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18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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China Agrees to ‘Substantially Reduce’ Trade Imbalance — Bears to Get BTFO

Late last week all of the rumor milling had to do with China telling America to fuck off and how a deal was not gonna happen. We had Peter “Fuck China” Navarro out there — talking shit — cursing out people at the dinner table, and of course the Chinese Minister who roundly rebuked the report that China would slash the trade deficit by $200b.

Lo and behold, that’s exactly what the fuck is going on here. Peter and his “China Last” delegation has been showing slideshows of US military might and how we drop bombs on people for small shit — like looking at the US sideways. Our intimidation campaigns appear to be bearing some delicious fruit. The homohammers from CNBC, regrettably, now report that China is gonna slow their roll and reduce the speed by which they fuck the Statue of Liberty.

Source: CNBC (dick handlers)

China and the U.S. have mutually agreed to “substantially reduce” the yawning trade imbalance between the two countries, a joint statement read on Saturday, in a move that will involve the Chinese boosting more of what they buy from American producers.

Amid fears of a global trade war and rising tensions between the world’s two largest economies, both China and the U.S. have entered bilateral talks to bolster cooperation. In a statement issued by the White House, both parties forged a “consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China.”

Just a day ago, both countries were sharply at odds over a claim, made by White House Economic Advisor Larry Kudlow, that China would move to cut its trade deficit with the U.S. by $200 billion annually.

Left unclear was exactly how much the Chinese would boost its purchases of U.S. goods. The Wall Street Journal reported on Saturday that American negotiators fell short in their efforts to get the Chinese to commit to an exact deficit reduction figure, with the two sides bickering all night over the statement’s language.

The trade imbalance has long been a thorny and intractable topic in the Sino-US relationship. Commerce Department data recently showed that imbalance between what China buys from the U.S. and vice versa hit a record in 2017 at over $375 billion.

On this news, I expect ancient wooden machinery to be wheeled into the city square first thing Monday morning. The townspeople will gather and dissidents will be rounded up for expeditious clippings from the dick guillotine.

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25 comments

  1. moosh

    Whoa, $ZX? That’s out of the blue. Do people in China ride things other than bicycles? Me likes. Thanks Fly.

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  2. Phileo99

    Late last week? How about just over 24 hours ago.
    How did Xi JinPing go from denying any trade deal to bending the knee in just over 24 hours?

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    • moosh

      Wheeling and dealing. Some people like to kinive and undercut you at every opportunity, but most just want to make a fair trade and think they got a deal.

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  3. Dr. Fly

    THE ART OF THE DEAL

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    • moosh

      I wonder what the ratio of people killed by drones and such for Trump and Obamy thus far in term is?

      Did you see Putin has some sort of underwater drone capable of producing 300ft tsunami’s?

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  4. wolfdaddy

    All you faggots have to admit the wins are starting to add up. Where would we be with Jeb or Hillary? Fucked

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    • wolfdaddy

      Checkin in on cnn and huff post, both have an article on Don jr and gulf state meeting and the rest are about some ginger getting married

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    • ferd

      Trump, like both his predecessors, is hastening the end of our dominance. He ain’t won nuthin. Going back on the Iran nuke deal will be remembered as the turning point where nations started to seek alliances, trading agreements, and currency regimes that are not in the US’s interests.

      Sad.

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      • donkeyboy

        too bad no one gives a shit because US interests are the most important interests around and no one worth it is going to risk that

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      • moonshot

        The Saudis will take care of Iran. Wheels have been in motion for quite some time. Trump’s Administration just has much better OpSec than his predecessors.

        I have never been more bullish on real change and peace in the Middle East.

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  5. acehood

    Semantics. They’re letting Trump save face and waiting out his term. This is a culture that plays for the long term.

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    • moosh

      Haha. You got a momo play? I’m all out.

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    • ferd

      It’s a culture where folks are more inclined to leave shit to Caesar. Individually, Chinese are as into near instant gratification as the next culture.

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  6. cancel19

    Friday, I loaded up with $SPY calls. The short’s Catherine wheels will be turning pure profit for my holdings! MAGA!

