Not For The Faint-Hearted: Full Week Ahead Preview
This is not going to be for the faint of heart.
This is not going to be for the faint of heart.
Allow me to present a juxtaposition for you.Â
Like the Norwegian Blue, they’re “deceased”. They’ve “expired and gone to meet their maker.”
Peter Navarro needs no introduction, or maybe he does because as it turns out, a lot of Americans aren’t fully apprised of the extent to which America’s trade policy is now being dictated by a pseudo-academic whose claim to fame is “Death By China”, a documentary that features a Bowie knife with a yuan note wrapped around the handle literally stabbing America in the heart(land).Â
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.
It’s almost like we forgot who we were talking about for a minute.
I guess you can’t blame investors being a bit shell-shocked.
Well needless to say, this was not a particularly inspiring week.
Thursday went swimmingly.
“Right away, you’re ready to sell it.”
“Wow, dad.”
How about a little more fun?
Put away your jingoism for a minute and ask yourself if you honestly believe that rolling back what you see in the chart below is really going to help middle America…
As we saw this week, they’re not so good at being subtle.Â
Hint: there’s a moron in charge of U.S. trade policy.
“Maybe if I tweet about it enough”…
UK Cut to Aa2 From Aa1 by Moody’s.
Whatever the case, the assumption here is that this will get done come hell or high water (with the latter having already arrived in Texas and the former well on its way between North Korea and Irma).
“I was taken aback this morning when someone said to me that this was an especially concerning time because of the crazy person in charge.”
“A contraction of federal spending of this magnitude, the risk of default, sovereign reputational risk, and negative consequences for confidence and private sector behavior would likely push the economy into a recession if the situation persisted.”
TRUMP THREAT MOST SERIOUS EVER AGAINST VENEZUELA: INFO MINISTER
TRUMP TELLS CALVO THAT “1000 PERCENT” BEHIND GUAM: CALVO
TRUMP IS SAID TO CALL FOR CHINA TRADE CRACKDOWN MONDAY
TRUMP’S LAWYERS SAY HE’S LEGALLY FREE TO BLOCK TWITTER USERS
“And I liked your editorial today, very nice. (Laughs.)”
“Many risk assets are ripe for a correction from elevated levels and North Korea’s latest provocation provides sufficient excuse for traders to act.”
“But rolling back globalisation would be as foolhardy as rolling back technological change.”
“It is my privilege to bring NAFTA up to date through renegotiation,” Trump said, adding that he “believes that the end result will make all three countries stronger and better.”
“With French political risk significantly reduced (even if there’s still a two-week second round campaign to negotiate), an improving global economy, steadier oil prices, and most of all, range-bound US yields and a lack of fear of rapid Fed tightening, investors see few demons and are off in search of yield.”
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