I always listen to what Kyle Bass has to say.
"Tariffs come and go," Bass said.
"But how do you negotiate with someone...with the hopes that they would liberalize their economy and do the things they said they would do, and especially don’t do the things they said they wouldn’t do, and yet they’ve done everything exactly as they always have?"
"‘Trade wars are good,’ that was an insane comment to say," Bass said of Trump. "What he should have said is, ‘We’re going to reciprocate with China, where they’re going to let us into their markets, we’re going to let them into ours...’ His actions were proper, but his comments were improper."
"It’s insane how levered this market has become," Bass said.
"You’re starting to see bankruptcies across the board in China that are hard to hide, if you look at the corporate default rate, the bankruptcy rate, M1 and M2 (money supply), the slowest money growth in over four decades."
"We’ll have a reset in China, and I think it will happen in the next couple of years," Bass concluded.
If you were to sum up the Trump presidency so far with one concise statement, I think this would do it.
"His actions were proper, but his comments were improper"
Like my wife has always said about marriage - it's a package deal. Donald Trump got elected because he is who he is. I find it interesting how I can accept his "less than ideal" traits knowing that what he is trying to do for the country is so necessary - while friends of mine cannot see anything other than how much they hate the man.
It's like that philosopher Popeye once said: