Faber News Flow

It's not easy to openly accuse your boss of being wrong, especially in politics. Trump's economic advisor just did. Directly contradicting Trump, White House economic adviser  Larry Kudlow Admits US Will Pay for China Tariffs . White House economic adviser Larry Kudlow on Sunday acknowledged that the Chinese do not directly pay tariffs on goods coming into the U.S., contradicting President Donald Trump's claims that China will pay for tariffs imposed by the U.S. Kudlow said that "both sides will suffer on this," but argued that China will suffer significant GDP losses as export markets are hit. The blow to U.S. GDP, on the other hand, won't be substantial since the economy is "in terrific shape," he said. Kudlow is right about point one, wrong on point two. The US economy is not in great shape unless you consider economic bubbles as a great shape. Goldman Sachs Same Story Goldman Sachs says the same thing:  The cost of Trump's tariffs has fallen

Economist Judy Shelton, a Trump economic advisor and a gold standard advocate is rumored to be Trump's next Fed pick. Bloomberg reports  White House Considers Economist Judy Shelton for Fed Board The White House is considering conservative economist Judy Shelton to fill one of the two vacancies on the Federal Reserve Board of Governors that President Donald Trump has struggled to fill. She's currently U.S. executive director for the European Bank for Reconstruction and Development, and previously worked for the   Sound Money Project , which was founded to promote awareness about monetary stability and financial privacy. Case for Monetary Regime Change On April 21, Judy Shelton had an ope-ed in the Wall Street Journal:  The Case for Monetary Regime Change . Since President Trump announced his intention to nominate Herman Cain and Stephen Moore to serve on the Federal Reserve's board of governors, mainstream commentators have made a point of dismissing anyone sympathetic to a