rate and there were stunning growth rates that supported his political agenda his presidency and he used this spring of obviously for his first political purpose but then as i mentioned failed tact as
up on the bond markets well the spread between the italian and the german government bonds is narrowing a little bit you know the spread is also an indicator for the jitters on the bond markets but i would say that bond traders remain on high alert also because we have an auction coming up of new italian government bonds of course everyone is. considering this major topic something that s difficult to predict the outcome is on everyone s minds ok and you will keep an eye on that one for sure for us on the glistening front for thank you so much. well greece s third and final bailout comes to an end in organists business part of the multi-billion euro package creditors are demanding new austerity measures including wage cuts and higher taxes weak workers though they ve had enough unions have called for a twenty four hour strike train plane and bury services are expected to have
if they re already rich, they don t need more money. we got the 20 trillion in debt with high taxes, it s about time we got 20 trillion in debt with higher taxes and ridiculous regulations. it s about time we change the trajectory at this point in time and put it back in our hands. here is what i agree i wish it to be done, but can t. here is where you ve got to agree with ben. we can t do everything he wants. yes, i hate to say it, a bunch of bond traders do control the economy. if bond yields spike dramatically we re going to snuff out any recovery, it s not going to be worth it. i don t think so. i think there can be a lot of economic growth that comes about because of lower taxes. my point earlier is that donald trump wants these tax cuts, he s pushing for them. he s getting pushed back from republicans and that s what s going on. he s trying to use the bully pulpit. he s getting pushed back? he is. there won t be a border adjustment.
bidding who voted on november 8th. do you remember what bob ruben told bill clinton when he wanted to raise taxes. if you raise taxes and don t apply to the deficit, the bond market will go nuts and interest rates spike. and bill clinton said do a bunch of bond traders control the economy? they do. it s ruben the old treasury secretary. if trump does everything, yields are going to spike and hurt the economy. i don t know that the viewers care about bond traders. what about interest rates when they can t borrow? we have to decide who are the drivers of this country, and the economy. it is not these people in d.c., it is the everyday worker, it is the businesses out there that work their tail off. it s about time who doe manned their entitlements. and entitlements are government programs and we have
this is a good thing. i think he should be happy with what janet yellin said. she basically said we might have to raise rates. i don t necessarily believe he will inflate the economy that much she said we have so much uncertainty. she is casting all kinds of i heard the she was, here is her thing. you re miss interpreting it. his biggest problem is bond traders. he was told that bond traders control the world and control said a bunch of f-ing guys on washington will determine it? and they said yes. the next man is not inflationary. i wish i could disagree with