The key driver for valuing Treasury bonds at the moment is the utility they offer as a form of collateral among banks loaning money to each other. So with Europe’s debt markets in even greater turmoil now than when Greece’s debt got a “haircut” last year, T-Bond prices are zooming up once again to the top of the 3-decade rising trend channel. http://www.ritholtz.com/blog/
Read he whole article link below,,,,
to bring light to the ultimate problem, that 0% is untenable when USGovt deficits are $1.5 trillion
each year (higher tower) as the USTreasury Bond creditors have abandoned them, sickened by unilateral central bank decisions
to monetize debt and hand out lavish grants to bankers... the USTBond market is held together by the hidden Interest Rate Swap
contracts managed by JPMorgan Chase, which secretively applies grand 50:1 leverage, in addition to the USFed, which is the only
remaining reliable buyer in a display of pure hyper monetary inflation... the unstable tower is reacting badly to high winds from the
European sovereign debt crisis but also to the stupid attempt to talk through an Exit Strategy... recent JPMorgue losses will total far
more than the $3 to $5 admitted to date, since a chain reaction has been triggered deep within the system that cannot be stopped,
and will continue until the USTBond market asset bubble is broken and the USDollar trade vehicle is abandoned on the road side...
the pure fuel of negative interest rates continues to power the Gold Bull market, which will continue to benefit from the permanent
0% official rate... the USFed is stuck at 0% forever, tragically, and they know it... the Gold price will skyrocket when the full
extent of JPMorgue damage is properly estimated and comprehended... their losses will be in the hundreds of $billions by next year
The 62 agencies and programs Trump wants to eliminate
"[i]Starve the Beast, birth Reagan late '70's"
Gregory Korte, USA TODAY Published 12:04 a.m. ET March 16, 2017 | Updated 4:22 p.m. ET March 17, 2017
VIDEO
President Trump's proposed budget will slash funding for a number of popular federal programs and agencies. USA TODAY White House performance
Corrections & clarifications: A previous version of this story referred incorrectly to a Fish and Wildlife Service program proposed for elimination in President Trump’s budget submission. The Department of the Interior says it is the National Wildlife Refuge fund, a $13.2 million revenue-sharing arrangement with local governments.
WASHINGTON — President Trump's proposed budget takes a cleaver to domestic programs, with many agencies taking percentage spending cuts in the double digits.
But for dozens of smaller agencies and programs, the cut is 100%.
Community development block grants. The Weatherization Assistance Program. The Low-Income Home Energy Assistance Program. The National Endowment for the Arts. The Corporation for Public Broadcasting. All would be axed if Congress adopts Trump's budget.
Also proposed for elimination are lesser-known bureaucracies like the McGovern-Dole International Food for Education Program, the Endocrine Disruptor Screening Program and the Inter-American Foundation.
Many of those programs have constituencies in states and cities across the country — and their champions in Congress. "The president's beholden to nobody but the people who elected him, and yes, I understand that every lawmaker over there has pet projects," said Trump budget director Mick Mulvaney. "That's the nature of the beast."
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