Thursday Flip Flop

The madness continues!  

Yesterday, the Dow dropped 200 points as Trade Talks turned sour but then recovered into the close as the White House insisted they were still talking to China but then rumors came out after the close that we were still very far apart but then China invited the US to come to Beijing to continue negotiations and we are back up 200 points yet again into this morning’s open.  That little range pays $1,000 per contract in the Futures EACH TIME – so much fun!  

If only I had a friend in the White House who could tell me which way the wind was going to blow so I could place my bets…  That’s rumored to be happening – a lot – but, so far, no whistles have been blown on that one.  

At the moment, it looks like Trump is going to sign the Congressional Bill censuring China on Hong Kong but the Trade Deal is still being negotiated – so look for lots more rumor-driven swings ahead.  Per yesterday’s Fed Minutes, the Fed is clearly on hold now, and I doubt Trump’s meeting with Powell did anything to change that. Meanwhile, Christine Lagarde will make her first policy speech as head of the ECB and how that policy compares to the US will have a huge impact on Dollar trading.

Over in the UK, Labour leader Jeremy Corbyn will urge voters to take down bankers and billionaires who “profit from a rigged system” when he unveils an Election Manifesto later today.  Britain could turn very, very Socialist overnight if the people decide to finally toss our Boris Johnson’s Conservative Party and, after over two years of bugling through Brexit – that’s a possibility.  

This is going on around the World and the Top 1% need to stop ignoring it and steamrolling discussions about Income Inequality and start thinking of nice ways to fix the problem (like Liz Warren’s Wealth Tax) or, as John F Kennedy warned: “Those who make peaceful revolution impossible will make violent revolution inevitable.” as well as:

See you at the barricades…

Provided courtesy of Phil’s Stock World.