This entire trade war topic is beginning to resemble a tragicomedy.
Every weekday morning, I play a little mental game with myself in which I guess what the ES is going to be doing, or at least whether it’l be green or red. Even though the market instantly plunged 40 points when we opened Sunday afternoon, my guess was “green”, and there it was:
Yes, the ES had reversed nearly 80 points – – eighty points! – – from its Sunday afternoon low. I couldn’t wait to see the reason this time. And….
I read more details about the………..I’ll be kind and call it “confusion”…….and it was a near-hilarious interchange between reporters, Trump, and Mnuchin. Poor ol’ Steven seems to be trying to keep things on an even keel, but it’s getting tough.
Gold fans are saddened, too, I’m sure, as the entirety of their huge Sunday pop was laid waste:
Allow me to express my rage, chagrin, and remorse about this huge overnight reversal:
Honestly, the entire thing is ridiculous.
Just think for a moment: during the entire negotiation process between the U.S. and China, how many lies have been told? How many platitudes have been offered? How many times – – since the world cannot tolerate ANY pain anymore, no matter how modest – – have officials scurried out, trying to stem the tide, and basically said whatever needed to be said to try to stop the bleeding? Dozens? Hundreds?
I mean, just read this from the Chinese side:
Vice Premier Liu He, had used an appearance in China to call for a de-escalation in tensions: “We are willing to solve the problem through consultation and cooperation with a calm attitude,
Sigh. It’s exactly the same overly-crafted words that seem taken out from a third-year English as a Foreign Language course in college. Yeah. Calm attitude. You’ve got the right dance partner for that, buddy.
Anyway, off to walk my canines before the opening bell. This entire lunacy is getting really amusing, if one is able to try to keep the perspective of some detachment.