My take is that Trump's market chaos is deliberate, a child of Milton Friedman's Shock Doctrine, where disaster makes fortunes for vultures. Charles Schwab's $2.5 BILLION haul made in a couple of days marks the looting ambitions of Trump's supporters who "want it all" (Paul Singer).
In 2011-12, Washington's favourite academic, Niall Ferguson, wrote the template for this strategy of splintering Europe in his Civilisation: Killer Apps TV series. It would "free up" wealth for his bandit mates.
Trump really is a narcissist. His hunger for attention consumes him. He has learned to feed his need with chaos, giving him the power to tell his audience to stay tuned to see how this turns out…and at the same time pretending world leaders must kiss his ass and kneel before him.
If rich people who have devoted their whole lives to fiddling about with financial instruments can get their calculations so wrong, one wonders what they could get right.
Perhaps a critical number of foreigners have ceased to associate "safety" with "USA".
Mario, why are you pro China. We have a trillion dollar trade deficit with them. Why are you rooting for China? With citizens like you who needs enemies.
A trillion dollar trade deficit is not sustainable. Why should we put up with it. The Chinese should negotiate like everyone else is doing. The EU and Canada also should negotiate. Trump wants fair trade. You think the Chinese are summarizing the US position? You think the EU cares about our farmers? This is a time where we need to stick together as Americans, assuming you are one. The Chinese are supporting their country and we should support ours.
Trump is rightly trying to get manufacturing back into the country, especially because we don’t even make our own antibiotics. Trump is trying to create jobs for people who don’t have college degrees but are great with their hands.
Welders, plumbers, electricians etc. we should all want that. Perhaps it won’t work, but doing what we’ve been doing for 50 years is surely not working.
I do agree with many of Trump's plans in his vision to fix America's problems. I am not 100% anti Trump. However, the flaws in what he claims are obvious. And the solutions he proposes are close to impossible. He is not telling the whole story, the U.S. govt continues to brainwash its people with propaganda rhetoric not reality. China's govt doesn't do that. Trump will continue favoring the wealthy in all his plans, he will protect the billionaires and the Zionist agenda, that's why whatever he tries to do will be half assed and fail. Blaming China along the way is just part of the endless rhetoric.
The difference is that Chinese have leaders have some idea what they’re doing. Not doubting Trumps superficial aims, but seriously doubting his competence, ability and strategy.
Those of us who are serious about trying to find a good future, find it useful to understand the Chinese position. In a democratic state we hope to have some contribution to make and so are keen to understand all the angles.
I appreciate that neither Trump not Xi want ordinary folk to have an opinion and would be happy for us to remain ignorant.
No sir, Trump was elected twice by the people and this last time he won all the swing states, got the popular vote and increased his support among Black, Latino and Asian voters.
Xi was not elected by the People and will never have to stand for any real election. If he lives he’ll still be President decades from now as he has for over 20 years.
It’s only in the Leftist mind where Trump is a dictator and the same as Xi, however not in reality. I do understand though that your sides push for “democracy” only applies when your side wins. If your side, in the US, EU, UK or Canada doesn’t win, then democracy is at risk.
As long as you get your way then there’s “democracy”. You can certainly have your opinion but if it’s not based in fact none of us have to go along with it. Trump has already been elected twice, by the People and this last time he got more support than the first time. Fact! Trump was elected by the People. Fact!
Xi and Trump are not the same and the US system is not a totalitarian state as is China. Fact.
Yes, I responded to you clearly, but I’m very clear how you folks work. Facts are a nuisance. I’m not changing your words. You’re more concerned about the Chinese than Americans. Assuming you’re an American I’m saying you’re wrong and clearly a puppet.
Is that not clear? Read what you wrote and what I responded with factual statements. If anything I stated was not true I’d like to know what that is. But yeah, have a good day.
I wouldn't say I am pro China, I am pro good policies, diplomacy and reason. The U.S. politicians and corporate executive sold their souls for billions while screwing American households for profits which they then turned around and used to line their own pockets and for spending on endless wars overseas. China didn't ask them to make those choices and put their own country in the situation it is now in. The deficit is their own creation and now they're saying "China did this to us, its China's fault taking advantage of us" Come on, that's ridiculous.
China cannot leave the room. China needs the US consumer as much as the US needs cheap goods. Again, you’re on the side of China. F China, I care about America and as an American you should too.
