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George H. W. Bush, was the only sitting president to ever walk the Mackinac Bridge
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and China's Xi have agreed to hold off the next round of tit-for-tat tariffs for 90 days. Baghdad Sarah is crowing about the inflexible negotiating stance and firm demands of that has led to this so-called 'breakthrough". So what are the actual details?
1) China agreed to label fentanyl, the deadly synthetic opioid, as a controlled substance and thereby regulate it's export.
2) China agrees to "re-review" a Qualcomm attempted takeover of Dutch chipmaker NXP.
3) China agrees to buy more stuff from the US - no products, industries, amounts, timeline or value defined.
4) The US agrees not to initiate the next round of tariffs for 90 days.
5) The US agrees not to economically sanction China for its illegal expansion into the South China Sea and to accept all current and future 'island building' as sovereign Chinese territory.
What's it all mean? Just like allowing Russia to freely annex foreign territory, agrees to unfettered Chinese expansion in southeast Asia. The Chinese agree to stop sending freighters full of fentanyl to 3rd parties that smuggle to the US. And that's about it.
The 90 day pause in tariffs only delays economic turmoil. It is estimated that the projected next round of tariffs would stunt annual global economic growth by .2 to .3% and cause a 2-4000 point drop in the stock market. does not want the 'fake news' to correctly report that his ill advised trade war has adverse effects on the US economy. This gives the US time to create more concessions for the Chinese and a face saving story for the US as it continues to degrade and eliminate US economic and political influence. has eradicated any moral standing the US used to maintain, so he can check that off the list.“Outside of a dog, a book is a man's best friend. Inside of a dog, it's too dark to read.” - Groucho MarxComment
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Vice Admiral who oversees all US Navy forces in the Middle East commited suicide yesterday
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Israeli Police recommend that Netanyahu and his wife be indicted on bribery charges. Will the AG act?
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FAKE NEWS. You can't sit and walk at the same time.
Good Sunday Morning !hack
Have you figured out the Windsor Hum yet?Comment
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it took Mueller 18 months to discover Trump built towers.Comment
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Jon's take above is not entirely inaccurate but it's a bit negative for me.
Last week, global markets surged on the basis of insider reports that some type of trade agreement was going to come out of the Trump/Xi meeting this weekend. Almost all of November's losses were recouped and a good-sized dent into the corrections (nearly 20% of the NASDAQ and 10% of the DOW) were mitigated.
There was plenty of good articles written by various economists and investment types detailing the kind of agreements that were possible and what is on the agendas of both countries in the on-going trade dispute. No hyperbole and no hysteria - most of the best articles coming from overseas news outlets even though many of the articles I read were from US authors.
The most desired and realistic agreement was to de-escalate the tit-for-tat imposition of tariffs by both sides and then to set up a pathway to further negotiations. That looks to have been achieved.
It is encouraging that things that both sides are saying are on the agenda for future dialogue include what amounts to forced technology transfer by US companies who wish to do business in China. The Chinese requirement for dual ownership of such business operations - that Chinese participation in ownership is required - is a major and valid complaint of the US.
As I posted a while back, the trade imbalance between the US and China is over-played in the US press. The global nature of the assembly process for the final product is the reason for most of the misunderstanding of the actual impact on trading partners. That does not mean that the loss of sales of agricultural products from the US to China as a result of the current trade dispute is not important. It is and it is encouraging that this appears to have been addressed.
I think the markets will reflect the value of whatever agreements were reached by Trump and Xi. If we see a December jump, that's a good sign that businesses are generally upbeat about decreasing trade tensions between the US and China.
Mission to CFB's National Championship accomplished. JH chased Saban from Alabama and caused Day, at the point of the OSU AD's gun, to make major changes to his staff just to beat Michigan. Love it. It's Moore!!!! timeComment
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I agree that reduction in tensions will be good for the market. We should see a few hundred point jump on Monday. Pushing back the tariff deadline one economic quarter gives biz a little breathing room. Where I have concern is with our transactional president. Making a deal (a win!!) is the only relationship he cares about. Flattery, pomp, and "nice words" are currency to Trump and trade discussions in the national interest has no place for that. Trump's unnatural and unquenchable need for praise puts the US at a disadvantage right on the onset. Look no farther than North Korea and Russia for examples of praise being exchanged for positions contrary to the national interests of the United States. Smoke, mirrors and a Trump bragging about "a win" is the only thing I expect out of this fiasco.“Outside of a dog, a book is a man's best friend. Inside of a dog, it's too dark to read.” - Groucho MarxComment
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Mission to CFB's National Championship accomplished. JH chased Saban from Alabama and caused Day, at the point of the OSU AD's gun, to make major changes to his staff just to beat Michigan. Love it. It's Moore!!!! timeComment
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I care about the wall. If that caravan showed up at 90% of any point along the border, they walk across. perhaps step over a single strand of barbed wire, or wade across a river. We were successful so far keeping them from rushing and crossing the border because we have resources in San Diego. Resources that are easily stretched thingComment
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Kap, it's a short term fix and more show than anything else but the show may turn out to be an important deterrent. I think it's great that Mexican authorities have had to deal with the SA wave. Changes the calculus on immigration for them considerably. Have to get immigration law upgraded and in a big way. We've got 20th century policy from it in the 21st century.Mission to CFB's National Championship accomplished. JH chased Saban from Alabama and caused Day, at the point of the OSU AD's gun, to make major changes to his staff just to beat Michigan. Love it. It's Moore!!!! timeComment
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I feel like I am watching the destruction of our democracy while my neighbors and friends cheer it onComment
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Mounting evidence that the US Housing market's 'boom' cycle is over, with Dallas possibly being the potential epicenter of the next 'bust'
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I love how the left is begging for an economic crash.Originally posted by Dr. Strangelove View PostComment
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