Goldman Sachs Analysis: Good Grief, Trump Might Be Serious About China…

This is funny in so many ways; especially for CTH readers who have a far better-than-ordinary understanding of the big picture Trump goals around China.

(1) CNBC tweeted this story last night (note the date/time). (2) It is written exclusively from the perspective of the Goldman Sachs analysts who represent the U.S. multinational position. (3) However, the article was actually written on May 12, 13, 2019.

What is funny about CNBC pushing this story, NOW, is how the claims within the CNBC story can be fact checked; and their predictions are, well, absurd (especially in hindsight).   Keep in mind this was written in May, and tweeted last night for some reason:

(Via CNBC) “Goldman Sachs said the cost of tariffs imposed by President Donald Trump last year against Chinese goods has fallen “entirely” on American businesses and households, with a greater impact on consumer prices than previously expected.

The bank said in a note that consumer prices are higher partly because Chinese exporters have not lowered their prices to better compete in the US market.” (link)

This Goldman Sach’s claim –made in May– can now be reviewed for accuracy by actual results on import pricing assembled by the Bureau of Labor Statistics in September:

(BLS Link to Data)

As you can see, four months after the Goldman Sach’s claim, the results are entirely false.  The price of imported goods has decreased; additionally, China has further devalued their currency since May, creating an even a larger price offset.

Further in the Goldman Sach’s claims:

“Goldman also said the risk of a final round of tariffs on the roughly $300 billion of remaining imports from China has now risen to 30%.”

In their May 2019 analysis, Goldman put the odds of President Trump following through on more tariffs at 30 percent.   They really just don’t believe President Trump is committed to the China confrontation.  From their analytical perspective, no U.S. President would ever go into a full economic confrontation with China.  Remember, Goldman Sachs represents the majority opinion of the Wall Street ‘multinational’ community.

This analysis from Goldman Sachs underwrites the majority of their multinational investment planning and loans to multinational Wall Street corporations.  Laughably, we know the end result is that Trump did execute more Chinese tariffs and the Goldman Sachs analysis was/is 100 percent wrong.

And here’s the kicker:

“Our baseline expectation is that the U.S. and China will strike a deal later this year. We think this would come in the form of a gradual, staggered reduction in tariffs on a last-in, first-out schedule,” the bank said.

“There is, however, a risk of further escalation,” Goldman said. (link)

Again for emphasis, Goldman Sachs controls the investment direction for tens-of-billions for U.S. multinational corporations.   The quotes and opinions above represent their outlook, their actual belief, and what they were selling their clients in May 2019.

  • They were wrong about price impacts.
  • They were wrong about Trump following through on additional tariffs.
  • And it’s almost certain they are wrong about a pending deal before the end of this year. (It’s now mid September).

What’s the takeaway?   Well first, Goldman Sachs controls hundreds-of-billions. Goldman is the predominant voice that all of the other Wall Street multinationals’ look toward.  Goldman is the incubator for almost all of the financial experts at the Fed. Goldman is also the baseline for all of the main Wall Street pundits….

Goldman is also 100% demonstrably wrong.

If you wonder why the Federal Reserve looks like they are running around with one foot nailed to the floorboard… well, look no further than Goldman Sach’s analysis.

Second, think about what will happen when these multinationals finally realize that President Trump is serious; and there will be no U.S-China trade deal that retains any semblance of the current trade relationship (if at all).

As soon as these Wall Street knuckleheads wake up to reality (likely dragging, kicking and screaming will be involved), they will have to shift their investment planning and strategic advice to those who want loans and investment. When that happens a much larger portion of the “multinational” money starts flowing back into the United States, and is no longer “multinational”.

It’s just too darn funny not to point out…..

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This entry was posted in Big Government, China, Decepticons, Deep State, Dem Hypocrisy, Donald Trump, Economy, Election 2020, energy, media bias, President Trump, Professional Idiots, propaganda, Trade Deal, Uncategorized, US dept of agriculture, US Treasury, USA. Bookmark the permalink.

189 Responses to Goldman Sachs Analysis: Good Grief, Trump Might Be Serious About China…

  1. redthunder238 says:

    I may be in the minority here but this is not “funny” to anyone but the people reading sites like this. The vast majority of the public believes every word of that propaganda and then spreads it as much as possible. Some of you including SD are seriously underestimating the ignorance of the public. The MSM has brainwashed HUNDREDS OF MILLIONS of people.

    Liked by 20 people

    • Dennis Leonard says:

      I may be in the minority here,yes you are.

      Liked by 12 people

      • 848484 says:

        YEP. HE’S IN THE MINORITY.

        Like

      • 848484 says:

        YEP. HE’S IN THE MINORITY.

        Like

      • 848484 says:

        YEP. HE’S IN THE MINORITY.

        Like

      • 848484 says:

        YEP. HE’S IN THE MINORITY.

        Like

        • David A says:

          In the post Sundance said exactly zero about weather he thought the general public believe Goldman Sachs or not. If anything he said they are less informed. He simply pointed out that they are wrong wrong and wrong.

