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The Mass Market Meltdown ...

Started by Rod Kaufman, 08/06/2019 08:21AM
Posted 08/06/2019 08:21AM Opening Post
The worst of the year, nearly a 1000 point drop on top of what happened last week.
"We have a trade situation that is going off the rails," Peter Boockvar, chief investment officer at Bleakley Advisory Group, wrote in a note to clients on Monday. "The policy of using tariffs as a tool to address our legitimate beefs with the Chinese has failed miserably."
David Kotok, co-founder and chief investment officer of investment firm Cumberland Advisors, told CNN Business that "this stupid tariff war we're having" is raising the risk of a recession.
The Chamber of Commerce warned last week that these new tariffs "will only inflict greater pain on American businesses, farmers, workers and consumers, and undermine an otherwise strong US economy."
America's farmers won't get relief any time soon. China's Commerce Ministry confirmed that Chinese companies have halted purchases of US agricultural products.
FDIC Chairman Jelena McWilliams told CNN Business last week that the agency is "monitoring very closely" how banks in farm states are being impacted by the trade war.
"We may experience more delinquencies, which then become very difficult for those communities and our ag sector," McWilliams said.
"China is taking a darker and more cynical view of Trump's objectives with China," said Michael Hirson, Eurasia Group's practice head of China and Northeast Asia. "They're becoming increasingly pessimistic about their ability to steer Trump away from further escalation."
The bottom line? Trump's trade policy with China is an utter failure and it may very well lead to a recession sooner rather than later...
Posted 08/06/2019 08:43AM #1
Originally Posted by Rod Kaufman
The worst of the year, nearly a 1000 point drop on top of what happened last week.
"We have a trade situation that is going off the rails," Peter Boockvar, chief investment officer at Bleakley Advisory Group, wrote in a note to clients on Monday. "The policy of using tariffs as a tool to address our legitimate beefs with the Chinese has failed miserably."
David Kotok, co-founder and chief investment officer of investment firm Cumberland Advisors, told CNN Business that "this stupid tariff war we're having" is raising the risk of a recession.
The Chamber of Commerce warned last week that these new tariffs "will only inflict greater pain on American businesses, farmers, workers and consumers, and undermine an otherwise strong US economy."
America's farmers won't get relief any time soon. China's Commerce Ministry confirmed that Chinese companies have halted purchases of US agricultural products.
FDIC Chairman Jelena McWilliams told CNN Business last week that the agency is "monitoring very closely" how banks in farm states are being impacted by the trade war.
"We may experience more delinquencies, which then become very difficult for those communities and our ag sector," McWilliams said.
"China is taking a darker and more cynical view of Trump's objectives with China," said Michael Hirson, Eurasia Group's practice head of China and Northeast Asia. "They're becoming increasingly pessimistic about their ability to steer Trump away from further escalation."
The bottom line? Trump's trade policy with China is an utter failure and it may very well lead to a recession sooner rather than later...
Rod, did he offer any solution to the problem or just whine?

Darian R.
Posted 08/06/2019 09:13AM #2
Originally Posted by Darian Rachal

Rod, did he offer any solution to the problem or just whine?
Darian, I don't know who the "He" is that you're referring to since I've quoted multiple sources in my post.If you're not simply trolling, the short answer to your flippant post is neither. Nor is it up to any of the quoted sources to create a policy statement on their own. You want a potential solution? Go with Biden because he's the only candidate thus far that wants to form a global partnership against China's economic policies, unlike the go it alone and get screwed approach of your leader.
Now, if you want any further response from me, stop the trolling and think about what you write before you post it...
Posted 08/06/2019 10:46AM #3
Originally Posted by Rod Kaufman

Darian, I don't know who the "He" is that you're referring to since I've quoted multiple sources in my post.If you're not simply trolling, the short answer to your flippant post is neither. Nor is it up to any of the quoted sources to create a policy statement on their own. You want a potential solution? Go with Biden because he's the only candidate thus far that wants to form a global partnership against China's economic policies, unlike the go it alone and get screwed approach of your leader.
Now, if you want any further response from me, stop the trolling and think about what you write before you post it...
Rod, did the part I put in bold not show up in my response? 

"We have a trade situation that is going off the rails," Peter Boockvar, chief investment officer at Bleakley Advisory Group, wrote in a note to clients on Monday. "The policy of using tariffs as a tool to address our legitimate beefs with the Chinese has failed miserably."

I simply asked if the fellow offered a solution to the China problem other than to criticize Trump.

Darian R.
Posted 08/06/2019 11:51AM #4
Here are the idiots for the trolls to ponder:
https://www.foxbusiness.com/economy/trump-china-currency-manipulation
and:
https://www.foxbusiness.com/economy/trumps-china-tariffs-not-affecting-us-consumer-prices-white-house-trade-adviser
No wonder the markets are going south...
Posted 08/06/2019 04:44PM #5
Originally Posted by Rod Kaufman

Darian, I don't know who the "He" is that you're referring to since I've quoted multiple sources in my post.If you're not simply trolling, the short answer to your flippant post is neither. Nor is it up to any of the quoted sources to create a policy statement on their own. You want a potential solution? Go with Biden because he's the only candidate thus far that wants to form a global partnership against China's economic policies, unlike the go it alone and get screwed approach of your leader.
Now, if you want any further response from me, stop the trolling and think about what you write before you post it...

LOL....ok Rod replace "He" with "THEY"......and answer the question smile

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