iBankCoin
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
18,705 Blog Posts

US Trade War With China Jeopardizes $158 Billion in Sales

Some of you will convince yourselves today that the arrest of the heir apparent to the Huawei tech giant is a non-event. You’re so embedded in your cognitive dissonance, spoiled from a decade’s long bull market, you’ll ignore actual happenings even though it’s as clear as day, in black and white, right in front of your fucking faces.

Last night’s revelation that Canadian authorities arrested the CFO of Huawei, daughter to the founder of China’s largest tech company, is a complete and utter game changer. What sort of force did the Canadian authorities use to arrest here in the heavily Asian enclave of Vancouver? She’s been in jail since December 1st and is due for a bail hearing on fucking Friday — treating her like a common thief. She is supposed to be extradited to the southern district of NY — aka Brooklyn. You’ve got to be kidding me.

With this news, coupled with the specter of the trade war getting even worse with China, how can you seriously consider US business in China secure? Think about that for a minute. Throw China out of your models and what do you get? What sort of numbers, fuckers? Who does the most business in China?

Kiss goodbye $158b in sales.

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9 comments

  1. acehood

    Dramatic.

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  2. dragun

    I don’t care what dimension of chess this supposed to be. This is FUBAR. Unless Xi wants the old man Meng (Zhengfei) to bend the knee for some reason.

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  3. ferd

    There’s a lot we don’t yet know. If she’d been detained yesterday, I’d dismiss it as a fuck-up by some of Trump’s psychos. But since he’s had since the first of the month, you’d have to guess he’s OK with this.

    Hope the Chinese are sufficiently hooked of selling us stuff for dollars to act like the big boys.

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    • numbersgame

      “I’d dismiss it as a fuck-up by some of Trump’s psychosis.”

      Fixed it for ya’. She’s a foreigner and female. Probably short, too, which would be strike three in Trump’s mind.

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    • chuck bennett

      She was locked up Dec 1st. They knew for sure, unless they didn’t.

      The idea Xi didn’t mind this played out in my mind a few times.

      Regards

      Chuck Bennett

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  4. roundwego

    Moral Hazzard is global. The dark secrets comes out as the elites go at each other. That is the final stage when the elite go at each other as the pleb revolt.

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    • ferd

      Secrets don’t matter. The past couple decades have demonstrated that secrets can be exposed, but the majority of people will simply go along with whatever narrative their team wants them to accept. Only when really hard times come to the plebs do they act out – and when they act out they don’t aim, the get misdirected and they generalize by race, religion, tribe, etc.

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  5. ferd

    Will the dollar continue to get the safe haven bid? If it does, this isn’t the end.

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    • roundwego

      You must be a young trader and have not gone through a whole credit cycle. Nor understand what happens when central banks are out of trix and gave to reload.

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