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The Magical, Wonderful, Tremendous US-Mexico-Canada Agreement Is Brought To You By NAFTA

"Congratulations!"

"Congratulations!"
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4 comments on “The Magical, Wonderful, Tremendous US-Mexico-Canada Agreement Is Brought To You By NAFTA

  1. Here’s what I’m confused about: if this is sending a positive signal, what is that signal representing? That Canada/US trade won’t break down in the near future? Are we now operating under the suggestion that the breakdown of global trade was somehow not baked into the markets and that maintaining the status quo is now somehow positive news? I don’t get it. It reminds me of market euphoria and late stage sentiment. Any news, no matter how benign will be seen as a sign to spend more and take on more risk. It doesn’t matter that in context, these stories really don’t change the fundamentals of the markets or trade generally. But they feed into a psychological need to provide justification for more risk taking behavior.

    H, I’m reminded of your write ups regarding the Philips Curve and how even seemingly benign movements in certain indicators result in wild swings in wage inflation, eventually tipping the curve over. The economy, while we like to describe in rational terms, is still based on the actions of irrational people.

  2. Just listening to… your leader discuss the most historic deal ever. As a furiner, I can only think of one think as he speaks…

    Acorn doesn’t fall far from the tree.

  3. This just looks weird. Once again, Trump declares victory about not very much, it seems to me. There are other ways that this trade agreement messes things up the way “managed trade” people like, opening ever more avenues for the venal to exploit. Check out the access to the US market for dairy products! Meanwhile if Canada opens “3.5 per cent” of its dairy market to the US, does it have to open it to NZ dairy (this is where I live)? The devil is going to be in the detail here, and it’s a devil with a tail.

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