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GOP Congress : Highest Spending since Obama Stimulus Year

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And remember that stimulus year (FY2009) included the 0B of capital to banks just to cover the $Ts of non-risk assets the Fed created in the first place and crashed the whole system; ie not spending for government consumption or transfer payments. And FY2018 is starting out even higher. Now is not the time to be calling for a recession next month. HIGHEST SPENDING SINCE OBAMA'S STIMULUS https://t.co/ryzOmR9rGd — DRUDGE REPORT (@DRUDGE_REPORT) October 20, 2017

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And remember that stimulus year (FY2009) included the $350B of capital to banks just to cover the $Ts of non-risk assets the Fed created in the first place and crashed the whole system; ie not spending for government consumption or transfer payments.

And FY2018 is starting out even higher. Now is not the time to be calling for a recession next month.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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