TRUMP'S IRAN WAR A DISTRACTION FROM HIS ECONOMIC DESTRUCTION!
MeidasTouch
Max from UNFTR reports on the continued decline of U.S. economic data with a number of releases this week already painting an ugly picture in retail, manufacturing and housing. All of this is ahead of the Fed remarks and while Trump abandons the G7 to tend to the escalating war between Israel and Iran. Whenever military trouble brews, news of the real economy takes a backseat to the ‘attention economy’ and it’s no wonder Trump wants to hide from it. Against the backdrop of declining U.S. economic data, the GOP Senate finance committee released its version of the Big Beautiful Bill, which is setting the stage for more GOP infighting with the fractured House. The Senate Republicans take a sledgehammer to Medicaid to preserve tax cuts for the wealthy. This episode also reveals a burgeoning liquidity crisis in the U.S. debt market as investors flee U.S. assets in search of safe havens in foreign markets.
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