Chris Temple from The National Investor – Thu 16 Mar, 2017

Hey Trump where’s the infrastructure spending?

Chris Temple and I reassess the investing climate now the the Fed has reiterated that they are happy to go slow and be behind the curve. We also look at recent budget put forth by President Trump and ask what happened to the infrastructure spending…

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  1. On March 16, 2017 at 9:57 am,
    CFS says:

    I, for one, would rather have no spending, period, than wasted spending and getting nothing for it.
    I think of TARP and similar programs….

  2. On March 16, 2017 at 9:59 am,
    Silverdollar says:

    “Hey, who would’ve guessed this presidency stuff was so complicated”? Dept. of Offense gets another 54B and it will land in all 50 states, keeping the military effect positive for employment throughout the country, especially CA, WA, TX, FL, GA to name a few. Trump understands nothing of the budgeting process and likely isn’t doing anything but delegating to a chosen few. I’ve always said I believe he was more surprised the night of the election than Clinton. He’ll be playing catch-up for a couple years at least.
    Chris: Thanks for running the scoreboard. Enjoy your comments and how you tell the real story………..

    • On March 16, 2017 at 4:07 pm,
      Temple says:

      I call them like I see them 🙂

  3. On March 16, 2017 at 10:04 am,
    CFS says:

    I seem to remember it was the Dept. of Transportation that approved the “Bridge to Nowhere”.

    You don’t think the military was decimated under the Big Zero, silverdollar?

    • On March 16, 2017 at 10:26 am,
      Silverdollar says:

      Decimated? Hardly. We still spend about 10-12 times as much as our nearest competitor. F35 has consumed a couple trillion. Still doesn’t work. Nine or ten naval task forces with outmoded carriers (coffins) that won’t survive the first swarm that they encounter.

      • On March 16, 2017 at 10:40 am,
        Matthew says:


      • On March 16, 2017 at 11:41 am,
        Gator says: need to get up to speed on the military news…and facts…

        • On March 16, 2017 at 8:54 pm,
          Robert Moriarty says:


          SD gets it. I flew fighters and I do happen to understand current military news. The F-35 is a total piece of overpriced crap and if a war started while I was on a carrier, I’d jump over the side and swim to shore. We have lost every war since WW II and can’t build a military weapon that works.

          If you walk into a bar and start a fight and are still fighting 16 years later, you lost and your only friend would be the guy to tell you.

          • On March 17, 2017 at 12:47 pm,
            Silverdollar says:

            Hey Bob: Think you were in Danang. Spent some time there in civilian construction with RMKBRJ. Later, spent time in the highlands with the 1st Air Cav. You ever visit DogPatch? Hee, Hee.

    • On March 16, 2017 at 1:56 pm,
      OOTB Jerry says:

      a good one…….is the new train in Florida…..which cost more to print the tickets for the ride , than the revenue it brings in……… Under the Obama Adm.

      • On March 16, 2017 at 9:12 pm,
        Gator says:

        OOTB…it just may have cost Mica the election..he was behind the train and helped push it through…

        • On March 17, 2017 at 7:24 am,
          OOTB Jerry says:

          Gator……hope all is well…… hang in there…. J

        • On March 17, 2017 at 7:39 am,
          OOTB Jerry says:

          To bad he lost his seat……the area is changing in South Florida….the school system is really in bad shape….Obama and J Bush..have screwed up the area with the illegals, it is going to play havoc on the school system and real estate taxes…jmho

  4. On March 16, 2017 at 10:15 am,
    CFS says:

    I hope Trump is working on a new version of Glass-Steagall, but I guess he probably is not.

  5. On March 16, 2017 at 10:23 am,
    Matthew says:

    Establishment Marxists are as comical as they are slimy. Tell the truth and Harvard will label you fake news.

  6. On March 16, 2017 at 10:29 am,
    CFS says:

    Now for something completely different:

  7. On March 16, 2017 at 10:30 am,
    Chartster says:

    Trumponomics kool-aid…??
    Maybe you don’t understand the repeal of the Dodd-Frank act.
    Maybe you don’t understand getting out of TTP and NAFTA.
    Maybe you don’t understand the EO restructuring the executive branch.
    BTW, the infrastructure plan does not have to be in the budget. The government will not pay for infrastructure. And the projects are ready to go…!! FACT

    • On March 16, 2017 at 10:45 am,
      Matthew says:

      Trump is another unprincipled big government guy who either does not understand economics or is trying to create bigger problems with his protectionism.

