Mike “Mish” Shedlock's
Sitka Pacific Capital Management,Llc
"I am the chosen one" says president Trump.
U.S. President Donald Trump said on Wednesday his life would be easier if he had not mounted a trade war with China but said “I am the chosen one” to take on Beijing.
Chosen One Considers Options to Spur Economy
Yesterday, the chosen one said he was Considering Options to Spur the Economy.
Executive Order
Bloomberg reported Trump Says He Can Order Capital Gains Tax Break Without Congress.
President Donald Trump said he can cut taxes by indexing capital gains to inflation without congressional approval, a move the White House has been considering for months that would largely benefit the wealthy.
“We’ve been talking about indexing for a long time,” Trump told reporters at the White House on Tuesday. “And many people like indexing and it could be done very simply. It could be done directly by me.”
This was despite the fact the "economy is very strong"
Chosen One Reverses Course
Today, the Wall Street Journal reports In Reversal, Trump Says He Is No Longer Considering Tax Cuts
“I’m not looking at a tax cut now,” Mr. Trump said in comments to reporters on the South Lawn of the White House. “We don’t need it. We have a strong economy.”
Full Circle in a Day
Well, that took all of one day to go full circle.
Economy So Strong That
The economy is so strong that Trump continually heaps more pressure on Powell to cut rates.
Doing Great With China
Please note that the US is "Doing great with China and other trade deals".
We have been doing "great" with China on and off for at least a year. Today, I see things are "great" again. How refreshing.
What else?
Things are going so well with Japan that it will now take huge tariff cuts by Japan just for the US to break even with where we could have been relative to Australia and Canada.
Doing great with China is of course expected.
After all, Trump is the chosen one. And the chosen one has spoken.
This material is based upon information that Sitka Pacific Capital Management considers reliable and endeavors to keep current, Sitka Pacific Capital Management does not assure that this material is accurate, current or complete, and it should not be relied upon as such.
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold climbs above $2,340 following earlier drop
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.