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.

Deal?

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?

Attacking Symptoms

Trade imbalances are a symptom of the problem. Attacking symptoms cannot possibly work.

RECOMMENDED ARTICLES

The problem is we have unfettered monetary printing globally, with no controls anywhere. This all started the moment Nixon closed the gold window.​

Image placeholder title

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

Image placeholder title

Everything Under Control?

If you don't think so, buy gold.

Mike "Mish" Shedlock

Halleluiah! Trump Says Trade Talks "Back on Track"

Trade with China talks are "back on track". But what track is that?

Hyperinflationists Come Out of the Woodwork Again

CoinDesk asked me to share my opinions on the chance of hyperinflation. My thoughts are below.

Mission Impossible: Tariffs Didn't Reduce the Trade Deficit (Deals Won't Either)

Trump is on an impossible mission. Tariffs will not reduce the trade deficit and will likely make matters worse.

Apple in Trump's Trade Crosshairs as China and US Agree to More Talks

Stocks staged an afternoon rally reversing early losses after China and Trump agreed to more talks.

Lie of the Day: Trump Hikes China Tariffs By 10%, Says "Trade Talks On Track"

Trump says trade talks with China are on track for September. Tariff hikes are proof they aren't. Stocks reversed.

US Trade Talks With China Collapse: No Further Talks Scheduled

Either Trump backs down from repeated threats or more tariffs are coming as talks with China collapse.

China May Cancel Trade Talks if Trump Extends Tariffs

After Trump reached out to China offering trade talks, he then gave the go-ahead for more tariffs. China may back out.

China Cancels Trade Talks, Trump Optimistic

In response to Trump's imposition of more tariffs, China responded with tariffs of its own and walked out of talks.

Stocks Rattled on Trade Talks: Full-Blown Trade War Becomes Base Case

Once again the trade war with China is the headline story of the day. What's the base case?