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Showing posts from June, 2019

Democratic Poll Finds Good Numbers for North Carolina GOP

Public Policy Polling, a Democratic Party-affiliated firm, found good news for President Donald Trump in North Carolina. They observe that the president has an average lead of 0.2% over his Democratic opponents in the Old North State.

In individual races, the numbers vary slightly, PPP finds that Trump leads most of the time: "The two Democrats with leads over Trump are the best known -- Joe Biden is up 49-46 on him and Bernie Sanders is up 48-47. Trump narrowly leads the lesser known Democrats -- it's a 47-46 edge over Kamala Harris, a 48-46 one over Elizabeth Warren, and a 47-44 one over Pete Buttigieg."

While potential nominees Biden and Sanders ostensibly lead, their support in the state has been slipping. For example, in PPP's previous survey, Biden led by five. He is down to three points, squarely within the poll's 4% margin of error.

PPP also observed a sharp increase in support for Republican gubernatorial candidate Dan Forest, currently the Tar Heel Stat…

Editorial: Federal Reserve is Certifiably Insane

The Federal Reserve System raised the federal funds rate, which determines U.S. interest rates, from .5-.75% all the way to 2.25-2.50% following the inauguration of President Donald Trump. As we noted in our flagship editorial on monetary policy, these hikes sprouted from the Fed's over-reliance on Phillips curve, which led them to intentionally dampen economic growth. They did their job so well that it was to a fault:

Between the September 27, 2018 rate hike and the aftermath of the December 20, 2018 increase, the Dow Jones industrial average shed a total of 4,648 points.

Meanwhile, the yield on the 10-year U.S. Treasury bond plunged from 3.06% (September 27th) to 2.74% (December 24th) while the 1-month yield surged from 2.1% to 2.42%. The indication is that as the Fed continuously hiked their rates, investors became more and more frightened: The Treasury had to pay more to service short-term debt because creditors, unsure about short-term economic conditions, flocked to long-ter…