Trump is right to link national debt to assets

Former White House strategist Steve Bannon takes part in an interview with host Sean Hannity on the set of Fox News Channel's “Hannity” in New York on Monday. AP

Not even Sean Hannity could hide the signs that Trump is mentally not all there as the President didn't know what the national debt is, and thinks the stock market is an asset to pay off the debt. He went on, "As you know, the last eight years, [the federal government] borrowed more than it did in the whole history of our country. And we're very, very happy". "So they borrowed more than $10 trillion, right?"

"I'm so proud of the $5.2 trillion dollars of increase in the stock market", Trump said, referring to the bull market that began as the economy pulled out of the Great Recession during the months after President Obama took office.

Issue Subscribed 65% So Far On Day 3
The GIC Re IPO, which aims to raise Rs11,370 crore, closes on 13 October. It has fixed the price band of Rs 1,645- 1,650 per share for the issue.

"In no sense does the stock market rally wipe out the national debt", said Romans. "So, you could say in one sense we are really increasing values, and maybe in a sense we are reducing debt". As CNBC details, to see why this doesn't make sense, consider the relationship (or lack thereof) between the stock market and debt during the Obama administration. "But we're very honored by it", Trump said. If the US funds expansions of education or infrastructure that allows for better and more economic activity, then it's money not just well spent, but as Trump would say, in a sense reducing debt. While the stock market is in the midst of a historic-but not at all unprecedented!-run, which the president regularly brags about on Twitter, it has. No, a far more appropriate measurement would be to compare the national debt to the size of the national economy.

"The stock market's gains have virtually nothing to do with the size of the national debt, which continues to rise because government spending far exceeds government receipts", political economist Greg Valliere told CNNMoney.

Death toll in California wildfire rises to 21
Pimlott said pilots couldn't see what was beyond their windows, much less what was on the ground. But one official after another spoke of the long road ahead in nearly apocalyptic terms.

The question of whether the USA has too much, too little or just enough debt is for another day.

The national debt, which sits at $20 trillion and counting, is the debt owed by the federal government. But from his point of view, the U.S.is just a few good quarters away from accomplishing that goal ahead of schedule.

Romania's annual inflation rate reaches highest level in four years
Economists surveyed by Reuters had forecast 2.4% growth in output compared with a revised 0.9% year-on-year increase in July. A Reuters poll showed that economists expected consumer inflation to rise to 3.60 per cent in September.

Related News:

  • CMA details scope of Fox-Sky investigation in issues statement

    CMA details scope of Fox-Sky investigation in issues statement

    Earlier, Sky reported what were regarded by City analysts as strong results for the first three months of its financial year. Mr Murdoch is chief executive of Fox, which is attempting to seize control of the 61% of Sky it does not already own.

    Dwarf planet Haumea has its own ring system

    Haumea's ring has a radius of almost 1,500 miles, the team discovered, and it moves very slowly in contrast with its host planet. There's a potato-shaped dwarf planet in our solar system , and scientists have just discovered that it's got its very own ring.
    United States  pulls out of UNESCO, alleges anti-Israel bias

    United States pulls out of UNESCO, alleges anti-Israel bias

    The Trump administration has been preparing for a likely withdrawal for months, and a decision was expected before the end of the year, according to U.S. officials.
  • Bitcoin just passed $5000

    But after dipping below US$3000 in mid-September, bitcoin has leapt in value by more than 75 per cent in four weeks. Its gradual price rise over the years has also made it a favorite among cryptocurrency speculators.
    Pelosi rips Trump's 'heartbreaking' warning to Puerto Rico

    Pelosi rips Trump's 'heartbreaking' warning to Puerto Rico

    House Speaker Paul Ryan will lead a bipartisan delegation visiting Puerto Rico on Friday, according to the speaker's office. In addition to the federal effort, 22 states have responded to calls for aid in Puerto Rico.
    Apple Reportedly Working With LG Display on a Foldable iPhone for 2020

    Apple Reportedly Working With LG Display on a Foldable iPhone for 2020

    The news comes after a patent was filed by Apple in February this year , describing a folding smartphone with a fabric cover. So that means Samsung is charging as high as it wants to produce those screens, and Apple has no choice but to pay up.
  • Ex Boyfriend is Arrested in Murdered of University of Pittsburgh Student

    Ex Boyfriend is Arrested in Murdered of University of Pittsburgh Student

    Darby can be found in reconnaissance film from close to the wrongdoing scene around the season of Sheykhet's slaughtering. About 10 minutes later, Darby returned and asked the driver to wait for another 10 minutes, according to the complaint.
    Hyperloop One Is Proud to Announce Its Virginity

    Hyperloop One Is Proud to Announce Its Virginity

    Hyperloop One, the Los Angeles-based startup working on an ultrafast tube transportation system, is no more. This is just the latest example.

