Callaway Kid

ex Wall Street guy, ex hedge fund guy, ex great golfer, with one ex

[Callaway Kid @CallawayKi91134]

@krassenstein He’s a sick fk

[Callaway Kid @CallawayKi91134]

@monicawestbae Correct

[Callaway Kid @CallawayKi91134]

@MeidasTouch Pompous and never in doubt.. until the wheels come off… that’s his MO

[Callaway Kid @CallawayKi91134]

@Liza_from_usa 2 big yesses

[Callaway Kid @CallawayKi91134]

@SRuhle I was there and saw it up close and personal…spot on Stephanie

[Callaway Kid @CallawayKi91134]

@NotHoodlum Yeah but 5’11 and 250 is good, right?

[Callaway Kid @CallawayKi91134]

@VictoriaAmantti Wow

[Callaway Kid @CallawayKi91134]

@Bogachan_1971 He did not… Druckenmiller did, not Bessent

[Dittie @DittiePE]

If you are like most people and don’t follow the bond market, here’s what Treasury Secretary Scott Bessent is doing in plain English:

The government needs to borrow money, and the more investors demand to be paid to lend us that money, the more expensive our $40+ trillion debt becomes. So Bessent is having the Treasury buy billions of dollars of government bonds. That pushes demand for those bonds up and can push their interest rates, or yields, down.

In other words: he’s trying to make the government’s borrowing costs look better without actually fixing the debt while Trump is stealing money allocated to other departments so he can stick gold-plated plastic shit all over the White House.

And Wall Street is already catching on.

These bond purchases are tiny compared with the size of the Treasury market. They can push rates around temporarily, but they can’t make $40+ trillion of debt disappear, fix the deficit or magically make the economy healthy. And here’s the part that’s hard to ignore: the expanded buybacks run through November 4, the day after the midterms.

This looks less like a solution and more like smoke and mirrors designed to make Trump’s economy look better before voters go to the polls.

The market can be nudged.

Reality can’t.

https://t.co/H9JxH58vEL

[Callaway Kid @CallawayKi91134]

@Big_Sydneyy Yay…again

[Callaway Kid @CallawayKi91134]

@Mollyploofkins Pants on fire dude

[Callaway Kid @CallawayKi91134]

@NUCLRGOLF Learn to be a lights out chipper

[Callaway Kid @CallawayKi91134]

@Big_Sydneyy Yay

[Callaway Kid @CallawayKi91134]

@sassyselenaxx I’m easy

[Callaway Kid @CallawayKi91134]

@olgatarasiuioje Wow

[Callaway Kid @CallawayKi91134]

@GoshawkTrades Notso sure

[Callaway Kid @CallawayKi91134]

@LoganRoykah @SamanthaLaDuc You obviously don’t know him or anything about his past

[Callaway Kid @CallawayKi91134]

@rbrtrmstrng Typical Scott

[Kit Lowe @kit_lowe]

Former WSJ journo Jon Hilsenrath responds on LinkedIn

ATTENTION MR. BESSENT, 2.0: YOU ARE COMING UP SHORT ON YOUR OWN '3-3-3' GOALS

Treasury Secretary Scott Bessent has been attacking financial journalists on Twitter [X] this morning. It's petty, but let's judge a man not by what he says. Let's judge him on what he accomplishes.

During the 2024 presidential campaign, Bessent laid out a '3-3-3' economic agenda for his prospective administration. This was a promise to achieve annual economic growth of 3%, reduce the federal budget deficit to 3% of gross domestic product, and increase daily output of oil by 3 million barrels per day.

President Trump's economic co-pilot is failing on every count:

-- Growth in economic output as measured by real gross domestic product slowed to a 1.95% annualized rate during President Trump's first 18 months in office. That's a slower growth rate than the average 3.2% rate when Biden was in office, though the Biden rate was bolstered by a post-Covid pandemic recovery. The Bessent 1.95% growth rate is a touch slower than the 2.0% growth rate during Obama's eight year term in office.

-- The budget deficit is estimated by the Congressional Budget Office to be 5.8% in the fiscal year that ends in September, nearly double the Treasury Secretary's promised rate. In order to reach 3% of GDP, the budget deficit would need to be nearly a trillion dollars smaller. Instead, it will rise next year, in part because of the cost of funding the war in the Persian Gulf. I see little evidence that the present administration, or anyone in Washington for that matter, has a credible plan to reduce the red ink that's spilling forth like a geyser from Washington on a daily basis.

-- Domestic oil production averaged 13.71 million barrels daily in May, up 0.57 million from 13.14 million in January 2025. Again, short of the goal. Implicit in the promise on oil production was a promise that energy costs would ease. They have not.

On one count that matters to many Americans, the economy is delivering a number with a "3" in it: The inflation rate was 3.7% higher in June that it was a year earlier, as measured by the Federal Reserve's preferred personal consumption expenditure price index.

I have no desire to get political, but when a politician attacks honest people who I know and respect, that bugs me. It's petty, and meant purely as distraction.