The OBBBA of 2025 would repeat the same trick used in the TCJA of 2017 by keeping the projected upward impact on the deficit limited through sunsets that are very likely to cause extensions of deficit-increasing measures when the fiscal cliffs comes in sight...

Not even surviving spouses would be spared

...with 'hard' data diving, the Services surveys (while both above 50) were mixed.

The European Central Bank has reached the end of its rate cycle - and has become ensnared in the very problems to which it has significantly contributed. In Sintra, this was all but hidden behind a facade of central banker utopia.

And there was more good news: while total job openings surged to the highest since late 2024, the number of Federal government workers tumbled to the lowest since covid. 

"...at least some of this improvement has been driven by inventory building..."

Where are the high prices and empty shelves we were warned about...?

In the past month Disney has released an animated movie about communist aliens and a show about a black, female ghetto version of Iron Man...

Everywhere around us, chaos is erupting...

Substituting debt for earnings while enriching the rich will bear bitter fruit...

Black workers with criminal records filed a class action lawsuit, claiming the firings are "discriminatory"...

Mexican bank transfers to Chinese companies are 'not money-laundering'...

The tariff front-running is over...

all driven by non-defense aircraft orders... which rose 230% MoM..

Not great, not terrible. 

Buick, Hyundai, and Kia will see the largest price impacts from U.S. tariffs...

“I hope Congress really works this very dumb, hardheaded person, over. We will be paying for his incompetence for many years to come.”

Key economic data releases this week are the durable goods and advance goods trade balance reports on Thursday and the core PCE inflation report on Friday. There are many speaking engagements by Fed officials this week, including Chair Powell's semiannual

...prices rose sharply in the services and goods sector.

The Fed stubbornly refuses to lower its target rate, because it has decided that Mr. Trump’s tariffs will increase inflation...