          Liked by 1 person

          • SwampRatTerrier says:

            So right.

            Stolen Golden Sacks only sells their advice to the rich – who should sue them for deliberate malpractice.

            LOL RE: ….think about what will happen when these multinationals finally realize that President Trump is serious; and there will be no U.S-China trade deal that retains any semblance of the current trade relationship (if at all….

            Liked by 1 person

            • I have been thinking about it – I’m ready for a 20% hit to the stock market. I just wish the “MAGA Portfolios” were a little more US-based. The Russel Index of small cap stocks is sort of a MAGA portfolio.

              Like

            • SwampRatTerrier says:

              RE: “…..Keep in mind this was written in May, and tweeted last night for some reason…”

              YOU MEAN THEY DIDN’T BUTT-TWEET IT??????

              I thought they must have Butt-Tweeted it!

              Like

        • Dutchman says:

          Bears repeating.
          Firstly, theres Abes theorem, you know, the one about ‘fooling people’?

          And then there is the biblical story about ‘crying wolf’reprised as chicken little fairy story.

          Put together and in perspective;
          “Trumps tax law will screw you, its inly to benefit his rich corporation buddies!”

          And the truth is,….
          The ‘average’ household sees their incomes rise.

          “Trump colluded with Russians, to win the election”

          The truth is,…
          No, they set it up, its a hoax.

          Ultimately ‘may be a minority’, you CAN NOT fool all the people, all the time, and if you keep telling people sensational lies, which are soon proved by reality to be untrue,…eventually people either quit listening, or assume you are lieing.

          Liked by 3 people

          • Mrs. E says:

            The unknown measured factor here is the Trump rallies. He tells the people the truth at those rallies. And those who hear go tell others about what the president said. Even Fo News goes to the rallies to report on the news that the president announces there!

            Fewer listen to the Fake news too. So there is lots of underestimating going on!

            Like

    • Informed says:

      Yes, that is why Chinese companies are opening up plants in the US now. Also note, the Chinese are going to forgo their imports of US agriculture? Soy beans and pork are going to China now without tariffs….they need the US; they can’t feed their people…Trump will win!

      Liked by 11 people

      • Yeah China owns the pork exporter Smithfield Farms, so the tariffs don’t hurt quite so bad. They don’t care so much about starving their people, but their currency devaluation is certainly crippling their ability to achieve their goal of global dominance. Keep it up PDJT!

        Liked by 2 people

    • Ron Jaeger says:

      Red T you may be correct in folks buying into the propaganda, BUT they will look at their own finances, budget money earned, etc. and that will be the watershed moment when they get realize their life is getting much better economically.
      Yesterday I went to order some snap together flooring for my kitchen remodel in Redding Calif. and the staff told me there was a 2 week lead time for this Mannington product. I asked why the long lead for stuff from down the valley? He said this huge company closed down their Tracey Calif. distribution center and it was being shipped from Georgia. He then told me Mannington was relocating their factory back to the US from China and so were the other major companies after 3 recent price increase. Tariffs and uncertainty are driving factors to move. This was from a local 40 y.o. independent flooring shop. I drove over to my local boot shop again a 30-40-year-old independent business who sells 90% domestic work boots. I asked him about his line of business and told him about the flooring. He said the retailers are getting a very high demand for American made goods again. There seems to be a bit of a renaissance in the making here. Folks are seeing what the hell is up. They won’t be fooled for long at this rate.

      Liked by 21 people

    • Paul Apostle says:

      “The vast majority of the public believes every word”.
      You are so pre 2016 in your thinking.
      Vast majority don’t trust anything from the government and their squawkbox.

      Liked by 9 people

      • Deb says:

        The vast majority of people don’t watch CNBC, or any cable news for that matter.

        Liked by 1 person

        • GB Bari says:

          Maybe not, but a helluva lot of them *DO* watch the toll-free ABC, CBS, NBC, and PBS news – which is as bad as or often worse than cable news in its Leftwing, Globalist spin and fake story reporting. Those four networks have been ALL-IN on the “imminent recession” B.S., the “tariffs are hurting us” B.S., and every other anti-Trump, anti-MAGA B.S. narrative that’s been carried by the cable liars.

          Liked by 2 people

    • mike says:

      Low cost of gas and gas generated electricity are the anchor of our cost advantages. They pay in dollar for oil (about $10/MMBTU for $55 oil), import dirty coal at fairly high prices. We have clean, cheap natural gas at $2-3/MMBTU, often burned at higher efficiency than oil).

      Liked by 4 people

    • Fools Gold says:

      Not Deplorables silly! Guess attendance in NC was fake too…

      Liked by 2 people

    • sundance says:

      Cheer up. No-one has ever won anything by relying on Americans being stupid.

      We ain’t.

      Liked by 22 people

    • Those hundreds of millions are
      ENSLAVED by the M$M to LIFELONG IGNORANCE.

      Hollywood’s actors are walking-talking proof.
      So are PussyHats.

