The Reagan tax revolution made America ripe for globalization, but you can't explain that to a mouthbreather.
The goal wasn't globalization.
After all the dotcom malinvestment, the entry of China into the WTO opened a door to a ready, welcome, and fateful solution which became globalization, funded by oodles of low marginal ordinary income tax rates.
We need more philosophers, and fewer Rubios.
The rate cut in September 2024 was the real disaster because inflation was not licked, and yields now have simply retested their highs after some hopeful but ultimately failed signs of spending discipline around DOGE and of increased revenue from tariffs.
The failure to win in the Persian Gulf just compounded the inflation problem, restoring the status quo ante, and then some.
The Fed is the one needing the help, but it isn't going to get it from a spendthrift Congress and reckless executive branch.
Vance says Fed should lower interest rates: ‘Would be nice to have some help’
The percent increase to the foreign born population was 3.27% in January 2025, the highest on record.
That's a Trump Administration figure which it is more than happy to blame on Biden, but it came out under Trump's watch in February 2025, not under Biden.
It would be to Trump's advantage to exaggerate the problem on the front end to claim larger effects on the back end.
But it makes ABSOLUTELY NO SENSE that there would be the biggest surge of immigrants into the country ever just as their biggest enemy ever is about to take office.
Meanwhile the biggest percentage declines to foreign born population came in June 2023 and April 2024, 1.91% and 1.92% respectively, when Biden was still president.
We don't interpret that as evidence of a non-existent Biden policy which was tough on migration.
Whatever one makes of the government data, it shows that we still have 48 million foreign born in America in July 2026, same as we did in December 2023. The figure captures both legal and illegal aliens in addition to American citizens.
The question I have is why is this all coming out one day before we get the August 2026 data?
Are they expecting bad news and trying to get out ahead of it?
Trump cuts migrant population by nearly 3 million; total U.S. population likely to drop
President Trump has cut the illegal immigrant population by 2.3 million since he took office, according to a preliminary analysis of government numbers to be released Thursday.
... The drop in illegal immigrants, although significant, is lower than the Homeland Security Department’s own published figures.
In January, at the one-year mark of the Trump presidency, the department said it had removed nearly 3 million illegal immigrants from the country, including 675,000 compelled deportations and 2.2 million self-deportations. ...
Private payrolls rose by 38,000 in August, less than expected, ADP reports
... Manufacturing lost 17,000 jobs, professional and business services was off 16,000 and both the natural resources and mining as well as trade, transportation and utilities reported declines of 5,000. ...
WTI: $89
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