Hillsborough, NJ
Summarizing, simply put, President Trump is a high functioning illiterate,
with no understanding of basic economics or history.
Smoot Hawley was a disaster. Today's markets are extended. Exposed for many
reasons: monetization has elevated our debt and equity markets.
Protectionism stifles trade.
Addressing our trade imbalance will require surgery on our current
capabilities in all areas where we can do better... Show more
Hillsborough, NJ
Summarizing, simply put, President Trump is a high functioning illiterate,
with no understanding of basic economics or history.
Smoot Hawley was a disaster. Today's markets are extended. Exposed for many
reasons: monetization has elevated our debt and equity markets.
Protectionism stifles trade.
Addressing our trade imbalance will require surgery on our current
capabilities in all areas where we can do better and better... and we may have
to redraw the plans where we are hurting and cannot do better. The cost of
labor is a factor. This will not improve... as the Fed and others wish to
stimulate income - in the face of vastly lower costs overseas.
As other nations prosper, their costs will rise. China manipulates it's
economy. It is a world unto itself. We are competing with China... and we
opened the door to China under Richard Nixon. As things improve in China,
costs will rise there. They are doing so now. But they have a long way to go.
India the same.
Our balance of payments deficit has created 'reserves' for other nations, and
they thirst for dollars. Gold is no longer used by most nations - as a reserve
against which to lend.
Paper currency rules. Will this change? I doubt it. Only a massive crash could
influence the basics of our world economy.
I put the chance of a massive crash at 25% today. I believe it will rise...
Unseen developments are brewing. If these come to pass, 25% will rise to 100%,
and we will have to address issues presently unseen.
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