      Liked by 4 people

    • The Devilbat says:

      We will see exactly how many people the MSM has brainwashed in November of 2020. My guess is that the people will provide President Trump with the biggest landslide victory in history. Only true democrats are dumb enough to believe the MSM.

      Liked by 4 people

    • mopar2016 says:

      Tell us something that we don’t already know red.

      Like

    • Sharpshorts says:

      No worries mate, if the brainwashed HUNDREDS OF MILLIONS exist, they can have their minds changed at any moment…so they are not a the issue.
      Their current hypnotists are an issue but seem to be losing their mojo…

      Like

    • zozz1 says:

      I think you are correct. I do believe that, eventually, facts and reality overcome propaganda. Propaganda works until experience and our own eyes reveal the truth. Just as Candace Owens’ (and others) message to the African American community is getting through because that community is beginning to experience the fruits of Trump’s administration, the scales will fall from the eyes as the world begins visibly and experientially to change. It may happen more quickly than we think. Look how the thinking about N Korea has begun to shift. We now see it differently from the way we did before Trump. Trump set foot in N Korea!
      To use a Trumpian expression, “We’ll see what happens.”

      Liked by 3 people

    • yojack454 says:

      Jack Kennedy and MSM, = The Warren Commission

      Like

      • SwampRatTerrier says:

        Strange thing about that “commission.”

        No one who was interested enough in the event to want to follow the commission ever believed the commission…………………..

        Like

    • ATheoK says:

      “Brainwashed hundreds of millions”?
      You mean the entire population of the USA?

      You are also claiming that these “hundreds of millions” are unable to compare the price they pay versus the price they paid last week?

      Ridiculous.

      Liked by 1 person

    • Charlotte Powell Brooks says:

      Millions have been brainwashed. There is no doubt about that.
      But “HUNDREDS OF MILLIONS”?
      There’s roughly “three” hundred and thirty million in the USA.
      That’s adults and children.

      Like

    • Rgt says:

      The general public is usually behind the curve, but they do not ignore reality. Most people have to work for a living and handle a lot of day to day crap that the GS types and trust fund babies have no idea about. This gives them “street smarts” in life that the elites underestimate. Evidence? President Trump.

      Liked by 2 people

    • DWC says:

      I’ve got news for you. You need to rethink your choice of words because this is not “funny” to any CTH reader either. Your general statement that the MSM engages in “brainwashing”/indoctrination activities is correct and fully understood. However, your numbers and arrived at conclusions are off. Considering the current estimated 2019 total US population is 329.45 million and the number of total voters in the 2016 election was approximately 129 million, the MSM apparently didn’t brainwash 100’s of millions of the electorate then and likewise not now. That said their activities are definitely affiliated with the Democrat party and not those of a free and accountable independent press. In addition, note that because we are not a democracy but a Constitutional Republic with an Electoral College, the votes per state have significant meaning versus the popular vote. That said, the popular vote in 2016 was influenced by CA and other liberal states advocating and introducing programs that encouraged and allowed illegals and other non-citizens to vote. If those votes were nullified, then candidate Trump would most likely have also won the popular vote. In closing, yes, the MSM is a threat to a level playing field for the election process and must be dealt with accordingly. But, pretty much everyone on this site already knows that.

      Liked by 1 person

    • Larry Charles says:

      H.L. Mencken expressed it well when he said no no will ever lose money betting on the ignorance of the American people.

      Like

    • lfdale says:

      msm = “Liberal Democrat Media”

      Like

    • ms doodlebug says:

      The vast majority aren’t investing. They’re over at Walmart spending next week’s paycheck, not the least interested in what Goldman Sachs has to say.

      Liked by 1 person

      • American Heritage says:

        Add to that the legions of decent, ordinary folks who don’t take an interest in politics, know little to nothing about economics, and feel no obligation to participate in civic duty of any kind. However, they catch a few TV campaign spots a week before a big election, then rouse themselves to vote. This includes most of the people I know; granted, that is not a significant sampling.

        Liked by 1 person

    • Robin Banks says:

      There are at least 100,000,000 Americans who have no idea who Goldman Sachs is and would rather have their lungs removed via their nostrils than listen to, more over read about economic analysis.

      Liked by 1 person

    • drlou007 says:

      We know how many people voted for Clinton. That should give you a pretty good idea of the number currently brainwashed, or should I say brain damaged?

      Liked by 1 person

    • Mike says:

      Democrats are undeniably and incredibly stupid. I will grant you that. And Goldman has committed economic treason for decades to get stinking rich on slave labor.

      Like

  2. ristvan says:

    Nice catch. Terrific and enlightening post.

    Liked by 13 people

  3. Sentient says:

    Anyone looking to lock a mortgage rate should wait until The Street figures out that the trade war will continue for quite a while.

    Liked by 2 people

  4. Robert Smith says:

    I just noticed radio ads for Goldman Sachs savings accounts.

    Liked by 1 person

  5. Ol’ GS is beginning to scrape the bottom-of-the-barrel to find ANYTHING to make money because the Chinese Automated Teller is about to close!!!!

