White House trade and manufacturing policy advisor Peter Navarro, appears with Lou Dobbs to discuss the current status of the U.S.-China trade conflict.
Within the interview Navarro discusses the impact of China devaluing their currency as a strategy to avoid U.S. tariffs on Chinese imports. WATCH:
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Treehouse Poet Laureate
More good stuff
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Exactly my thought! Bought some SIRI today 😊
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Only Michael Lee (man on the left end) was bringing “the good stuff” and he was spot on and it was good.
But in true present-day Fox tradition, Dagan and the others on that panel were throwing as much cold water on his optimism as they could find, and their counterpoints were all very weak sauce, IMO.
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That’s exactly who I meant. He knows what he’s talking about.
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My humble opinion, this is the end of decade run-up like 1919, 1929, 1979,1999… i bought a ton of JNUG end of May when XAU Index was under 70 (closed 87% of time higher than 66.4 since late 1983) and sold my house (closed sale on June 20th). In my humble opinion this is a repeat of 1919-1921 market crash/correction. I am renting a condo with my wife and kids (like Noah & the ark – lol), and will buy back into housing market in March-June of 2021… it’s a lot of cash yes… but i believe we gold sky-rockets into late 2021 and housing drops like a rock along with markets. I love Jesus Christ and Trump as much as the next warm blooded mid 30 year old. God bless America but at the same time “a wise man sees a storm and hides himself, a fool bears the brunt of it’s destruction”, i humbly don’t want to be that fool (as so many times i have been).
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For all those buying product made in China . . .
Merry Xmas!
For all those not . . .
Merry Xmas!
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Merry Christmas, thank you.
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Didn’t President Trump promise we’d all be saying Merry Christmas again? Well, here we are doing just that in August!!
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Dobbs: “we don’t see the Chinese making a lot of sense here”
The globalists will never let the Chinese make a deal that, in anyway, aids in reversing the extraction of American wealth and manufacturing.
That would make China of no value to them – they would not care if it implodes .
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Visible tipping point of China might be when they start pulling back from these international agreements in ports and places that overextend their supply lines and funds.
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It also seems various people are starting to see the genius of the actions. Like every step was planned and it was known what China would do at each step. Trump is the puppeteer to them.
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Most definitely. But you’re also seeing those who are increasingly on China’s side. Time to bail on them I think. This includes Big Tech and Hollywood.
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CNBC needs to drape, as a programming background, the flag of the country their “financial experts” support:the Chi-Coms.
These are the “experts” that kept saying US GNP maximum is 1.5% during Comrade BHO’s reign; the “New Normal”.
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I panic sold yesterday as both CNN and fox business did the sky was falling. Bastards
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I panic sold yesterday as both CNN and fox business did the sky was falling. Bastards
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And that Brant is why China has bought as many ports as possible ALL along our shores…AND THE PANAMA CANAL…That was first. it was done with the money from these globalists and now, the globalists are trying to stop the freight train (China) from going over the cliff. Kinda like the movie, “Thelma & Louise”…I will let you pick which one is the “globalists”!!!
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As an add-on to above…IF ANY INQUIRING MEGA-RICH Individual would OFFER China price on the ports, including the Panama Canal, think of the possibilities…HMMMM?
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See graph at link. Involves $5.9 billion, a pittance. Subsidize our agricultural sector losses until they find another market.
China confirms it is suspending agricultural product purchases in response to Trump’s new tariffs
PUBLISHED 2 HOURS AGO UPDATED 38 MIN AGO
https://www.cnbc.com/2019/08/05/china-confirms-it-is-suspending-agricultural-product-purchases-in-response-to-trumps-new-tariffs.html
“U.S. farming has been a hot-button issue in the ongoing trade war. The president said that he had secured large quantities of agricultural purchases when he met with President Xi Jinping at the G-20 summit in June. Trump later accused China of not following through, leading him to announce on Thursday 10% tariffs on the remaining $300 billion in Chinese imports.”
Meanwhile, the GARBAGE from globalists:
China Is Cutting Tariffs—For Everyone Else
As Trump focuses on disruption, Beijing is evidently operating on a higher level.
JUN 18, 2019
Chad P. Bown – Senior fellow at the Peterson Institute for International Economics
https://www.theatlantic.com/ideas/archive/2019/06/chinas-two-pronged-trade-war/591877/
I looked them up:
About the Peterson Institute for International Economics
https://www.piie.com/about-piie
“Current priorities include:
– truth telling about the benefits of globalization and the costs of closed economies;”
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“costs of closed economies”. What the hell is China?
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Whoever wrote that obviously has no f’n clue.
