Trump handouts intensify economic Bermuda Triangle

President Donald Trump on September 9 proposed to pay every U.S. adult a $5,000 "Trump dividend" if Republicans keep control of Congress in the November midterm elections. The pledge came during the first day of a party convention being held in Dallas.

The Treasury Department said on the same day that it would repurchase as much as $6 billion in 10- to 20-year U.S. bonds during a buyback operation on September 10, triple the amount of its last such operation.

The president promised voters $5,000 each if Republicans stay in power. Some $1 trln of new spending would exacerbate the Fed's inflation-fighting job and hamper Treasury's efforts to rein in deficits and bond yields. An increasingly dangerous policy vortex only vexes investors.