Cybersexy webcam - Liquidating illiquid collateral


Cutting taxes in an environment of massive debt and ballooning deficits, without a commensurate reduction in spending, is not going to grow the economy over 3%--at least it hasn't worked in the past 800 years.

liquidating illiquid collateral-13

Treasury Secretary Steven Mnuchin noted recently that, "Through a combination of tax reform and regulatory relief, this country can return to higher levels of GDP growth, helping to erase our fiscal deficit." But the truth is that the proposed tax reform will not completely pay for itself--let alone reduce the deficit or pay down the debt.

The Senate has recently congratulated themselves for approving a budget resolution that would allow Congress to collect $1.5 trillion less in federal revenues over the next ten years, yet they are still in search of new revenue to pass tax reform.

The forward 12-month PE ratio is 18, compared to the 10-year average of just 14.

The 12-month trailing PE for Pro-forma earnings, which takes into account non-recurring items that seem to recur ever quarter, is trading at 20 times earnings.

The deficit as a percentage of gross domestic product (GDP), totaled 3.5%, up from 3.2% the year prior.