    Liked by 3 people

  6. J R Gaidelis says:

    Unfortunately that is so true redthunder, Came from church, there were some discussions on the China tariffs, their costs. Saddened me for people who are pretty smart that can be so ignorant, not stupid but ignorant. Trying to get them to come over here. Oh yeah, long time lurker, first time comment. So glad that I found this site, and the commentators on here. Learn a lot. Thanks

    Liked by 24 people

  7. MVW says:

    ‘Recession imminent,’ ‘Consumer will feel the brunt of the tariffs,’ ‘Market will crash,’ ‘Trump will make a deal any day now…’ etc.

    These guys act so smart, so many everyday investor trusts them and invests in stock based on it. However, what is public and what is reserved for their biggest of the big clients can’t be counted on as a given. In fact, I would bet they are not the same. In other words, those who listen to the public views are 100% SUCKERS.

    So, what will happen when it is realized no deal will be the final deal? And that includes China…

    Gyrations in the market and repositioning in investment is what.

    But Europe is next after China…

    And India,
    IMO 🙂

    Liked by 7 people

    • 👍🏼👍🏼👍🏼

      Like

    • Bert Darrell says:

      Just Goldman Sachs? No way! Think about Paul Krugman, the 2008 winner of the Economy Nobel Prize, forecasting a huge recession if Donald J. Trump was elected president in 2016.

      First they lie either because partisanship is more important that anything else to them or to please their multinational clients. Then, the lie some more not to lose face, hoping that sheer luck will prove them right … eventually. Next comes the embarrassment for their grossly mistaken forecasts (the nincompoop phase).

      How would you feel if your were a Goldman Sachs client and invested according to their biased advise?

      Krugman’s has lost all credibility and now shares with Al Gore the shameful distinction of having received Nobel prizes for purely political reasons. The prestige of Goldman Sachs has suffered and the reputation of the Economy Nobel prize has gone down the drain to the sewage tank.

      Liked by 2 people

  8. Proud American from Texas says:

    Another point made by Kudlow, I believe, the other day. When China devalues their currency to protect items being tariffed, they are also making other items cheaper, that aren’t currently under tariff.

    Liked by 8 people

  9. sarasotosfan says:

    The audacity of these dopes is almost unbelievable.

    Liked by 2 people

  10. skipper1961 says:

    “Knuckleheads” is so appropriate, Sundance!!! I can just see Secretary Mnuchin lining all of those doofus’ up for a Moe Howard slap, Three Stooges style!!! “I TOLD you idiots TWO YEARS AGO he was serious!!!

    Liked by 4 people

  11. TradeBait says:

    Great points by, sundance. My only difference is I believe Goldman has nefarious intent with their counter measures and talking points against PDT and supporters. They are not nice people. They will have no choice but to get in the boat or be left behind. Part of me hopes they are left behind and slowly die.

    Liked by 6 people

    • Questioning says:

      Yeah, but wait until GS discovers there is just as much money to be made moving it BACK into the USA as strip mining it out…. They are, remember, in the transaction business!

      Liked by 1 person

      • CountryDoc says:

        Patriot at cocktail party (knowing exactly when the globalist moved their business back): “Were you always for America, or did you just come back for the money, when you woke up realized you were wrong?”

        Liked by 1 person

  12. evergreen says:

    EXCEPT: they may be executing the same script they did in the housing bubble. Publicly and privately promote one position; then for internal consumption, invest in the opposite.

    They have to be smarter than that. It’s acceptable today to be rabidly anti-Trump. So much so that investors may want only to confirm their bias by hearing it from the pros. So be it. Sell friendly, mainstream-tolerated analysis. Then bet the farm against it, knowing the real scoop.

    My bet is they are not fighting Trump with private money–only selling anti-Trump to counter parties. In any case they HAVE to be hedging, knowing Trump.

    Liked by 5 people

    • 55praises says:

      I agree. What the big players say is likely the exact opposite of what they are doing. Some of the investment/trading people I subscribe to also suggest trades on this contrarian theme. The timing may be not exact, but usually their ideas do play out.

      Like

    • Bert Darrell says:

      So, HilLIARy learned to have two positions (public and private) from the crooks at Goldman Sachs?. Who might have guessed it! /S

      Like

  13. FL_GUY says:

    There hasn’t been any real news in decades, only agenda driven propaganda that would make TASS blush.

    President Trump has bypassed the media-rats by taking his message directly to the American people through his rallies. He has had hundreds of rallies. When you add up the attendance, it is in the MILLIONS. No man has ever worked the job of President as hard as President Trump.

    When too many criminals in FED law enforcement on the FED judicial system, President Trump has still managed to get things done for We the People. NO ONE else could have done what he’s done under the circumstances.

    If we can overcome the fraud that is sure to take place in 2020 and give President Trump another term, the government will be cleaned out of the criminals and traitors. JMHO

    in the meantime, we need to counter the lies about the economy every time we hear them. Personally, I believe that Goldman Sachs is a continuation of the ROBBER BARONS of the late 1800s and early 1900s. They haven’t gone away, just changed form.

