The trade war with China and Wall Street

I suceeded long ago, as the saying goes, I got mine. I just do not like when people distort truth, I especially do not like it when it serves to harm the country I love just so a few can make quick profits.

 

What are you talking about, and be specific? Was it anything I said? If so,, explain.

I noticed you had no comment regarding post 72.

You will notice I deal in specifics, not grand speculations.

 

Your post is basically just lies.

"We have the hottest economy the world has ever known." BS the US never fully recovered from 2008. Wage disparity is worse than at any time since the great depression. Home ownership rates have been steadily falling since 2005. Wealth disparity is the same. Half of Americans cannot put their hands on $500 cash without some kind of credit. Most are 1or 2 paychecks away from being homeless.

"We have virtual full employment." BS Employment numbers are artificially skewed because many people need 2 or 3 McJobs to survive where they only needed one good job prior to 2008. Working at Taco Bell, and driving for Uber at night does not replace one good manufacturing job.

"The trade deficit is normal." BS There is no such thing as a normal trade deficit. The trade deficit is a creation of Corporate / Wall St. criminals screwing the USA to line their own pockets by scheming to exploit 3rd world labor and US markets. The US should not have a trade deficit, period.

 

What a bunch of B.S. I stand by what I said. We have the hottest economy the world has ever known. Is everyone getting rich? Hell, no, but our economy is far, far better than the other 200 in the world.

We do have full employment.

The trade deficit is normal when one nation's consumers buy far more than the other. That is common sense.

We're done.

 

The basic issue seems to be that the markets are soaring based on the old "animal spirits" rather than economic fundamentals, and the bull was really let loose when Trump won in 2016. It is remarkable that the Dow has lost ground since the "easy" trade war got started, considering just how much of it is irrational.

 

Thank God!

 

It really is amazing how some people simply refuse to think. I guess that whole thing about leading a horse to water is appropriate here.

 

True but ask Caterpillar what they think of trumps trade war. I just can't get over the hypocritical trumpers, they used to be against the government picking winners and losers. Of course they used to be against many things until trump was for them.

 

Wall Street is largely Republican. That is the reason the stock market soared the day after the 2016 election in which the Republicans won the House, Senate, and the Oval Office. Today, the Republicans on Wall Street believe everything the Republican President says despite his over 10,000 lies, false promises, meaningless rhetoric, endless threats, and failure. In 2 1/2 years Trump has not signed a major trade agreement.

They don't want to believe a Republican President is screwing with our great economy.

Even if it is readily apparent to everyone else that Trump is doing exactly that. He has placed Wall Street into a position where its success or failure is determined by what China does.

 

Trump on Wednesday delayed increasing tariffs on $250 billion worth of Chinese goods from Oct. 1 to Oct. 15.

Trump signaled Thursday that he would consider an interim trade deal with China.

“If we’re going to do the deal, let’s get it done,” he told reporters as he left for a congressional Republican retreat in Baltimore. “A lot of people are talking about it, I see a lot of analysts are saying an interim deal — meaning we’ll do pieces of it, the easy ones first. But there’s no easy or hard. There’s a deal or there’s not a deal. But it’s something we would consider, I guess.”

The last two sentences contradict one another, and reflects Trump's nasty habit of wanting it both ways. His moronic approach often causes confusion.

CNBC reports, "Trump’s statements add to confusion sparked earlier in the day about what the White House would accept in its ongoing negotiations with China. U.S. stock indexes initially climbed on a report that the Trump administration talked about crafting an interim agreement. A White House official then said the U.S. is “absolutely not” considering such a deal, causing markets to give up some of those gains.

Actually, our President always manages to confuse everyone all the time because of his psychotic nature. What kind of a person says one thing, and then reverses himself with the next sentence?

The same kind of person who invites 9/11 terrorists to Camp David on September 8th.

 

https://www.cnbc.com/2019/09/12/heres-what-happened-in-the-us-stock-market-over-crazy-12-hours.html

Wait, what?

 

https://www.cnbc.com/2019/09/12/heres-what-happened-in-the-us-stock-market-over-crazy-12-hours.html


And looky here...

 

Match and raise

https://www.zerohedge.com/personal-...disappoints-july-web-sales-downwardly-revised
https://www.zerohedge.com/news/2019-09-05/bidding-wars-us-homes-collapse-eight-year-low
https://wolfstreet.com/2019/09/05/orders-for-heavy-trucks-plunged-80-in-august/
http://www.doctorhousingbubble.com/china-investors-pullback-california-us-buying-china-investors/
https://moneymaven.io/mishtalk/econ...ing-credit-jumps-11-2-7sDU34LuokC66Ib4S-wavA/
https://moneymaven.io/mishtalk/econ...y-96-000-private-jobs-ABpPLkRteEGbpjjedsb6wg/
http://www.alt-market.com/index.php...8-percent-highest-level-for-august-since-2009
http://www.alt-market.com/index.php...believe-that-a-us-economic-crisis-is-imminent

 

China has announced that it will exclude imports of U.S. soybeans, pork and other farm goods from additional trade war tariffs, opening the door for significant purchases of agricultural products.

