Steel and aluminum tariffs...

[johnsmith]

Sorry, it seemed like a request for information that I knew something about. I should have let Boo speak for himself.

No problem RG....you’re still good people as far as I’m concerned

[RandomGuy]

https://finance.yahoo.com/news/apos-...191011662.html

China is already on the road to purchasing less of our newly issued debt, whatever happens on the trade front. Although its annual trade surplus with the U.S. has stabilized at around $350 billion, it’s well below its peak of a few years ago. And China’s waning power as an exporter, primarily due to the stronger yuan, has substantially lowered its holdings of foreign reserves. So just when the U.S. deficit is set to jump from $667 billion in 2017 to close to $1 trillion in this fiscal year, and an estimated $2.4 trillion by 2027 if current spending and tax policies continue, China will be meeting a lot less of our fast-growing need for funding. Put simply, the supply of Treasuries will explode, and foreign demand will likely prove more reserved than in the past, thanks in large part to shrinking purchases from China.

That scenario already threatens to cause precisely what the U.S. can’t afford: a e in interest rates. Of course, yields are bound to rise somewhat because of the Federal Reserve’s pledge of serial short-term rate increases and a newly resurgent economy. But the Congressional Budget Office is forecasting that the 10-year Treasury yield will reach only 3.7% by the end of 2027, up from around 2.8% today. Even if yields stabilize in that range, interest on the debt would reach almost $1.1 trillion by 2028, according to a forecast from the Committee for a Responsible Federal Budget. (That’s the equivalent of two-thirds of projected spending for Social Security a decade hence.)

Given the weight of those carrying charges, any significant rise in “real,” or inflation-adjusted yields would prove disastrous. (What matter is real not nominal rates, since the Treasury would recoup moderate increases in inflation via higher tax collections on higher incomes.) A real-rate surge would increase borrowing costs for Uncle Sam and for businesses, and make it ever more expensive for the federal government to meet its obligations on everything from military spending to retirement benefits.

[RandomGuy]

BEIJING — China announced Friday that it planned to impose tariffs on $3 billion worth of American-produced fruit, pork, wine, seamless steel pipes and more than 100 other goods, hitting back at the United States hours after President Trump proposed tariffs on about $60 billion worth of Chinese-made products.

The Chinese Ministry of Commerce issued the threat in an online statement that said its proposed measures retaliated against the Trump administration’s earlier decision to impose tariffs on Chinese steel and aluminum. The timing, though, also appeared to be a warning shot against Mr. Trump’s latest action on the trade front, on Thursday, when he took specific aim at a much wider range of Chinese products.
https://www.nytimes.com/2018/03/22/w...y-tariffs.html

[RandomGuy]

“It’s not devastating economically by any stretch, but it’s certainly going to hurt those interests in the United States that are trying to export,” Mr. Bown said. He pointed out that the retaliation by China sends “a negative signal, that they are not seeking to de-escalate things.”

Experts say that China picked its targets carefully by choosing goods that have political resonance. Much pork is produced in Nebraska and elsewhere in the Midwest, where Mr. Trump has strong support. Other items that could face tariffs are fruits and nuts that mostly come from California.

[CosmicCowboy]

Its a great time to buy chinese stocks. I just clicked on buying 500 shares of JD.com. zero technical reason for it to have dropped like it has this week.

[dabom]

“It’s not devastating economically by any stretch, but it’s certainly going to hurt those interests in the United States that are trying to export,” Mr. Bown said. He pointed out that the retaliation by China sends “a negative signal, that they are not seeking to de-escalate things.”

Experts say that China picked its targets carefully by choosing goods that have political resonance. Much pork is produced in Nebraska and elsewhere in the Midwest, where Mr. Trump has strong support. Other items that could face tariffs are fruits and nuts that mostly come from California.

[RandomGuy]

Dow has lost 1500 points this week.

After China responded... dow lost about 400 points today.

Off about 3000 points from its record high, although that was bound to happen.

Doubt my dad will be bragging about this one.

[RandomGuy]

https://finance.yahoo.com/news/dow-t...112637192.html

Ran Across this article. (not sure what to make of it, other than mild amusement)

A Dow Theory sell signal could trigger a selling avalanche

The second reason to be on your guard for the possibility of a Dow Theory sell signal: The timing system is widely followed, so a sell signal could generate an avalanche of selling. Among the investment newsletters I monitor, for example, no market timing system is more widely followed. Countless individual traders use it to decide when to build up cash.

To appreciate just how close a Dow Theory sell signal is, read my March 2 column in which I detailed the three-step process required to generate such a signal. Suffice it to say that the market has already jumped over the first two of those steps. The third and final step requires the Dow Industrials to close below 23,860.46 and the Dow Transports (JT) to close below 10,136.61.