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  7. numbersgame

    “Bending the knee”?
    “Art of the Deal”?
    “Wins adding up”?

    I’ve got a speacial 3-for-1 sale on bridges that you guys should be interested in. Let me break it down for you:

    “There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China. ”
    The obvious note is that there wasn’t a dollar figure given, which makes this weaker than water. Even sadder, the Chinese delegation wouldn’t agree to reduce the deficit, but instead, to “take measures” to reduce the deficit. In other words, if the trade deficit increases, the Chinese could still say that they met their promise.

    “China will significantly increase purchases of United States goods and services.”
    Big deal. This happens every year becuase China is a growing economy. The problem is that US significantly increase purchase of Chinese goods and services by an even larger amount.

    “Both sides agreed on meaningful increases in United States agriculture and energy exports.” Once again, China is making a promise to continue doing what they’ve already been doing. No change in policy.

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    • numbersgame

      TL;DR version:

      Trump’s delegation: “The trade deficit with China is a big problem for us.”
      China: “We value your opinions and feedback. Please take a few minutes to fill out our survey.”

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  8. ferd

    Polling indicates that most of the world now thinks that the US is the major douche on planet earth. Nope, not the Jihad guys, not the commies …but us.

    This is new. This is bad. Are we doing anything to stop this trend?

    Psycho warmongers are drawn to seek the levers of power over whatever big dog emerges. We’re the big dog and we let the psychos take over. Nothing new here ….history repeats.

    Sad.

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    • wolfdaddy

      I have traveled the world and they thought that long before trump came around. So fuck them all

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    • numbersgame

      The US acts as the world’s parent (for good or bad). While it’s true that we often stick our noses where we shouldn’t, it’s even more true that the US is vastly underappreciated (just like parents).

      Does Asia want our fleets to leave the Pacific Ocean? No.
      Does Europe want our tansk to leave their eastern borders? No
      Does Africa want us to stop or humanitarian and food aid? No (although our military aid to the ME dwarfs our non-military aid to the rest of the world).

      Again like parents, it probably would be better for the US and the world if we did withdraw a little bit more, especailly on the military side of things. However, that would not be in the interest of multinational corporations, which use US military might to enforce their will.

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      • ferd

        “Does Africa want us to stop or humanitarian and food aid? No (although our military aid to the ME dwarfs our non-military aid to the rest of the world).”

        Glad you qualified that. Our humanitarian and food aid is near zip. Our three biggest recipients of aid are Israel, Israel (via Egypt) and Israel (via Jordan).

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      • juice

        You must mean that the USA is vastly underappreciated for ex. for the following:

        The crimes of US foreign policy and US military from 1945 to 1999

        1945, Germany: The US secret service CIC builds up a mercenary army of 35,000 men from specialists of the SS and Nazi collaborators for the guerrilla mission against the Soviet Union. The CIC takes over the Nazi espionage department’Fremde Heere Ost’ as’Organisation Gehlen’ and starts a targeted sabotage and destabilization strategy in Eastern Europe. The’Organisation Gehlen’ becomes later as’BND – Bundesnachrichtendienst’ the official secret service of the Federal Republic of Germany. One of the numerous SS and Gestapo specialists taken over by the US secret service and protected from persecution was Klaus Barbie, who had organised the deportation of French Jews from Lyon to German extermination camps. In 1951 Barbie was brought to Bolivia by the CIA under the name’Klaus Altmann’, from where he conducted death squads against left-wing politicians and trade unionists throughout Latin America on behalf of the CIA.
        During a massacre in Chenogne, Belgium (about 8 km from Bastogne) on New Year’s Day 1945, American soldiers shot around 60 German prisoners of war from the Wehrmacht after receiving the order not to take prisoners.

        1945 Belgium, New Year’s Day: After American soldiers were ordered not to take prisoners, they caused a massacre in Chenogne, Belgium (about 8 km from Bastogne) and shot around 60 German Wehrmacht prisoners of war on New Year’s Day 1945. (List insert: according to plejaric information)

        1945/49, China: In the Chinese Civil War, the USA intervenes against the Communists on Chiang Kai-shek’s side. To this end, they deployed Japanese soldiers who they captured after surrendering in the Second World War.

