Trade War Has Killed 300,000 Jobs And Cost Americans Over $1.6 Billion

Trade War Has Killed 300,000 Jobs And Cost Americans Over $1.6 Billion By Mac Slavo The trade war has so far killed off about 300,000 jobs and cost Americans about $1.6 billion in tariffs. The taxes are driving up prices and businesses are cutting workers to make ends meet in the face of rising costs. There will be no winner in this trade war, and already the United States looks a lot like the loser. Casualties are coming in the form of farm bankruptcies and lost jobs, not to mention…

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Bank of America Warning: The “Big Top Is Coming Down”

Bank of America Warning: The “Big Top Is Coming Down” By Mac Slavo A Bank of America strategist is warning that we should enjoy 2019 right now, while we still can.  A note led by top strategist Michael Hartnett says investors will have to grapple with the long-running bull market as it limps into 2020 because the “big top is coming down.” “We are bullish on risk assets in 2019 as bearish investor sentiment and the irrationality of central banks and bond markets allow an ‘overshoot’ in credit and equity…

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Stocks Plunge After Trump Lashes Out at China, Vows to Retaliate “This Afternoon”

Stocks Plunge After Trump Lashes Out at China, Vows to Retaliate “This Afternoon” By Tyler Durden Anyone who was hoping for a quiet end to the week is currently having a panic attack, as first China announced new tariffs on the US, then Powell’s J-Hole speech came and went, and then, as we expected, Trump responded to China’s trade war escalation when in a barrage of 4 tweets he lashed out at Beijing, saying, “We don’t need China and, frankly, would be far better off without them“, and ordered “Our…

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Farmers Hit Back as USDA Chief Mocks Those Harmed by Trade War as “Whiners”

Farmers Hit Back as USDA Chief Mocks Those Harmed by Trade War as “Whiners” By Jake Johnson Farmers facing record bankruptcies and collapsing incomes due to President Donald Trump’s escalating trade war with China were not amused by U.S. Agriculture Secretary Sonny Perdue’s joke about their economic pain during an event in Minnesota last week. “I had a farmer tell me this in Pennsylvania,” Perdue told an audience of thousands of farmers gathered in a barn near Morgan, Minnesota. “What do you call two farmers in a basement? A whine cellar.” Some…

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Perfect Storm Brewing for Price Inflation

Perfect Storm Brewing for Price Inflation By Clint Siegner A “perfect storm” is brewing for Midwestern farmers. Unending rains have led to the flooding of tens of millions of acres of farmland. The deluge comes on the heels of years of low crop prices. It has the makings of an agriculture disaster on a scale never seen before. The nation may see a “perfect storm” in terms of food inflation. Prices for some farm commodities figure to be a lot higher in the months ahead as markets adjust to dramatically…

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