-----------------------------
23,533.20 DJI

Dow Jones Transportation Average
INDEXDJX: DJT - Mar 23, 4:20 PM EDT
10,163.32 Price decrease190.14 (1.84%)


---------------

Guess we will get to see if the dude is right. He is a few points off the last data point for his theory.

[CosmicCowboy]

Probably a good thing this happened on a Friday. I suspect everyone will take a deep breath this weekend and realize the sky isnt falling.

[boutons_deux]

In your own words, how has he ripped off suppliers for decades? Not saying your wrong, but would just like to know.

Trump would contract with suppliers, with the payment back-loaded.

job done, so contractorr wants to be paid,

Trump says "nope, I won't pay, so sue me", knowing the contractors often couldn't afford to sue and were out of pocket, maybe fatally so, for material delivered and wages paid.

in Atlantic city, contractors even got together and hiked their job quotes to Trump, so they would at least get something.

[koriwhat]

Trump would contract with suppliers, with the payment back-loaded.

job done, so contractors wants to be paid,

Trump says "nope, I won't pay, so sue me", knowing the contractors often couldn't afford to sue and were out of pocket, maybe fatally so, for material delivered and wages paid.

in Atlantic city, contractors even got together and hiked their job quotes to Trump, so they would at least get something.

ever hired a contractor before? they ing suck, waste material, hike up costs 500%+, usually do a ty job, and most times leave a job site unfinished.

with that said, you know the inner workings of djt's biz deals? wow! love how you act like you do.

ps: that last sentence of yours goes without question because that's what ALL contractors do from the get go and not just to djt.

[boutons_deux]

California farmers, winemakers kick dirt over Chinese tariffs

California's vintners and growers fumed Friday at the growing prospect that wine, nuts, fruit and other Golden State exports would become collateral damage in a trade battle between President Trump and China.

The $47-billion industry, which largely backed Trump, has been buffeted repeatedly as the Trump administration has halted or reopened trade talks and proposed punitive tariffs aimed at protecting American jobs.

This time, an executive order imposing tariffs on $50 billion in Chinese imports prompted China to target 128 U.S. products for steeper trade barriers, including many crops and animal products.

China's first action would take aim at $3 billion in U.S. exports by imposing a 15% tariff on products including fresh fruit, dried fruit and nut products, and wine,

A second phase of 25% tariffs targets $1.9 billion in U.S. exports including pork — a blow to Midwestern and Plains states.

Soy, by far the biggest agricultural export to China, was left off the list.

China has to avoid blowback on its own cons uencies. It desperately needs foreign soy, which it imports from the U.S. Midwest and Brazil, and

animal feed such as hay, an export that earned more than $100 million for California growers in 2016

California's nut industry — almonds, walnuts and pistachios — sold $1.1 billion in 2016 to China, its third-largest foreign customer

China also bought more than $220 million in fresh citrus and table grapes from California that year,

http://www.latimes.com/business/la-f...s=mcnewsletter

[Chris]

Trump

[Chris]

[ducks]

Lol China talking now

[Chris]

Lol China talking now

They need us more than we need them. Trump knows this.

[RandomGuy]

-344.89(-1.43%)

(shrugs)

This day, that day, bla bla bla. Cherry pick that all you want, but you will look foolish the next day if you do. foolish-er, in your case.

[Chris]

-344.89(-1.43%)

(shrugs)

This day, that day, bla bla bla. Cherry pick that all you want, but you will look foolish the next day if you do. foolish-er, in your case.

Still waiting on proof that Trump is a sexual predator. Tick tock.

[Reck]

Trump hits China with tariffs, China gets NK to talk, Trump eases tariffs on China.

Why did you delete that post TSA?

self owning now

[RandomGuy]

23,570.34
-532.77(-2.21%)

TRUMP....

Down 2000 points since March 12th.

[RandomGuy]

Probably a good thing this happened on a Friday. I suspect everyone will take a deep breath this weekend and realize the sky isnt falling.

China hammers US goods with tariffs as sparks of trade war fly

China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world's biggest economies in response to U.S. duties on imports of aluminum and steel.

China warned the United States on Thursday not to open a Pandora's Box and spark a flurry of protectionist practices across the globe.

"There are some people in the West who think that China looks tough for the sake of a domestic audience, and would easily make concessions," the Global Times said.

"But they are wrong."

The Global Times is run by the ruling Communist Party's official People's Daily, although its stance does not necessarily reflect government policy.

Reaction to China's measures varied on social media, with some saying Chinese customers would be the ones to ultimately pay for a trade war.

"Why not directly target soybean and planes? The tariffs that China announced today don't sound a lot to me," said a user on the Weibo microblog platform.

Aircraft and soybeans were China's biggest U.S. imports by value last year.

