I thought Michael Pettis was correct, but turns out that China can effectively undermine Trump by playing to the Achilles heel of the USA, which is its lurch towards Marxism even amongst moderates! Shocking details below.
China expert Michael Pettis also posited that China was in a disadvantageous position in a trade war with Trump (yet also c.f. his more nuanced blog), but apparently not! We forgot to realize China can target the USA’s Achilles heel which is the burgeoning tendency towards Marxism (i.e. “steal from rich”) even amongst the former moderates. America is dying— long live the Socialist Republic of Amerika! This is shocking...
The gap has widened to 12 percentage points, up from 7 in July — and largely because of voters in the Midwest. They have swung 13 points in Democrats' direction since July. That Midwestern shift is consistent with what Marist has found in statewide polls conducted for NBC in Michigan, Wisconsin and Minnesota that showed Trump's support there starting erode.
“Every way we are looking at the data, the same general pattern is emerging,” said Lee Miringoff, director of the Marist Institute for Public Opinion, which conducted the poll. “The Midwest is an area that is getting restless about what they hoped was going to occur and what they feel is not occurring.”
Trump has waged trade wars with several countries, aiming to renegotiate deals and has instituted tariffs on imports that have been met with retaliatory tariffs on exports. Many of those have taken a toll on Midwestern farmers, for example. And some automakers have come out against Trump's moves on car imports, hitting Trump with some tough headlines.
“It’s not that Democrats are going to carry rural America,” Miringoff stressed, “but [Republicans are] not performing the way the president needs them to.”
Martin Armstrong blogged:
While we now have people chanting to impeach Trump under the 25th Amendment, we also have a true Treasonous Constitutional Crisis of UNELECTED bureaucrats working to undermine an ELECTED official by the people. Regardless of the issue in play, which they refuse to describe as in the OP_ED, this is a major Constitutional Crisis that is brewing and it is all being orchestrated for the upcoming November elections. The whisper’s Behind the Curtain are actually loud and clear. The Democrats BELIEVE that Alexandria Ocasio-Cortez was elected because the bulk of the have-nots want more socialism and for government to increase taxes dramatically on the “rich” and corporations and hand it to them. Sort of like hiring a thug to rob your neighbor’s house because they have a nicer TV.
Once again, they seem to be scared to death that the truth about the US interference in the Russian 2000 election [c.f. the
bitcointalk.orglink at the linked post for the huge cover-up] is what resulted in Yeltsin turning to Putin.
So the main objective here is to defeat the Republicans and for the Democrats to take back the Hill in November and reverse the tax cuts. Talk Behind the Curtain is to raise taxes back to 75% to get closer to where they were before Reagan.
Also the manipulation of Russia goes way back to the $7 billion IMF bribe of Yeltsin which is actually what brought Putin to power (c.f. also). Actually these powers-that-be (including the Bush family conglomerate, e.g. Prescott Bush’s Union Bank) have been manipulating Russia since the time of Bolsheviks. They’re provoking Putin into direct confrontation with the U.S. military. And that has dire implications for the potential for nuclear war because the U.S. military can no longer fight a conventional war against both Russia and China.
Also it is 100% certain and irrefutable that 9/11 was a controlled demolition ostensibly designed to bring the USA into a Middle East proxy war and launch the war on cash and freedom. The war in the Middle East is not really about oil nor pipelines. It is really about the power behind the curtain that goes back to that Russian manipulation point above.
“We have found nothing to show collusion between President Trump & Russia, absolutely zero, but every day we get more documentation showing collusion between the FBI & DOJ, the Hillary campaign, foreign spies & Russians, incredible.” @SaraCarterDC @LouDobbs
P.S. Interesting that Michael Pettis’ most recent blog considers for China’s re-balancing an alternative to wealth transfer from the entrenched elite to the masses. Instead China could in theory increase consumer debt, i.e. debt for consumption not for speculation on investments. But that seems impossible since the Chinese save as a Confucian value. You would be asking them to change their culture. I think most definitely China will instead boost public sector investment in social welfare to re-distribute wealth and in effect increase consumption. That is the most politically palatable way forward.