    Liked by 11 people

  14. Red Thunder said: “The MSM has brainwashed HUNDREDS OF MILLIONS of people.”
    Unfortunately, those people vote on their emotions and the MSM’s influence.
    But, for one honest media outlet…………………

    Liked by 3 people

  15. lansdalechip says:

    The only way to get the truth from a Wall Street “analyst” is to ask, “is that what you’re doing with your mothers account?”
    in 45 years with wirehouses, the answer to that question usually didn’t square with what you were being told.
    Just sayin’.

    Liked by 1 person

  16. Doppler says:

    Looking for connections between Spygate, the Deep State, and the multi-national financial elites, I have always considered the NSA’s PRISM data collection and query system, abused for political purposes in FISA Gate by the Obama Administration, to have the highest imaginable dollar value to globalist multi-billion dollar hedge funds, who make the most money knowing in advance when some publicly-traded security, class of securities or currency is about to collapse in value. Maybe I sound like a broken record on this point, and, of course, I have no inside knowledge, just my version of Sundance’s suspicious cat.

    But it occurred to me recently how one might investigate it, in case there are any honest SEC and DOJ financial crimes investigators reading CTH: The four year routine FISA abuse practice including multiple unnamed independent contractors, we know, came to an end in April 2016. To the extent hedge fund performance by quarter is available, one might simply look for a fund or three that did exceptionally well from 2012 through Q1 2016, then fell back to mediocrity and worse by Q3 (the April termination date of access cutting Q2 in half). Especially funds with ties to billionaires who throw their money around in politics, think tanks, and news media..

    I have speculated before as to “why four” independent contractors? And the need for different kinds of expertise is an obvious answer. If you can identify who those four contractors were, then look for those with financial expertise and ties to hedge funds or major multi-national institutions, and then look for connections between them and those hedge funds that fell from success in Q2 2016, why you’d have a relatively small number of places to look for what is likely to be very large financial crimes. Because FISA Query access would allow financial analysts to spy on key insiders – CEOs, DFOs, auditors – of major securities issuers where they could gain early access to market moving information, and place their derivative-leveraged bets in advance of public exposure. Why would all that illegal invasion of privacy stop at helping political power, when it could generate billions in funding to also help?

    Another lead would be the best-publicized of market changing news events, because the more negative publicity, the greater the panic-selling of previously complacent investors. An icing factor here would the shaming effect built into the publicity – those “idiots holding this security,” etc.

    And, of course, firms like Fusion GPS whose business model included engineering such narratives for both political and economic interests would provide a further place to look for common ties.

    Certainly, if you found an independent contractor with deep financial expertise, unlawful access to FISA query capability, close ties to hedge fund billionaires, media narrative engineers, hedge funds that took a tell-tale hit in Q3 2016, and their networks, it would be a crime not to investigate. Track some of the subjects of those queries to companies whose asset value collapsed to hedge funds who bet in advance they would collapse to narrative engineers who made sure those collapses created maximum panic-selling.

    Liked by 12 people

  17. All Too Much says:

    From my perspective, the most amazing part of Sundance’s analysis is, I understand it.
    Economics is, or was, way outside my comfort zone. Put me in a courtroom cross-examining someone, and I am just fine, but world trade and economics? No way.

    Sitting here at the SD footsteps, however, completely changed that.
    Baby, I’m amazed. And grateful.

    Liked by 7 people

  18. sunnydaze says:

    ugh. Goldman Sachs. One of the Big Money Institutions that screwed Americans pumping the Real Estate Bubble and getting bailed out during subsequent bust.

    Looking out for the Average Joe once again. Thanks but NO THANKS.

    Liked by 3 people

  19. rayvandune says:

    All the idiot companies PAYING for BAD advice from GS (Global Shysters) are in my 401K! When are shareholders going to wake up and turf the C-level geniuses who make strategic plans based on these tea leaves?!

    Liked by 1 person

  20. Fools Gold says:

    They will follow the money when investors quit believing them…they’ll eventually give up the title “losers”…

    Like

  21. Bogeyfree says:

    It would be nice if PT would tweet and reference some of Sundance’s thread such as this one which would help spread the truth to many, many others.

    Liked by 9 people

  22. SOURCE of the incessant narrative …
    “BUSINESS UNCERTAINTY is holding back Investment:

    “Goldman Sachs controls the investment direction for tens-of-billions for U.S. multinational corporations.”

