Goldman is out with a pleasant note this evening, laying waste to Trump’s claims that the trade war is advantageous to America — because it’s brining in BILLIONS in new tax dollars. According to Goldman, the entirely of the brunt is falling onto the backs of Americans.
Goldman Sachs said the cost of tariffs imposed by President Donald Trump last year against Chinese goods has fallen “entirely” on American businesses and households, with a greater impact on consumer prices than previously expected.
The bank said in a note that the trade war’s impact on U.S. consumer prices is now higher than previously expected, partly because Chinese exporters have not lowered their prices to better compete in the US market
“One might have expected that Chinese exporters of tariff-affected goods would have to lower their prices somewhat to compete in the US market, sharing in the cost of the tariffs,” Goldman said.
Futures are off by 200.
I’m mature enough to know -215 on the Dow futures on a Sunday night means nothing. By the time markets open tomorrow, they could be +200. However, in the off-chance these losses hold and heighten, Le Fly stands to make a large dicked gain in the morning — presently long SOXS, LABD, DRIP, and NUGT. My cash, which is currently at 50%, will be put to good use.
Truth is, you should’ve went away in May. I did warn you and if you’re getting BTFO in this market — you have no one to blame but yourself. Just know and understand, “The Fly” is mastering this market and will making live calls inside of Exodus tomorrow morning. I’d be interested to see if we edge towards oversold tomorrow and might even flip to extreme long if that should happen.
Although it looks ominous now, with Trump’s trade war boring horrible fruits — it’s literally a self-inflicted wound that could be resolved with one press conference and one deal with the Chinese. Be careful about overstaying your welcome on the short side — for when this squall is over — we’re going to springboard higher with an extreme vengeance.If you enjoy the content at iBankCoin, please follow us on Twitter