Have Genius, Will Travel.
Well needless to say, this was not a particularly inspiring week.
‘Unglued’ Trump Was ‘Looking For A Fight’, Was Goaded Into Tariff Decision By Ross, Navarro: NBC
Not only were Congress, State, DoD, and Treasury left out of this, even the White House itself outside of Trump, Ross, and Navarro was kept in the dark.
Wilbur Ross Shows Up On CNBC With A Can Of Campbell’s Soup To Defend Tariffs
“I just bought this can today.”
Moody’s: ‘March Is Off To A Horrible Start, Tariffs Warn Of Even Faster Price Inflation’
“Do not be surprised if a very adverse reaction by financial markets forces the administration to reconsider the tariff proposals.”
Sarah Huckabee Sanders: The White House May Be In ‘Chaos’, But America Loves It
Now hold your nose, close your eyes, and swallow this big ol’ heapin’ pile of presidential chaos.
Trader: ‘This Feels Like A Throwback To The Pre-Weekend Choices We Had To Make During The Crisis’
To be clear, you don’t ever want to count out the dip-buyers. But…
Goldman Warns On Tariffs: ‘Expect Further Disruptive Trade Developments’
Well, the “reviews” continue to pour in…
If You’re Long Risk Assets, You Do Not Want To Hear Kuroda Using The Word ‘Exit’
For two months now, the world has been eyeing the BoJ closely for signs they might be set to follow the Fed and the ECB down the road to policy normalization.Â
Epsilon Theory’s Latest: ‘Good Job!’
“But it doesn’t work. Or at least it doesn’t work anymore.”
Here’s What Dan Loeb Had To Say On Thursday About The Outlook For Markets
“…probably won’t have the same tailwinds that we had last year in terms of low volatility and steady up into the right market that ended up over 20% for the year.”
Trader: ‘There Is One Asset That’s As Cheap As It’s Ever Been’
“Cries of that awful acronym TINA ring through the halls of investment houses as clients take a big gulp and write blue tickets – despite the lofty prices. After all, everything is dear and their retirement still needs to funded.”
This Means War.
Thursday went swimmingly.
Trump Starts Trade War: Steel Tariffs Drag Jack Daniels, Hogs Into Absurd Transatlantic Tit-For-Tat
Eventually, dumb shit is recognized for what it is.
Man Who Operates On Brains Fails To Recognize Terrible Optics Of Spending $165,000 On ‘Lounge Furniture’
“While Carson believes that America’s taxpayers ought to give him $196,000 to decorate his “suite,†he believes firmly that the poor should be as uncomfortable as humanly possible. You know, to motivate them.”
John Kelly: ‘I Guess God Is Punishing Me’
Please do take a minute to appreciate the moment in that clip when John realizes that the crowd might be laughing at him rather than with him…
Goldman Interviews Paul Tudor Jones, Gets Retelling Of The Battle Of The Little Bighorn
“Let me describe to you where I think Jerome Powell is right now as he takes the reins at the Fed. I would liken Powell to General George Custer before the Battle of the Little Bighorn, looking down at an array of menacing warriors.”
Oh No: Here’s How Much Worse It Got For David Einhorn In February
Well now we know what the numbers were for February…
The Big Dollar Question: Is This The Turning Point?
So there you go. You can take that to the bank. Or not.
David Stockman Presents: The Truman Show
“The younger of the anchors (age 32) thought the $1.8 trillion was not a problem because the soaring debt and the Fed’s balance sheet shrinkage plan have been well telegraphed and will shock no one. Yes, and as we were tempted to reply, parking on a rail crossing and knowing that a freight train is barreling down the tracks is not likely to forestall the carnage.”
The Wolf Finally Came.
And so we close the book on February.
Goldman Asks The Big Question: Is This The End Of The Low Vol. Regime?
The narrative in 2017 revolved around two things…
Bill Ackman Gives Up, Unwinds Infamous Short Bet Against Herbalife
All “good” things must come to an unceremonious end.
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