Required Reading – August 25

Required reading from around the web of the best, most interesting, or most though provoking things we’ve read:

Durden: Powell Speaks: Rate Hikes Appropriate, No Risk Of Overheating; Strong Economy To Continue

“The day’s most anticipated moment arrived when moments ago Fed chair Jerome Powell released his speech titled ‘Changing Market Structure and Implications for Monetary Policy’ which appears to have had zero surprises, as it highlights the same key themes the Fed touched in its latest minutes, to wit it expects the ‘strong economy to continue’ and since there ‘does not seem to be elevated risk of overheating’, the ‘gradual process of normalization (i.e. rate hikes) remains appropriate.’

Powell also says that there are no clear signs of inflation accelerating above 2% (even those core CPI is now 2.4%), and curiously, Powell even explicitly cited Draghi saying: . . .”

Read more at Zero Hedge.

Loudon: Former East German Communists Training, Guiding Democratic Socialists of America

“The United States’ largest Marxist organization, Democratic Socialists of America (DSA), is being trained—and guided—by an extremely well-funded network of “former” East German communists. Many of these German communists were documented informants for the notorious former East German intelligence service: the Stasi. At over 49,000 members—and growing fast—DSA has exploded from an obscure political sect only two years ago to a major force in the increasingly radical American left. DSA is on the verge of electing members Rashida Tlaib and Alexandria Ocasio-Cortez to Congress and is behind dozens of other DSA members and ‘fellow travelers’ to lesser offices.”

Read more at Trevor Loudon.

Goodenough: Bolton Confirms That the U.S. Will Defund UN Human Rights Office

“Bolton told the Associated Press in Geneva that the U.S. will defund the HRC and the Office of the High Commissioner for Human Rights (OHCHR), by reducing by the relevant amount the sum that it pays into the regular U.N. operating budget. […] For the 2018-2019 biennium the OHCHR will receive $201.6 million from the U.N. regular budget, or about $100.8 million for each year. The defunding decision will therefore save American taxpayers roughly $22.1 million per year in assessed contributions, in addition to the amount already saved in voluntary contributions.”

Read more at CNS News.

Mill: Trump Is Not Only Right To Criticize Jeff Sessions, It’s His Constitutional Duty

“Under Article II of the Constitution, the voters exercise their control over the government through the president.”

Read more at The Federalist.

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