Trump’s used Chapter 11 bankruptcy on at least 6 occasions in the past. Why would anybody think he’d have a clue about basic economics, let alone the global markets?
Trump's philosophy seems to be that the world needs the US more than the US needs the world. It is the dream of the American homesteader to be self-sufficient and live off-grid with a shotgun to keep uppity neighbours at bay.
Just like Brexit, the nationalistic ignorance that Europe, 375m people needed us more than us, 65m. Sovereignty, borders, etc etc. global economy doesn’t care about borders
It seems to be a general rule that when one member of a society decides to hold the rest to ransom the other members find some way to neutralise him. There is always safety in numbers!
I'm sure he's arranged to profit handsomely from the turmoil he's caused; he doesn't give a gnat's turd about the little people being destroyed; he's getting sexual pleasure from the sense of power and the capitulation of CEOs and premiers; the long-term effects on the USA are a positive incentive - he can sit in his soiled diapers in his golden Florida toilet, cackling "Weak!" at the struggle of future presidents with the wasteland he created. Where is 007 when you need him?
Future presidents? Are you joking. No more presidents you'll soon find out. He's shown how fragile US law, the constitution, opposition, the house, the senate, enforcement, media, ceos, tech, and more are. Nothing around to save America's dark path. Only Americans can oust him in the face of autocracy. When will momentum rise?
It is always surprising to discover how much good government relies on office holders following the "good guy" principles - respecting morality and basic human values! No constitution can stand if no holds are barred.
“I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody.” - James Carville
It’s an oligarch’s scam Lewis, surely. They’ll keep the chaos going so they can make the best financial gains they can from market volatility. Thank God there are cool-headed strategists, like Carney, who know the financial system inside out and can out manoeuvre the USA’s dictator.
He seems to understand - some will say has been coached - on how toothless the so-called checks and balance of the US Constitution are when you effectively control all the levers of power through political and frighteningly acolyte
I'd argue strongly that this is deliberate on 2 fronts. Firstly, he's creating the perfect environment for insider trading with these market fluctuations, and secondly he has $Trump, a mechanism for payments to be channeled to him completely anonymously (bribery, anybody….) Sincerely hope someone with the technical capability is following the money!
I think there's a misreading of the fall in bond prices - there isn't some worldwide aversion to US debt (and certainly not a punitive sell off by the Chinese government), it's purely the mechanical effect of the crash in equities - hedge funds which are highly leveraged and own a lot of equities are having to sell Treasuries for liquidity and to cover losses and margin calls. This has all happened very quickly - Treasuries went up in value last week as funds bailed out of equities into debt, then have come down this week as they have a desperate need for cash. No great geopolitical explanation - yet.
So you don’t buy the wider argument Phil that the US will be seen as increasingly toxic as an investment destination and that this will impact US treasury as it refinances its debt? I think it makes sense. Who would invest in the US right now? Lots of other great places in the world to do business.
That may well happen, obviously investment in the US will be suppressed because of uncertainty over government policy, but these specific movements are dependent upon volumes of trade that are more likely due to hedge funds unwinding in order to get liquidity than a big sell off by the world in general.
Trump knows that no-one is willing to jeopardise their cushy job in Capitol Hill to challenge him. Even if they did he has no respect for any legal minds that he hasn't already bought and paid for.
It's a shocking state of affairs, but there's nothing that any legal means of ending him can achieve.
Good article but it’s hard to see how the next President can get elected or at least as long as Trump is still going. From here it just looks like Trump is increasingly unhinged. Those tariffs, can’t help thinking it’s partly about insider trading as well. 125% on China and Xi Jinping in the same breath gets praised as “great guy”.
Indeed. The US is on the path to being a large country of 350 million people with what that entails - but nothing more. The super element of the 20th C has fallen away. It is not about who is in charge of the US whether this happens but who is there affects how it happens. i dont get the impression reading lots of stacks that many in the US seriously understand the change - and that it is a good thing for the west of the world and perhaps even for the US.
Trump’s used Chapter 11 bankruptcy on at least 6 occasions in the past. Why would anybody think he’d have a clue about basic economics, let alone the global markets?
