Stocks are up today with news on trade talks. Is that the reason? Who knows. Perhaps they are up for some other reason or no reason at all.
Anyway, Reuters reports Trump: 'something could very well come out' of trade talks with China's Xi.
Trump, who is set to meet with Xi over dinner on Saturday, made the comment in an interview with Voice of America.
If there is a deal, one thing is pretty clear: We could have gotten to this point with a lot less pain a lot longer ago.
Farmers are rightfully howling and automakers are suffering.
Whatever promises China is willing to throw the US, if any, will not be worth the pain and agony it took to get them.
China Already Lost?!
The Epoch Times claims China Has Already Lost the Trade War.
Really? OK. Who won?
Trade imbalances are a symptom of the problem. Attacking symptoms cannot possibly work.
The problem is we have unfettered monetary printing globally, with no controls anywhere. This all started the moment Nixon closed the gold window.
Total; credit market debt was roughly $1.7 trillion when Nixon closed the gold window. At last report it was $68.6 trillion. The Fed discontinued the total credit market series in the fourth quarter of 2017.
It takes massive amounts of increasing credit to produce relatively trivial increases in GDP.
We have now have unfunded wars, massive deficits, and a stockpile of $21 trillion in debt. The MMT crowd wants still more debt.
If debt fixed the problem we would not have a problem. The US, Japan and Italy prove debt does not fix the problem.
Gold vs Faith in Central Banks
Everything Under Control?
If you don't think so, buy gold.
Mike "Mish" Shedlock