    Liked by 2 people

  23. nuke9101 says:

    what is that I have to buy from China and can only buy from China? oh and I need it today? nothin’

    the observation is that China only makes highly discretionary and deferrable products ..they only make what we have them make for us…they are not at the pulse of the US consumer creating new and innovative stuff….nobody in the USA has one Chinese favorite brand or trademarked item they “must have” ….every year the shoe models change and its impossible to detect a price change since you never buy the exact same thing twice from them…everything they make can be made some place else and WE USED TO MAKE IT ALL for OURSELVES

    Like

    • felipe says:

      nuke: your question contains enormous portent if it is as you say. I have been trying to pay attention to the origin of many different things I personally buy (as well as the large quantities of industrial supplies my high-tech company purchases) in order to gauge the potential impact of a near lockout of China goods. Bottom line, I also don’t see insurmountable supply chain obstacles. One example: Kohler. They appear to make near-identical plumbing fixtures from plants in, I believe, Wisconsin and somewhere in China. Same exact part number except for suffix identifier. The made-in-China faucets are cast from “premium metal” (before finish plating) and are sold primarily through big-box retailers (Home Depot, Lowes…), aggressively priced. The U.S.-made faucets are typically made from solid brass bodies, cost quite a bit more, and are sold primarily through higher-end plumbing supply houses. I’ve seen this same dynamic in numerous suppliers, both from U.S. and European manufacturers.
      However, I am only cautiously optimistic. It is possible we’ve allowed ourselves to become reliant on China in ways I don’t see (2nd and 3rd order effects?)

      Like

      • neal s says:

        I am concerned that some antibiotics that used to be made in the US are now only made in China. Until PDJT put tariffs on steel and aluminum from China, the US was at great risk of becoming completely dependent on foreign sources. Many if not most of the higher end semiconductors are no longer fabricated in the USA. I think Microchip is the last remaining US semiconductor fab house, but they are not the type of processors used in phones or desktop computers, but are instead mainly what we call embedded processors, such as microwave ovens, or numerous lower end products. There is certainly semiconductor fab outside of China, but precious little left in the US.

        The US mining and refining of so-called rare earths (which are not actually that rare) which are critical for all sorts of products, has all but ceased and moved elsewhere.

        There are too many ways that we are too dependent on outside sources, but the US is now poised to bring some of those critical but little noticed industries back home. What PDJT has done to make the US a much better place for all industry than it had been for way too long, is nothing short of amazing.

        I think it important for the US to become self reliant, before any of our enemies become self reliant. Only in this way can we truly ensure our security.

        PDJT has done a great job, but he needs all our help. Every one of us can do something. Even if you can’t do anything else, you can pray. And don’t belittle or minimize how important prayer is. I don’t think PDJT would be where he is now, if it were not for the prayers of countless people both here and abroad.

        Liked by 1 person

  24. Pyrthroes says:

    For all its mega-bucks, Goldman-Sachs maintains credibility solely on the basis of realistic forecasts, whether or not based on some “inside dope” –read, manipulation– known only to them and some Auric Goldfinger or Ernst Stavro Blofeld.

    As Sundance/CTH has been luminously saying since Pres. Trump announced his platform (which relegated hothouse Republocrats to backdoor potting sheds), Red Dragon’s game is up, taking Central Bankers’ kleptocratic “globalism” with it.

    Once fully implemented via USMCA, settled in through 2024 et seq., Wall Street’s casino-rolling exfiltration crowd will find that solar-fields and windfarms are en par with 100-year NIRP bonds: You may think your sovereign income-stream arbitrages worthless principal, but you’d be wrong. Our heart bleeds.

    Like

  25. swampfox999 says:

    The following is a Never Trumper colleague’s contrary position re tariffs and China negotiations. Where is he off track?

    Bolsonaro has given the green light to burn down the Amazon. Slash and burn, which is what they’re doing, produces immensely fertile farm land & will allow them to produce at artificially low initial cost. Brazilian farmers will work for a fraction of a fraction of what American farmers can accept as minimum payment. Trump’s misguided tariffs have thrown Bolsonaro & Xi into bed together. If you think that America’s farmers are taking it on the chin look to the next 2 to 3 harvests. John Deere was upset over lost sales in USA they’ve made them up in Brazil.
    Look up Smithfield Foods, the largest pork processor in the world, once an American company now wholly owned by WH Group, i.e.: CCP, bought lock, stock & barrel in 2013. As of 2015 foreign owners owned 30 million acres of America’s farmland there are no Federal regulations whatsoever on foreign land acquisitions.
    Tell me, what happens to Chinese tariffs on Smithfield products when those products get to China or for that matter soybeans from ‘American farmlands’.

    Like

    • News flash: China dropped both pork and soybean tariffs.

      What makes you think POTUS hasn’t already drafted ownership controls on China & its affiliates.

      Like

      • Kaco says:

        China has bought Smithfield, which includes other affiliated brands. I won’t buy any of their products anymore.

        There has been no stopping of China buying things out here, it seems.

        China bought out IAC (International Automotive Components). My husband warned me of that one. Now China has their fingers in our auto industry. My husband has claimed if they can’t/won’t provide parts, it could shut down lines.

        They also bought out Krauss-Maffei, a German company with a U.S. presence as well. Krauss-Maffei is also noted for producing the Leopard tank.

        I tried warning POTUS about the IAC impending acquisition. But then I later discovered this was Wilbur Ross’s former company!!! They had to have known!

