Chris Matthews
Chris Matthews
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Larry Summers says deficit reduction would be ‘catastrophic,’ argues for new government debt yardstick

Larry Summers says deficit reduction would be ‘catastrophic,’ argues for new government debt yardstick

An all-star panel of economists implored Congress to pass a major new coronavirus stimulus package, with former U.S. Treasury Secretary Larry Summers making the argument that Washington politicians should become much more comfortable with large deficits and a growing national debt.During a virtual event staged Tuesday afternoon by the Brookings Institution to advise the incoming Biden administration and Congress on fiscal policy, Summers attacked the conventional wisdom behind the bipartisan Simpson-Bowles fiscal responsibility commission created by former President Barack Obama 10 years...

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Chris Matthews
2d ago
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Trump asks Pennsylvania lawmakers to ‘turn around’ election results during GOP event in Gettysburg

Trump asks Pennsylvania lawmakers to ‘turn around’ election results during GOP event in Gettysburg

President Donald Trump addressed an audience of Republican state legislators and other supporters at the Wyndham Hotel in Gettysburg, Pa., on Friday, imploring the lawmakers to attempt to overturn the results of the Nov. 3 presidential election.The Pennsylvania election was “an election that we won easily, we won by a lot,” the president said, via telephone. “The election was rigged, and we can’t let that happen, and this election has to be turned around.” President-elect Joe Biden won Pennsylvania by 81,660 votes, or 1.2 percentage points, according to the Associated Press. The Gettysburg...

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Chris Matthews
Nov 25
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Michigan certifies Biden victory as Trump’s legal team suffers further losses

Michigan certifies Biden victory as Trump’s legal team suffers further losses

The Michigan Board of State Canvassers certified President-elect Joe Biden’s victory in the state and its 16 electoral votes in a 3-0 vote Monday afternoon with one abstention. Michigan is the first of several battleground states that are scheduled to certify Biden’s electoral victories this week, while President Donald Trump’s attempts to reverse these states’ results in the courts have suffered a string of defeats.The lone dissenting voice was that of Republican Norman Shinkle, who advocated for delaying the vote until the board had more information about possible irregularities. The...

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Chris Matthews
Nov 23
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Biden says Trump will be remembered as ‘one of the most irresponsible presidents in American history’

Biden says Trump will be remembered as ‘one of the most irresponsible presidents in American history’

President-elect Joe Biden had stronger words Thursday afternoon for President Donald Trump and his refusal to concede the recent presidential election.“What the president is doing now is going to be another incident where he will go down in history as being one of the most irresponsible presidents in American history,” Biden said during a press conference in Wilmington, Del., when asked about Trump’s refusal to concede, which has prevented the president-elect from accessing funds, personnel and key information in advance of his inauguration on Jan. 20. Biden said that he would not speculate...

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Chris Matthews
Nov 19
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Kissinger says U.S., China must cease escalating threats, or ‘we will slide into a situation similar to World War I’

Kissinger says U.S., China must cease escalating threats, or ‘we will slide into a situation similar to World War I’

National newsHenry Kissinger is no stranger to a hostile China. As President Nixon’s national security adviser, Kissinger helped engineer the first official visit by an American delegation to the People’s Republic of China, which ultimately paved the way for Nixon to visit Beijing and the U.S. to resume a cooperative relationship with the country after a long period of diplomatic isolation.On Wednesday afternoon, the famed diplomat warned that rising tensions between the U.S. and China could ultimately lead to a disastrous, kinetic war, in a virtual discussion with Federal Reserve Bank of...

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Chris Matthews
Oct 7
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Senate passes bill that could delist Chinese companies from U.S. stock exchanges

Senate passes bill that could delist Chinese companies from U.S. stock exchanges

The U.S. Senate approved sweeping new legislation Wednesday that could ultimately bar many Chinese companies from listing shares on U.S. exchanges, or otherwise raising money from American investors.Sen. John Kennedy, a Louisiana Republican, submitted the Holding Foreign Companies Accountable Act for unanimous consent, a bill co-sponsored by Democratic Sen. Chris Van Hollen of Maryland and Republican Sen. Kevin Cramer of North Dakota. The bill was approved without objection.The bill would require Chinese companies to establish they are not owned or controlled by a foreign government....

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Chris Matthews
May 20
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Investors should prepare for a U.S. ‘economic depression,’ warns Kyle Bass, but China’s fate could be even worse

Investors should prepare for a U.S. ‘economic depression,’ warns Kyle Bass, but China’s fate could be even worse

Kyle Bass made his name betting against the U.S. housing market more than a decade ago, and today he is predicting an economic contraction that could be more than three times as severe as that suffered during the Great Financial Crisis.“For the year I think you’re going to see U.S. GDP down somewhere between 7% to 10% in real terms,” as a result of the COVID-19 pandemic and the government’s efforts to contain the spread of the virus with business shutdowns, and “10% is an economic depression,” said the founder of hedge fund Hayman Capital Management, in an interview.Indeed, the last time...

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Chris Matthews
May 13
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After coronavirus, the U.S. will ‘never return to free-market capitalism as we knew it,’ says Guggenheim’s Minerd

After coronavirus, the U.S. will ‘never return to free-market capitalism as we knew it,’ says Guggenheim’s Minerd

Scott Minerd, global chief investment officer at Guggenheim Partners isn’t optimistic about the economic recovery from the coronavirus pandemic, and he worries the tepid rebound could lead to a “populist revolt to address massive inequality of income and wealth.”Minerd wrote in a Sunday blog post that he predicts there will be no “V-shaped” resumption of the pre-COVID-19 trend of economic growth, and that it will take four years for the American economy to regain January 2020 levels of output.“Monetary and fiscal policymakers are pulling out all the stops to keep the economy and citizenry...

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Chris Matthews
Apr 27
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Bernie Sanders’ surge in the polls could hit the S&P 500 with Iowa Caucus vote due this week, analysts warn

Bernie Sanders’ surge in the polls could hit the S&P 500 with Iowa Caucus vote due this week, analysts warn

SharePolls show Sanders tied with Biden in Iowa, leading in New HampshireBernie Sanders rise in the polls for the 2020 U.S. presidential election this winter has been accompanied by equally impressive gains in the stock market, at least before last week’s selloff, and the recent volatility could be a taste of what’s to come if his star continues to rise, analysts told MarketWatch. The Vermont senator’s popularity with Democratic primary voters sank to nearly its lowest level during the 2020 election cycle on Oct. 17 of last year, according to compiled by Fivethirtyeight.com. On that date,...

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Chris Matthews
Feb 11
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