There's a reason the bond market crashed

[Rideback]

It turns out that Canada's PM Carney is a pretty smart tactician.
https://deanblundell.substack.com/p/car ... irect=true

CEO reaction has been interesting. Apple is attempting a mega shipment of IPhones from India in the interim now and Trump is talking about one of his favorite bargaining tacts, which is granting exemptions to corps and individuals who bend a knee. He mentioned Apple and today Zuckerberg is vising him hat in hand to ask DoJ not drop the big case against META. What it is that Zuck would offer is more than likely to do with METAs huge cache of personal information and tracking.

[mister_coffee]

There are a few things going on here at the same time.

One is that the bond market has a lot of power, especially to a country that needs to issue more debt. Not that having debt even at our current high levels is necessarily a bad thing. I'd argue that having the wide and deep public debt market our large national debt creates stabilizes our economy and the world economy. However that debt gets much more risky if people buying the debt question the competence or sanity of the people in charge here.

Another is that this is a pretty clever and vicious way for Trump to reward his cronies and supporters and rip off everyone else.

A third related point is that the tariffs force a lot of American and foreign businesses to bow down to Trump, either to show him fealty or give him a taste so they can get tariff exemptions and survive. I'd watch closely in the coming weeks and I think it a safe bet that Wal-Mart and Amazon will both get some kind of "tariff exemption". Of course you will still be screwed if you shop at Target or Ali Express.

The fact that Newsom stepped up and was trying to independently negotiate carve-outs for goods from California is an interesting development and one that bears watching in the coming months.

[just-jim]

.
Pee-Pants got what he wanted - he got to say “they all want to kiss my a$$”.

That’s what’s important to this mendacious sycophant: not people, not principal, not law…but who is standing by to stroke him.
.

[mister_coffee]

What this is is a messy capitulation by Trump.

It isn't really surprising. Bullies who talk big and talk tough always end up being chicken $#!+.

[Rideback]

https://www.mediamatters.org/tariffs-tr ... d-his-hand