A sheepish Scott Wapner dared to ask DoubleLine’s Jeffrey Gundlach an open-ended question about the stock market, and we suspect the response he got was far from what he wanted to hear. “I’m pretty sure this is a long-term bear market for stocks…S&P is headed to new lows” “We’ve had pretty much all of the […]
GM Discovers That Government Bailouts Come with Golden Chains Attached…
General Motors recently announced that it will stop production and lay off some 15,000 employees at several U.S. and Canadian facilities. The announcement elicited a predictable outburst of indignation from President Trump. He said in a Twitter tirade that his administration is “looking into cutting all @GM subsidies, including … for electric cars.” That’s a […]
Union Leader: ‘GM won’t close plants without one hell of a fight’…
The Trump Administration can’t say they weren’t warned. Marry Barra is meeting with Trump Chief Economic Advisor Larry Kudlow on Monday after announcing that the company would lay off as many as 14,700 workers in key swing states that helped elect Trump in 2016. Barra warned the administration over the summer that auto tariffs would […]
Import Prices: Still No Signs of Tariffs Taxing Consumers…
The price of goods imported from China fell in the first month of the Trump administration’s expanded tariffs, government data showed Thursday. The Trump administration imposed tariffs on around $200 billion of goods imported from China at the end of September. Previously, the China tariffs had applied to $50 billion of goods, mostly technological imports. […]
Rescuing the Banks Instead of the Economy…
You can’t bail out the banks, leave the debts in place, and rescue the economy. It’s a zero-sum game. Somebody has to lose. That’s what happened in 2009 when President Obama came in. He invited the bankers to the White House and he said, “I’m the only guy standing between you and the mob with […]
Mercedes, Nissan to Ramp Up U.S. Investment After New NAFTA Deal…
Mercedes-Benz and Nissan plan to invest more in the U.S. after the Trump administration won a new trade agreement with Canada and Mexico that requires more of each vehicle to be built in North America, by higher-paid workers, the Financial Times reported. Under the terms of the deal to update the North American Free Trade […]
China Retaliates After US Imposes New $200 Billion Tariffs…
The latest US salvo against China has escalated the threat of a trade war between the world’s two largest economies. China has responded by announcing countermeasures affecting up to $60 billion worth of US exports. The United States has announced fresh tariffs on $200 billion (€171 billion) worth of Chinese goods, spooking markets worried about […]
U.S. Offer of New China Trade Talks Should Be Taken Seriously…
The U.S. decision this week to invite Chinese trade negotiators back for another round of talks could prove to be just another failed effort on the road to an escalating trade war. But more likely, it will instead be the start of a months-long — indeed perhaps years-long — effort to find a new accommodation […]
Trump: Doubling of China Trade Tariffs ‘Ready to Go’…
President Trump said Friday that he has another $267 billion in tariffs ready to slap on China, calling his testy relationship with that nation “a far bigger problem” than dealing with Russia right now. The president, speaking to reporters aboard Air Force Once, said he’s in the middle of reshaping America’s trade policy on a […]
Trump Prepares Tariffs on Another $267B of Chinese Goods…
President Trump is preparing additional tariffs on $267 billion worth of Chinese imports, a move that will inflame fears that his dispute with Chinese leadership will devolve into a trade war. Trump said aboard Air Force One Friday that he is ready to dramatically ramp up the China tariffs. “There is another $267 billion ready […]
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