        1945/53, Philippines: US troops take action against the left-wing Huks already at the time when the Philippine resistance fighters were still fighting against the Japanese invaders. After the war, the Huks are brutally beaten down. The USA use a number of puppets, after all they make Ferdinand Marcos a strong man.

        1947/48, Italy: The US secret services arm the Mafia as a terrorist group of the right against communists and socialists. For this purpose, gangster specialists from the USA are brought to Italy.

        1946/49, Greece: Together with British troops, US units and US weapons are responsible for the defeat in the’Greek Civil War’ of the anti-fascist resistance movement that had carried the main burden in the fight against the German occupation. The CIA is setting up the infamous KYP internal security police.

        1950, USA: The National Security Council (NSC) presents a new security strategy under the file number NSC 68, according to which revolutionary changes in the world are not due to internal social causes but to’Soviet imperialism’. Based on NSC 68, the United States deploys more than one million soldiers at 675 military bases overseas. 215 US military interventions will take place worldwide by 1975.

        1950, Puerto Rico: US command troops strike down a rebellion for national independence.

        1950/53, Korea: In the conflict between Stalinist North Korea and the Syngman rhee dictatorship in South Korea, the US intervenes on the side of the South and obtains the approval of the UN Security Council.the US Air Force destroys almost 120,000 facilities in North Korea. the US use of explosives corresponds to almost half of all bombs and ammunition used by the USA in the Second World War. Over 500 000 people are killed in South Korea and over two million in North Korea.

        1951 Bolivia: The illegitimately born Klaus Barbie alias Klaus Altmann, born October 25, 1913 in Godesberg; died September 25, 1991 in Lyon, was a German Nazi war criminal convicted more than once and was brought to Bolivia by the US American secret service CIA under the name’Klaus Altmann’, from where he conducted all of Latin America on behalf of the CIA death squads against left politicians and trade unionist. Klaus Barbie was responsible for the deportation of Jewish children and adults to Auschwitz in Lyon/France, as well as hostage-taking, treachery and cruelty. From 1942 to 1944 he was Gestapo chief of Lyon and was known as the’Butcher of Lyon’ due to his cruelty.

        1953 Iran: The elected Mossadegh government decided to nationalize the Anglo-Iranian Oil Company in 1951. In August 1953 it is confirmed in a referendum with 99.4 percent of the votes. Two weeks later, the officer corps, trained and controlled by the CIA, conducts a coup. The previously English oil companies will be taken over by a US consortium. The US brings the Shah back into the country and liquidates Iranian democracy.

        1954, Guatemala: The CIA organizes the coup against the lawful Arbenz government in Guatemala, which wants to nationalize the US company United Fruit Company as part of the land reform. Under the military dictatorship hefted into office by the CIA, 140,000 Indians are killed or disappear without a trace.

        1956, Egypt: The US government and the CIA destabilise the rule of President Nasser, who has become one of the leaders of non-aligned countries. In July 1956, the USA withdraws its loan for the Aswan dam, the central project for the development of Egyptian agriculture. Nasser then announced the nationalization of the Suez Canal in order to dispose of the fees himself. England, France and Israel attack Egypt in concerted military actions. In the wake of the’Suez crisis’, the USA took on the role of number one in the Middle East, which had previously played England.

        1958, Lebanon: 14 000 US Marines occupy the country.

        1961,Cuba:On January 1, 1959, the revolution led by Fidel Castro against the dictator Batista finally prevailed, and as the revolution attempted to live up to its promise and reduce land ownership, the United States imposed an embargo and a variety of acts of sabotage on Cuba. In March 1960, the French freighter’Coubre’ in the port of Havana is blown up by CIA agents; 81 people are killed and over 300 wounded. In Guatemala, the CIA trains a mercenary army that invaded the Bay of Pigs in eastern Cuba in April 1961. Two days earlier, US airmen had bombed the defensive positions of the Cubans. The transport ships of mercenaries and weapons are financed by US big business, especially the United Fruit Company, which had been the largest landowner in pre-revolutionary Cuba. When the invasion fails, the USA moves to a sharp blockade policy, which brings Cuba into acute supply distress after the disappearance of the socialist countries.