In a statement published on Monday morning, the commerce ministry said the United States had "seriously violated" the principles of non-discrimination enshrined in World Trade Organization rules, and had also damaged China's interests.

"China's suspension of some of its obligations to the United States is its legitimate right as a member of the World Trade Organization," it said, adding that differences should be resolved through negotiation.

Weibo prominently featured the list of U.S. goods that China is targeting among the day's "hot" trending topics.

"I will never buy fruit from the U.S.," a Weibo user wrote.

----------------------------------


Dow 30
23,448.98
-654.13(-2.71%)

[RandomGuy]

On the upside... all that produce and pork has to get sold somewhere. Look to food prices to moderate.

[RandomGuy]

Its a great time to buy chinese stocks. I just clicked on buying 500 shares of JD.com. zero technical reason for it to have dropped like it has this week.

I wonder how many people lost money following your president's reckless, false comments on Amazon yesterday.

Seems pretty ripe for a lawsuit.

[RandomGuy]

Donald Trump ing Amazon To Own The Libs



Now that there’s nobody left to even pretend they’re putting Big Dumb Baby in the corner, Donald Trump’s personal war on Amazon owner Jeff Bezos is really heating up, as are his bizarre claims that the Postal Service is losing money on delivering stuff. So of course, Trump continued his one-man crusade to tank Amazon stock today:



ep, he’s worried about the costs of Amazon deliveries being Jason Bourned by the taxpayers, which means we’ll wake up some morning with Combat Tweeting Skills we don’t remember learning. As Yr Wonkette noted yesterday, Amazon does get a discounted — but still profitable — rate for delivering packages, and the postal service is required by law to make a profit on shipping packages. So yeah, Trump’s still lying, just like he lied about the US balance of trade with Canada.

Which is not to say the lies aren’t effective: Amazon stock was down by 5 percent yesterday, and the Nasdaq index, which is loaded with tech business, was down 2.7 percent for the day, and down 9.5 percent from its high point last month. Some of it is probably due to disenchantment with Facebook and uncertainty about trade with China, too, but as Gabriel Sherman notes in Vanity Fair, Trump is simply delighted by the chance to hurt Jeff Bezos, so he’s likely to keep up the attacks. US economy? What US economy? The guy’s having fun!

Now, according to four sources close to the White House, Trump is discussing ways to escalate his Twitter attacks on Amazon to further damage the company. “He’s off the hook on this. It’s war,” one source told me. “He gets obsessed with something, and now he’s obsessed with Bezos,” said another source. “Trump is like, how can I with him?”

No matter how many times he’s been told the US Postal Service makes buttloads of money from Amazon, Trump wants to direct the USPS to raise rates on Amazon, because that would hurt Bezos. Hurting Jeff Bezos is a matter of national importance, because Bezos owns the Washington Post, and the Washington Post has been very unfair to Trump by continuing to do journalism at him. Very good journalism at that — when other papers have been shedding reporters, Wapo has been hiring.

Ergo, it is simply logical that Amazon must suffer, especially because new White House Economic Adviser Larry Kudlow has yet to remind Trump that the Postal Service really needs Amazon, since email has taken away much of the system’s revenue:

“Trump doesn’t have Gary Cohn breathing down his neck saying you can’t do the Post Office ,” a Republican close to the White House said. “He really wants the Post Office deal renegotiated. He thinks Amazon’s getting a huge ing deal on shipping.”

Yes, we really are in 2018, not the Gilded Age, but this really is a US “president” who wants to set postal rates to punish a guy he doesn’t like. People in TrumpWorld are also “encouraging Trump to cancel Amazon’s pending multi-billion contract with the Pentagon to provide cloud computing services,” says Sherman, because isn’t that what political power is supposed to be used for? Of course, as former US Attorney Preet Bharara points out, Bezos just might have some leverage of his own:

What if Jeff Bezos bought Twitter with the change in his pocket and shut Trump's account?

Trump just plain doesn’t believe repeated statements by Bezos and WaPo that Bezos has no involvement in editorial decisions. Don’t be silly! Trump knows how newspapers work, because his pal David Pecker does such a fine job of ensuring the National Enquirer covers Trump positively, right down to buying the rights to stories Trump would rather see buried, like that affair with the gal from the naked-lady books. , if Donald Trump owned a newspaper, he’d definitely tell that newspaper what to print every day, right down to selecting headlines. At least for the few months before the newspaper’s inevitable trip to bankruptcy court.

Read more at https://wonkette.com/632147/donald-t...cDiPSR7uHTj.99

[CosmicCowboy]

I wonder how many people lost money following your president's reckless, false comments on Amazon yesterday.

Seems pretty ripe for a lawsuit.

He is your president too.