This is a really good post. If the 122 tariffs were really about a balance of payments crisis equities and bond markets would not be nearly as sanguine.
Cullen Hendrix
We should be talking more about the fact the president of the world’s largest economy just declared it’s facing a payments crisis.
Once, that would have caused turmoil in financial markets. Now it’s just another reason for tariffs.
My latest for @bloomberg.com:
www.bloomberg.com/news/article...
With his move to impose new global tariffs, US President Donald Trump isn’t just trying to repair a trade policy dismantled by a Supreme Court rebuke. He’s also declaring the world’s largest economy i...