Hi Jin and thank you for jumping in with your thoughts. Well, in my case, I care about BOTH. My family is originally from Italy and immigrated to America. From America, I immigrated to China and have a Chinese / American child with a Chinese wife. I want to see all three countries prosper and care about all three. I have no particular reason to put America first. China is my home, China is where I will be buried when I die. I want to see both countries do well. As to whether or not China can exit the situation as I have described....you and I can now only watch and see what happens in the coming weeks and months....Cheers
I hope we can all negotiate and figure this out. You should want to put China first then, like I want to put America first. Thats does not preclude finding a solution that works for everyone. The last 80 yrs have now reached their endpoint and we need to find a new way forward.
There is no reason why America, Russia and China cannot work together while still maintaining their own sovereignty. We must think a new and act a new.
Oh, so you’re against rule by the people? Makes sense. The Leftist are always the same in The USSR, China, Cuba, Vietnam etc. Anyone who disagrees is either jailed or killed. Some how the hundreds of millions killed throughout the 20th century just were not enlightened enough.
So we are going to collapse? How about, “The walls are closing in!” That one always works perfectly. US bonds were probably saved from collapse by not electing another administration with insane spending policies like the last one.
Thank you for jumping in Michael. Indeed, I am not "against Trump" There are many important points in his agenda and finally cutting govt spending is the most obvious. The past 3 or so decades or corrupt spending endless kicking the can down the road has created a terrible situation for the entire society and state of the political system in Washington. It surely needs to be fixed and cutting out the excess and corrupt spending is a huge part of improving the situation. What a mess, I am deeply disheartened by it all these years. Cheers
This administration plans insane national revenue reduction by means of tax cuts of which the primary benefits will accrue to wealthy Americans. Just like he did last time Trump will increase our unsustainable national debt.
Trumps only plan is to continue the cuts from 45….which Biden extended for 4 yrs. Go ‘chicken little’ if you wish…they lied about Trump-Russia, Covid lab, Hunters Laptop, and dementia Joe- I’m going to wait for reality thanks.
No, Trump is not trying to cut the budget. In fact he’s asking for a large raise in the debt ceiling. He’s going after some parts of the budget but increasing others. It’s such a mess that Congressional Republicans, in their Reconciliation Measure, aren’t specifying exactly what would be cut.
I have an idea. Let’s not continue the tax cuts from 45. Let’s get more revenue, not less. Let’s also return to the IRS all the employees that the administration just fired. We need them so that the taxes can be collected and tax cheats held accountable.
While we’re raising more revenue in this way let’s also have our employee, the President, quit jetting off to Florida, to golf courses and sporting events. That would save us Americans millions in travel costs.
as to what is necessary government work or what actually could be considered “fraud” or “waste”. They’re being implemented simply to try to justify not only extending the 45 tax cuts but, later, to make more tax cuts. Again, these planned continued and new tax cuts will primarily accrue to the benefit of the wealthy.
The proposed and already implemented tariff taxes, which are regressive in nature (falling most heavily on the less well off people), actually have a similar goal, to justify tax cuts. The intent is to claim that the loss of revenue caused by tax cuts is offset by the tariff tax revenue. Nice trick, right? Reduce the tax “burden” on the wealthy and increase it on the less well off by means of tariff taxes.
Thank you for jumping in Linda, I agree with some of Trump's plans such as I must agree that govt fraudulent and corrupt spending cuts are hugely important and way overdue Yet Trump's plans are far from perfect and I know his favoring of the wealthy is going to continue....its very disturbing and I don't see any solution any time soon. Cheers
My bet is on you Linda. They have created an un winnable trade war, those who live in reality, whether left or right know we are well and truly fucked as long as this corrupt regime continues unabated. A lot more on the right are unwilling to delude themselves any longer to the reality that trump’s one big move, his decades long desire to impose massive tariffs that everyone in the world will willingly pay(not so fast, buddy!) is a world class stupidest move ever made by a president. He has no concept of how the economy even works. China has left the room, the building and the conversation. Laughing uproariously over their shoulders that an AMERICAN so called president could be so clueless and incompetent. You magats keep twisting yourselves in knots, waiting for “reality” to hit. We’ll just sit back and enjoy the show. And know that you are suffering just as much, but probably more, as your orange highness circles the drain. Knowing you backed the one guy the rest of the world figured out long ago was just as unfit as we always knew. And is a huge joke to be dunked on, every single day. 😁😁😁
Well. I have no debt. No stocks or bonds. I’m a millionaire. I pulled everything before captain batshit got back in office. Everything is in high interest savings, laddered CDs and t bills. I’m a millionaire. I’m not a consumer. Drive a 20 year old Lexus RX. Higher interest rates are fucking manna from heaven for me. 10 percent? 15 percent? Fantastic!
