Cashola, Debt Levels, Margin Squeeze, Earnings Expectations, Buffett, Amazon I am going to tell you that there is no possible way that higher taxes are helpful from the market s perspective.
May 03, 2021 | 07:58 AM EDT
Electric Gypsy
About love and blues
Moves so fast, never touch the ground
High, high touch the sky
Don t come down, don t make me try
Lost in space or any other place
Living my dream on the moving train
-Lewis, Riley, Guns (LA Guns) 1988
Exhale
Slow motion. The breath leaves the body. Out with the old. Equity markets largely gave back a bit of ground on Friday, and on rather large trading volume at that. We did see that coming. We warned ourselves as we had warned each other that that last day of the month could be, or would be, atypical. Is it, or was it really atypical though? Or was this negative action more premonitory?
hit with so much regulation we need to save our money. those companies are paralyzed again. they don t know what is in store for the trade war so they re not investing. what does that do to us? it obviously slows down the economy. it puts manufacturing into recession, which is where it is. and the big problem with the trump administration is that it s going in two very different directions. you have the supply siders like larry kudlow who said let s slash corporate tax rates, get regulation down, we ll get an economic boom. you can argue about the impact on the deficit and whether supply side tax cuts ultimately work but they definitely don t work if at the same time you have a completely chaotic trade war with no strategy, no end game in sight, and you leave businesses having no clue what their supply chains are going to look like, no clue how china is going to retaliate. you can t do both of those at the same time and expect a fast growing economy. that s why we don t have that. we
though. he had no idea what i was talking about, clearly. so i broke the story that night that the budget director blew the whistle on this plan. what he still contends were off the record conversations, stockman expressed disillusion. stockman refers to naive supply siders. the whole reagan plan is premised on faith. none of us understands what s going on with all these numbers. it was very, very damaging. a lot of people wanted him fired, but i thought we had to keep him because he knew more about the budget than anybody. so i prevailed upon the president to not fire him. we have faith in our program and we re sticking with it. to the paid political complainers, let me say as politely as i can, put up or shut up. president reagan standing in the nbc/ap poll has gone from a high of 65% approval after he was shot to a low of 43% last fall. that s a bit lower than any previous president at that stage of his stay in the white house. we lost big in the 1982 midterms. and every
program is wrong. it creates inflationary he had no idea what i was talking about, clearly. so i broke the story that night that the budget director blew the whistle on this plan. what he still contends were off the record conversations, stockman expressed disillusion. stockman refers to naive supply siders. the whole reagan plan is premised on faith. none of us understands what s going on with all these numbers. it was very, very damaging. a lot of people wanted him fired, but i thought we had to keep him because he knew more about the budget than anybody. so i prevailed upon the president to not fire him. we have faith in our program and we re sticking with it. the paid political complainers, let me say as politely as i can, put up or shut up. president reagan standing in
if you are going to have the tariff policy, aim it at the countries enemies like china and russia. and that s pretty much where donald trump has ended up. robert? what worries me about larry kudlow, honestly, is he s a supply cider beyond even the normal range of reasonable supply siders. larry has not seen a tax he doesn t want to cut. and tax cut predicts a windfall. he has predicted over the past 25 years. you and i know, on his show and debated this, always me against the two of you. and he s always been wrong. wait a minute. and wants to cut taxes. wait a minute. we are out of time. i d like to say i hope larry will come on guys. i m having dinner tonight with larry. i m going to tell him you both said hello. i hope you tell him to come on, to come on and answer all these questions.