        1961, Congo/Zaire: CIA mercenaries assassinate the first post-colonial President Lumumba, who took an anti-imperialist position, the mercenary troops gradually take power; in 1965 Mobutu becomes President of Graces of the USA, who establishes a decade-long regiment of terror.

        1962, Laos: Although the Geneva Convention prohibits the presence of foreign troops in Laos, the CIA is building a secret army,’US Army Clandestine’, on behalf of the Kennedy government, which also intervenes in Vietnam. 35,000 members of the opium-growing mountain tribes belong to the CIA. The costs of the army are partly financed from the profits of the drug business.

        1963-1975,Vietnam: In 1954, the Indochina Agreement of Geneva stipulates that the troops of the Democratic Republic of Vietnam should first withdraw to the north of the country, the troops of France to the south. The final comment of the agreement provides for the unification of the country. The US does not accept this Final Declaration. In South Vietnam they use convenient satraps, in 1963 an open military dictatorship. In 1964 they staged the’Incident in Tonkin Bay’ near the North Vietnamese capital and bombed North Vietnam from 1965. A total of 2.6 million US soldiers are fighting in Vietnam. The explosive power of their bombs and missiles exceeds that of the Second World War by a factor of three. Area bombardments with napalm and chemical weapons leave behind large areas of burnt and contaminated earth. In Vietnam, three million people die and half a million are crippled. 900,000 children are left orphaned.

        1963-1990, South Africa: With its reconnaissance systems, the CIA supports the hunt for opponents of the apartheid system. 120,000 ANC supporters killed. The arrest of Nelson Mandela is also organized by the CIA.

        1964, Brazil: President Joao Goulart, elected in 1961, initiates cautious social reforms. When he imposes maximum limits on the outflow of profits abroad and nationalizes a subsidiary of the US company ITT, the CIA organizes a coup and helps a military junta to power.

        1965, Dominican Republic: President Juan Bosch, democratically elected in 1963, is removed by the military because of his social reform plans. As a growing popular movement demands his return, the U.S. sends 23,000 men to the island and defeats the insurgency.

        1965, Indonesia: Against the anti-imperialist course of President Sukarno, the CIA puts the army under its control in position. When the left’Popular Front’, the strongest support of the president, tries to disempower the army leadership, the long-planned’counter-attack’ takes place. Hundreds of thousands of Sukarno followers are murdered. Sukarno is replaced by Suharto, an unconditional follower of Washington.

        1967, Greece: A few weeks before the elections, the CIA stages the’Obrist coup’ against the Papandreou democratic government. In the first month alone, 8,000 people die. A seven-year fascist rule begins. 1967, Bolivia: The CIA directs the fight of the Bolivian army against the insurgent guerrilla and also the arrest of the group of Che Guevara, who is murdered.

        1970-1973, Chile: In 1970 the candidate of the’Unidad Popular’, Salvador Allende, wins the majority in the presidential elections. When the head of the Chilean army, René Schneider, resists the pressure of the USA to hold a military coup, he is murdered by a command organized by the CIA. After three years of sabotage and destabilization, Schneider’s successor, General Pinochet, conducts the CIA putsch. President Allende is murdered and the football stadium in Santiago becomes a prison camp for tens of thousands of supporters of the democratic president. Thousands of left-wing activists and trade unions are being chased and killed by death squads. US Secretary of State Kissinger comments on the actions of his government: “I don’t see why we should allow a country to become Marxist simply because the population is insane.

        1972 ff, Honduras: After direct interventions by the USA and military coups in 1972, 1975 and 1978, the USA imposes a Constituent Assembly, for whose election Christian Democrats, Socialists and Communists are not allowed (1980).

