MAGA is not the only thing the Donald is delusional about. For example, he thought the dip-buying robo-machines were heralding Trump-O-Nomics, when they were merely chasing chart points higher—until the moving averages turned negative.
Likewise, he apparently believes that Xi Jinping is his friend and that America’s hideous $504 billion-to-$130 billion import/export imbalance with China can be remedied by the Art of the Deal. Why, the Donald even said so himself—professing great optimism about a deal at today’s White House press conference.
Then again, those horrible trade figures are the result of rampant central bank stimulus in Washington and Beijing, cost inflation and debt-binging in America, mercantilism and state economic control in China and the corruption of free trade by bad money all around.
Anyway, we don’t think Mr. Xi has been boning-up on the virtues of freer trade with America—notwithstanding his recent “open markets” speech to a hothouse forum of foreign supplicants seeking new opportunities to be parted from their money in China.
Instead, we’d guess that a speech he gave on Tuesday to the Politburo was more to the point. And by your way, the following was delivered while he was chairing a study session on Marx and Engel’s famed economic treatise, otherwise known as “The Communist Manifesto”!
Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, has stressed the importance to study the Communist Manifesto.
The purpose of reviewing the Communist Manifesto is to understand and grasp the power of the truth of Marxism and write a new chapter of socialism with Chinese characteristics in the new era, Xi said Monday when presiding over a group study session of the Political Bureau of the CPC Central Committee.
The ability of the whole Party to solve the practical problems of contemporary China with the basic principles of Marxism should be enhanced.
It’s necessary to “apply the scientific principles and the spirit of The Communist Manifesto to the overall planning of activities related to the great struggle, great project, great cause, and great dream,” he said, calling The Communist Manifesto a monumental work that has a scientific perspective on the development of human society and was written to benefit the people and seek liberation for humanity.
That, and I’ll see your 179% sorghum tariff and raise you with a ban on imported chop sticks and other products threatening to America’s national security.
In other words, the Donald is busy doing what is his job #1. That is, disrupting all that comes across his plate, and most especially as it relates to the Washington fiscal debacle that is metastasizing by the day.