Howdy folks,
Having fun yet? I'm sure you've all been scouring in the news and financial stories about the past 24 hours but damn.
Seems with both the stock market and bond market crashing, some peeps got to Donald and told him, the system was about to break beyond repair. His 90 day reprieve doesn't excite me and really doesn't much matter. The China tariffs are sufficient to wreck our economy. Their number one trading partner is SW Asia, Europe is 2 and we're 3. You see their commercial ad of a factory here making cellphones?
Oh, and Donald wants to start mining more coal. Yeppers, they're lined up for blocks for jobs in the coal mines. He wants to go back to the Gilded Age.
Uncertainty rules the day. The whole economy is on Pause. Lots of hiring those ex-government workers.
Now that they world knows we've got an idiot in control who's MO is chaos, we're no longer welcome in many places. We're all Ugly Americans. Yesterday, the airlines and cruise lines were up 20+%. Really?!? How many of you folks are up for international travel these days? Scrub your phone first.
The kid is staying with my mattresses.
And so it goes,
Peace and stay safe,
rono
Comments
What will be left of it in the next 3.8 years? Whatever it is that the US once was, it is no more. I go to cash - I stop buying and will just watch this mess unfurl.
As somebody likes to post.... "And so it goes."
Clarity is needed to reduce massive uncertainty.
"White House press secretary Karoline Leavitt tried to characterize the sudden change in policy as part of a grand negotiating strategy. But to those outside the Trump administration, it looked like a cave-in to market pressure and to growing fears that the president’s impetuous use of import taxes — tariffs — would cause massive collateral economic damage."
"Trump’s ever-changing trade war tactics — which include earlier levies on cars, steel and aluminum, and Mexico and Canada — have already done damage, forcing dazed companies to delay or cancel plans as they tried to figure out what Trump was doing and how they should respond."
“'Right now, it’s hard to know how this is going to play out, given that this is somewhat self-imposed,' Delta CEO Ed Bastian said. 'I’m hopeful that sanity will prevail and we’ll move through this period of time on the global trade front relatively quickly.'”
https://apnews.com/article/trump-tariffs-pause-businesses-reaction-a61a1adcaf6332f6188ae1d70664b898
I'm told that when it's certifiable, it's pretty damned hard to cross back over to the sanity side.
Ha! Ha!
You're probably right!
https://www.youtube.com/shorts/CcDlVj9wuLY?feature=share
@rono is spot-on.
Historically the government data was accurate but flawed in how and what they measured. Hedonic adjustments for example. If it's new and improved, the increased cost is ignored. Greenspan saying that burger and steak were substitutes for each other so ignore the price differential. We all know that inflation on the street is significantly higher than advertised. Alas, that was then. Today is different. We can no longer trust anything out of Washington. Doing so is staggeringly idiotic.
And so it goes,
Peace and stay safe,
Rono
https://www.independent.co.uk/news/world/americas/us-politics/donald-trump-fund-managers-tariffs-b2730989.html
Excerpt (BOLD added)::
As President Donald Trump’s back-and-forth on trade policies creates chaos in the financial markets, some fund managers are questioning the rationality of his decisions.
“In the last few days, we have had many conversations with macro fund managers,” Tom Lee, the head of research at the financial analysis firm FSInsights, wrote on Wednesday morning, before Trump backed down from most of his tariffs on U.S. trading partners.
“And their concern is that the White House is not acting rationally, but rather on ideology. And some even fear that this may not even be ideology,” he added. “A few have quietly wondered if the President might be insane.”
Ya think?