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2024
March 2nd, 2018 at 6:52 am
Good morning!
Dow down another 200 points as Trump tweets "trade wars are good"!
Tell me Putin isn't running this operation to destroy the United States? Do you really think Donald Trump is capable of dismantling all the gains our country has made for the past 40 years on his own?
"Easy to win" – what a moron! For one thing, the things we import that give us a trade deficit are oil and metals we can't survive without, like rare earths from China. It would be one thing if we stopped using oil but what Trump is doing is like fixing the blood deficit for someone who needs a transfusion by refusing to accept blood. A win on the balance sheet isn't necessarily a win for the economy – and certainly not for the people.
DAX down 2.3% so really nasty and Nasdaq testing 6,700 already, which is that death cross of the 20 and 50 dma and DOOM!!! if we fail it. Oh, who's kidding, we're about to fail it!
So DOOM!!!! on a Friday, DOOM!!! I say…
Actually, we might bounce here if Trump can keep his mouth shut long enough for them to spin his comments less insanely.
Oh and watch the Dollar – it's down below 90 and more downward pressure on the indexes if it pops back up.