Trumpenomics

[jon-nyc]

Japan said today they won’t take part in a trade pact that requires them to exclude China.

[Horace]

It's hard to imagine the rest of the world cooperating with Trump in any of his zany economic schemes that he may walk away from next week. Imagine making a permanent enemy of China, over a promise from Trump.

[jon-nyc]

@Doctor-Phibes That wasn’t even funny though.

[jon-nyc]

China’s government is projecting confidence that it can outlast the U.S. in a protracted trade war in large part because of the potential damage inflicted by its restrictions on rare earth metals, said Eswar Prasad, a Cornell University economist who has spoken this week with Chinese finance officials.
“That is the choke point,” Prasad said. “Beijing does not feel like it is going to back down and that the U.S. is in no position to dictate terms. A big, big part of that is rare earths, where they feel they have the capacity to do significant harm to American manufacturers.”

[89th]

Every time I see Nutlick behind the President it reminds me of a weak 2nd grader hiding behind the fat 3rd grade bully and laughing at all of his playground jokes.

https://www.reddit.com/r/thescoop/comments/1k6ry94/howard_lutnick_all_those_factories_that_youre/

[kluurs]

China needs nada from us - and we only represent 12% of their exports - which they can absorb. Meanwhile, they've made and will continue to make alliances as a result of the US posture. Overall, one wonders if China won't get tired of all the winning.

[Horace]

More Shapiro being shocked at how dumb this all was

Link to video

[Doctor Phibes]

I'm sure nobody knows more about China than Donald Trump, but it kind of feels like he misunderestimated them a bit.

[kluurs]

Trump knows more about rare earth minerals than anyone. If you have any doubts, just ask him to name one.

[jon-nyc]

Every once in awhile he sneaks out of whatever room Scott Bessent is holding him in to say “actually my real policy is way crazier than they’re saying”

[jon-nyc]

[jon-nyc]

[jon-nyc]

I don’t know about you, but I think “the market rebounded after we backed away from our shit policies’ is a weird flex.

[jon-nyc]

This guy put it better than I did:

Embarrassing to tweet this. Stocks are up b/c the market punched you in the mouth over and over and over until you realized your bad policy needed to be walked back. You started walking it back and the president admitted he wouldn’t fire the Fed chair so the markets went back up

[89th]

It's almost childish how dumb Bessent is with that remark. The market is still down 10% from when the chaos was unnecessarily started. But you and the other dude put it better than that.

[xenon]

He has audience of one that he needs to solve for before others.

[Horace]

I can imagine he is well aware of his assignment, and how ridiculous he has to act in order to do it. I'm glad he's there, and I have no doubt that if he walked away on principle, his replacement would be worse.