... which in international finance terms he'd be happy to be the first US president to default since Nixon left the gold standard
Trump's philosophy seems to be that the world needs the US more than the US needs the world. It is the dream of the American homesteader to be self-sufficient and live off-grid with a shotgun to keep uppity neighbours at bay.
Just like Brexit, the nationalistic ignorance that Europe, 375m people needed us more than us, 65m. Sovereignty, borders, etc etc. global economy doesn’t care about borders
It seems to be a general rule that when one member of a society decides to hold the rest to ransom the other members find some way to neutralise him. There is always safety in numbers!
I'm sure he's arranged to profit handsomely from the turmoil he's caused; he doesn't give a gnat's turd about the little people being destroyed; he's getting sexual pleasure from the sense of power and the capitulation of CEOs and premiers; the long-term effects on the USA are a positive incentive - he can sit in his soiled diapers in his golden Florida toilet, cackling "Weak!" at the struggle of future presidents with the wasteland he created. Where is 007 when you need him?
Future presidents? Are you joking. No more presidents you'll soon find out. He's shown how fragile US law, the constitution, opposition, the house, the senate, enforcement, media, ceos, tech, and more are. Nothing around to save America's dark path. Only Americans can oust him in the face of autocracy. When will momentum rise?
It is always surprising to discover how much good government relies on office holders following the "good guy" principles - respecting morality and basic human values! No constitution can stand if no holds are barred.
“I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody.” - James Carville
Elect a clown and you get a circus!!!
It’s an oligarch’s scam Lewis, surely. They’ll keep the chaos going so they can make the best financial gains they can from market volatility. Thank God there are cool-headed strategists, like Carney, who know the financial system inside out and can out manoeuvre the USA’s dictator.
He seems to understand - some will say has been coached - on how toothless the so-called checks and balance of the US Constitution are when you effectively control all the levers of power through political and frighteningly acolyte
patrimony.
Thank you- a very clear explanation .
I'd argue strongly that this is deliberate on 2 fronts. Firstly, he's creating the perfect environment for insider trading with these market fluctuations, and secondly he has $Trump, a mechanism for payments to be channeled to him completely anonymously (bribery, anybody….) Sincerely hope someone with the technical capability is following the money!
I think there's a misreading of the fall in bond prices - there isn't some worldwide aversion to US debt (and certainly not a punitive sell off by the Chinese government), it's purely the mechanical effect of the crash in equities - hedge funds which are highly leveraged and own a lot of equities are having to sell Treasuries for liquidity and to cover losses and margin calls. This has all happened very quickly - Treasuries went up in value last week as funds bailed out of equities into debt, then have come down this week as they have a desperate need for cash. No great geopolitical explanation - yet.
So you don’t buy the wider argument Phil that the US will be seen as increasingly toxic as an investment destination and that this will impact US treasury as it refinances its debt? I think it makes sense. Who would invest in the US right now? Lots of other great places in the world to do business.
That may well happen, obviously investment in the US will be suppressed because of uncertainty over government policy, but these specific movements are dependent upon volumes of trade that are more likely due to hedge funds unwinding in order to get liquidity than a big sell off by the world in general.
i’m anxiously awaiting the lettuce stage of this nightmare.
Trump knows that no-one is willing to jeopardise their cushy job in Capitol Hill to challenge him. Even if they did he has no respect for any legal minds that he hasn't already bought and paid for.
It's a shocking state of affairs, but there's nothing that any legal means of ending him can achieve.
The US is committing suicide by ego.
I don't think so, I think he's shorting the stock exchange for financial benefit.
I'm told there's an old saying among economists: Stock market crashes cause recessions; BOND market crashes cause revolutions.
Good article but it’s hard to see how the next President can get elected or at least as long as Trump is still going. From here it just looks like Trump is increasingly unhinged. Those tariffs, can’t help thinking it’s partly about insider trading as well. 125% on China and Xi Jinping in the same breath gets praised as “great guy”.
Indeed. The US is on the path to being a large country of 350 million people with what that entails - but nothing more. The super element of the 20th C has fallen away. It is not about who is in charge of the US whether this happens but who is there affects how it happens. i dont get the impression reading lots of stacks that many in the US seriously understand the change - and that it is a good thing for the west of the world and perhaps even for the US.