Scott Bessent’s Very Good Day

Treasury Secretary Scott Bessent is having a good day. That’s right, Mr. Bessent is having a good day. The secretary early this morning blasted Iran, stood up to their threats on him and his family, and pointed out that his Operation Outcast and its economic strangulation is working.As I’ve said before, Mr. Bessent is the best war time secretary since World War II. And maybe even before then. President Trump is clearly listening to him. Yesterday he posted on Truth Social that “We don’t need a deal with Iran. Those days have long since passed. We’ve got their money, Hundreds of Billions of Dollars, and we’ve got their Strait!”Mr. Bessent is also asking tough questions about why the Commerce Department failed to place appropriate export restrictions on the Megsapeed honeypot Chinese spy lady, which should have been placed on the entity list, thus preventing their access to high powered chips and other American business dealings.Plus yesterday, Mr. Bessent posted on X reminding everybody of the U.S. manufacturing boom. He wrote that “The sector has expanded for ten consecutive months and added 101,000 jobs so far this year.” He added that manufacturing job openings climbed to 584,000, the highest non-COVID era reading on record.And of course Mr. Bessent could have talked about the rest of the economic boom. Initial unemployment claims are at a record low, and consumer spending is at a rapid run rate. Productivity and profits continue to climb, in fact bolstering this week’s stock market average, despite the Nvidia scandal.Trumpian tax cuts, deregulation, drill, baby, drill and reciprocal free trade are all working. As the president often says, America is the hottest economy in the world.The last piece will be left to Federal Reserve Chair Kevin Warsh.The inflation rate is too high. The Cleveland Fed median CPI at 2.8 percent should be brought down to 2 percent or less. The Central Bank is undoubtedly going to drain money from the economy and appreciate the value of the dollar. Slower printing presses and a stronger king dollar — I call it the Forbes moment — will do the trick in no time.

Scott Bessent’s Very Good Day

Scott Bessent’s Very Good Day

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