Update: President Deals thinks that China agreed to "something" related to trade but no one is sure what the hell it is and it might not actually exist.

[SuperSpreader]

Make America rich again... 

[PaladinSolo]

Senators pushing bill to limit Trump's ability to introduce tariffs.

 

https://thehill.com/blogs/floor-action/senate/391048-senators-introduce-bill-to-curb-trumps-trade-authority

 

"If the president truly believes invoking Section 232 is necessary to protect the United States from a genuine threat, he should make the case to Congress and to the American people and do the hard work necessary to secure congressional approval," Sen. Bob Corker (R-Tenn.) said in a statement announcing the bill.

 

In addition to Corker, Sens. Heidi Heitkamp (D-N.D.), Pat Toomey (R-Pa.), Mark Warner (D-Va.), Lamar Alexander (R-Tenn.), Brian Schatz (D-Hawaii), Ron Johnson (R-Wis.), Chris Van Hollen (D-Md.), Mike Lee (R-Utah), Jeff Flake (R-Ariz.), Ben Sasse (R-Neb.) and Johnny Isakson (R-Ga.) are supporting the bill.

"There is no real national security threat that these tariffs are a response to. They are an effort to impose a protectionist policy for economic purposes," Toomey said in a floor speech blasting the administration's decisions.

 

The bill would require Trump to submit tariffs implemented under Section 232 of the trade law for approval to Congress. Any approval legislation would then be fast-tracked through both chambers.

Senators are introducing the legislation despite receiving pushback from Trump, who earlier on Wednesday privately urged Corker not to file his bill.

[Jason]

1 minute ago, PaladinSolo said:

Senators pushing bill to limit Trump's ability to introduce tariffs.

 

https://thehill.com/blogs/floor-action/senate/391048-senators-introduce-bill-to-curb-trumps-trade-authority

 

"If the president truly believes invoking Section 232 is necessary to protect the United States from a genuine threat, he should make the case to Congress and to the American people and do the hard work necessary to secure congressional approval," Sen. Bob Corker (R-Tenn.) said in a statement announcing the bill.

 

In addition to Corker, Sens. Heidi Heitkamp (D-N.D.), Pat Toomey (R-Pa.), Mark Warner (D-Va.), Lamar Alexander (R-Tenn.), Brian Schatz (D-Hawaii), Ron Johnson (R-Wis.), Chris Van Hollen (D-Md.), Mike Lee (R-Utah), Jeff Flake (R-Ariz.), Ben Sasse (R-Neb.) and Johnny Isakson (R-Ga.) are supporting the bill.

"There is no real national security threat that these tariffs are a response to. They are an effort to impose a protectionist policy for economic purposes," Toomey said in a floor speech blasting the administration's decisions.

 

The bill would require Trump to submit tariffs implemented under Section 232 of the trade law for approval to Congress. Any approval legislation would then be fast-tracked through both chambers.

Senators are introducing the legislation despite receiving pushback from Trump, who earlier on Wednesday privately urged Corker not to file his bill.

 

Is McConnell gonna let it come up for a vote?

[PaladinSolo]

Markets rallied after he announced his massive deal, today?  

 

 

Dow dropped 800 points...

[osxmatt]

4th largest point loss in market history.

 

10/20 largest point losses have been in 2018.

[Jason]

Quote

The economic agreement President Trump said he reached with Chinese leader Xi Jinping on Saturday showed signs of unraveling Tuesday, with the White House threatening new penalties against Beijing and multiple officials seeking to downplay expectations for an eventual deal.

https://www.washingtonpost.com/business/economy/i-am-a-tariff-man-trump-says-as-china-talks-show-signs-of-sputtering/2018/12/04/516425e4-f7e0-11e8-8c9a-860ce2a8148f_story.html

 

In order for a deal to have unraveled, doesn't there have to have been a deal in the first place?

[Commissar SFLUFAN]

The market's reaction over the last couple of days has been nothing short of asinine.  It should have put no "stock" (pun fully intended) in the Imbecile's initial tweets and only has itself -- NOT the Imbecile! -- for today's bloodbath.

[Commissar SFLUFAN]

25 minutes ago, osxmatt said:

4th largest point loss in market history.

 

10/20 largest point losses have been in 2018.

Doesn't even crack the Top 20 in terms of % losses.

[Amazatron]

I always get annoyed with the headlines using points to describe how the market is doing (or using the shitty DOW index), only thing that matters is percentages.  Same annoyance when people use share price to argue whether a stock is "cheap" or "expensive".

[b_m_b_m_b_m]

1 hour ago, SFLUFAN said:

The market's reaction over the last couple of days has been nothing short of asinine.  It should have put no "stock" (pun fully intended) in the Imbecile's initial tweets and only has itself -- NOT the Imbecile! -- for today's bloodbath.

The only explanation is the market is largely filled with conservatives who for some reason don't think the president is a liar unless proven correct.

[Ricofoley]

2 hours ago, SFLUFAN said:

The market's reaction over the last couple of days has been nothing short of asinine.  It should have put no "stock" (pun fully intended) in the Imbecile's initial tweets and only has itself -- NOT the Imbecile! -- for today's bloodbath.

Seriously, though. Between this stuff and Tesla stock jumping on Elon Musk's "I'm taking the company private at 420" tweet that I assumed was a pot joke from the moment it happened, it kinda seems like a lot of the people (or algorithms?) that trade in big enough volumes to move the markets are kinda just dumb?

[Amazatron]

No, they are not dumb.  Volatility is great for making money when you are in control of the markets.

[osxmatt]

2 hours ago, SFLUFAN said:

Doesn't even crack the Top 20 in terms of % losses.

 

I agree percentage is a much better indicator.

 

Fun talking point though.

[Jason]

 

[Jason]

 

[Greatoneshere]

16 hours ago, b_m_b_m_b_m said:

The only explanation is the market is largely filled with conservatives who for some reason don't think the president is a liar unless proven correct.

 

DING DING DING

 

This is how much businessmen and the market haven't really cared about or been paying attention to Trump. Now they know if they listen to him, they'll be fucking themselves (hopefully they've learned this lesson now). Perhaps now some will slowly, gradually turn against him. 

[Jason]

 

[Chairslinger]

On 12/4/2018 at 7:24 PM, Jason said:

 

 

 

I like how he basically tried to be all action movie one liner, but he is so fickle he can't even get through a Tweet without contradicting himself....

 

"It's either now or never.....or eventually."

[Jason]

1 minute ago, Chairslinger said:

 

 

I like how he basically tried to be all action movie one liner, but he is so fickle he can't even get through a Tweet without contradicting himself....

 

"It's either now or never.....or eventually."

 

Maybe Whitaker was hired for his time travel expertise.