Trump goes golfing while the nation burns . . . As taken from The Daily Beast “Amid the carnage of this week wrought by his own decision to start a global trade war and send the stock market plummeting, President Donald Trump experienced a personal victory after winning a round of golf at his own golf course. On Saturday, Trump won the […]
“Tesla wins, Detroit bleeds,” Bernstein analysts led by Daniel Roeska declared Thursday. “Tesla is the clear structural winner…. For everyone else, this is a margin reset and real drag on near-term earnings power,” Roeska continued.” The only imported part for Teslas appears to be a wire harness made in Mexico. That’s expected to add less […]
Rachel Maddow: Trump crashed the world’s markets based on on the advice of a fictional economist. Summary The video highlights a Rachel Maddow segment revealing that Donald Trump’s tariff policy, destabilizing global markets, was based on advice from a fictional economist invented by Trump adviser Peter Navarro. This absurd but dangerous origin story underscores the […]
– by New Deal democrat My question over the past year has been whether “deceleration” would turn into “deterioration.” For a “soft landing,” deceleration would need to end, and the numbers stabilize, vs. continuing to deteriorate towards an actual downturn. With the stupefying economic moves by the new Administration, looking for hard data indicating the onset […]
Weldon Berger and I go back a long way (Slate’s The Fray). We are speaking of decades when each of us were a bit different than what we are today. We were on the same side of the argument. However, there was a distinct difference in how we approached things in politics and society. We […]
– by New Deal democrat My “Weekly Indicators” post is up at Seeking Alpha. You may be surprised to learn that despite the 10%+ stock market crash on Thursday and Friday, my rating for the short leading indicator of the S&P 500 is still “neutral.” That’s because the market is extremely volatile. There was an all-time […]
– by New Deal democrat Because manufacturing is much less important to the economy than in the decades before the Millennium, the economically weighted average of the ISM services index (75%) as well as manufacturing (25%), especially over a three-month period, has been much more accurate since 2000. In March the expansionary headline and new […]
I have been subscribing to The Atlantic for over a decade now. When I would travel by air to some far-off destination, I would have it in my brief case and also carry a book. It used to be, you could obtain a magazine or newspaper on an airplane. That disappeared and I do not […]
Central beliefs of MAGAnomics: • If people get money (wages, whatever) they just eat it directly. They don’t pass it on to someone else, who then passes it on to someone else, etc…; • There are no gains from trade, individually or between countries; • If the government spends money, it’s just fake somehow. All […]
From the Financial Times (paywalled) via Eschaton: “Hedge funds have been hit with the biggest margin calls since Covid shut down huge parts of the global economy in 2020, after Donald Trump’s tariffs triggered a rout in global financial markets. “Wall Street banks have asked their hedge fund clients to stump up more money as […]