Trump's Tax Plan

Washington Examiner: The Big Six behind this Plan

Axios: Trump to cut top rate to 35% and double the personal deduction

There is a lot riding on this.  Expect the left and Democrats to do everything they can to derail it.  But I like setting up Democrats up for re-election to oppose it. The key to that is a plan that the public really wants (and will punish those who oppose it).

Rush Limbaugh: Trump's Tax Plan, More populist than conservative, and Trump slams McCain, again

Legal Insurrection: Trump's New Permanent Travel Order

Megan McArdle: These Are No Reagan Tax Cuts

AoSHQ/J.J. Sefton: Morning Report

Right Scoop: Under The Bus

This Is CNN

Hogewash: The NYT learns to do math...

So who should replace Hamilton on the Ten Dollar Bill?

TOM susggested Phyllis Schlafly (an excellent suggestion) but Fail Burton suggested...

via Zero Hedge

Update: Hot Air notes South Park opened last night with Caitlyn Jenner!

And I especially liked Carly Fiorina's response to this question...

But given Andrew Jackson's abuse of the Cherokee people on the Trail of Tears, shouldn't the media be asking Elizabeth Warren what she thinks about replacing Jackson on the $20?

Legal Insurrection: Elizabeth Warren's White Ancestor Shot An Indian

EBL: Why Trump is Winning, US Constitution Day (Hamilton was a delegate to the Constitutional Convention) and Debate Night

Rush Limbaugh: Trump and Jeb spar, Carly's inspiration on code name?, Trump Carly Faceoff, and Debate Analysis

AoSHQ: Peak Trump and Biden In?
Mark Steyn: Debate Night and Winners and Losers

Regular Right Guy: CNN Sucks
AmPowBlog: So what will happen now? 

Are we heading for a crash of the stock market?

Zero Hedge?  Oh wait this is Forbes and the problem may be bigger than you may realize…

Hmmm…

The key takeaway is that overvalued financial markets are not sustainable and must eventually experience a correction that returns them back to their fundamental value. In a free market (unlike what we have now), stock valuations move in waves, alternating from undervaluation to fair valuation to overvaluation, and back again. The Federal Reserve, by trying to keep the bubble constantly inflated, has distorted this natural process. Regardless, U.S. stocks will come back to earth when the Fed finally loses control of the situation, and the final comedown will be far more painful than would occur in a free market.

How The Stock Bubble Will End

I believe that the longer-term U.S. stock bubble will end when the very fuel behind it is removed, which is record low interest rates. As I discussed in my last stock bubble report, I foresee two ways that rates will rise and pop the stock bubble: 

Scenario #1: After several more years of the Bubblecovery or bubble-driven economic recovery, the Federal Reserve has a “Mission Accomplished” moment and eventually increases the Fed Funds rate too high, creating a hard landing that pops the post-2009 bubbles that were created by stimulative monetary conditions in the first place. Rising interest rates are what ended the 2003-2007 bubble, which led to the Global Financial Crisis. 

Scenario #2: The ballooning and unsustainable amount of government and corporate bond market debt eventually causes investors to jettison bonds en masse, which leads to much higher interest rates.

Misconceptions about bubble markets

So what will these new trillion dollar coins look like?

There is some suggestion that the U.S. Government could issue platinum trillion dollar coins to cover the debt.  It would probably be a fiction since a trillion dollars worth of platinum would weigh  40,207,619 pounds or 20,135 tons (at $1552 an ounce).  My math may be off a bit (I may have missed a zero and I did not convert to Troy ounces).  But let's just agree it would weight a lot.  I am positive the U.S. Government does not have even close that much platinum anyway (probably all the gold in Fort Knox is not close to that value). 

Update:  There may not be that much platinum in the world (although it is very heavy). No one is really sure how much gold is in Fort Knox or U.S. Government hands.  All the gold ever mined in human history would fit in two Olympic sized swimming pools.  All the platinum ever mined in human history would fit in an averaged sized living room.  So why is gold more expensive now than platinum?  Gold looks better?

More on how much gold there is in the world...

Allahpundit questions the wisdom of "magic" coins.

Update:  

A modest suggestion by Vodka Pundit...

These trillion dollar coins are likely unconstitutional...

And the left is blaming Boehner and GWB for this?  WTF?  How about blaming Barack Obama who is friggin proposing this Weimar-esque scheme?  

Anyway, here is my suggestion for the design of such a coin: 

Instapundit has this suggestion...

And platinum is heavy.  About twice as heavy as gold.  Here is what a kilo (2.2 lbs) of platinum looks like:

A little bigger than actual scale