Business/Markets/Stocks/Economics Random, Random

[Owendonovan]

I'm buying pesos now for a trip to Mexico in November.

[ti-amie]

[ponchi101]

He doesn't want to destroy the US Dollar. He would not know how to.
And all his assets are in $$$.
He is a menace, but let's not get silly.

[dryrunguy]

He doesn't want to destroy the US Dollar. He would not know how to.
And all his assets are in $$$.
He is a menace, but let's not get silly.

The notion is getting traction, though. Why? And from where?

I stopped by Kiva.org this morning and saw a post from a lender on a team message board announcing they were pulling all of their money out of Kiva before the U.S. dollar tanks and it's too late. Which was an odd post to see because it literally takes months or years for a lender to withdraw all of their funds out of Kiva--unless a lender hasn't been making any loans at all for several months and their account has just been sitting there accumulating repayments...

A normal person doesn't know what to do with all of these talking heads who speak with unwavering certainty about the same issue--but are espousing diametrically opposed conclusions. You don't know who to believe or what messages to heed... Unless your conclusions are already set in stone and all you care about is finding the messages and messengers who tell you what you want to hear.

[ponchi101]

Wait. There is a difference between DESTROYING the $$$, on purpose, and causing a massive devaluation because of your incompetence.
If you are an international trader of currency, right now, dump all your $$$ and switch to the Euro. But that does not mean that the US$ will become the Venezuelan Bolivar or the Argentinian peso any time soon.

[ti-amie]

‪Financial Times‬
‪@financialtimes.com‬
· 50m
Wall Street stocks have rallied and oil prices have jumped after the US Treasury secretary Scott Bessent said a trade war with China was ‘unsustainable’. Bessent also reassured investors that President Donald Trump was not trying to decouple from China. www.ft.com/content/780c...

[ti-amie]

President Donald Trump on Tuesday said he has “no intention” of firing Federal Reserve Chair Jerome Powell before his term leading the U.S. central bank ends next year.

“None whatsoever,” Trump said in the Oval Office when asked to clarify that he did not seek Powell’s removal. “Never did.”

He'll be gone in a month.

[Suliso]

‪Financial Times‬
‪@financialtimes.com‬
· 50m
Wall Street stocks have rallied and oil prices have jumped after the US Treasury secretary Scott Bessent said a trade war with China was ‘unsustainable’. Bessent also reassured investors that President Donald Trump was not trying to decouple from China. www.ft.com/content/780c...

Oh really? And what exactly is the point of the current tariffs then?

[dave g]

‪Financial Times‬
‪@financialtimes.com‬
· 50m
Wall Street stocks have rallied and oil prices have jumped after the US Treasury secretary Scott Bessent said a trade war with China was ‘unsustainable’. Bessent also reassured investors that President Donald Trump was not trying to decouple from China. www.ft.com/content/780c...

Oh really? And what exactly is the point of the current tariffs then?

To gain a lot of press, and strut around like a peacock. What are you expecting out of a junior-high'er?
You will understand him better if you stop assuming he is an adult.

[ponchi101]

Could the entire tariffs scheme had been the most incredible case of market manipulation ever?
Crash a lot of stock all the way down, buy them at rock bottom, and then revert it to see them regain their prices?
You know he would have no qualms about that.

[dave g]

‪Financial Times‬
‪@financialtimes.com‬
· 50m
Wall Street stocks have rallied and oil prices have jumped after the US Treasury secretary Scott Bessent said a trade war with China was ‘unsustainable’. Bessent also reassured investors that President Donald Trump was not trying to decouple from China. www.ft.com/content/780c...

Oh really? And what exactly is the point of the current tariffs then?

