Navarro says there’ll be a recession if Democrats win the White House

Navarro says there’ll be a recession if Democrats win the White House


MARIA: BREAKING NEWS FROM CHINA A WILD 30 MINUTES REUTERS REPORTING BEIJING WILL RAISE THE IMPORT TARIFF RATE ON 75 BILLION DOLLARS WORTH OF U.S. GOODS GOING INTO CHINA, BACK WITH ME NOW DIRECTOR FOR THE OFFICE TRADE MANUFACTURING POLICY HE PETER NAVARRO I WANT TO WRAP THIS UP WITH A LOOK AT ECONOMY WE AS YOU A DIRECT IMPACT OF THE TRADE WAR WITH BEIJING ANNOUNCE FIVE TO 10 PERCENT TAX RATES ON 75 BILLION DOLLARS OF U.S. GOODS MARKET WAS UP 80 POINTS NOW DOWN 144 POINTS, WHAT DO YOU WANT TO SAY TO THOSE PEOPLE WHO HE SAY THIS IS THIS IS EVIDENCE THE TRADE TARIFFS THAT ARE IN PLACE ARE WORSENING ECONOMIC CONDITIONS AND MARKET CONDITIONS, AND THEY ARE SEEING CHINA RETALIATE AS YOU EXPECTED THEM TO DO?>>SO — WHAT’S — LET’S START WITH OBSERVATION THAT SMART INVESTORS HERE NOT DAY TRADERS OR SHORT SELLERS, NEED TO SEE THESE KINDS OF — EVENTS AS TRAPS TO STAY AWAY FROM OKAY? WE HAD A LITTLE SWING FROM WHERE FUTURES WERE TO WHERE THEY ARE NOW. BUT. MARIA: NOW WE ARE AT LOWS 165.>>IN SCHEME OF THINGS THE BULLISH SCENARIO WE’VE GOT TRUCEO TRUMP ECONOMY SOLID AS A ROCK, TRADE REFORMS GETTING US TO — TO 2% ONLY WAY RECESSION IN THE DISTANT FUTURE IF DEMOCRATS IN WHITE HOUSE FULL STOP, CONGRESS HAS TO DO THEIR PART I THINK THEY WILL PASSING USMCA WE KNOW THAT EUROPE CENTRAL BANK GETTING READY FOR A MONETARY EASING THAT IS GOING TO BE REALLY GOOD FOR U.S. ECONOMY BECAUSE IT IS GOING TO BOOST OUR EXPORT THE DEMAND ONLY GOOD FOR U.S. ECONOMY IF FED ALSO LOWERS RATES IN THAT CHESS MATCH TO MATCH THE CUT, OTHER THINGS IN PLAY, ARE THE GERMANY FISCAL SURPLUS POSSIBILITIES, AND NEAR CERTAINTY THAT THE BREXIT ISSUE IS GOING TO BE HE RESOLVED THE OR THING TRADE FIGHT.>>HOLD ON I AM NOT DONE YET WE HAVE HAD CENTRAL BANKS 30 CONTINUE TO LOWER RATES AT SOME POINT THAT KICKING IN IN TERMS OF SLOWDOWN. AND CHINA, I MEAN FOR ME, THE BIGGER NEWS FOR CHINA WILL LIKELY BE THE ANNOUNCEMENT OF A SECOND FISCAL STIMULUS WILL HELP EMERGING MARKETS COMMODITIES IT IS NOT JUST THAT U.S. IS STRONG THE COUNTER CYCLICAL POSITIVE DIRECTION FORCES ARE IN PLAY WE JUST HAVITY PATIENT. MARIA: S I WILL BRINGING IN PANEL IN A DISCONNECT WHEN A DO YOU WANT TO HEAR FROM JAY POWELL IN AN HOUR AND HALF WHAT IS MOST IMPORTANT TO HEAR FROM JAY POWELL FROM YOUR STANDPOINT?>>UH NUMBER ONE THAT THE MOST IMPORTANT THING IS — IS TO GROW MAXIMIZE GROWTH RATE OF THE ECONOMY, NOT MINIMIZE THE EMPLOYMENT RATE, DO — GROW WITHOUT CAUSING INFLATION. SO THAT IS NUMBER ONE, NUMBER TWO, I WOULD LIKE TO SEE SOME ACKNOWLEDGEMENT OF THE CHESS MATCH HERE, WHEN OTHER CENTRAL BANKS AROUND THE WORLD ARE LOWERING THEIR RATES THAT DOES HAVE NEGATIVE CURRENCY EFFECTS AND WE NEED TO MATCH THEM SO THAT WOULD BE VERY USEFUL. MARIA: .>>OKAY.>>MOST THING THE MOST IMPORTANT THING WOULD I LOVE TO HEAR FROM JAY POWELL TODAY AMERICA WE HAVE YOUR BACK THAT IS ALL HE HAS TO SAY. MARIA: OKAY ALL RIGHT THAT IS AN IMPORTANT POINT, AND THE FINAL QUESTION.>>VERY IMPORTANT POINT. MARIA: FINAL QUESTIONEE PETER MARKET IS REACTING DOWN 175 POINTS TO BEIJING MOVE BECAUSE MARKET SEES THE TRADE WAR AND THIS RETALIATION FROM BEIJING, AS EVIDENCE THAT PRICES ARE GOING HIGHER, AND THE ECONOMY IS GOING TO SLOW. DO YOU AGREE?>>NO, I DON’T AGREE. WE’VE HAD A TARIFFS IN PLACE FOR A VERY LONG TIME, CHINA IS BEARING THE ENTIRE BURDEN SLASHING THEIR PRICES, SLASHING THE CURRENCY VALUE AND BY THE WAY, THEY ARE HEMORRHAGING, HEMORRHAGING SUPPLY CHAIN OUT TO REST OF THE WORLD AND BACK HERE IN HERK. AND THAT IS GOOD FOR AMERICA, BOTTOM LINE AMERICA IS UNITED BEHIND PRESIDENT TRUMP STOPPING CHINA FROM STEALING OUR TECHNOLOGY INTELLECTUAL PROPERTY AND KILLING AMERICANS WITH FENTANYL. AND I THINK, FOR INVESTORS, BE ASSURED OF THIS, NEGOTIATIONS WILL CONTINUE AS THEY HAVE BEEN THEY WILL BE DONE BEHIND CLOSED DOORS AND FOLLOWING NAVARRO’S RULE IF YOU HEAR ANYTHING ABOUT NEGOTIATIONS DOESN’T QUOTE SOMEBODY SPECIFICALLY, ON THAT TRADE TEAM, THEN YOU ARE GETTING LIED TO. MARIA: LETTER ALL RIGHT PETER

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About the Author: Oren Garnes

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  1. Let's get this straight. The US GDP has reached $23 trillion (with a T), and the total amount of money that the US exports American goods each year to China, is about $170 billion (with a B), which is NOTHING compared to the US GDP. It's approximately less than 1% of the US GDP or 0.74% to be exact, so what's the big deal about the trade deal with China? Stopping the trade deal with China is the right thing to do because it didn't bring any great benefits to our American economy AT ALL!  The ratio of the yearly trade money with China to our economy GDP proved that our country is doing just fine, with or without China.

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