Financial sanity has reached rock bottom on both ends of the Acela Corridor.
For his part, the Donald has obviously gone flat-out berserk on the China trade front with his latest threat to slam $200 billion of Chinese goods with a 10% tariff. Of course, that’s in response to Beijing’s $50 billion retaliation for the Donald’s original plan to put a 25% tariff on $50 billion of Chinese goods as punishment for the Red Ponzi’s dastardly deeds in global commerce.
At the same time, the Donald also made clear he’s not kidding. Hanging out of his back pocket is a second $200 billion of Trumpian tariff goodness to be activated if Mr. Xi even dares to make the Donald’s day by retaliating against his first $200 billion of retaliation.
You could say that the Donald has been watching too many Clint Eastwood movies and be done with it—or at least go out and buy today’s dip.
That’s what the talking heads of bubblevision are saying. By their lights, this latest burst of Oval Office madness is nothing to get agitated about— it’s just high stakes poker and the Donald’s got the winning hand because they sell us $5o5 billion per year, whereas the US exports only $130 billion to China.
And that get’s us to our theme: What in the world are these people smoking?!
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