Bessent vs Warren inflation fight leads Markets chatter; SpaceX telecom selloff follows

Another day, another Econ 101 lesson for Professor Warren. Her “Trumpflation” tracker conveniently ignores the Bidenflation tidal wave that crushed American families, cherry-picks wage growth by refusing to acknowledge positive real wage gains since President Trump came into office, and swaps official medical-care CPI data for premium projections when it suits her narrative. The Harvard Square inflationista is offering a statistical sleight of hand, not a serious assessment of today’s U.S. economy. Here is the full picture, including an apples-to-apples comparison of President Trump’s real economic results measured against the failed policies Senator Warren championed under Biden.

BREAKING: AT&T, Verizon, & T-Mobile stocks continue to plunge following SpaceX’s announcement of plans to turn Starlink into a major U.S. mobile carrier.

CBC’s Marketplace has delivered another hack job on food inflation. In my view, it is one of the worst shows on television right now. This week’s segment featured two economists whose opinions fit the program’s narrative, without presenting the data, peer-reviewed research or modelling needed to substantiate their claims. Years ago, when I was pre-interviewed for the show, I felt they were fishing for one or two specific sound bites to convince Canadians that ALL businesses are greedy and utterly unethical. A balanced discussion did not seem to be the objective. This week’s coverage left me with the same impression. Expert commentary should be challenged and supported by evidence, especially on a taxpayer-funded program. Instead, CBC's Marketplace too often presents opinions as conclusions and leaves viewers with an incomplete understanding of complex issues. I no longer respond to their interview requests. Canadians deserve rigorous journalism, transparent evidence and a fair discussion. I find this kind of coverage disgusting.

JUST IN: Nasdaq CEO says tokenization could unlock tens of billions of dollars across the global financial system.

JUST IN: 🇰🇷 South Korea's KOSPI stock market crashes 6%. https://t.co/mOzEi9C24R

BREAKING: 🇮🇳 Indian stock market adds ₹18 lakh crore Today Biggest single-day gain in at least 5 years https://t.co/zbCyw6y4Ag

JUST IN: Telecom stocks plunge across Australia & New Zealand as SpaceX unveils plans to build the world's most advanced satellite-powered mobile network.

Immediately after 9/11, as the stock market swooned, Wall Street and corporate America issued stock options to their own execs. Virtually no one knows about this story but it's perhaps the most evil display of malevolent greed in modern U.S. history. https://t.co/KKOaTgb1Py https://t.co/qFYPMljuhc

Has everyone forgotten about “high interest rates?” Why might they actually be a part of the PLAN? I have said for years now, that Trump took down the Federal Reserve in his first term, using the Covid emergency as the excuse. Trump rolled the Federal Reserve under the authority of the Treasury. Link: https://t.co/GhCwOYJmBk The Treasury Secretary is now controlling ALL the levers of “power” over the world’s financial system. Scott Bessent is able to track all the dollars, shut down all the illegal money streams and even exclude banks and countries from the world’s financial system. The central banking system is ALREADY dead. The whole world focuses on Bessent’s every move and the new FED chairman is just an afterthought. The only thing Trump’s newly appointed FED chairman is controlling is interest rates. But is he controlling interest rates, or is he taking orders? Several people commented that Trump wasn’t in control of the FED because Warsh did the opposite of what he’s consistently demanded for years. Trump “publicly” says that he wants the FED to lower rates and so does Bessent. Warsh raised them instead. Just OPTICS? Is this “proof” Trump doesn’t control the FED? Or is it “proof” that Trump actually does control the FED? Always ask the right questions. Why would Trump and Bessent actually want “higher interest rates” at this moment in time? What advantage would it be for Trump, to have higher interest rates stay temporarily elevated? Why would Trump and Bessent want a really strong dollar and U.S. Treasury? Who holds the world’s reserve currency? High interest rates strengthen the dollar and U.S. Treasuries against ALL foreign currencies. How do you “transition” the world from a central bank “fiat” system into a blockchain stablecoin system with sovereign currencies backed by “assets?” There are three “structural reasons,” high rates become a “requirement” rather than just an advantage. 1) Controlled “migration” into the new system PREVENTS bank runs and financial chaos. The GENIUS Act prohibits issuers from paying yield to holders, the stablecoin is a zero-yield instrument. One dollar equals one stablecoin. No interest attached. This is critical. High interest rates keep the “old system” funded long enough for the “new one” to MATURE AND GROW. If rates were low, there would be no reason for anyone to keep their money in banks — the “migration would accelerate” faster than the infrastructure could absorb it. It would cause “bank runs.” Trump and Bessent are preventing it. 2) Banks are allowed to “compete.” Competition is what destroys monopolies and centralization of our financial system. Trump isn’t trying to destroy the banking system, he’s trying to make it work for the benefit of the American people again. A Dallas Fed analysis confirms this: "Deposit rates increased substantially as the Fed raised interest rate in 2022." If the Fed rate were near zero, banks couldn't offer competitive deposit yields to stem outflows. Low rates would “trigger” another run on banks. Trump and Bessent are creating healthy competition. 3) High interest rates are actually “funding” the building of the new stablecoin system. How? The companies who issue stablecoins (not holding them) earn the Treasury spread on reserves. High rates equate to a spread in billions annually. Without “profits” from that Treasury spread, the stablecoin issuers couldn’t “build” the new blockchain system. It cannot be built, staffed, and globalized without that revenue stream. High interest rates are literally the “construction loan” for the “architecture” of the coming new worldwide financial system. Now here’s the important part: We NEED high rates to keep the old system alive, to fund the new system's construction, and to control the pace of migration — but the new system's success “kills” the high-rate environment that made it possible. It’s a phase-in transition with a built-in deadline. The new system phases out the old system.

We’ve had a booming stock market for the last 10 years. I’d hate to see that come to an end. Market forecasters say a Democrat victory in the House and Senate could reduce stock market value by as much as $2 trillion. Voters should keep that in mind. https://t.co/C1DSDBVlQQ

Q3 earnings season officially kicks off next week. https://t.co/8pAP2noT8C

A $100,000 salary in 2000 would need to nearly double to $194,530 in 2026 to maintain the same purchasing power, based on CPI inflation.

Real Estate Stocks now underperforming the S&P 500 by the largest margin in history 📉 📉 https://t.co/6EleuW1LK6

BREAKING: 🇺🇸 Telecom stocks crash (post-market) as SpaceX announces to buy spectrum licenses and sell mobile internet connectivity directly to users. AT&T: - 8.7% T Mobile: -7.8% Verizon: -7.3% https://t.co/xjVQdCdOUy