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Sunday, September 27, 2020

“It’s All One Big Trade”

Following up on our earlier discussions of the myriad of market abnormalities observed in today's market (here and here), Bank of America's Research Investment Committee has come up with an alternative, somewhat simpler explanation for some of the most patently absurd events seen in markets in more than one generation. According to BofA's Jared Woodard,…

COVID & Trade War Crush L.A., Long Beach Ports In First Half 

The Ports of Los Angeles and Long Beach are still dormant, recording double-digit cargo declines last month, ending the first half significantly lower when compared with the same period in 2019, reported Los Angeles Daily News. Both ports are some of the busiest seaports in the US. The Port of Los Angeles reported this week that cargo in June fell 9.6% compared to…

America Must Fight For Global Industry Leadership Again

After decades of looking away as America’s supply chains migrated overseas, policymakers are finally facing the reality that dependence on foreign producers has weakened America’s resilience, security, and economy. The COVID-19 pandemic has cast a harsh spotlight on this failure, leaving the nation unacceptably exposed, our capacity depleted, and our essential workers turning to China…

U.S. Faces Meat Shortages as Pork, Other Protein Exports to China Soar

NICOLAS ASFOURI/AFP/Getty Images The coronavirus outbreak has impacted the U.S. food supply chain, including the disease infecting workers at meat processing plants, causing operations to shut down and resulting in slaughtering of livestock that can’t be processed and shipped to retailers. Some restaurant chains are also facing shortages, including Wendy’s, which announced it had run…

Time To Rethink Economics (Part 2)

Job-creation is and always has been a massive priority of governments worldwide. In 2012, the World Bank claimed 600 million new jobs needed to be created over the next fifteen years. In this connection, here is a classic quote from 1933: “A war would be a great idea…Another war would give our three million unemployed…

Time To Rethink Economics (Part 1)

As of Thursday, some twenty-six and a half million people were said to be unemployed in the United States. Can this be true? How about no one is unemployed? No one. if that sounds an odd thing to say, here is something even weirder. The United States is threatening to ban the import of Saudi…

Boris Risks U.S. Relationship, Trade Deals as PM Scraps International Trips

Prime Minister Boris Johnson is said to be putting Britain’s future trade deals at risk by delaying international trips. The prime minister is particularly at risk of further isolating U.S. President Donald Trump by postponing a U.S. trip which had been pencilled in for next month, putting it off until June. Johnson has already reportedly…

Can The Coronavirus End The Trade War?

Authored by Bruce Tandle via The American Institute for Economic Research, CNN headline read: “China halves tariffs on $75 billion of US Goods as Coronavirus Outbreak Escalates.” Once again, it seems, a deadly virus is accelerating a daunting achievement - in this case, one that has frustrated U.S.- China trade negotiators for more than a year. Bruised…

Boris Tells ‘Juvenile Anti-Americans’ in Britain to ‘Grow up and Get a Grip’

UK Prime Minister Boris Johnson equated claims that Britain’s National Health Service was going to be sold to the United States with conspiracy theories like Elvis being alive on Mars in a Brexit speech emphasising the benefits of global trade. The comments were part of Boris Johnson’s first speech on trade since the United Kingdom…

Economist Slams ‘Insignificant’ Trade Deal With China

Donald Trump and Chinese Vice Premier Liu signed the Phase 1 trade deal on Wednesday.The mainstream was generally bullish on the news, but there was some underlying concern because the deal did not bring substantive tariff relief.Peter Schiff broke down the deal in his latest podcast, saying that despite all the hype, the deal was…
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