Trump has a plan as seen by actions to date & if his personality characteristics are taken into account across those actions, then there are some common elements that should already be warning USA as to the future of a revenge agenda at the end of life MAGA man’s underlying hate!
I don't know that its his hate as much as his just being terribly unreasonable because like so many elite Americans and politicians they live in their own limited bubble of thinking....
I am not adept at this but you make the point that Trump wants chaos because chaos scares the world into buying safe U.S. treasury bonds which will lower interest rates before the U.S. has to refinance trillions in debt.
Sounds reasonable but it is a complex plan. Are you sure Trump isn’t just doing what he can to feed his narcissistic desire for attention? Chaos gives him headlines…mission accomplished. Stay tuned to see what happens next…
There is no plan other than autarky which is so inanely stupid that it only leads to the chaos we’re experiencing. There’s no rationale because it’s based in fantasy. The market is reacting to chaos in the manner it collectively can make sense of the madness which, in shorthand is: “get the fuck out” before you’re burned beyond recognition.
Regarding deflationary spiral (ie unwdind of both financial assests and real business activity built on it), vs stagflation.... The FED + ECB + BOJ can in theory manipulate that tradeoff. Perhaps at the expense of outflow of capital however.
There's no question we are looking at a supply shock. And trade partners looking at a complementary demand shock. The former ofc is harder to fix by making money appear.
I think likelyhood of US (+ closely coupled allies) being forced to some form of austerity in material terms. Distributed unevenly tho. Some holders of wealth may come away with even more. Back of the line: middle class, imperial periphery like EU/JP.
My take is that Trump's market chaos is deliberate, a child of Milton Friedman's Shock Doctrine, where disaster makes fortunes for vultures. Charles Schwab's $2.5 BILLION haul made in a couple of days marks the looting ambitions of Trump's supporters who "want it all" (Paul Singer).
In 2011-12, Washington's favourite academic, Niall Ferguson, wrote the template for this strategy of splintering Europe in his Civilisation: Killer Apps TV series. It would "free up" wealth for his bandit mates.
https://www.annachen.co.uk/china/shakedown/niall-ferguson-tv-review/
Trump really is a narcissist. His hunger for attention consumes him. He has learned to feed his need with chaos, giving him the power to tell his audience to stay tuned to see how this turns out…and at the same time pretending world leaders must kiss his ass and kneel before him.
That is candy for a narcissist
If rich people who have devoted their whole lives to fiddling about with financial instruments can get their calculations so wrong, one wonders what they could get right.
Perhaps a critical number of foreigners have ceased to associate "safety" with "USA".
Quite rightly.
Mario, why are you pro China. We have a trillion dollar trade deficit with them. Why are you rooting for China? With citizens like you who needs enemies.
Summarising the position of China is not siding with them.
Delusional statements that bear no relation to reality is the strongest support you can give.
A trillion dollar trade deficit is not sustainable. Why should we put up with it. The Chinese should negotiate like everyone else is doing. The EU and Canada also should negotiate. Trump wants fair trade. You think the Chinese are summarizing the US position? You think the EU cares about our farmers? This is a time where we need to stick together as Americans, assuming you are one. The Chinese are supporting their country and we should support ours.
Trump is rightly trying to get manufacturing back into the country, especially because we don’t even make our own antibiotics. Trump is trying to create jobs for people who don’t have college degrees but are great with their hands.
Welders, plumbers, electricians etc. we should all want that. Perhaps it won’t work, but doing what we’ve been doing for 50 years is surely not working.
I do agree with many of Trump's plans in his vision to fix America's problems. I am not 100% anti Trump. However, the flaws in what he claims are obvious. And the solutions he proposes are close to impossible. He is not telling the whole story, the U.S. govt continues to brainwash its people with propaganda rhetoric not reality. China's govt doesn't do that. Trump will continue favoring the wealthy in all his plans, he will protect the billionaires and the Zionist agenda, that's why whatever he tries to do will be half assed and fail. Blaming China along the way is just part of the endless rhetoric.
Crikey. You do have a problem don’t you!
The difference is that Chinese have leaders have some idea what they’re doing. Not doubting Trumps superficial aims, but seriously doubting his competence, ability and strategy.
Those of us who are serious about trying to find a good future, find it useful to understand the Chinese position. In a democratic state we hope to have some contribution to make and so are keen to understand all the angles.
I appreciate that neither Trump not Xi want ordinary folk to have an opinion and would be happy for us to remain ignorant.
