The soaring price of Bitcoin is a useful lesson about markets for people who seem to very quickly forget the last lesson. Bitcoin, a digital algorithm, backed by absolutely nothing, has been selling for more than $16,000.
The Trump administration assures us that ordinary workers will still come out ahead because their corporate tax cuts will lead to a huge surge of investment. There is pretty much zero reason to believe this.
There is actually a possibility that Trump will reappoint Yellen as Fed chair in spite of her being a Democrat. He may be looking for a way to be conciliatory to Democrats and earn himself some good press.
While we must fight many horrible policies on Trump's agenda, there may actually be a huge dividend if he succeeds in pushing the economy to full employment.