    Fans call for McDonald's 'boycott' following Szechuan sauce snafu

    According to Richard Adams , a former McDonald's franchisee, "There were some stores that just had 20 packets". But instead of slathering the sauce on a Big Mac or fries, Marie kept hers to see what she could get for it.
  • Cliffs Natural Resources Inc. (CLF) — Trending Stock Alert

    Highland Capital Mgmt Limited Partnership invested 0% of its portfolio in MediciNova, Inc. (NASDAQ:MNOV) or 467,451 shares. Wall Street analysts covering the stock are projecting that the stock will reach $6.86 within the next 52-weeks.
    Airtel to Buy Tata Teleservices' Consumer Mobile Business

    Airtel to Buy Tata Teleservices' Consumer Mobile Business

    In some other group companies , such as Tata Power , selling off troubled assets has been identified as a way to pare back debt. According to various media reports , outright divestments or mergers of some small Tata group companies are also in the offing.
    Apple's $1 billion data centre gets Irish High Court green light

    Apple's $1 billion data centre gets Irish High Court green light

    Apple intends to use the data centre to store European user data from services such as iMessage, iTunes and the App store. Apple managed to get the case fast-tracked through Ireland's Commercial Court after it filed a request last November .


Most liked

Canadian National Railway Company (CNR) Given Average Rating of "Buy" by Brokerages
Brown Brothers Harriman & Co decreased Dentsply Sirona Inc stake by 78,930 shares to 2.09M valued at $135.39M in 2017Q2. Shares of Canadian National Railway ( TSE:CNR ) traded down 0.02% during mid-day trading on Wednesday, hitting $100.96.

Kashmir: Soldiers, LeT militants killed in Bandipora encounter
One among the militant killed is a Pakistani named Ali alias Abu Maaz, and the other, a local militant Nasrullah Mir. Local sources said that all the shops and business establishments are shut while traffic is also off the roads.

Cisco Systems, Inc. (CSCO)- Outshines Stocks with Rosy Performance Scores
The value of the investment in Cisco Systems, Inc. went from $6,398,000 to $53,205,000 a change of 5.8% for the reporting period. According to this scale, a rating of 1 or 2 would indicate a Buy, and a rating of 4 or 5 would signify a Sell recommendation.

Why Investors Aren't Hungry for Domino's Earnings
This repurchase authorization allows the restaurant operator to buy up to 13.5% of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

CM Kejriwal's Blue Wagon R vehicle stolen from right outside Delhi Secretariat
AAP chief Kejriwal used to travel in his Blue WagonR auto before and after becoming the state chief minister for the first time. He added, "The investigation has just started and we will be able to get more details in the further course of time".

European Union says Brexit talks 'deadlocked' but progress possible
Mindful that the clock is ticking, Barnier reaffirmed that parting with "no deal will be a very bad deal". Around one third of the negotiating time has already elapsed.

Southwest Airlines Announces Intention To Serve Hawaii
However, the ETOPS certified 737-800 airplanes will initially fly the routes so that the launch date can be accelerated. Southwest says its capacity plans for 2018 remain unchanged with the Hawaii announcement.

Samsung Releases Star Wars Edition Styled Robot Vacuum Cleaner
They are available for pre-order from Samsung's website today and will be released on November 5th. A sensor ensures that the robot vacuum will clean around personal items as small as 10 mm.

Woman, 100, Tied in Deadly Home Invasion Escapes, Calls Cops
A 91-year-old man died after he and his 99-year-old wife were tied up in a home invasion in Brooklyn on Wednesday, police said. They performed CPR, but it was too late; he was pronounced dead at a local hospital. "When I saw that, 'Oh my God, '" she said.

Russian antivirus was used to obtain classified information
In antivirus "Kaspersky Lab" was spelled out an in depth scan documents on the computers to search for classified information. It said it was anxious that the Russian government had possibly compromised the firm.

Kinzinger: Trump 'Doing All the Right Things' on North Korea
The Russian delegation said they were also presented with calculations showing the missile would be able to reach the US mainland. In recent weeks, North Korea has launched two missiles over Japan and conducted its sixth nuclear test, all in defiance of U.N.

Talwars acquitted by HC in murders of daughter Aarushi, help
The police was accused by many for not doing their investigation properly and they were even accused of tempering the evidences . Nupur and Rajesh Talwar have been in Ghaziabad's Dasna jail for the last four years.

Princess Nokia Pours Hot Soup On Subway Racist
If what happened wasn't enough, the man in the video actually shared Facebook posts to help identify himself . Princess Nokia said on Wednesday she was the woman that threw the soup at a subway racist.

First Warning Forecast: More Rain On The Way
Before the front arrived in San Angelo Monday afternoon, the airport there tied the record high for the date of 97. A cold front will work closer to the Commonwealth today while sparking off scattered showers and thunderstorms.

Matt Damon denies 'killing' 2004 article about Harvey Weinstein allegations
Damon added: "I'm sure I mentioned to her that I didn't know anything about the rest of her piece, because I didn't". Weinstein is now facing a number of allegations involving sexual harassment and assault.