This entire China trade negotiation saga has really exposed the fact that 90% of the American so-called financial experts who opine in the media are only experts on pushing globalization policies and are deliberately deaf and blind to the strategic reasons why America must bring back its strong manufacturing base and force its trading partners to agree to fair and reciprocal trade terms.
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Amen.
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EXCELLENT bitch slap delivered to Chris Wallace for his pathetic hyping of the useless Goldman Sachs chart yesterday. I’m sure Lou could care less.
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Wallace needs a regular bitch slapping.
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While having a colonoscopy prep drink or two!
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A2 says:
August 4, 2019 at 8:00 pm
I repeat, this is not a trade war.
PRC is a fundamental threat to freedom everywhere.
Potus and the wolverines know there are two choices: China reforms or decoupling.
Wallace, amongst others is an appeaser and apologist for China. #GreatChinaPayroll
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Amen to that!
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Can it be any more obvious?
C of C and Goldman Sachs are playing on the communist chinese team.
GIVE ‘EM HELL!
Raise the tariffs again, now!
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They were the kind of “capitalists” described well by Lenin: “They’ll sell us the rope we use to hang them.”
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👇👇👇👇
_xing_rubi
@_xing_rubi
This is the key piece and what most people miss.
Devaluation is not about increasing the EXPORT of goods. It is about increasing the IMPORT of dollars.
In our global economy, the capital and financial channel overwhelms the trade channel.”
👍👍👍
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“Devaluation is not about increasing the EXPORT of goods. It is about increasing the IMPORT of dollars.”
Yes and no, A2. If they want dollars, they have to export and run the tariff gantlet to get the dollars, all the while they are shipping the same amount of goods and getting fewer dollars.
So yes, it’s about importing dollars, but no, they will slowly sink beneath the waves as they are doing now. I’m not seeing how they can increase the import of dollars.
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It’s a ‘key’ piece that most people miss. And we are talking about China. Not every market tariffs their goods. But you knew that. The argument just points to the problem. Need more dollars.
China is already taking a step back on their devaluation today because the spread in theCNY/CNH is too great, they obviously will not allow their currency to float and they can’t let the RMB continue to nosedive.
“China’s central bank to sell yuan bills in Hong Kong ”
https://mobile.reuters.com/article/amp/idUSKCN1UW03I?__twitter_impression=true
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I wasn’t disagreeing, A2, just refining your point a bit. And you bring it on home with your response: “Need more dollars.” and “[…] they can’t let the RMB continue to nosedive.”
P.S. I greatly appreciate your “boots on the ground” reports and analyses. I can’t use the ‘Like’ button, so I’m taking the opportunity now to say “Thanks” and make up a bit for my missing ‘Likes’.
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STFU Dobbs and let your interviewee speak.
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HAHAHAHAHAHA
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Yes!! My sentiments, exactly! Listen, listen and then speak!
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I can’t listen to Hannity, Sr. anymore.
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Indeed, seems like his mind is on autopilot mostly. He has some great guests occasionally though.
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Used to like him but you can’t even turn it on until the first hour is done. He’s slowly becoming a pain in the rear. Hope you read this Sean, but you’re becoming an arrogant S.O.B. You sound like a High School gossiper.
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@ 10:15 of interview
Navarro ” Goldman Sachs … is the the commander and chief of Wall Street of offshoring. Full stop.”
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👇👇👇
Keerthik Sasidharan
@KS1729
“A good thread. To complement, some observations
[if you’ve been in China macro, none of this is unknown]
1. Nearly (~$1.5 trillion?, per Daiwa) of external debt potentially missing. Borrowings in HK/NY/Sing etc. Not in official figures of “external” debt, $ converted to CNY.
2. Capital control has made CNY —> USD difficult, which typically means rolling the dollar debt.
3. There was a carry trade of sorts in play. For a while, local firms borrowed in dollar, invested locally. Remember, a while ago rate spreads b/w dollar and CNY was 3-5% and CNY was generally seen as likely to appreciate. That came to an end.
4. Reverse carry trade, if it picks up, as it did in 2014-16s — the capital outflow likely to worsen the CNY.
4. Belt & Road exacerbated $ debt. China borrowed in $, lent it to Asia/Africa/LAmericas — as a conduit to transfer from global $ to these weak macro countries earning a spread (~ geopolitical clout + returns). If these countries default/renege, China’s $ debt burden spikes.
5. Then there is the question of how is China’s FX Reserves calculated, particularly as fake transactions due to CNY inflows are supposedly rife resulting in high % of “hot” money… Reserves backed by real flows + long term FDI is most likely smaller.
