Arsonists don’t make the best firefighters — hoocoodanode, amirite?
"It doesn’t seem like anything was actually agreed to at the dinner and White House officials are contorting themselves into pretzels to reconcile Trump’s tweets (which seem if not completely fabricated then grossly exaggerated) with reality." – JPM trading note
— Carl Quintanilla (@carlquintanilla) December 4, 2018
Valued commenter A Ghost to Most alerted us to this Raw Story piece, which has more details, in the morning thread:
A new note from investment bank JPMorgan advises traders to not buy into the hype that President Donald Trump has ended his own trade war with China.
As reported by CNBC’s Carl Quintanilla, JPMorgan is telling investors that Trump’s declaration this week that China will immediately drop all tariffs on American cars has no basis in reality.
In particular, the note said that investors should have “valid reason for caution” when it comes to investing on the hopes that Trump is on the verge of a major breakthrough with China.
“It doesn’t seem like anything was actually agreed to at the dinner and White House officials are contorting themselves into pretzels to reconcile Trump’s tweets (which seem if not completely fabricated then grossly exaggerated) with reality,” the note states.
This is new, right — a pathological liar in the White House causing several-hundred-point swings in the stock market by casually tweeting big, fat whoppers, necessitating investment banks to issue cautionary statements because the president is a fucking liar who can’t be trusted to tell the truth about anything?
Someone must’ve clued Trump in, because he tweeted out this garbled dog’s breakfast of moronitude:
The negotiations with China have already started. Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina. Bob Lighthizer will be working closely with Steve Mnuchin, Larry Kudlow, Wilbur Ross and Peter Navarro…..
……on seeing whether or not a REAL deal with China is actually possible. If it is, we will get it done. China is supposed to start buying Agricultural product and more immediately. President Xi and I want this deal to happen, and it probably will. But if not remember,……
….I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN
I was an English major at a Southern football school, and even I know consumers eat the costs of tariffs, but it doesn’t sound like the Wharton grad with superior genes gets that.
OMFG, Mr. Mueller — please do something before this moron wrecks not only what was once the world’s most stable democracy but brings the entire global financial system to ruin because he needs a “win.”