No Tax Bill This Year---The GOP Can't Handle The Fiscal Truth!

If you don't think the casino is dangerously unhinged, just consider this morning's eruption in the futures market at about 5AM. That's the exact time the Financial Times (FT) released an exclusive interview with Gary Cohn, who averred that tax reform will be a done deal by year-end.

You have to hand it to the Donald. He speaks his mind, and so doing dropped an unwelcome verbal stink bomb on Capitol Hill during his Phoenix rant Tuesday night. If Mexico wont pay for my wall, he seemed to say, than Congress will----even if I have to shutdown the Imperial City to extract the first $1.6 billion of seed money...

Here is the curse that nine years of fantastic money pumping and financial asset price falsification by the Fed and its fellow traveling central banks have wrought. What we have is stock market indices that have become utterly decoupled from the baleful condition of the real economy and a robotic buy-the-dips trading juggernaut that has become a clear and present danger to financial stability.

As the Donald himself might have put it: PITIFUL! We are speaking of his horrid lip-synching effort last night to keep time with the voice of his ventriloquist generals.

We aren't shedding many tears over Steve Bannon's departure. His ethno-nationalist and protectionist worldview are anathema to true notions of liberty, free markets and a minimalist state.