6. 2020 is the Year of Repayment. This means buying dollars in foreign exchange markets or using PBOC’s FX reserves. Latter is unlikely, so buying dollar will result in CNY pressed further down…
7. As the Chinese curse: “may you live in interesting times”. Well, interesting times are here…”
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Interesting to note that rumours are flying on Chinese social media that the PRC is using up Hong Kong’s FX reserves, contrary to law.
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Chinese govt can do whatever it wants. They make the laws, they can break them.
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“Chinese govt can do whatever it wants”……….Just as the Communist Demoncraps do!
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A2, all I can say is a humble thank you. I’d be in the dark re: China/econ without your posts. As a retired scientist I am aware of China gobbling up many sectors of precious metals around the world vital to scientific research. However, I’ve read that we (USA) have many available in our own country but are inaccessible due to previous “environmental regulations”. Any thoughts on that subject?
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Yes, rare earth elements fell out of the news for awhile. This article in the Diplomat may be useful.
https://thediplomat.com/2019/07/rare-earths-in-the-us-china-trade-war/
A more balanced view from the brief hysteria that hit the news when China threatened to ban sales to the US
https://www.theverge.com/2019/5/23/18637071/rare-earth-china-production-america-demand-trade-war-tariffs
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We can mine the useless wind farms.
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I wonder how many times Trump told Xi from the very start how things were going to happen and Xi totally ignored him. Trump probably told him every step he would do and then told Xi what he knew Xi would do in response. It’s probably happened like clock work.
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And it all started with Granddaughter Arabella singing to M/M Xi in Mandarin, at Summit, November 2017.
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Lou Dobbs and Charles Payne are the business and economics news heroes of Fox News.
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Now that there was just plain old funny! Best laugh I’ve had today. Bringing up that totally screwy graph multiple times, slamming Goldman Sachs. Slamming Wallace. Love it.
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Wonder if Mrs. T Cruz still at GS…
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This one is a long term keeper IMHO. The swampbis the swamp and hide under the moss but stick their head up up every now and then. Makes perfect targets for an accurate .22 shot…
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Cannot help but think Dr Navarro is having a wee bit schadenfreude re: Weasel Wallace’s attack on Dr Navarro yesterday.
Wallace, how do you like your crow? We prefer it Rare, but Wallace obviously likes it Over-Done.
One is left with the distinct feeling that after the GOPe’s Janus move re: Rep Ratcliff/DNI, Pres Trump has withdrawn into his very small circle of advisers, i.e. his family and teeny group of trusted econ advisers. Kuddly Kudlow has been noticeably absent today, but our attack wolverines Navarro and Moore are both front and center. Heck, even Bannon surfaced publicly yesterday.
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Bannon’s out and about all the time. Weekend before last he did the Symposium at the Wall. Fabulous event. Video at Right Side Network on youtube.
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CNBC—”Big Tech lost $162 billion in value in Monday’s market rout, led by plunge in Apple”
—-The broader market had its worst day of 2019, as trade tensions heated up between the U.S. and China.
—-The rout started on Friday, when tech’s big five lost a combined $66 billion in market cap.
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I hope Big Tech loses a lot more money for a few days.
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We need a new tariff system:
1) punitive tariffs, if needed, politically based
2) currency manipulation compensatory tariffs (self-explanatory)
3) ecological tariffs (if we are undercut by dirty production saving costs)
4) slavery tariffs (if wages are ludicrously low)
We would now have 10-25% tariff 1 on Chinese products, another 10-20 for devaluation, tariff 3 I have no idea, say 10%? And China using NK slaves is a no-go, another 10-20% would be in order.
That would be max 75%, min 40%.
Sounds good to me.
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Chris Wallace insisted the Graph was from the Labor Dept,…..Wallace lied….the graph was from Goldman Sacs.
I don’t watch G-D Liars!
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He does, however, know how to deceive with statistics.
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You know what they say, “If his lips are movin’, he’s lyin’.”
Said that about The Kenyan too.
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Give ’em hell Peter!
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A side note on Lou’s show: Because I don’t have cable and have to find it online to stream, I looked for the several instances of it on youtube today, as I do every weekday, one day late.
They are always cut from full length, sometimes full of ads, sometimes include only half the show repeated twice, that sort of thing.
Today’s omission was rather interesting, though. Lou teased a segment about Google’s election interference. Every single instance of the show I could find cut off before that segment.
Things that make you go hmmmmmmm…. 🧐🤨
(And if anyone knows of another streaming source for Fox Biz shows other than Google-owned YT, please let me know!)
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They are out there just look a little harder, like maybe freeintertv
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