        1974, Cyprus: Together with the fascist Greek junta, the CIA and the US State Department organize a coup against the democratically elected president of the island state, Archbishop Makarios. The president can escape the assassination attempt. When the Democrats in Athens chase away the Obrist junta, US Secretary of State Kissinger moves to the side of Turkey, which has attacked Cyprus. Thousands are killed, 200,000 people lose their homes.

        1975, East Timor: The USA refuses to recognise the republic proclaimed by the liberation movement Fretilin (previously a colony of Portugal) and supports the invasion of the country by the Indonesian Suharto regime, which is economically and militarily supported by the USA. 200,000 people are killed in the subsequent massacres.

        1976, Argentina: The CIA leads a military coup against the civilian government. Death squads on behalf of the Videla regime terrorize the country. Thousands are murdered or disappear forever. The CIA expands Buenos Aires to its headquarters, from where it sends murder squads against unpopular people and groups throughout Latin America.

        1976/82, Angola: The USA supports the rebels against the government of national liberation, including those equipped by racist South Africa, with weapons and special commandos. The country is sinking into a self-destructive civil war.

        1980-1988, Iran/Iraq: In 1979, US governor Shah Reza Pahlewi must give way to Shiite leader Ayatolla Khomeini in Iran.US President Carter then draws up the doctrine named after him: “An attempt by a third power to exert influence in the Persian Gulf is seen as an attack against vital interests of the United States and is fought back by all necessary means, including military force”. The USA is equipping Iraq with the most modern, including chemical weapons to attack Iran. With the start of the 1980 offensive, Iraq was also supported with reconnaissance material from satellites and Awacs aircraft. Hundreds of thousands die in the eight-year war. In 1984 the USA shot down two Iranian fighter planes over the Persian Gulf, in 1987 the US warship’Vincennes’ brought down an Iranian Airbus – 270 civilians were killed. With the military support of the USA, Iraq becomes a regional military superpower. At the same time, the US is supporting Iran with the goal of both countries mating each other. Weapons worth 80 billion dollars are being delivered to Iran via Israel. The arms deal with Iran passes the US Congress. With the Iranian billions, the Reagan government around the world can maintain’contras’, mercenary units against unpopular governments.

        1980-1990, Afghanistan: The CIA hires Islamic fundamentalist activists from all Arab countries to use them as’holy warriors’ against the Sovist-backed government in Afghanistan. Among the terrorists formed by the CIA is bin Laden, whose organization’Al Qaeda – The Base’ is being formed under the aegis of the CIA. To finance the guerrillas, the CIA is organizing drug cultivation in Pakistan and the’liberated’ areas of Afghanistan together with the Pakistani secret service. Drug trafficking all over the world is handled with the help of CIA logistics. After the defeat of the Soviet Union in the USA, the’Arab Afghans’ of the CIA find a new goal of their’Holy War’.

        1981/85,Nicaragua: From the arms trade with Iran, the US government finances the establishment and maintenance of a mercenary troop in Nicaragua, consisting mainly of soldiers and officers of the army of the former dictator Somoza. This use of several thousand’contras’ contradicts an explicit determination of the US Congress. The US pilots take weapons via Costa Rica, Honduras and Panama, and on their return flight to the USA they take drugs that reach the USA in this way. The CIA’s partner is the Medellin drug cartel. In 1986, the International Court of Justice in The Hague ruled that the paramilitary actions of the USA had violated international law.

        1981/92 ff, El Salvador: The FMLN (National Liberation Front Farabundo Marti) becomes the determining force against the government appointed by the USA. CIA agent Roberto d’Aubuisson founds the ARENA, whose death squads kill thousands of opponents of the regime, including Archbishop Oscar Romero. Even after the 1992 peace agreement, the ARENA continues its assassinations, which the UN condemns on several occasions.

        1982, Falklands/Malvinas: The USA supports Great Britain in its campaign to recover the islands off Argentina with satellite reconnaissance and other technological facilities. 750 Argentinean and 250 British soldiers are killed in the operation.