No sir, Trump was elected twice by the people and this last time he won all the swing states, got the popular vote and increased his support among Black, Latino and Asian voters.
Xi was not elected by the People and will never have to stand for any real election. If he lives he’ll still be President decades from now as he has for over 20 years.
It’s only in the Leftist mind where Trump is a dictator and the same as Xi, however not in reality. I do understand though that your sides push for “democracy” only applies when your side wins. If your side, in the US, EU, UK or Canada doesn’t win, then democracy is at risk.
As long as you get your way then there’s “democracy”. You can certainly have your opinion but if it’s not based in fact none of us have to go along with it. Trump has already been elected twice, by the People and this last time he got more support than the first time. Fact! Trump was elected by the People. Fact!
Xi and Trump are not the same and the US system is not a totalitarian state as is China. Fact.
"Fact! Trump was elected by the People. Fact!" … tells more about "the People" than anything else …
Did you post a reply you intended to for somewhere else?
You seem to be intent on changing the subject.
I won’t repeat myself because I don’t believe others will misinterpret my words in the same way.
I believe the paradox at the heart of your views is also easy to spot.
Have a good day.
Yes, I responded to you clearly, but I’m very clear how you folks work. Facts are a nuisance. I’m not changing your words. You’re more concerned about the Chinese than Americans. Assuming you’re an American I’m saying you’re wrong and clearly a puppet.
Is that not clear? Read what you wrote and what I responded with factual statements. If anything I stated was not true I’d like to know what that is. But yeah, have a good day.
I wouldn't say I am pro China, I am pro good policies, diplomacy and reason. The U.S. politicians and corporate executive sold their souls for billions while screwing American households for profits which they then turned around and used to line their own pockets and for spending on endless wars overseas. China didn't ask them to make those choices and put their own country in the situation it is now in. The deficit is their own creation and now they're saying "China did this to us, its China's fault taking advantage of us" Come on, that's ridiculous.
China cannot leave the room. China needs the US consumer as much as the US needs cheap goods. Again, you’re on the side of China. F China, I care about America and as an American you should too.
Hi Jin and thank you for jumping in with your thoughts. Well, in my case, I care about BOTH. My family is originally from Italy and immigrated to America. From America, I immigrated to China and have a Chinese / American child with a Chinese wife. I want to see all three countries prosper and care about all three. I have no particular reason to put America first. China is my home, China is where I will be buried when I die. I want to see both countries do well. As to whether or not China can exit the situation as I have described....you and I can now only watch and see what happens in the coming weeks and months....Cheers
I hope we can all negotiate and figure this out. You should want to put China first then, like I want to put America first. Thats does not preclude finding a solution that works for everyone. The last 80 yrs have now reached their endpoint and we need to find a new way forward.
There is no reason why America, Russia and China cannot work together while still maintaining their own sovereignty. We must think a new and act a new.
Oh, so you’re against rule by the people? Makes sense. The Leftist are always the same in The USSR, China, Cuba, Vietnam etc. Anyone who disagrees is either jailed or killed. Some how the hundreds of millions killed throughout the 20th century just were not enlightened enough.
So we are going to collapse? How about, “The walls are closing in!” That one always works perfectly. US bonds were probably saved from collapse by not electing another administration with insane spending policies like the last one.
Thank you for jumping in Michael. Indeed, I am not "against Trump" There are many important points in his agenda and finally cutting govt spending is the most obvious. The past 3 or so decades or corrupt spending endless kicking the can down the road has created a terrible situation for the entire society and state of the political system in Washington. It surely needs to be fixed and cutting out the excess and corrupt spending is a huge part of improving the situation. What a mess, I am deeply disheartened by it all these years. Cheers
This administration plans insane national revenue reduction by means of tax cuts of which the primary benefits will accrue to wealthy Americans. Just like he did last time Trump will increase our unsustainable national debt.
Trumps only plan is to continue the cuts from 45….which Biden extended for 4 yrs. Go ‘chicken little’ if you wish…they lied about Trump-Russia, Covid lab, Hunters Laptop, and dementia Joe- I’m going to wait for reality thanks.
Is Trump trying to cut the budget or not? Biden blew a hole in it for no good reason. There are two parts: revenue and spending.
No, Trump is not trying to cut the budget. In fact he’s asking for a large raise in the debt ceiling. He’s going after some parts of the budget but increasing others. It’s such a mess that Congressional Republicans, in their Reconciliation Measure, aren’t specifying exactly what would be cut.
