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Thread: Are trade wars good and easy to win?

  1. #1
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    Default Are trade wars good and easy to win?

    1. Donald Trump tweeted on Mar 2, 2018:

    "When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!"

    However, his unbridled optimism was dashed on October 11, 2018 when the words BREAKING NEWS continually flashed across the television screen with the following message:

    "Dow sheds over 800 points (-831.83), worst drop since February. Worst day for US tech stock since August 2011."

    P.S. The "storm" that hit the stock market seemed to be "tremendously big and tremendously wet".

    https://twitter.com/realDonaldTrump/...25362580484098
    Last edited by reedak; 12-10-2018 at 01:06 PM.
    Donald Trump's infamous Hitler-style rabble-rousing chants: "Lock her up! Lock her up!"

    "What happens when you're confronted with a politician (Trump) who is utterly without shame? You can reveal where he's lied, explain all the facts, and try as hard as you can to inoculate the public against his falsehoods. But by the time you've done that, he has already told 10 more lies." -- Paul Waldman

  2. #2
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    Default Re: Are trade wars good and easy to win?

    2. Another day of bloodbath in the stock market, or rather, "waterbath" -- very wet, from the standpoint of water.

    Wall Street posts second day of steep losses, falling over 500 points (-545.91).

    Instead of threatening he has "a lot more to do" on China trade, Trump should realise he has "a lot more to do" on his own country's economy, otherwise Wall Street can keep falling like "Trumpty Drumpty".

    https://money.cnn.com/data/markets/dow/

    https://www.reuters.com/article/us-u...-idUSKCN1ML1TF

    http://www.politicalworld.org/showth...)#.W8COufZuLIU
    Donald Trump's infamous Hitler-style rabble-rousing chants: "Lock her up! Lock her up!"

    "What happens when you're confronted with a politician (Trump) who is utterly without shame? You can reveal where he's lied, explain all the facts, and try as hard as you can to inoculate the public against his falsehoods. But by the time you've done that, he has already told 10 more lies." -- Paul Waldman

  3. #3
    Join Date
    Jan 2014
    Posts
    288

    Default Re: Are trade wars good and easy to win?

    3. Dominic Rushe is business editor for Guardian US. He was part of the Guardian team that won the 2014 Pulitzer prize for public service journalism. The following are excerpts from his 20 November 2018 news report under the headline "US stock markets continue to fall, erasing 2018 gains" with the subheading "Technology stocks slid again and fears of a trade war with China worried investors".

    (Begin excerpts)
    US stock markets continued to fall on Tuesday, wiping out all of 2018’s gains as a side in technology stocks grew into a wider selloff and fears of a trade war with China worried investors.

    The Dow Jones Industrial Average lost 555 points in New York, a slide of 2.2% and the Nasdaq, home to Amazon, Facebook and many other tech giants, was down another 1.7% following sharper falls on Monday.

    The leading tech companies have now lost a combined $1trn in value since their year highs.

    But what started as a sell-off of high-flying tech companies spread on Tuesday as the oil price tumbled and investors sold investments in retailers, energy companies and bitcoin. US markets rallied briefly but have now erased all the gains they have made this year.

    Analysts said there were likely to be more wild swings to come. “I don’t think Santa Claus is going to waltz in and give us a rally for Christmas,” said Michael Antonelli, managing director of institutional sales trading at Robert W Baird in Milwaukee.

    ....stock markets are often a leading indicator of economic trends and investors see trouble ahead.

    “Many of the metrics are already at the extremes,” said Jack Ablin, chief investment officer of Cresset Capital. “In many respects we are at the North Pole. No matter what step we take it’s going to be south.”....

    Investors have been “throwing growth stocks and tech in the trash”, said Antonelli. “It’s not that there is new news. It’s tension and nervousness.”

    The sheer size of the tech companies had propped up the stock market rally and their recent wobbles were exposing “deterioration” in the wider market, said Ablin. Corporate America has been buying its own shares, and boosting share prices as a result, at a record-setting rate – $115bn of stock in the first three-quarters of 2018. The Federal Reserve’s decision to keep rates rising is likely to cap that trend, said Ablin.... (End excerpts)

    Source: https://www.theguardian.com/business...ing-2018-gains

    4. Meanwhile Cryptocurrencies continued to fall on November 20, 2018. Bitcoin, the big daddy of cryptos, had been trading at $4,444, a price last seen in October last year. By the way, 4 and the word "die" have the same pronunciation in Mandarin and some southern Chinese dialects. Hence 4444 sounds like "Die! Die! Die! Die!"

    P.S. In his constant braggadocio on March 2, 2018, Donald Trump tweeted that "trade wars are good, and easy to win".

    https://www.ofwealth.com/huge-corpor...rrying-stocks/

    https://money.cnn.com/data/markets/dow/
    Donald Trump's infamous Hitler-style rabble-rousing chants: "Lock her up! Lock her up!"

    "What happens when you're confronted with a politician (Trump) who is utterly without shame? You can reveal where he's lied, explain all the facts, and try as hard as you can to inoculate the public against his falsehoods. But by the time you've done that, he has already told 10 more lies." -- Paul Waldman

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