I suppose I ought to give you a more reasoned answer. I remember hearing about 5 years ago, that Trump's deal bargaining plan was to start out with a truely outrageously bad offer. Then as the other party makes any concession at all, he will make a larger concession. This larger concession is supposed to make him look less outrageous. Then, as the negotiations progress, he will continue to make concessions, but still end up with a better agreement than if he did not start out with an outrageous negotiation position. Since this is what I remember from about 5 years ago, you might want to take it with several grains of salt. However, it does describe his initial tariff discussion tactics. However, it does appear that many of the other countries already know about his tactics and are not cooperating with him. We will see.

I still think his behaviour is on par with a junior high bully. Unfortunately, I did not copy the Facebook link to a post where one of the leaders of the Japanese government describe the tariff negotiations with the president as "being extorted by a deliquent".

[ti-amie]

‪Financial Times‬
‪@financialtimes.com‬
· 50m
Wall Street stocks have rallied and oil prices have jumped after the US Treasury secretary Scott Bessent said a trade war with China was ‘unsustainable’. Bessent also reassured investors that President Donald Trump was not trying to decouple from China. www.ft.com/content/780c...

Oh really? And what exactly is the point of the current tariffs then?

I suppose I ought to give you a more reasoned answer. I remember hearing about 5 years ago, that Trump's deal bargaining plan was to start out with a truely outrageously bad offer. Then as the other party makes any concession at all, he will make a larger concession. This larger concession is supposed to make him look less outrageous. Then, as the negotiations progress, he will continue to make concessions, but still end up with a better agreement than if he did not start out with an outrageous negotiation position. Since this is what I remember from about 5 years ago, you might want to take it with several grains of salt. However, it does describe his initial tariff discussion tactics. However, it does appear that many of the other countries already know about his tactics and are not cooperating with him. We will see.

I still think his behaviour is on par with a junior high bully. Unfortunately, I did not copy the Facebook link to a post where one of the leaders of the Japanese government describe the tariff negotiations with the president as "being extorted by a deliquent".

I posted it here somewhere. In order to understand how serious the Japanese government statement was people need to realize how the Japanese themselves make fun of their overly polite interactions even in one on one situations. Speaking bluntly is not their modus operandi.

ETA: It's in post #835 in the Reddit link.

[ti-amie]

In the afternoon of April 24th, the Ministry of Foreign Affairs held a regular press conference.

Reporter: Recently, there have been continuous reports from the U.S. side claiming that negotiations are underway between China and the U.S., and that an agreement may be reached. Can you confirm whether the two sides have started negotiations?

Ministry of Foreign Affairs spokesperson Guo Jia Kun: These are all false messages. According to my understanding, the two sides have not engaged in consultations or negotiations on tariff issues, let alone reached an agreement.

Carl Quintanilla
‪@carlquintanilla.bsky.social‬
Trump, asked about China’s denial of trade talks:

“Well, they had a meeting this morning.”

Reporter: “Who's they?”

Trump: “I can't tell you. It doesn't matter who ‘they’ is.”

@calltoactivism.bsky.social

Video at the link shows he thought this was funny.

https://bsky.app/profile/carlquintanill ... le7dtpxk2a

[ti-amie]

Trump says he'll start setting tariffs in a couple of weeks on nations that haven't struck deals
In a press conference on Wednesday in the Oval Office, Trump said he thought the US would get "great deals" in its trade negotiations.

"If we don't have a deal with a company or country, we're going to set the tariff," he added.

Trump said his administration had spoken with 90 countries on the tariffs thus far.

"That will happen, I'd say, over the next couple of weeks, wouldn't you say? I think so, over the next two, three weeks. We'll be setting the number," he added.

https://www.businessinsider.com/trump-w ... s-sub-post

[ti-amie]

Earlier today the Chinese minister of froeign (sic) affairs have confirmed there are no negotiations or even consultation on tariffs, confirmed by the Chinese US embassy which has reposted this.

So far, the market continues to stay stable after a rally back to pre-liberation day levels, in a non-sensical ignoring of the issue. As a result, this hasn't been priced in.

T*SLA, up 20% on bad earnings largely because of Chinese tariff "relief" talks, is still up 20%. It has not been priced in either.

Do what you want with this information.