I have an idea. Let’s not continue the tax cuts from 45. Let’s get more revenue, not less. Let’s also return to the IRS all the employees that the administration just fired. We need them so that the taxes can be collected and tax cheats held accountable.
While we’re raising more revenue in this way let’s also have our employee, the President, quit jetting off to Florida, to golf courses and sporting events. That would save us Americans millions in travel costs.
Tell that to all the Beltway bandits moaning about their cancelled contracts. I would appreciate that.
Really? I was instructed to cut $1.7 billion the other day. And that was a microcosm of the entire department.
as to what is necessary government work or what actually could be considered “fraud” or “waste”. They’re being implemented simply to try to justify not only extending the 45 tax cuts but, later, to make more tax cuts. Again, these planned continued and new tax cuts will primarily accrue to the benefit of the wealthy.
The proposed and already implemented tariff taxes, which are regressive in nature (falling most heavily on the less well off people), actually have a similar goal, to justify tax cuts. The intent is to claim that the loss of revenue caused by tax cuts is offset by the tariff tax revenue. Nice trick, right? Reduce the tax “burden” on the wealthy and increase it on the less well off by means of tariff taxes.
Thank you for jumping in Linda, I agree with some of Trump's plans such as I must agree that govt fraudulent and corrupt spending cuts are hugely important and way overdue Yet Trump's plans are far from perfect and I know his favoring of the wealthy is going to continue....its very disturbing and I don't see any solution any time soon. Cheers
The current “cuts” are not based in any reality
I work in the government. He’s trying to cut the government. Again, reality strikes.
Your faith is touching. However it does not reflect reality (see my previous comment).
My bet is on you Linda. They have created an un winnable trade war, those who live in reality, whether left or right know we are well and truly fucked as long as this corrupt regime continues unabated. A lot more on the right are unwilling to delude themselves any longer to the reality that trump’s one big move, his decades long desire to impose massive tariffs that everyone in the world will willingly pay(not so fast, buddy!) is a world class stupidest move ever made by a president. He has no concept of how the economy even works. China has left the room, the building and the conversation. Laughing uproariously over their shoulders that an AMERICAN so called president could be so clueless and incompetent. You magats keep twisting yourselves in knots, waiting for “reality” to hit. We’ll just sit back and enjoy the show. And know that you are suffering just as much, but probably more, as your orange highness circles the drain. Knowing you backed the one guy the rest of the world figured out long ago was just as unfit as we always knew. And is a huge joke to be dunked on, every single day. 😁😁😁
Well. I have no debt. No stocks or bonds. I’m a millionaire. I pulled everything before captain batshit got back in office. Everything is in high interest savings, laddered CDs and t bills. I’m a millionaire. I’m not a consumer. Drive a 20 year old Lexus RX. Higher interest rates are fucking manna from heaven for me. 10 percent? 15 percent? Fantastic!
Trump has a plan as seen by actions to date & if his personality characteristics are taken into account across those actions, then there are some common elements that should already be warning USA as to the future of a revenge agenda at the end of life MAGA man’s underlying hate!
I don't know that its his hate as much as his just being terribly unreasonable because like so many elite Americans and politicians they live in their own limited bubble of thinking....
I am not adept at this but you make the point that Trump wants chaos because chaos scares the world into buying safe U.S. treasury bonds which will lower interest rates before the U.S. has to refinance trillions in debt.
Sounds reasonable but it is a complex plan. Are you sure Trump isn’t just doing what he can to feed his narcissistic desire for attention? Chaos gives him headlines…mission accomplished. Stay tuned to see what happens next…
There is no plan other than autarky which is so inanely stupid that it only leads to the chaos we’re experiencing. There’s no rationale because it’s based in fantasy. The market is reacting to chaos in the manner it collectively can make sense of the madness which, in shorthand is: “get the fuck out” before you’re burned beyond recognition.
Spot on.
Regarding deflationary spiral (ie unwdind of both financial assests and real business activity built on it), vs stagflation.... The FED + ECB + BOJ can in theory manipulate that tradeoff. Perhaps at the expense of outflow of capital however.
There's no question we are looking at a supply shock. And trade partners looking at a complementary demand shock. The former ofc is harder to fix by making money appear.
I think likelyhood of US (+ closely coupled allies) being forced to some form of austerity in material terms. Distributed unevenly tho. Some holders of wealth may come away with even more. Back of the line: middle class, imperial periphery like EU/JP.
And they hold more cards than Trump.
It’s good that only a few people read this claptrap. What a dope.