Trump Reaffirms "I am a Tariff Man", Promises to "Make America Rich Again"

Move over MAGA. Hello MARA as Trump reaffirms "I am a Tariff Man".

Bad Case of Indigestion

The market is suffering from a strong dose of indigestion today after swallowing the notion Trump worked out a deal with China over the weekend.

Second Thoughts

Both the Market and Trump are having second thoughts about the likelihood of a Trump deal with China.

The DOW is down about 1000 points or so from Sunday's futures high.

Mike "Mish" Shedlock

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Bam_Man
Bam_Man

Very few people getting rich in the stock market these days.

shamrock
shamrock

In his first year he listened to the grown ups and signed Paul Ryans tax cut and vastly slowed down the regulation state. The result was a little bump up of GDP to right around 3% for 2018. This year he listens to the Tariff Man because the Tariff Man is the geniusy of all men and we will probably see recession is 2019. At the very least we will be back under 2% gdp.

Realist
Realist

And the trade deficit will not change much at all. Though if the economy slows enough, the trade deficit will shrink a bit.

Realist
Realist

Trump claims that Tariffs are a tool to solve many problems; he says Tariffs will lower the trade deficit (yet it continues to go up); bring back manufacturing (though by raising costs for US based businesses, he is making them LESS competitive); and allow him to negotiate better trade deals (yet USMCA is virtually identical to NAFTA). Tariffs are a tax that hurt both American businesses and consumers. Tariffs are a lose-lose strategy. Only morons would support such a stupid strategy.

Once the economy slows enough, Trump will claim ”mission accomplished”, like all previous US governments have done when ending tariffs. He will also claim that he has ”fixed” everything that is wrong with the economy and set it up for long term growth. At that point, the economy should have stalled to less than 1% growth. Whether it dips into recession is still a toss-up.

themonosynaptic
themonosynaptic

All you needed to do to realize that the clown in the White House was shooting his mouth off was to link to the Chinese announcement and hit "Translate" on Google.

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