Rachel Maddow (MSNBC) - "It's even harder to get your head around simultaneously the fact that he (Trump) can do damage of this magnitude with such a teeny, tiny, teeny tiny amount of thought" The report was fascinating, revealing that Trump’s big idea actually came from Peter Navarro, who, in turn, got it from Ron Vara—an anagram of Navarro, meaning a completely made-up person. It’s mind-blowing to think the entire world could be sabotaged by a fictional character. And here we thought ChatGPT was the one that could come up with wild ideas! “When a clown moves into a palace he doesn’t become a king, the palace instead becomes a circus. — Turkish proverb”
Trump Is Fighting a Trade War He Can’t Win. The Stock Market Is the Loser
$Dow Jones(.DJI)$ I just returned from Mordor, where the tariff was a cool 29%. Had a delightful chat with Sauron—apparently, he’s feeling pretty good about it. According to him, it’s nowhere near as brutal as Hogwarts, which got hit with a 33% tariff. He’s already planning to push for a reversal, but the timing? Well, that’s a closely guarded secret... possibly until next week, or maybe later. Who knows, even Sauron has to keep some things mysterious.
$NASDAQ(.IXIC)$ It’s pretty clear that textbook traders missed the mark this time. And for those who only listened to their Democratic professors and ripped out the Trumponomics section from their textbooks—since it wasn’t going to show up on the final exam—well, they might be regretting that choice now. I’m not saying whether Trumponomics is good or bad, but the fact is, we can’t avoid it. The smart move is to trade alongside it, not against the flow. By the way, I totally aced my Trumponomics elective... in my dreams. A technical recovery will come soon, but honestly, predicting exactly when is anyone’s guess.
Tonight, Powell has plenty of ammo to spook the market, and honestly, I’m not sure there’s anything he can say to calm it down. After all, Trump’s out there trying to "liberate America" like a DIY superhero, which isn’t exactly market-friendly. The stock market is already on a wild ride, and Powell’s words might be like the seatbelt – a bit of security, but not enough to keep it from going off the rails! It’s going to be a another bumpy one!
Powell Could Weigh in on the Economy and Tariffs Friday. What to Watch
I’ve always felt that the twists in K-dramas are inspired by real-life experiences. Directors and writers seem to draw from genuine emotions and situations, making the stories feel relatable. The characters’ challenges and growth often mirror the unpredictability of real life, blending fiction with the complex emotions and truths we all face.
South Korea Court Rules to Oust Impeached President Yoon
Since Singapore has a trade surplus with the US, maybe it should just use that new economic formula cooked up by Trump’s experts: (Trade Deficit / Imports = 3/46 = 6%). Wait, scratch that—there’s a minimum tariff of 10%. So, looks like Singapore should just slap the US with a 10% tariff too!
For those countries dissatisfied with Trump’s tariffs, let me make this clear: nothing is stopping you from reducing trade with the U.S. or even halting it entirely. The United States doesn’t owe anyone anything. The imposition of tariffs is a prerogative of the U.S. President, and it’s within their right to shape trade policy as they see fit. If you don’t like it, you have the option to act accordingly.
EU Vows to Respond With Countermeasures to Trump's 20% Tariffs
As I've repeatedly pointed out, the market is incredibly reactive. To quote MarketWatch: "Worse than the worst-case scenario?" I've been sounding this alarm for a while. Even I started to believe things might not be as dire when I observed Wednesday's trading activity. I briefly considered either entering a long position or closing out my short positions, but ultimately decided to let things unfold. As I write this, futures are in the midst of a volatile swing, proving once again the unpredictable nature of this market.
The question isn't why Trump imposed high tariffs on these countries, but rather why these countries were imposing high tariffs on the U.S. to begin with, and why it was allowed to persist for so long. For years, many countries have had trade policies that favored their own economies at the expense of American businesses, with tariffs that were often unfair or disproportionate. The real question is why these imbalances were tolerated, and what factors allowed such high tariffs to go unchallenged, contributing to an uneven playing field in global trade. It’s a broader issue of economic fairness and negotiation strength.
Trump Tariffs Spare No Country, Many in Asia, Europe Hit Harder