      But he does beat the hell out of Hillary.


      • On March 16, 2017 at 10:50 am,
        Matthew says:

        Btw, real free trade does not come with arangements like the TPP or NAFTA. Both exist to serve cronies at the expense of everyone else — like politics in general.

      • On March 16, 2017 at 11:43 am,
        Gator says: are just plain wrong on your first statement but dead on with the second..

        • On March 16, 2017 at 12:03 pm,
          Matthew says:

          Gator, you probably think Reagan’s policies were economically sound and principled as well.

          • On March 16, 2017 at 12:54 pm,
            Gator says:

            Somw were and some weren’t…he had to deal with Congress too so don’t put it all on Reagan…

          • On March 16, 2017 at 1:08 pm,
            Matthew says:

            When all was said and done, his administration presided over policies that were the exact opposite of his rhetoric. He voted for FDR four times and boy did it show.

            He was nothing but a big government lefty from a fiscal standpoint but his legacy is fine because the masses don’t know anything about economics OR history.

  8. On March 16, 2017 at 10:53 am,
    David says:

    For Cory or Al:

    Theralase put out a press release on Mar 15. Nothing about enrollments other than they are seeking patients.

  9. On March 16, 2017 at 10:53 am,
    Chartster says:

    Trump is bringing the US back to a republic.

    I’ve said before, and I’ll say it again. Trump exposes, Everyone!😉

    • On March 16, 2017 at 3:29 pm,
      David says:

      He is enacting a one man death panel

  10. On March 16, 2017 at 10:57 am,
    CFS says:

    Trump’s Budget: Build Up Military, Build The Wall
    WASHINGTON (AP) — President Donald Trump unveiled a $1.15 trillion budget Thursday, proposing a far-reaching overhaul of federal spending that would slash many domestic programs to finance a big increase for the military and make a down payment on a U.S.-Mexico border wall.

    Trump’s plan seeks to upend Washington with cuts to long-promised campaign targets like foreign aid and the Environmental Protection Agency as well as strong congressional favorites such as medical research, help for homeless veterans and community development grants.

    “A budget that puts America first must make the safety of our people its number one priority — because without safety, there can be no prosperity,” Trump said in a message accompanying his proposed budget that was titled “America First: A Budget Blueprint to Make America Great Again.”

    The $54 billion boost for the military is the largest since President Ronald Reagan’s Pentagon buildup in the 1980s, promising immediate money for troop readiness, the fight against Islamic State militants and procurement of new ships, fighter jets and other weapons. The 10 percent Pentagon boost is financed by $54 billion in cuts to foreign aid and domestic agencies that had been protected by former President Barack Obama.

    The budget goes after the frequent targets of the party’s staunchest conservatives, eliminating the National Endowment for the Arts, legal aid for the poor, low-income heating assistance and the AmeriCorps national service program established by former President Bill Clinton.

    Such programs were the focus of lengthy battles dating to the GOP takeover of Congress in 1995 and have survived prior attempts to eliminate them. Lawmakers will have the final say on Trump’s proposal in the arduous budget process, and many of the cuts will be deemed dead on arrival. White House Budget Director Mick Mulvaney acknowledged to reporters that passing the cuts could be an uphill struggle and said the administration would negotiate over replacement cuts.

    Mulvaney also went after GOP favorites, including aid to rural schools and health research, while eliminating subsidies for rural air service and the federal flood insurance program that’s a linchpin for the real estate market, especially in coastal southern states and the Northeast.

    Trump’s GOP allies Capitol Hill gave it only grudging praise, if any. “Congress has the power of the purse,” reminded House Appropriations Committee Chairman Rodney Frelinghuysen, R-N.J. “I look forward to reviewing this,” said House Speaker Paul Ryan, R-Wis.

    “This is not a take-it-or-leave-it budget,” Mulvaney admitted.

