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Senior Advisor

miscalculations on China

a third rate professor from a jerkwater college who talks to himself somehow gained high authority in the Trump Admin.

He confidently stated that we'll never have to really use tariffs against China because they'll summarily surrender and give us everything we demand on trade.

The Fed and the treasury's printing press are now helping keep the economy a bit above stall speed but the "easy to win", (and now defeated and surrendered) trade war lopped a solid 1% off growth, r more.

The scribblings of an obscure (not) defunct economist are more impactful than you'd suppose, but what about other whackjobs who might gain a voice in this Admin on other more dangerous matters?

The Birchist "Committee on the Present Danger" has been resurrected from Cold War mothballs by none other than Steve Bannon and features such luminaries as Newt Gingrich, who says that the threat from China is much, much greater than the Soviet Union ever was.

Another third rate professor from a jerkwater college, btw.

Beware the whackjobs.

5 Replies
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Honored Advisor

Re: miscalculations on China

China`s only slim & none hope on winning the "trade war" was if one of the 20 surrender monkey Democrats wins in November and it`s looking more and more likely that slim is leaving the building.  This is why there`s movement on Phase One of a deal, because after Trump is re elected, Lighthizer will go Live & Unplugged in 10 months.  China better be practicing their butt kissing techniques.  Turning around the unfair trade policies is easy (it would help if the majority of the House wasn`t members of the communist party)  yeah it takes 2,3 years, but remember the old dog has learned these bad tricks for over 30 years.

Senior Advisor

Re: miscalculations on China

Well, at least it would keep the Stormy payments coming.

Probably not good for the other 99.9% though.

This sort of reminds me of all the Iraq deadenders here, back in the day.

Now repurposed as peaceniks.

On some days.

 

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Senior Advisor

Re: miscalculations on China

As George Kennan- the primary author of our victory in the long cold War-noted, the sporadic eruptions of hysteria were not helpful.

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Honored Advisor

Re: miscalculations on China

This is a 3 yr old story (it`s surely improved itself, right?)  China is in hell of a shape 300% debt to GDP.  Their only out is to trade and the US is the only economy large enough to keep them afloat, their Brazilian bean buying buddies don`t have the horsepower to run $500 billion trade deficits with them.   Go to any rummage sale and buy recycled crap from China, America builds and rents storage units full of the crap, we don`t need any more.   Half their hog herd died, Army worms ate their cornand they have a billion mouths to feed.  To keep the $500 billion trade deficits rolling, all they have to do is buy $50 billion in farm goods from us so President Trump can call it a win, sounds like a easy decision to me, but they`ve made it complicated.

 

https://www.cnbc.com/2017/06/28/chinas-debt-surpasses-300-percent-of-gdp-iif-says-raising-doubts-ove...

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Senior Advisor

Re: miscalculations on China

Those eruptions of hysteria did prove "helpful" for political opportunists who were looking for a hobby horse to ride. Except when the occasionally overplayed their hands.

But yes, China has its vulnerabilities.  So you contain, contend at the perimeter and wait. 

A bunch of pre-menstrual guntoters wanting to fix everything right quick won't help matters. Never does.