Armstrong also blogged:
What you are looking at be it politics or markets, the way in which we respond to each event is the same. People act like herds of animals and we move instinctively according to everything and everyone around us.
A friend of mine in Britain told his wife and children not to discuss BREXIT with anyone because of this same sort of hatred that was emerging calling them racists.
From a purely technical perspective VOID of political affiliation, emotion or hatred, Trump is what we classify as a FALSE MOVE. He is the calm before the storm. He has tried to reverse the course of the nation lowering taxes and trying hard negotiations on trade to restore the manufacturing jobs to Americans. What I mean by saying he is the CALM BEFORE the storm will invoke hate mail from those you hate him. But look at this chart. The market will ALWAYS make a correction in the opposite direction of the major trend before the big move. This is the standard human behavior. Trump in this context is a correction within the decline and fall of Western society, but he will not reverse the trend.
My clients do not want my OPINION, but what does the computer show. Plain and simple. Trump is just the correction and the trend will resume to our political disintegration.
And as to those who ask if I would ever consider the job, my answer remains NO WAY!!!!!! They would assassinate me anyway before my hand hit the book. The best I can hope for is to contribute after the crash and burn.
That false move on second chart above looks very similar to the false move down that Bitcoin made in the summer of 2013 and again in July 2018, before blasting off to new ATHs!
And remember that Bitcoin was the only non-North American asset that made its final low just before July 12, unlike the rest of the world (and precious metals) which continued to decline:
Those who think Bitcoin is not following a monetary (reserve asset) adoption pattern should note the uncanny pattern in the Bitcoin chart which matches the adoption pattern of gold after Nixon ended the Bretton Woods accord:
Additionally the following chart supports the probability of Bitcoin making its final retest of the $5900 – $6100 support level in September or October:
I commented on Quora:
Although I agree with your frustration and the apparently unfair bias of the situation, my overarching thought (which you will not understand) is that when all corporations are forced to become democracies then America becomes the Socialist Republic of Amerika.
When we reach the point that no one can fire anyone or make any decision for their own company (sort of like how it is in France), then we will be well on our way to modeling the USSR and towards the third world future that is coming to the West because of this slide into decadence. Unfortunately Millennials don’t seem to understand (and that is normal because I didn’t understand also in my 20s) that life and nature is never fair. Any attempt at egalitarianism will always end up a massive economic disaster.
I do understand you’re a young person trying to make your life. And I am by no means against you competing to have the best life you can. And so my comments might seem negative or depressing. But facts are facts. Ignore them at your peril.
I would like to help the Millennials but they can’t seem to understand that fairness will obliterate the West.
The decadence is so bad that Intel has lost the fab process technology lead to Asia.
U.S.A. (and probably all Western countries) are heading into political crises no later than 2024. This desire for fairness will turn the West into a political Frankenstein.
Also there’s something else I would like to say about a female and a manager’s manager, but I can’t say it because Quora will censor my comment if pose that possibility here. I am not insinuating that subconscious hypergamy (i.e. shit testing the lower manager to determine if he’s beta and unsuitable for mating) was in play in your case (you wouldn’t likely know it if it was) but I am just insinuating that can be a factor and we would need to hear all sides of the story from all parties involved.
I replied on Quora:
Claire J. Vannette commented:
Well, I guess you showed him some self-advocacy by going over his head. :)
I wrote an answer on Quora about the DEEP STATE corruption in the USA:
Not intending to be antagonistic nor admonish, but frankly your question is nonsensical because it is based on lies and an entirely duped American public.
If Americans knew the truth about the entire Russian background story and the DEEP STATE’s role going back their use of a $7 billion bribe to entrap Yeltsin which then forced Yeltsin to turn to Putin, they would not be so incredibly duped as they are now. At the Helsinki meeting with Trump, Putin mentions that corruption deep within the USA and offers to give Mueller complete access to Russia if Mueller will give Putin complete access to interview those who were involved in the above stated attempted coup of Russia by the DEEP STATE who run the USA from behind the curtain.
Of course this will never happen and the American public will never know the truth. You can find the details at the above linked post and more specifically this one. And no I am not paid nor complicit with any Russians nor anyone. I am just a lone man who is gravely concerned about the lack of fact checking done by my fellow Americans at this critical juncture in history.