12.03.2019

Thoughts on a #TradeWarTuesday

1) We're going to need to decouple from the evil Chinese regime. This started as a crazy Trump position but is now bipartisan consensus. This will be painful for multinational corporations.

2) Trade war with Europe is just starting up over the French digital tax. Buckle your seat belts.

3) Central banks are going to have to print like mofos to keep asset prices up. And they will. Add in some fiscal diarrhea even in formerly austere places like Germany.


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Milestones

I talk a lot about inflation. But today was the first time in my life I actually used a dollar bill as toilet paper.