Wednesday, December 5, 2018
A little bird told me...
What actually was said at that dinner? Here's my guess: Tr*mp volunteered to hold off for ninety days on the new tariffs he'd promised, then presented his wish list of what he hoped for in return. Xi smiled and nodded, but committed to little more than a few soybeans.
So why were Tr*mp's tweets so enthusiastic? Most likely because he's in the habit of claiming victories he hasn't won — but there could be another explanation. Barely more than a day later, he sent out his "tariff man" tweet, which sent the major stock indexes crashing down over three percent in one day; and certain predictable stocks lost even more. If you had shorted some of those shares on Monday, you could have made a lot of money on Tuesday.
Personally, I missed that opportunity, and I suppose you did too — but there might be individuals, LLCs, and/or hedge funds with more "insight" into what Our President might tap out on his phone than your average Wall Street algorithm has. Previous Presidents took great care to minimize the impact of their statements on financial markets. It doesn't seem to matter to Tr*mp.
Then again, it might matter to him a great deal.