Tracy Alloway and Will Sommer: A Cabinetful of Clueless Grifters

The Treasury market was functioning normally when Bessent announced the buyback, suggesting the real goal was to lower yields rather than fix liquidity. Yield curve control is hard to maintain because the Treasury buyer base has shifted from central banks that must buy to price-sensitive investors who demand higher returns.

The U.S. military could be deployed as the final form of bond market intervention if necessary.

No U.S. president has ever threatened the bond market with military intervention, and it is unclear how such a threat would work.

Bessent plans to use buybacks, short-term debt sales, and possibly eliminate long-dated bonds to drive the 10-year yield to 5% and prevent growth from being strangled before the midterms.

The Treasury is focused on yields because they set mortgage rates and affect AI company financing costs, which underpin stock market performance. Governments are turning to financial repression like yield curve control because growing out of debt, inflating it away, or fiscal consolidation are politically or practically difficult.

Trump's policy choices are making it harder to lower interest rates even as he demands rate cuts.

Tariffs and the war in Iran are pushing up energy costs and building inflation, contradicting the goal of lower rates.

The Fed might only lower rates if Trump's policies cause a recession, since other factors like the AI boom are keeping the economy from contracting.

U.S. economic growth is heavily driven by AI hyperscaler data center buildouts, creating a circular loop of stock gains and consumption that depends on massive, often hidden debt. Hyperscalers' forward commitments for data centers don't show on balance sheets until operational, masking their true financial leverage. Cheaper Chinese AI models are being adopted by U.S. companies, raising doubts about whether U.S. hyperscalers can monetize their spending enough to service their debt.

The global currency system is slowly shifting toward multipolarity as central banks buy gold and U.S. sanctions prompt de-dollarization discussions, but the dollar remains entrenched.

Treasury policies like yield curve control could result in a weaker dollar, creating a 'be careful what you wish for' scenario.

Rising tungsten prices and restarted production usually signal military stockpiling and foreshadow geopolitical instability.

Sean Duffy's taxpayer-funded road trip show focuses on family drama instead of transportation policy, wasting resources while airports face operational crises.

'Data Republican' is a Pentagon special government employee who was used by the State Department to disseminate documents, sparking a feud over alleged entrapment. The administration is using a taxpayer-funded sock-puppet account to spread propaganda and stoke war rhetoric on Cuba, bypassing official spokespersons.

Tucker Carlson is a low-IQ loser whose views are irrelevant and declining, and Marjorie Taylor Greene is a neurotic liberal fool.

The intensity of Trump's attack suggests the administration may be worried about Tucker's faction gaining influence within the coalition.

Trump's use of 'praise be to Allah' is a cheeky jab at Muslims, despite his administration's close ties to Sharia-law countries.

Right-wing agitation against Muslims and brown-skinned immigrants is surging, especially in Texas, fueled by political fear-mongering about Sharia law. MAGA allies stoke anti-Muslim panic while the administration maintains close ties with Sharia-law countries and relies on Qatari jets.

Alexis Wilkins is close to settling her lawsuit against Elijah Schaefer, who accused her of being a Mossad operative sent to seduce Cash Patel.