The Real Side - Consumer Financial Protection Bureau Has New Director
Show Notes:
- David appears @ 19:40
- The Consumer Financial Protection Bureau has a new Director, Mick Mulvaney who was temporarily appointed by President Trump after the former Director, Richard Cordray, stepped down. This sparked a little bit of controversy as Cordray promoted his chief of staff, Leandra English, to become deputy director until the Senate could confirm a permanent replacement.
- David thinks the potential unraveling of the CFPB could prolong the bail-in he has warned about for years.
- The bail-in, while pushed to the back burner with the new CFPB developments, is still a possibility with the amount of debt being added by the new budget.
- Unless the government cuts spending, the tax cuts won't due much.
- David summarizes Fed rate hikes and the bond bubble which is probably going to burst in 2018.