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Links for 2016-12-10 [del.icio.us]
Sunday, December 11, 2016 1:14
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- On the Consumer Financial Protection Bureau
Defending a limited role of the consumer financial protection bureau. - Dakota Pipeline Protests Putting More Crude on Trains – The American Interest
Just as the Keystone XL pipeline hasn’t actually done anything to stop or slow oil production in Canada’s oil sands (in fact, that output is expected to increase 42 percent by 2025), the Obama administration’s rejection of the Dakota Access pipeline won’t keep the crude in the ground in North Dakota’s prolific Bakken shale formation. Instead, as Reuters reports, we’re going to see more of that oil riding our nation’s railways in the coming years than we might have hoped - Want to Rev Up the Economy? Don’t Worry About the Trade Deficit – The New York Times
From this perspective, many of the policies proposed by Mr. Trump will increase the trade deficit rather than reduce it. He has proposed scaling back both burdensome business regulations and taxes on corporate and other business income. His tax cuts and infrastructure spending will most likely increase the government’s budget deficit, which tends to increase interest rates. These changes should attract even more international capital into the United States, leading to an even stronger dollar and larger trade deficits. We have already started to see some of these forces at work. In the 10 days after Mr. Trump’s victory, the interest rate on 10-year Treasury bonds increased by 46 basis points (0.46 of a percentage point). The dollar appreciated by about 4 percent against a broad basket of currencies to its highest level since 2002.
Source: http://del.icio.us/HispanicPundit#2016-12-10
