Let’s take a look at the past few weeks, shall we?

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Long-time readers are acquainted with the fact I’m not fan of government. I’m not speaking of the present government in particular; I am referring instead of government in general. The reasons are multitudinous and varied, but instead of going through those, allow me to share the front page of our little hometown paper, Palo Alto’s own Daily Post.

Inspiration can come from odd places. The most recent one came from a RiffTrax video, poking fun at a 1976 movie made for school kids about good manners and courtesy.
First the data. Then, the feelings.
All the inflation data is out (CPI yesterday, PPI today), and it is ice cold. The actual data (left column) is way, way below the anticipated (right). In normal times – – and these are NOT – – the bulls would be celebrating this with +200 on the /ES. Instead, it’s slowly sinking in that deflation is creeping into our lives, and that’s not something to celebrate.

A man sits in the White house. A different kind of man. A man who does not like diplomacy or going along and getting along with his global counterparts. He likes throwing Spanners and Monkey Wrenches all around the macro. There may one day be revealed a positive outcome to this, through negotiations. But on the face of it, nobody wins a tariff war. Least of all the biggest consumerist nation on the planet.
Clicking the graphic will yield the reason that the veteran trader pictured with a pensive, almost resigned look on his face with a sea of red behind him, looks the way he does (they always seem to find just the right guy with just the right expression for the moment). The reason du jour this morning is China retaliation.
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