        1982/84, Lebanon: Using warships and warplanes and their marines on land, US troops expel the PLO and install the Phalangists as the dominant power. The Marine Corps in Beirut is attacked and the US Navy attacks the country from the sea.

        1983, Grenada: The USA invades the small Central American country, liquidates the leftist government and establishes a regime that suits them. Over four hundred Grenadanians and 84 Cubans, mainly construction workers, are killed.

        1984/86, USA-Libya: In his National Security Directive No. 138, President Reagan declared the fight against state-sponsored terrorism a priority goal in 1984. Two years later Libya becomes the first test case of the new doctrine. The bombings claimed at least 40 civilian victims, including the daughter of head of state Ghaddafi.

        1986, Haiti: After the US vassal’Baby Doc’ Duvalier can no longer be held, the USA installs a military junta.

        1986, Bolivia: US army units control large parts of the country, allegedly to combat cocaine cultivation and trade.

        1989/90, Panama: A bombardment destroys parts of Panama City. 27,000 US soldiers take control and arrest the Noriega government. Over 2,000 people die, 15,000 become homeless. Allegedly it concerns the arrest of Noriega, who is accused of drug trafficking. A crime that the ex-president committed for years with knowledge and to a large extent on behalf of the CIA. The invasion takes place two months before the elections in Nicaragua, where the Sandinista are competing with good prospects.

        1991, Haiti: The CIA initiates a military coup against the first democratically elected president, Jean-Bertrand Aristide. The new military junta plunges the country into a three-year period of worst human rights violations.

        1991 ff, Iraq: After the invasion of Kuwait by Iraq, the USA bombards Iraq with some allies and occupies large parts of the country. 200,000 people are killed in the first attacks. Further bombing and the embargo, which continues to this day, have led to the deaths of possibly two million people.

        1992/94,Somalia: US troops, naval and air forces side with their allied factions in the civil war as part of a UN mission. The operation ends in a fiasco.

        1993/95, Bosnia: In the context of NATO actions, fighter planes bomb Serbian positions and provide air sovereignty for Bosnian secessionists.

        1995, Croatia: US fighter planes bomb Serbian airfields in preparation for a Croatian offensive.

        1998, Afghanistan: Cruisemissiles attack on former CIA training camps in Afghanistan, where units of bin Laden are suspected of being responsible for attacks on US embassies.

        1998, Sudan: Rocket attack on a pharmaceutical factory that allegedly produces nerve gas for terrorists. The United States later declared that there had been a mistake.

        1999, Yugoslavia: Led by the USA, NATO bombs Yugoslavia. The 78 days of bombings, which are contrary to international law and even the NATO treaty, NATO calls a’humanitarian action’ because it is about stopping the human rights violations of the Milosevic regime. NATO uses uranium ammunition and cluster bombs. 2000-4000 people are killed, up to 6000 injured, contaminated by bombing of chemical factories, natural gas plants and oil refineries. Kosovo is split off from Yugoslavia and becomes a de facto NATO protectorate.

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  9. ferd

    Good read highlighting of some of the issues that have arisen as a result of our president being allied with psychozealots.

    https://www.zerohedge.com/news/2018-05-20/brussels-rises-revolt-against-washington-turning-point-us-european-relations

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  10. tradingnymph

    IMHO it really is more a Win for China, US just got a lame promise to buy more Agriculture from us and the Products China wants are our companies, not our toasters…..from global times..The US wants China to help reduce its trade deficit in a planned economic way. China persists with the view that the goal must be achieved through market methods that create a trade balance. China believes that to reduce the US trade deficit, the US should further open its domestic market to Chinese buyers. US products must meet the expectations of the Chinese market to stimulate China’s purchasing activities. This is the key point behind the trade dispute between China and the US.

    From this perspective, the agreement signed by China and the US today has followed the win-win principle. The US will have the opportunity to reduce its trade deficit with China, while China will achieve the consistent purchase of US goods to benefit the development of the country and its people’s life. The US has promised to break its control of energy exports to China, which will diversify China’s energy import channels. The US will sell more agricultural products to China, the equivalent of “exporting” agricultural technologies to China.

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