Trump Calls Jay Powell Clueless
Enormous Mistakes
Still Winning Big
Despite the mistakes we are still “winning big”.
Supposedly we are raking in billions.
So Why Panic?
One has to wonder why, if we are winning big, and taking in billions, Trump Chickens Out, Delays Trade War Tariffs to Save Holiday Season.
One Hit Wonder
Yesterday stocks rose about 1.5% on news of the tariff suspension.
Today’s Carnage
- S&P 500 Futures: -96 Points, – 3.3%
- Nasdaq 100: -238 Points, -3.1%
- Dow: -800 Points, -3.1%
Clearly, this is winning big. How else can one possibly describe the situation?
Long Bond Screaming Recession
That one-day wonder was even faster than I expected.
Here’s the message: Recession.
Meanwhile, note that a Global Manufacturing Recession has started and Trump’s tariff policy made matters much worse.
Note that the normal Lead Time Between Manufacturing Recessions and Full Recessions is zero quarters.
A recession may have started already.
Recession Evidence?
Evidence of a recession isn’t necessary. History suggests evidence will only be disclosed in arrears, via backward revisions of economic data.
Question of the Day
Mike “Mish” Shedlock
Arguably dumbest president ever is calling a well-educated,accomplished lawyer and financier “clueless”. Once again, Donald is talking his book. Fuck off, Trump, you ignorant, greedy cunt.
You will have to fight Mish for Trump’s love. You and Mish both have the hots for the same man!
I find trump’s communication makes a lot more sense if you hum circus music while contemplating it.
And of course today the Chinese decided to not play DT’s game and attacked a weakened opponent. DT was trying to get the Chinese to “import more agricultural products” instead he got “we will impose our own tariffs…” This will not end well!
Mish: “Yeah right Let’s judge everything on the stock market”
No, lets write a dozen posts about the Treasury bond market and yield curves — and judge everything based on Mish being a former equities guy
Mish : “Yeah right Let’s judge everything on the stock market”
No, lets write a dozen posts about the bond market and the yield curve inverting instead
“Getting excited about the stock market on one day is a waste of effort. Rather, let’s look at the average market return under various presidents, from election until their successor: Reagan: +3.3% a year Bush, Sr: +11.0% a year Clinton: +12.1% a year Bush, Jr: -1.35 a year Obama: +9.0% a year Trump (up to and including today): +11.9% a year”
Yeah right
Let’s judge everything on the stock market
Just like 2007, 2000, and 1928
Anyone who thinks I will support impeachment of Trump doesn’t have mush for brains – they have no brains.
Don’t reply to trolls, the whole chain will be deleted
Every time I see trump with his “WINNING” tweets and taunts it reminds me of when Charley Sheen went of the rails..If Trump starts talking about drinking Tiger Milk we are all doomed…
Farmers in Iowa don’t think like retired bloggers in Chicago
https://www.wsj.com/articles/iowa-farmers-stick-with-trump-despite-trade-war-11565775003
You do realize those farmers have been getting checks from the Trump administration at a higher rate than other Presidents. Why wouldn’t they support him ? They are getting bailed out every month. Trump is buying votes. If he sends a nice check to me every month I would vote for him too. Maybe he will just send checks to everyone and that will be enough.
How much is this per vote ? Anyone ?
More here.. The bailout is what is keeping them supporting Trump. Nice check if you can get it.
Trump is a socialist.
The farmers are socialists !
When the electorate have insensibly turned bulls loose in the government china shop, wagging a finger at those bulls and insisting they all go back to the pasture is neither good tactics nor sound strategy. On such a sea are we now afloat…
Yesterday, Dems threaten and intimidate the Supreme court with packing it Today, the president threatens and intimidates the Fed Chairman.
We, the people, should be demanding better.
Powell is an idiot for taking on the job of Fed Chairman right at the point of monetary system implosion. Trump is an idiot for far too many reasons to even begin to mention. Both of them deserve each other and the Gold price explosion they will bring about.
“Markets” are never supposed to go down……ever!Central banks and there ability to grow field after field of money trees and (print)pick dollars off it literally at will have prevented any type of correction….forever!The feds magical printing presses are working their magic……until they’re not!
Getting excited about the stock market on one day is a waste of effort. Rather, let’s look at the average market return under various presidents, from election until their successor:
Reagan: +3.3% a year
Bush, Sr: +11.0% a year
Clinton: +12.1% a year
Bush, Jr: -1.35 a year
Obama: +9.0% a year
Trump (up to and including today): +11.9% a year
When you point out facts like that, it makes it impossible to keep yelling how the sky is falling and its all Trumps fault. The facts make it seem like its just more of the same
I’m no wiser for looking at those stats. The stock market performance has precisely zero to do with sitting President, I’ll tell you that for nothing.
Carl lets not forget that DT created one of the largest Keynesian stimulus package by cutting taxes and not cutting expenses. US government has been running a massive deficit thanks, in part, to the tax cuts. That explains the strength of the US stock market, the money has nowhere else to go!
Most recent Presidents have run massive deficits, so in that regard DT is no different from the others.
Let’s see, the US is pissed at Iran. Taking a page out of W’s playbook, it’s time to invade Bahrain.
We are not going to be invading anybody, and everyone knows it. Our small, “volunteer” military is completely exhausted after 18 years of constant, pointless war. The most we can do to any of our far-too-many enemies at this point is to be a nuisance. Cruise missile strikes and stealth bombing raids will not bring Uncle Scam’s adversaries to heel. Not a chance.
Yep. Who knew that treating personnel like garbage and spending their time, money, and effort on shiny, expensive boondoggles would have negative consequences down the road?
Everybody knows the US MIC has been run like a short sighted corporation for decades, which is why Iran keeps calling our bluff. People who still blindly support .mil are either clueless or actually enjoy the corruption.
Again… he is adding a 10% tariff to $100B of NEW products on 9/1. So he only partially “chickened out”. I am not a fan of his. Simply pointing out inaccurate statement and policy that could have been partially responsible for today’s (and probably tomorrow’s) sell off.
It is interesting that many people, including the entire investment community (folks a lot smarter and richer than I) try to predict conditions based on DT’s comments and behavior when the evidence shows his actions are random. Like trying to pick out trends in a table of random numbers. You can find them, but they are meaningless.
Trump and Powell are both clueless. The ton of debt that Trump has helped add to our national debt problem sure as hell isn’t helping the situation. And cutting interest rates and encouraging more borrowing only makes it worse. I really wonder about Trump right now. Lots of mouth and not much brains.
The deficit doesn’t matter. It won’t matter as long as other countries are willing to accept payment in USD. We could buy up the entire national debt and pay it off if we wanted to.