Goldman Asks Trump: Is It Really ‘Easy’ To ‘Win’ A Trade War?
“But how easy is it really?”
“But how easy is it really?”
Remember, he’s going to run this country like one of his businesses…
“That amounts to 156 months without a recession in the face of a guaranteed bond shock that will take the 10-year benchmark yield to 4.00% and beyond.”
Who knows! That’s the fun of it, right?
The end of the WTO? And much more…
“But here’s the thing. The blue line below ain’t no Maginot Line.”
“In the last week of January, as equities went on yet another run, a client who had been waiting to buy the dip called us with an exasperated query.”
“…is arguably the most interventionist, militarist, confrontationist and bellicose national security team ever assembled by a sitting President.”
Who is going to buy these goddamn stocks?
“The only major nation that seems to want to destabilize the global trading system is the U.S.”
It was a black day for equities in Asia and Japan was hit especially hard.
“That’s because his newly appointed task will be to dig through Ronald Reagan’s proverbial room full of horse manure to reassure the Donald that there is a pony in there somewhere.”
“…what more evidence do you need that the financial markets are completely uncoupled from reality and that these feeble bounces between the 50-day and 20-day chart points are essentially the rigor mortis of a dead bull?”
“Usually speaking,” of course.
Ignoring this would be “a mistake”.
This is not going to be for the faint of heart.
Like the Norwegian Blue, they’re “deceased”. They’ve “expired and gone to meet their maker.”
So basically, Ben just said that the only thing he can think of off the top of his head that would be worse for financial markets than Trump starting a trade war would be if the plot of “Seeking A Friend For The End Of The World” became reality.
“Needless to say, the Donald’s un-varnished, un-vetted and un-shackled thoughts whims on most any topic are a thing of considerable disruptive potential. But when it comes to trade, his mind beats to the sound of a drummer not from this world or even possibly the next.”
So there you go. You can take that to the bank. Or not.
“The Donald seems to think that the 37% gain in the stock market between election day and the January 26th high was all about him, and in one sense that’s true. Donald Trump is all about delusional and so are the casino punters.”
And so the holiday-shortened week comes to a close and it delivered everything that could have been reasonably expected of it.
I was told Icarus would be unleashed.
Two economists walk into a bar…
“…they’ve simply deleted the entire industrial economy from the dashboard.”
“When I’ve raised hell you’ll know it.”
“At the end of the day, the real scandal of central banking is that it takes credit for what it doesn’t cause and can’t achieve in the main street economy, while ignoring the mayhem its machinations bring to the financial system.”
You must be logged in to post a comment.