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Treasury Secretary Scott Bessent @SecScottBessent - .@larry_kudlow in @NewYorkSun gets it right. Here are the facts:
The dollar was on one side of 89.2% of global FX trades.
Foreign investors still hold enormous amounts of U.S. assets. The principal stablecoins are dollar-denominated. Treasury buybacks are about adding liquidity and managing the maturity structure, not somehow controlling a $30T+ market.
Median household income in 2025: $87,460 — a record.
Official poverty rate: 10.2% — a historic low.
Atlanta Fed GDP forecast: 5.1% annualized real GDP growth in Q3.
And that’s before looking under the hood at the private-sector momentum behind capex and the AI buildout.
The latest numbers show continued employment growth, while business investment and capital expenditures have been expanding, as the CapEx comeback story has continued to broaden out, with nearly 20% more equipment investment in Q2 2026 than at the end of Biden’s term.
Americans deserve honest coverage.
In the New York Times’s latest feeble attempt at delivering a hit piece on the greatest economy in history, the discredited journal selectively excludes data that contradicts this dull narrative. Granted, it’s nothing new that they fail to provide their readers with the full story.
Complicated financial realities should not be reduced to easy-to-read sentences that serve a preordained narrative.
This article’s problem is not complexity. It is selectivity.
If capital is supposedly running from America, why does the data keep showing strong foreign demand for U.S. assets?
If investors are “balking” at Treasuries, someone forgot to tell the bidders.
Norway is not looking elsewhere; it is switching from Treasuries to agency bonds. Still US assets.
Netherlands is bringing gold back from North America, including Ottawa as well as New York, reflecting a home country preference.