The disaster continues, following present developments. Musk is destroying state capability (and looting) whereas concurrently lowering spending little or no, and Trump is doing his finest to undermine beforehand allied worldwide relationships whereas really conducting little or no.
On the home entrance, the administration is doing its utmost to destroy confidence and drive a recession. Maybe the plan is that the economic system will emerge from the wreckage by across the midterms, so the enterprise press can gush about development prospects. Though the Home managed to get a funds plan handed, it’s nonetheless not clear that they may agree on something as soon as the dimensions of financial harm is evident.
On the international entrance, it seems that Ukraine agreed to signal a meaningless growth settlement. The actual query is whether or not the Russians will even barely average their maximalist calls for to present Trump a fig leaf to desert Ukraine. In any other case, Tariff Week content material has returned.
As soon as once more, my view is that the percentages of one thing huge breaking is excessive, so previous developments as embedded in financial information releases are a lot much less significant about future prospects.
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(c) Brian Romanchuk 2024