Maybe Trump's disastrous trade war with China is ending. Wall Street think so.

That stocks can stay so strong even before we enter the historically best six months for stocks (November through April) of the calendar year tells me they’re poised to move higher, at least in the months ahead, for three reasons:

1. Recession may be coming, but it isn’t right around the corner.

2. The Federal Reserve will keep cutting interest rates whether it wants to or not.

3. Investors expect Trump to fold on trade.

 

Consumer spending is strong.

In fact, our import prices, since Trump has instituted more tariffs, has gone DOWN, not up.

It's up a thousand points since you posted this.

Could you use words suitable for the forum so they aren't ***** so badly that it's difficult to follow your point? China is finally wising up to the fact that if we move our supply chains, and we are, that once we have gone to the expense of moving them, that we aren't going to move them back without a suitable incentive. So they are pursuing Trump now for a deal. They are coming here, we aren't going there, and they just purchased ten shiploads of soybeans and are shopping for boatloads of pork.

No he doesn't. He collecting Billions in tariffs and consumer prices are stable. ​

 

https://www.marketwatch.com/story/3...tock-market-is-heading-even-higher-2019-09-12

 

It wasn't until Sept. 1 that he placed tariffs on popular consumer goods like computers, cellphones, clothing, shoes, diapers, etc.

 

It is a down day for Wall Street caused by the attack on the Saudi oil refinery, but not as down as one would expect. Wall Street is heading for record territory in the coming days barring some new nasty tweet from Trump.

That is because investors really think Trump's disastrous trade war with China is ending. The funny thing is, when Trump says something positive about the end of the trade war, the Dow leaps forward.

When Trump says something negative about the trade war or announces new harsh tariffs, the Dow dives downward.



https://www.mediaite.com/news/stock...5-minutes-after-trumps-stunning-china-tweets/

That is something even Trump can understand.

 

Trump has done nothing for the economy except threaten it with his harsh tariffs and a trade war with China.

To illustrate what I am saying, Wall Street is treading water and is largely dependent upon what China does, thanks to Trump. On Jan. 29, 2018, the Dow stood at 26,439. At this moment the Dow is at 26,942. That is a gain of only 539 points in 20 months. The Dow was under the Jan. 29 figure for most of August. The Dow has gained some ground only because both sides are backing off and creating exceptions to their tariffs. That is the effect of Trump's harsh tariffs and trade war with China, and I certainly hope the reader is not an American farmer. If reader is, he has been driven into welfare or bankruptcy by Trump's policies.

Trump's fans need to re-think their priorities.

 

Yesterday, the Dow lost 344 points. Why? According to the experts, because the manufacturing index (PMI) pointed to contraction in September for a second straight month.

Today the Dow lost 494 points lowering it to 26,079. That is 360 points below where it was on Jan. 29, 2018. Our economy is making negative progress.

Trump blamed the market selloff on the impeachment inquiry.

He is partly right. One day after Robert Mueller appeared before Congress to provide testimony regarding Russian intervention in our 2016 election on his behalf, Trump called the president of Ukraine to ask him to intervene in our 2020 election on his behalf! Subsequent to that illegal act, Speaker of the House Nancy Pelosi launched an impeachment inquiry. This is having an effect on Wall Street where, ordinarily, Republicans Presidents are adored.

The other factor is the loss of manufacturing jobs. A year and a half ago, when Trump imposed his harsh tariffs on steel, aluminum and Chinese goods, I warned that tariffs are a tax paid by Americans on goods Americans buy. Tariffs cause rising prices which causes less demand which, in turn, causes loss of jobs. That is Econ 101.

Still another factor is the ongoing trade war with China begun by Trump.

(Reuters) - Wall Street’s main indexes suffered their sharpest one-day declines in nearly six weeks on Wednesday after employment and manufacturing data suggested that the U.S.-China trade war is taking an increasing toll on the U.S. economy.

 

No reaction from Trump's supporters. It would seem they are avoiding Trump.

Ain't that something.

 

In the brouhaha regarding the impeachment inquiry in the House, there is always the inevitable threat for which Trump is infamous. He is not happy unless he is making threats against someone. Here it is. Are you ready for it?

“I have a lot of options on China, but if they don’t do what we want, we have tremendous power.”

It is just another bogus threat. Trump has issued countless bogus threats. They are meant for his base. They love his threats, but even they know they are fake. The very last thing Trump wants to do is aggravate the trade war with China which is posing a recession threat to our booming economy. He has had enough.

Incidentally, after losing 738 points on Tuesday and Wednesday, the Dow rallied for a whopping 122 points today. The Dow now stands at 26,201. That is 238 points below where the Dow was on Jan. 29, 2018. Does anyone think Trump wants problems with China?