US v China Trade War Begins
Human beings huh. We just don't learn from the past.
Imposing tariffs on trade, while it may seem like helping local business on the surface, does more harm than good when you lose the ability to specialise.
Donald Trump restricting trade via the imposition of tariffs will do nothing for the people that he is claiming to protect from the big bad Chinamen and will instead bend them over and fuck them in their own arse.
Now it's not even like we're talking about forgetting things that didn't work for society thousands of years ago or anything, we're talking about just a few decades.
People that lived through this stuff the first time, are actually the ones making the same mistakes in positions of power right now.
It's absolutely mind blowing to me how ridiculously stupid human beings are. It is just that fucking ridiculous to me that I just... can't.
What is Happening to Markets?
Well open up the stock charts app on your phone and have a look.
Red. Down. Burn.
US stocks got pumped as Trump followed up a Fed rate hike by stoking the coals of a trade war fire. I remember being taught in high school economics that monetary policy needed the support of fiscal policy to be an effective tool and hilariously after how bullish on the state of the economy the Fed was just yesterday, the president goes and creates this mess to appease voters in the Midwest of the country who of course don't know shit about economics themselves.
They don't have to though. It's not their fucking job. It is the president and his adviser's job though.
You can forgive voters for being ignorant, but you can't forgive the ones that are in charge.
Well after the US session was a tankfest, Asia followed suit as the Chinese timed in with their own retaliatory restrictions back at the US and just like petty fucking children, adult human being who know they need a globally connected economy for everyone to prosper, were at war with each other.
Have I made it clear how ridiculous I think this entire situation is yet? Because it's fucking ridiculous that we are doing this!
Now I get that the Federal Reserve is independent blah blah blah, but the way that they recklessly, and that's what it was, hiked rates yesterday with this Donald Trump trade war rubbish hanging over the head of the entire economy, was reckless.
There's no other word to use. That's the word.
My opinion is that shit is going to properly, globally hit the fan in the coming months and I'm happy that I'm a short term trader who's invested deeper in crypto than I am in equities.
Human beings within the modern day society that we've created for ourselves are fucking muppets. That's all there is to it.
Peace ✌🏻.
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