Wall Street Is Starting To Panic
When asked if he had a deal deadline, he added: “I have no deadline, no … In some ways, I think it is better to wait until after the election if you want to know the truth.”
President Trump is attempting to spin things to make it sound like it is his decision to hold off on a trade deal, and that may be a politically savvy thing to do.
But the truth is that the Chinese never wanted to do a comprehensive trade deal with Trump. They have been stringing him along all this time, because they wanted to delay Trump’s tariffs for as long as possible. But their original intention was to wait until a Democrat was in the White House to cut a deal.
Especially if the next round of tariffs go in as planned, expect a recession to start in January, and maybe something much worse, depending on which dominos start to fall.
This could be delayed if Trump continues injecting QE at a rate of 1 TRILLION or more per year.