Bob Ireland incisively posted: Most countries are wisely
choosing to renegotiate with the U.S. over tariffs.
So why is the market going super nova?
The key is CHINA! ! ! China maintains high tariffs against us PLUS they do currency manipulation, devaluing the yuan against the dollar. China brags about its status as a world power... but China depends heavily on plundering our country. During the Clinton Admin our deficit was a little less than $50 billion a year. Now it is about $1/2 trillion a year.
Add to that the theft of intellectual property, capturing U.S. patents, pirating U.S. business secrets; some estimate that our current trade deficit is probably about $1 trillion a year.
They have the world’s largest navy; they have perhaps 1/4 - 1/2 million troops. Those troops have to be fed and supplied. Those ships need fuel, parts and regular maintenance. Ammunition and rockets and missiles are regular ongoing expenses.
China is still heavily dependent on collecting dollars to maintain its world power status. They are putting undue pressure on all their ‘allies’ in this country to make Trump look like he is in a losing position. China raised its tariffs and fees on U.S. property. It is all out: defeat Trump’s tariffs! China has undue influence on the U.S. Senate - who has just tried to pass a bill to override Trump’s tariff agenda. They have avenues to attempt at least some stock market manipulation.
It is all out for China for one simple reason: THEY MUST PLUNDER THE U.S. ECONOMY in order to maintain their elevated world status. On the present path China would become the ONLY world power and the U.S. would be economically reduced to Guatemala, etc. - a banana republic.
Will President Trump blink, falter? China is taking that gamble! Stand fast!
We were on a collision course with disaster unless we correct the trade imbalance with China and the rest.
👌🙃 Thanx, Liz!