Friday , November 15 2019
Home / Mish's Global Economic / Trump Proclaims Himself the “Chosen One” to Take on China

Trump Proclaims Himself the “Chosen One” to Take on China

Summary:
"I am the chosen one" says president Trump. U.S. President Donald Trump said on Wednesday his life would be easier if he had not mounted a trade war with China but said “I am the chosen one” to take on Beijing. Chosen One Considers Options to Spur Economy Yesterday, the chosen one said he was Considering Options to Spur the Economy. Executive Order Bloomberg reported Trump Says He Can Order Capital Gains Tax Break Without Congress. President Donald Trump said he can cut taxes by indexing capital gains to inflation without congressional approval, a move the White House has been considering for months that would largely benefit the wealthy. “We’ve been talking about indexing for a long time,” Trump told reporters at the White House on Tuesday. “And many people like indexing and it could be

Topics:
Mike Shedlock considers the following as important:

This could be interesting, too:

Mike Shedlock writes Recession Warning: Freight Volumes Negative YoY for 11th Straight Month

Mike Shedlock writes Powell Says “Day of Reckoning” Far Off

Mike Shedlock writes CPI Reality Check: Where is Your Dollar Really Going?

Mike Shedlock writes The US Wanted a Coup in Bolivia: Like Magic, It Got One

"I am the chosen one" says president Trump.

U.S. President Donald Trump said on Wednesday his life would be easier if he had not mounted a trade war with China but said “I am the chosen one” to take on Beijing.

Chosen One Considers Options to Spur Economy

Yesterday, the chosen one said he was Considering Options to Spur the Economy.

Executive Order

Bloomberg reported Trump Says He Can Order Capital Gains Tax Break Without Congress.

President Donald Trump said he can cut taxes by indexing capital gains to inflation without congressional approval, a move the White House has been considering for months that would largely benefit the wealthy.

“We’ve been talking about indexing for a long time,” Trump told reporters at the White House on Tuesday. “And many people like indexing and it could be done very simply. It could be done directly by me.”

This was despite the fact the "economy is very strong"

Chosen One Reverses Course

Today, the Wall Street Journal reports In Reversal, Trump Says He Is No Longer Considering Tax Cuts

“I’m not looking at a tax cut now,” Mr. Trump said in comments to reporters on the South Lawn of the White House. “We don’t need it. We have a strong economy.”

Full Circle in a Day

Well, that took all of one day to go full circle.

Economy So Strong That

The economy is so strong that Trump continually heaps more pressure on Powell to cut rates.

Doing Great With China

Please note that the US is "Doing great with China and other trade deals".

We have been doing "great" with China on and off for at least a year. Today, I see things are "great" again. How refreshing.

What else?

Things are going so well with Japan that it will now take huge tariff cuts by Japan just for the US to break even with where we could have been relative to Australia and Canada.

For details, please see Another Trump Trade Fiasco, This Time With Japan.

Doing great with China is of course expected.

After all, Trump is the chosen one. And the chosen one has spoken.

Mike "Mish" Shedlock

Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Leave a Reply

Your email address will not be published. Required fields are marked *