        Like

    • Bert Darrell says:

      Ii is not a matter of being “off track”, Swampfox. The described never-trumper explanation is sheer nonsense. Presidents Bolsonaro and Trump have established a so-far unwritten common policy (until such time as a free-trade agreement is signed between the USA and Brazil). There are three main sources of food grain to satisfy China’s demand: the USA, Brazil and Argentina. Why would Brazil be subservient to China and compete with the USA when there is no need? Competition in this case would lead to reduced prices of China purchases, which benefits none of the supplying countries. Any US-Brazil agreement would probably have to wait for PDJT’s reelection, as our current congress is not inclined to support our president in any way. See how the Pelosi gang is kicking the can with respect to the ratification of the USMCA agreement, even when it benefits all three partners.

      The Argentine elections may put power back in the hands of the communist Kirchner cabal, which has already leased to China (when they “owned” the Pink House) for 100 years a huge amount of land to set up what appears to be a military base. Incompetent management of the Argentina economy by the current government is pushing the populace to vote, in the next election) for the Kirchner thieves (Christina K. as VP with a puppet president), all of them serious bribe lovers and utterly corrupt. However, Argentina alone cannot possibly supply 100% of China’s grain needs.

      In sum, PDJT’s tariffs will prevail and China will have to deal or face a further-eroding of their economy and likely popular unrest.

      Like

  26. Rose says:

    Here in Canada they have a stupid 30 percent rule, a mere thirty percent of any product must be produced in Canada, like the GD box or plastic we have no idea how much poisoned food is coming into Canada and put in a made in Canada box. Children have died from lead based toys, poisoned via chemicals in other products. Good for Trump, at least Americans can buy made in America, all I can do is hope I’m not buying made in China packaged in Montreal Canada.

    Like

    • Kaco says:

      Geez, I though Canada had cleaner food and stricter regulation of it. I used to get my dog food from a Canadian company, Champion. It was said they were much better than the lax U.S. made dog food.

      Like

  27. TheLastDemocrat says:

    Like I have noted.

    We make a widget. Like a TV or something. It sells for $200.

    China can make one much cheaper, due to lower labor costs and lower costs of protecting the environment.

    Assume they make this TV for $40, and it costs $10 to ship it over. So, $50.

    Regardless of whether it cost China $50 or $100 to make, their price is this: what it takes to persuade you to buy a made-in-China TV versus the made-in-America TV.

    You, the buyer, have close to no idea whatsoever what it cost to make either one. You walk into Walmart and see a $200 TV, and a very similar TV for $170. You buy the $170 TV. China makes $120 profit.

    Next step in the scenario: USA puts a protective tax on each TV of $30 to make things “fair.” China drops their TV price from $170 to $140, plus the $30 tax. To you the customer, the TV is still $170.

    China is still making a profit.

    Like

    • Uncle Al says:

      Yes, but a smaller one, and right at a time when they are bleeding cash elsewhere.

      You are looking at the TV in isolation from all other factors. The drop from $170 to $140 may represent an inability to accomplish something important to them with that $30.

      Like

      • TheLastDemocrat says:

        My point is that for such products, China CAN absorb the extra cost of a tariff.

        If they thought you would pay more than $170, before tariff, why sell at 170?

        Like

        • Bob says:

          China will continue to subsidize as long as they can. At some point they will fold…different than the US, they really do not care about their citizens, and they will do all they can to save face. In reality, they have screwed US companies, and should somehow pay the price. Can the US keep up the fight or are leftist media going to cause the strong to relinquish the strength? In my mind it is time to fight until the fold! But, half witted idiots many times only see the short term and cannot see the destination that is required to win and ultimately get what is deserved. For you people that watch the media, please bite your tongues long enough to reap the benefit. We could have been in no bargaining position at all if we would have elected the Clinton marage.

          Like

    • Then along comes Trump:

      Imposes an Environmental Damages Fee on “Total Imports from China”
      … to recapture for-the-USA what each of our industries has invested to cut emissions
      • Equal to the unit costs of reducing emissions to USA Levels
      • Multiplied by the units China produces globally
      … cause who cares where they’re bought in a “Global Environment”
      … and anyone else who wants to collect from China can “give it their best shot”
      … unless they Trade-in-Unison with USA actions under a Bilateral Trade Deal!

      Like

    • David A says:

      With modern technology and automation labor is an ever smaller percentage of the gross cost of production. I think it best to get accurate numbers prior to making such broad generalities.

      Like

  28. thedoc00 says:

    Goldman, Bloomberg, Morgan-Stanley-Chase, Wells Fargo, et al have been spreading this stuff for the past 1+ years via their mouth pieces on the business news shows, with the exception of Charles Payne and Liz Macdonald (plus Stewart Varney and David Asman about 50% of the time), who do battle on behalf of the President. Bloomberg also does it directly via the Bloomberg News Network and his foreign talking heads (especially those covering China and Hong Kong).

    I gave Barons an earful when they begged me to renew my FREE subscription.

    Afraid it will take another term with President Trump and a strong team to bring these “knuckleheads” to heel.

    Like

  29. Baby El says:

    The story was likely resurrected so it can be cited as a dem talking point in a future debate.
    The buggers are always plotting something. Every step is a calculated move.

