It’s Quiet Out There: G-20 Leaves Markets Feeling “Damp And Grey”

It feels quiet out there. Maybe a little too quiet. There’s plenty of G-20 banter about the US/Trump having “won” at the weekend gathering in Germany. In this context, “winning” means successfully getting the “resist all forms of protectionism” language removed from the communique. Remember, in Trump/Navarro make-believe land, free trade is a bad thing, so telling everyone…

Goldman: Trump Threatens Europe With Strongman “Bilateral World Order”

So you know, the percentage of the European population that’s still sane (and that’s an ever dwindling number apparently) would have really appreciated it if Trump would have just been satisfied with the damage he’s already done rather than piling it on by dispatching Peter Navarro to weigh in on the legitimacy of the common currency.

Daily Kickstart (Chinese FX Reserves Fall Below $3 Trillion, Euro On The Back Foot, Senate Weighs Risk Of School Grizzly Attacks)

The “big” news overnight should have been Chinese FX reserves just like China should be back in the global spotlight more generally as it becomes increasingly apparent that the PBoC is leaning towards financial stability at the possible expense of growth (i.e. they’re in tightening mode). Overnight we learned that Beijing’s FX reserves fell below the magic $3…

FEER-mongering

Tuesday’s most read post, oddly, was this one: “Trump’s Idiot Trade Czar Tanks Dollar With Absurd Attack On Germany.” I say “oddly”, but I guess I shouldn’t be entirely surprised. After all, Peter Navarro – who I’ve taken to calling Trump’s “economic spirit animal” – is an exceedingly controversial fellow. In academic circles, he’s considered something…

A Trade War With China Will Plunge The World Into Recession – But This Idiot Doesn’t Care

Last Wednesday, Donald Trump decided that China critic Peter Navarro should oversee American trade and industrial policy. The Harvard-trained Navarro is the director of “Death by China,” a documentary you can now suffer through watch for free on YouTube if you’re too cheap to pay for Netflix. I’ve embedded it below for posterity’s sake. Navarro isn’t what you…