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No Laughing Matter
As noted here on Sunday evening, there's now begrudging acceptance among market participants and Wal
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If we needed any further indication that Trump is going to burn our own house to the ground so he can rule the ashes, China, Japan, and South Korea are apparently coordinating a trade response (according to Chinese media anyway). If that’s true, the implications are astonishing.
To your point, it’d be better if Trump made a choice and stuck with it because uncertainty is the worst option. Countries aren’t going to sit around waiting to deal with his latest tantrum even if it means becoming frenemies with historical rivals. We are upending the world order that we established and dominated for nearly a hundred years to ally ourselves with the Russias and Hungarys of the world.
It’s just incredible that he has decided to take the Navarro route – is there a Cohn or Mnuchin who can serve as a check here – does Vance not realize the likelihood of what happens in the mid terms and the potential damage to his brand ?