U.S. President Donald Trump said on Wednesday his life would be easier if he had not mounted a trade war with China but said “I am the chosen one” to take on Beijing.

Chosen One Considers Options to Spur Economy

Yesterday, the chosen one said he was Considering Options to Spur the Economy.

Executive Order

Bloomberg reported Trump Says He Can Order Capital Gains Tax Break Without Congress.

President Donald Trump said he can cut taxes by indexing capital gains to inflation without congressional approval, a move the White House has been considering for months that would largely benefit the wealthy.

“We’ve been talking about indexing for a long time,” Trump told reporters at the White House on Tuesday. “And many people like indexing and it could be done very simply. It could be done directly by me.”

This was despite the fact the "economy is very strong"

Chosen One Reverses Course

Today, the Wall Street Journal reports In Reversal, Trump Says He Is No Longer Considering Tax Cuts

“I’m not looking at a tax cut now,” Mr. Trump said in comments to reporters on the South Lawn of the White House. “We don’t need it. We have a strong economy.”

Full Circle in a Day


Well, that took all of one day to go full circle.

Economy So Strong That

The economy is so strong that Trump continually heaps more pressure on Powell to cut rates.

Doing Great With China

Please note that the US is "Doing great with China and other trade deals".

We have been doing "great" with China on and off for at least a year. Today, I see things are "great" again. How refreshing.

What else?

Things are going so well with Japan that it will now take huge tariff cuts by Japan just for the US to break even with where we could have been relative to Australia and Canada.

For details, please see Another Trump Trade Fiasco, This Time With Japan.

Doing great with China is of course expected.

After all, Trump is the chosen one. And the chosen one has spoken.

Mike "Mish" Shedlock

Trump Reverses One-China Stance: What Happened?

In a phone call to Chinese President Xi Jinping, President Donald Trump backed down on prior threats that everything was on the table. In his latest reversal, Trump backs ‘One China’ policy.

Has Trump Inflicted Enough Pain Upon Himself Yet?

The Wall Street Journal asks a question, the wrong one. I reworded the question above.

Xi Addresses China (and Trump): "No One Can Dictate to China"

Chinese President Xi Jinping addressed China today in a defiant tone that appears aimed as much at the US as China.

Venezuelan Opposition Leader Declares Himself Interim President: Trump Agrees

Venezuelan opposition leader Juan Guaidó declares himself interim president. Trump agrees via Tweet.

China Tells Trump “Nothing to Discuss” If US Drops “One China” Policy

Donald Trump’s phone call to Taiwan following the election, and more recent statements regarding a “One China” policy, have both disturbed leaders in Beijing.

Whistleblower Leak Source Is Likely Trump Himself

Looking for leaks? Consider the number of people Trump has in the room when he makes calls as well as the phone itself.

Trump Blames Everyone but Himself for Business Slowdown

Trump chastised poor corporate management and the Fed once again for what ails businesses.

Trump "Boom" in One Picture

Deficits have only been at this level in or shortly after a recession. Unfortunately, this is the new normal.

Trump Says Consumers Can "Very Easily" Take a 10% Tariff Hit on Goods from China

Farm bankruptcies are on the rise and Apple is struggling with falling sales but more tariffs are coming says Trump.