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Futures recovered from an overnight dip on news Trump Seeks to Ease Tensions With China, G-7.

Mr. Trump on Monday said the U.S. negotiations with China were “much more meaningful than at any time.” Asked if he would consider delaying or canceling planned tariffs on China, he replied: “Anything’s possible.”

In softening his rhetoric, Mr. Trump also sowed some confusion. Mr. Trump said China had called U.S. officials on the previous evening and said “let’s get back to the table.” The spokesman for the Chinese Foreign Ministry, Geng Shuang, said he was “not aware of” such a phone call by China to the U.S.

A spokesman for the U.S. Trade Representative didn’t respond to questions about when the call took place and between whom.

Asked later in the day to clarify whom the calls were with, Mr. Trump said: “I don’t want to talk about calls. We’ve had calls. We’ve had calls at the highest levels.”

4-D Chess Not

Does anybody remotely believe the above synopsis as describe by Trump?

It's not 4-D chess, nor 3-D chess, nor any kind of chess as I have commented numerous times.

Tom Luongo has an excellent writeup on the subject.

Please consider Trump's Not A 4-D Chess-Player, He's A Very Simple Creature

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If you listen to Trump carefully, seeing him for what he is not what you think he is, what you want him to be or, most importantly, what he wants you to see, you hear a man who fully believes the Fed controls the economy.

You hear a man that firmly believes in the power of the government to remake the world in whatever image it wants, whenever it wants. You hear a man so solipsistic he can only see the world in terms he defined more than thirty years ago.

You hear a man who fundamentally doesn’t believe trade results in both sides winning but that everyone either wins a deal or loses. If he didn’t extract maximum pain from the other side he ‘lost.’ It’s the source of Trump’s inherent mercantilism.

And that fault in Donald Trump’s character is leading him to ever more extreme behavior as he refuses to reconcile the world we have versus the world he wants. So he keeps pressuring, embarrassing and humiliating people he wants to make deals with. And when they refuse to do so, he explodes and, like a child who didn’t get his cookie, uses the power of the Presidency to still try to get what he wants.

Trump’s not a multi-dimensional analyst. He isn’t a 4-d chess player. He’s actually a very simple creature. He believes the crap spewed by CNBC. He’s hired advisers who worked there for pity’s sake.

​Liar's Poker

Trump has changed his tone on China at least three times in the last three days. He's been promising a deal with China for a year or so.

There's nothing "meaningful" about any of this.

It's a liar's poker game Trump is playing to get reelected.

Anyone with a bit of commons sense can see Trump is a very poor liar.

Mike "Mish" Shedlock