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Trade Wars Are Easy to Lose

Started by The Minsky Moment, October 02, 2019, 11:45:38 AM

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The Minsky Moment

https://www.cnbc.com/2019/10/01/us-manufacturing-economy-contracts-to-worst-level-in-a-decade.html

QuoteThe U.S. manufacturing purchasing managers' index from the Institute for Supply Management came in at 47.8% in September, the lowest since June 2009, marking the second consecutive month of contraction. Any figure below 50% signals a contraction.

The new export orders index was only 41%, the lowest level since March 2009, down from the August reading of 43.3%, ISM data showed.

"We have now tariffed our way into a manufacturing recession in the U.S. and globally," said Peter Boockvar, chief investment officer at Bleakley Advisory Group.
We have, accordingly, always had plenty of excellent lawyers, though we often had to do without even tolerable administrators, and seen destined to endure the inconvenience of hereafter doing without any constructive statesmen at all.
--Woodrow Wilson

The Brain

Women want me. Men want to be with me.

Valmy

If we were having an honest discussion about trade, instead of just ranting populist-like, I would here present this evidence as supporting my free trade ideals.

But that kind of discussion is not taking place so I will just feel really depressed...as per usual.
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."