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Tech Wars, Great Debasements, And A $2.4 Trillion ‘Non-Starter’
A July jobs report billed ahead of time as a potential game-changer for a market desperately searching for something definitive on the macro front offered more ambiguity instead.
Yes, the headline print was a beat and no, there didn't appear to be anything too nefarious hiding in the numbers, but the crosscurrents on Friday were strong. Donald Trump escalated the tech war with China via a pair of alarmist executive orders, while sanctions on officials including Carrie Lam unnerved market partic
If Trumps actions don’t put food on the table and keep the wolf from the door there may well be some serious demonstrations and violence, Which may be what he wants. He’s itching to show he’s a man of law and order and quelling the anger of the hungry and dispossessed may be what he thinks will get him re-elected.
I’m not entirely sure how one quells a few dozen million homeless people. That seems like a recipe for failure. I suppose it wouldn’t be a Trump presidency if there was anything left but ash, tears and debt.
Marko would be pleased at today’s action but don’t read too much into it. Just an overdue reversion to the mean day.
Growth is going to remain challenged and elusive and value will remain in a funk. Need growth for a sustained move there.
The complacency is shocking. There will probably be a rude awakening soon.
This is not normal and the Fed is just making a future big mistake that will be a larger hole we’ll need to try ( and prob fail) to get out of.
We’ll see if this money printing is really the holy grail or if we’ll be run out on the rail.
Watch you don’t stick around too long picking up nickels.
either stimulus does not matter (doubtful) or markets just assumes a messy compromise is days away (likely) because how else does one explain why equities are not 10% lower, or do you just say that the new utilities (tech) are what holds up averages?