    Liked by 1 person

  30. A2 says:

    Exhibit A
    #GreatChinaPayroll

    (fT: “Goldman Sachs economist Andrew Tilton, who has published excellent empirical research on the trade war,”)

    See footnote one
    [1] All the estimates in this column are imprecise.

    🤣🤣🤣🤑🤑🤑🤣🤣🤣🤣🤣

    “How China dodged a trade war recession
    Tariff shock was offset by devaluation and a judicious easing in domestic policy”
    https://amp.ft.com/content/85149fb0-d39d-11e9-8367-807ebd53ab77?__twitter_impression=true

    Like

  31. Henry chance says:

    Goldman Sachs was an investor in the Chinese pork acquisition of Smithfield.
    American money.

    Chinese do not import primal cuts. They import feet, heads, offals etc.

    They import chicken feet which I have never seen in an American market.

    Like

  32. jeans2nd says:

    Jerome Powell and The Fed could have easily avoided all this angst and consternation.
    Easily.
    Jerome Powell and The Fed could have had Steve Moore.

    But noooooooo, not Steve Moore.
    Steve Moore is a Deplorable. Steve Moore helped write those tax cuts. Steve Moore is partners with NEA Larry Kudlow.
    And Steve Moore does not possess a PhD! The Horror! Bring the Feinting Couches!

    So yes, blame Jerome Powell. Blame The Stupid Fed. Blame Goldman Sachs.

    Financially, we’re good now. Thanks, Mr President.
    Thanks, Sundance, for the heads-up, and the laugh.

    Like

  33. Somebody's Gramma says:

    I had a disheartening talk with one of my daughters. She doesn’t see the “good news” in the economy. However, my grown kids all live in California and California is sticking it to them like no other. Here a tax, there a tax, everywhere a tax, tax, high cost of living, and tons of crime, and traffic. I live in a deep red state by choice, and all my costs are down in general, help wanted signs are everywhere, people are in very good spirits. So, maybe it depends upon whether someone lives in a deep blue state or a deep red state, among other factors, to feel the change. I do point out though, that ALL of them are gainfully employed and doing well, job prospects are booming. Hopefully, I provide the insights to them that are not being provided by the mainstream. If I’ve taught them anything, don’t believe what you read or hear without checking the opposite opinions first.

    Liked by 2 people

  34. dallasdan says:

    Timeliness and truth were long ago fatal casualties of msm reporting. I believe the objective of CNBC pushing this story now is simply to emphasize the falsehood in the public’s consciousness with the intent of politically injuring the President. Accuracy is not a relevant consideration.

    Like

  35. Kaco says:

    So they are doing a second round of gas-lighting the public by recycling an old story to try again to induce a recession since the consumer spending numbers looked so good?

    Liked by 1 person

  36. Pegon Zellschmidt says:

    Why Goldman Sachs is overweight Chinese stocks😆
    3:45 AM ET Tue, 10 Sept 2019
    Timothy Moe of Goldman Sachs says he is positive on Chinese stocks in part because earnings growth in China has been the best in the region relative to consensus expectations.
    https://www.cnbc.com/video/2019/09/10/why-goldman-sachs-is-overweight-chinese-stocks.html

    Like

  37. The older I get the more I am persuaded that MOST people want to be lied to. To persue Truth means embracing some very uncomfortable conclusions- such as we are not the masters of our own destiny. One must ultimately come to the conclusion that there is a God, He is in Heaven and does as He pleases. Moreover we have to answer to Him if not now- later, and that with interest.

    Therefore; It’s easy to fool the Godless. They live in fear and embrace lies. Why do you think that the #1 enemy of the Left is God? ALL Leftist regimes are in open warfare against God- more specifically His Son Jesus. It’s the single unifier of all Humanist thinking. Their hatred of Him is the glue that holds all leftists together. Whether it’s in you face anti-Christ actors (China, Islamist States) of more subtle and nuanced (cloaked) actors like Hillary or Bergolio their underlying efficient cause is identical.

    Like

  38. Phil McCoxwell says:

    The funny thing is, most people are not paying attention to anything. Not much different than our revolution. I large portion of our society chose to sit it out. It’s the same today. About 1/3 of our society is paying any attention at all. Most have no clue who Goldman Sachs is. They might have heard the name, but no clue what they do. It takes an earthquake to wake people up. Outside of that the propagandist are preaching to the same people and not many are switching sides based on some story. If anything, I would say more people are waking up to the BS and realize the news is nothing more than tabloid bs. Entertainment tonight and ABC US World News are almost the same thing.

    Like

  39. TwoLaine says:

    Was there a skit on SNL about this tweet Sat night? 😉

    Like

  40. TwoLaine says:

    I would also just like to remind everyone, I am not one of the 1%ers and I got about a month and a half free on my electric bills, business and personal, due to Tax Cut refunds they handed out. No winter bill to pay in winter and right before tax time. Sharing the wealth and lowering our bills at the same time.

    It was SWEET, and I cannot say that has ever happened before in my lifetime. 🙂

    Like

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