    Law enforcement agencies like the FBI would be spared, while the border wall would receive an immediate $1.4 billion infusion in the ongoing fiscal year, with another $2.6 billion planned for the 2018 budget year starting Oct. 1.

    Trump repeatedly claimed during the campaign that Mexico would pay for the wall when, in fact, U.S. taxpayers will foot the bill.

    Twelve of the government’s 15 Cabinet agencies would absorb cuts under the president’s proposal. The biggest losers are Agriculture, Labor, State, and the Cabinet-level EPA. The Defense Department, Department of Homeland Security and Department of Veterans Affairs are the winners.

    More than 3,000 EPA workers would lose their jobs and programs such as Obama’s Clean Power Plan, which would tighten regulations on emissions from power plants seen as contributing to global warming, would be eliminated. Popular EPA grants for state and local drinking and wastewater projects would be preserved, however, even as research into climate change would be eliminated.

    Trump’s proposal covers only roughly one-fourth of the approximately $4 trillion federal budget, the discretionary portion that Congress passes each year. It doesn’t address taxes, Social Security, Medicare and Medicaid, or make predictions about deficits and the economy. Those big-picture details are due in mid-May, and are sure to show large — probably permanent — budget deficits. Trump has vowed not to cut Social Security and Medicare and is dead set against raising taxes.

    “The president’s going to keep his promises” to leave Social Security and Medicare alone, Mulvaney said.

  11. On March 16, 2017 at 11:21 am,
    Matthew says:

    Remember the Michael Milken case? It wasn’t what you thought.

    Martin Armstrong has also addressed this case.

  12. On March 16, 2017 at 11:50 am,
    Gator says:

    Hey Chris..if you would listen to news from sources other than CNBC you might get up to speed on the infrastructure spending…

    • On March 16, 2017 at 4:08 pm,
      Temple says:

      I look at lots of other news sources — what do you suggest I missed?

  13. On March 16, 2017 at 12:13 pm,
    Bob UK says:

    That was really interesting. A lot of food for thought from Chris about how what is going on could affect so many sectors of the markets.

  14. On March 16, 2017 at 12:14 pm,
    AJ says:

    Trump ‘Budget’ Is Nothing More Than A Campaign Press Release

    Donald Trump played us. Again.

    Trump’s so-called “skinny” budget includes proposals for just one-third of all federal spending, doesn’t mention revenues, doesn’t include any forecasts about the economy and doesn’t include a summary table showing what the federal deficit and debt will be because of his proposals.

    To say the least, it’s fiscally incomplete.

    It’s also politically incompetent.

    Because of the Trump administration’s habit of leaking proposals before they’re formally released, we already know that the most controversial proposed spending reductions in the plan are unacceptable to congressional Republicans. The Trump document (I absolutely refuse to refer to it as a “budget”; you should too) was called “dead on arrival” weeks ago not by House or Senate Democrats but by a GOP senator.

    Like many of the other plans that have come from the Trump White House since Inauguration Day, this document was released prematurely and is anything but well-conceived. Also just like many of the other Trump efforts and initiatives (think about the now multiple travel bans and Obama’s alleged wiretapping, for example), this too will have to be walked back and revised in the not-too-distant future.

    As this wonderful table prepared by federal budget wiz Richard Kogan of the Center on Budget and Policy Priorities shows quite clearly, Trump is the first newly-elected president to submit his first limited fiscal plan (again…not a budget) without most of the major elements that make the federal budget a budget.

    This follows Trump’s refusal to release his tax returns during or after the campaign, his apparent disdain and dismissal of the ethics rules and his personal business empire and his recent refusal to confirm that he actually donated his salary as president as he promised to do. It also follows the Trump administration’s attempt to discredit the Congressional Budget Office and his campaign’s efforts to undermine the Bureau of Labor Statistics.

    Because of this, you have to wonder what other long-established budget, spending and tax norms will be challenged and violated by the Trump White House. Based on the document released today, it might be best to assume that it will be all of them.

    • On March 16, 2017 at 4:09 pm,
      Temple says:

      Well said — this is an idiotic gimmick that will further weaken Trump’s remaining power to negotiate for what he promised.

