Goldman Has A Simple Message On Trade Wars
Donald Trump has a habit of getting nostalgic for "the old days".
This week, that pining away for an undefined lost era when things were done "right" manifested itself in the president suggesting that "spies" used to be dealt with "a little differently".
Trump's allusions to the "old days" aren't always couched in macabre terms. Besides summary executions, the "old days" also featured, according to the president, doctors making house calls, people building bridges, good hairspray and debtors d
Re: “A rip-roaring post-election rally sputtered …”
By focusing on a limited perspective, there’s a lot of distortion and assumptions in regard to a short-lived bump from trump. The concept that an insane and deluded conman would help push equities to some super high infinite point, is in itself insane, unless you were a flag-waving MAGA zealot snorting Adderal. It remains highly unlikely that trump will have anything close to the market performance recorded during the Obama years — at this point in time, if trump is re-elected, the S&P 500 will have to go up another 145% or about 36% over the next 4 years (to outperform the fake foreign born president).
The bond market (at least twice the size of the equity market) has been far less enthusiastic in its trump excitement and of course, as time has flown by, debt holders have been increasingly less optimistic about the path of growth being engineered by our reigning 3-d genius monarch.
==> The yield on the benchmark 10-year U.S. Treasury note settled at 1.864%, the lowest since Nov. 7, 2016, the day before Mr. Trump’s electoral victory. The yield was 1.894% on Thursday.
The Ndrangheta and Sinaloan Cartel should consider opening a publishing arm so they can opine on financial topics like I.P.O. valuations and sovereign wealth funds and Nigerian local government finances.
Perhaps the key going forward is to connect important commodities to IPO’s and equities and debt that become intertwined and intermingled into American pensions (or other globalized pensions) and thus morph unstable corrupt regimes into stable-looking sovereign entities that require military support from our monarch and hence our taxpayers, who all want MAGA .. bawhahahahw
It’s a shame Goldman didn’t add in the effects of the 1929 Smoot-Hawley Tariff Law. Initiated in June 1929 and covering 20,000 products, it resulted in a 65% reduction of international trade, a reduction of the nation’s export base by 64% and an unemployment rate of 25% in 1933. Though the Smoot-Hawley tariffs lasted only 5 years, it was a major contributor to the Great Depression (October 1929), and contributed to the rise of Hitler in Europe and the Second World War. Too bad Trump doesn’t read…least of all, history. Are we condemned to repeat it because he’s so pig-headed and illiterate?