Well, we survived the Space Debris at least.
Unfortunately for 800,000 children who live in America, they are not surviving President Trump, who is calling for "**\*Caravans\*" to come and take them away, without the due process or constitutional rights afforded to the other children in their classrooms. [John Oliver handled the sickness of this mess very well over the weekend](https://www.youtube.com/watch?v=9fB0GBwJ2QA&feature=youtu.be) so you'll either care about this or you won't but, even if you do - what can you do to stop this man?**
When did the United States turn into Vulgaria? Perhaps it was when we elected the man SPY Magazine used to call "the short-fingered Vulgarian", which is now more apt than ever as the President calls for 800,000 children of immigrants to be rounded up, plucked from their schools and from their homes and sent off to countries they don't even remember and, in many cases, which their families sacrificed a lot to get them out of.
When I grew up, sending caravans to round up children was the simple plot-premise of a children's movie that immediately told us the rulers of the country were pure evil and needed to be deposed. There was no question that this was the case – it didn't matter WHY they were rounding up children – rounding up children and putting them in caravans was OBVIOUSLY EVIL!
WFT is happening to this country that we accept things like this. What exactly is the vision of Amerika these days? How did a nation of immigrants come to hate immigrants so much? And yes, you do hate immigrants if you sit silenty by and watch them get dragged out of their homes and deported overseas when the only crime they committed was failing to have proper papers. Papers please? Yep, that's the line from every Nazi movie ever made, isn't it?
The Nazi Party was also a Nationalist Party and aimed to stop the flow of immigrants that were stealing jobs and then moving towards deporting those who weren't "real Germans" before the moved on to cleansing the rest of the World at gunpoint. It took 25 years, from 1920 to 1945 for that cycle to top out – we're only in year two of the Trump Administration and we're already rounding up childeren – who's next?
Happy Easter by the way!
Meanwhile, over the weekend, our Trade War escalated as China fired back at Trump with tariffs at 128 US products like wine and frozen pork – matching Trump's 25% penalties and going into effect this morning.
“Even though China and the U.S. have not publicly said they are in a trade war, the sparks of such a war have already started to fly,” said an editorial in the Chinese tabloid Global Times, per Reuters.
Needless to say the markets have dropped off a bit this morning and that suits us just fine as we pressed our hedges into the weekend – just in case something like this happend. This is just round one as China's PMI hit a 4-month low (51) in March, down from 51.6 in February and below 50 is contraction so they can't afford to mess around and let the US dictate their trade policies.
Also notable this weekend is car manufacturer turned comic, Elon Musk, who tweeted this weekend (and I'm not fooling, but he was):
I'm sure his shareholders, who lost 25% of their value in March and found out this weekend that half (1/2) of all the cars Tesla has ever made are being recalled found this all very amusing. We've been shorting TSLA for quite some time and my reasons were summarized when they topped out last year:
Speaking of scams that are blowing up, BitCoin fell below $7,000 this weekend and we're waiting for $1,000 to buy back in on those. European markets are closed this morning for Easter and our Futures are drifting lower but nothing drastic so far. Trump has also been going after Amazon (AMZN) in tweets over the weekend and that mega-corp is down 2.5% so far.
It's a very meaningless day kicking off a very low-volume week and we're still watching the same bounce lines we were last week – a very watch and wait kind of day, on the whole.