  15. On March 16, 2017 at 2:15 pm,
    Paul L says:

    Trump is going to get himself into a lot of trouble with his constant tweeting. He just got proven wrong on the wiretaps and is looking he may have lied. The great wall of USA is coming. Maybe they could make it a tourist attraction like in China and sell tickets to pay for the wall.

  16. On March 16, 2017 at 3:05 pm,
    b says:

    Right now it looks like the deep state is winning.
    Trump is kinda silly to accuse Obama without proof ready to show the public.
    Its beginning to look like he is a wash.

    Paul Craig Roberts

    Graeme MacQueen, a university professor in Canada, calls attention to the American left’s inability to exercise immagination with regard to the reports of the Warren Commission and the 9/11 Commission. A collection of individuals and publications, somehow regarded as leftwing, has proven to be active agents for the conspiratorial state against true dissent.

    Here is the link to Graeme MacQueen’s article: @ pcr site

    The United States no longer has a leftwing, and neither does Europe, Greece least of all, a country whose “leftwing” government has agreed that Greece’s creditors can loot and plunder the Greek people and the public assets of Greece in behalf of the One Percent. The British Labour Party is as rightwing as the Conservatives, and the French socialist party is more rightwing and much more acceptant of American overlordship than General Charles De Gaulle.

    In Germany the electorate has put in place as Chancellor of Germany a US puppet who represents Washington, not the German people. And she will continue to represent Washington, even if it means war with Russia.

    The leftwing, once a force that attempted to hold governments accountable, has merged with the American Empire. The American “left” has now joined with the military/security complex to deep-six the prospect of detente with Russia. See, for example, @ pcr site/2017/03/14/trump-and-russia-the-shortest-reset-ever/

    The American leftwing has joined with the neocons, the presstitute media, and the military/security complex in a common agreement that anyone who favors better relations with Russia is a Russian agent or a dupe of Vladimir Putin. And if you know enough to doubt the Warren Commission and 9/11 Commission reports, you are a conspiracy kook and are put on Harvard’s list of purveyors of “fake news.” Everyone who does not agree with the Establishment’s line is “fake news.” And this is in a “democracy with free speech.” What a joke America has become!

    In other words, the “left” has accepted the neoconservative line that those who advocate peace with Russia, other than on US imposed terms, are traitors to America, including the President of the United States. Harvard University now has a PropOrNot type of list of suspect websites. All who favor normal relations with Russia are on the list.

    We have reached the point that even for Harvard University,no dissent from hating Russia is possible. This leaves war as the only option.

    Are you ready to die for the military/security complex’s enormous budget?

    That is all you will be dying for.

  17. On March 16, 2017 at 5:38 pm,
    GH says:

    I recognize some good things Trump has done–killing the TPP, apparent increased prosecution of pedophiles, vaccines, at least talking about repairing relations with Russia.

    But he appears to be in the pocket of Goldman Sachs / Wall Street, and this is a deal-breaker. He won’t make America great or be a great president at this rate. Nor will he drain the swamp.

    “Russia fear-mongering is the perfect way to superficially oppose Trump, without actually opposing him. Corporate media and Democrats don’t dare focus on Trump’s Wall Street embrace because Wall Street owns their asses too. That’s the dirty little secret here.

    While that’s bad enough, the only reason Trump is actually able to get away with such an obvious betrayal and lack of swamp drainage, is because his supporters allow him to. His power resides in his base, and if his base shrugs as he sticks a knife in their backs, then he’ll continue to stick the knife in. “

    • On March 16, 2017 at 5:39 pm,
      GH says:

      That last paragraph is the key.

      Will Trump supporters be as lacking in principle as Obama’s supporters were?

      Bitter experience suggest they will. I would love to be wrong.

  18. On March 16, 2017 at 6:15 pm,
    Markedtofuture says:

    Senators Demand State Department Probe Into Soros Organizations

    “Over the past few years, the U.S. Mission there has actively intervened in the party politics of Macedonia, as well as in the shaping of its media environment and civil society, often favoring left-leaning political group over others. We find these reports discouraging and, if true, highly problematic. Much of the concerning activity in Macedonia has been perpetuated through USAID funds awarded to implementing entities such as George Soros’ Open Society Foundations.”