Dinner in Hanoi

By Jeff Thomas – Re-Blogged From International Man

“Trump is doing the right thing. Without him, we have no protection against China. China doesn’t only wish to dominate Asia, but the world.”

Here in Hanoi, so said my dinner companion – a major manufacturer and worldwide exporter of steel products.

He, like so many other major Asian producers, sees an opportunity in international trade for all of Asia to capitalize on.

In the Western world, the argument rages as to whether the US tariff war will benefit the US or not.

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Weekly Climate and Energy News Roundup #376

The Week That Was: September 14, 2019, Brought to You by www.SEPP.org

By Ken Haapala, President, The Science and Environmental Policy Project

Quote of the Week – “If by the liberty of the press were understood merely the liberty of discussing the propriety of public measures and political opinions, let us have as much of it as you please: But if it means the liberty of affronting, calumniating and defaming one another, I, for my part, own myself willing to part with my share of it.” —Benjamin Franklin (1789)

Number of the Week: UP 24%


 

Climate Model Issues – Greenhouse Feedbacks: Prior to the 1979 Charney Report, numerous laboratory experiments established that a doubling of carbon dioxide (CO2) would cause a modest increase in global temperatures, nothing of great concern. The Charney Report states that advocates of global climate models, mainly NASA-GISS and NOAA’s Geophysical Fluid Dynamics Laboratory at Princeton advocated that a positive feedback, mainly from water vapor from the oceans would result in a far greater warming, which was estimated to be 3º C plus or minus 1.5º C. The last paragraph of the report, Section 4 – Models and Their Validity states:

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China, US to Hold Trade Talks in October

By Reuters – Re-Blogged From IJR

China and the United States on Thursday agreed to hold high-level talks in early October in Washington, boosting markets as investors hoped for a thaw in the trade war between the world’s two largest economies that has taken a toll on global growth.

The meeting was arranged during a phone call between Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China’s commerce ministry said in a statement on its website. China’s central bank governor Yi Gang was also on the call.

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When will we win? Chinese trade victory is a mirage.

By David Haggith – Re-Blogged From The Great Recession Blog

The following is my recent argument with yet one more market analyst who can’t see straight, even when his article overall was admitting it was time to bail out of stocks. Correcting the market mantras that dominate the bullheaded is partly why I am here.

I’m not going to call this one out of the herd by name because sometimes his writing is sensible. It is the group-think herd mentality of the bulls, which he expresses, that I am challenging. His writing is in quotes and my responses to his way of thinking follow each quote.

I lay it out here because somehow it still surprises me to see how vapid the wasteland of popular thought can be even when analysts finally reach the point of giving up on stocks. I actually sometimes enjoy reading this author, but this article demonstrates the typical delirious thinking that pervades market commentary everywhere all the time in what is a virtual desert of economic analysis. So, I’m going to dissect it for you as an example of just how full of denial so much market commentary is:

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Tariffs, Rate Cuts And Devaluation Whispers

Mike GleasonBy  – Re-Blogged From Gold Eagle

Well, after months of presidential complaining, tweeting, and pressuring, Donald Trump finally got a rate cut from the Fed.

A lower interest rate was supposed to stimulate the stock market and make the dollar cheaper versus the currencies of exporting countries — thereby making U.S. products more competitive according to Trumponomics.

Instead, stocks fell, and the U.S. Dollar Index broke out to a two-year high following the Federal Reserve’s policy move on Wednesday.

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Global Manufacturers Just Shrank For The First Time in 7 Years

Perhaps surprising no one, global manufacturers are now in contraction mode for the first time since 2012. That’s according to the most recent reading of the sector’s health, the purchasing manager’s index (PMI), which headed lower for a record 13th straight month in May. The PMI posted 49.8, down from 50.4 a month earlier. As a reminder, anything above 50.0 indicates expansion; anything below, contraction.

Less than half of world economies’ manufacturing sectors are expanding right now, “the worst showing since the throes of the euro area sovereign debt crisis in 2012,” according to analysis by Neil Dutta, head of economics at Renaissance Macro Research (RenMac).

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Trump to Hit Mexico w/ Tariffs Until it Shuts Off Immigration Spigot

By Agence France-Presse – Re-Blogged From Liberty Headlines

‘If the illegal migration crisis is alleviated…the Tariffs will be removed…’

Trump insists not in a 'rage' over row with Democrats

Donald Trump/PHOTO: AFP

Washington will impose a five percent tariff on all goods from Mexico — increasing to as much as 25 percent — until “illegal migrants” stop coming through the country into the US, President Donald Trump said Thursday.

“On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP,” Trump tweeted.

“The Tariff will gradually increase until the Illegal Immigration problem is remedied, at which time the Tariffs will be removed,” he wrote.

According to a White House statement, the tariff will rise to 10 percent on July 1, then increase by five percent increments each month until topping out at 25 percent on October 1.