Wall Of ‘What, Me Worry?’

Global equities looked to take a step back Monday, in cautious trading on the last day of a blockbuster month. Stocks put up one of their best performances ever in November, as vaccine news, the prospect of more predictable politics in the US, and a role for Janet Yellen in the incoming Joe Biden administration helped propel risk assets, even as virus lockdowns proliferated across western economies, threatening to plunge Europe and (quite possibly) the US, into double-dip downturns. Rebalancin
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4 thoughts on “Wall Of ‘What, Me Worry?’

  1. Blacklisting Chinese companies isn’t just a matter of “turning the screws” on the Chinese. Like tariffs on Chinese goods, it weighs on US companies who trade with those companies. Focusing only on the burden it places on the blacklisted companies screws our regard for the Executive action, making it look one-sidedly punitive.

    1. It would be helpful if such measures, one-sidely punitive as they might be, were used in conjunction with trillions in USD investments in the US toward further developing our nation’s AI, robotics, biochemistry, updates to the grid, venture capital ecosystem, etc.

      In other sources, I’ll be curious to read about these blacklistings and why the current administration didn’t seek to enact such measures sooner. From the readings above, it’s just a vindictive president trying to make politics more difficult for his successor.

      If these firms really are apparatus of the PLA, an interpretation is that Trump was soft, that he should have acted sooner. And yet, these actions can be used in further diplomatic actions by the incoming administration.

      Notwithstanding, war is not an answer. We have to compete with China on an industry-to-industry basis. They are winning. If we don’t want to lose, we have to make investments that increase our productivity and that generate long-term economic value. Sadly, I have not seen evidence that we are up to the task.

      1. @Runamok! Please! That’s a government industrial policy. ” We don’t pick winners! We let the free markets decide! Have you forgotten Solyndra?” And look at the results! Thanks to private equity and venture capital, we lead the world in food delivery and scooter rental apps!

  2. The crackdown on CNOOC and Mike Pompeo’s antics in the Middle East are his “farewell for now” antics. He makes John Bolton look like a wimp!

    But don’t worry, he’ll be in the running fore the GOP nomination in 2024. Fighting against Tom Cotton. Two would-be despots duking it out.

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