Some data from Bloomberg might be suggestive as to who persuaded Trump to back off on tariffs? (also very unscientific evidence for the merits of diversified investments!)
The tariff suspension decision was wholly consistent with the behaviour I predicted in my February Deep Dive. Personally, I think we are nowhere near out of the woods on this topic and the next actions of the Chinese will be interesting, Actions that may well be focused more on supply chain strangulation, especially of minerals,
It is also important to remember that tariffs are only one aspect of ‘The Madness of Nero’ (or his current incarnation). Even the winning of specially set up golf tournaments by the modern Caesar variant matches the well-attended (by order of the musician) lyre concerts starring the ‘talented in his own eyes’ Nero!
Expect more unpredictability, demonstrations of callous insensitivity, economic vandalism and a permanent degrading of the role of the USA in global affairs.
Investment markets will, as ever, come through it all largely intact but perhaps reshaped and with new and different opportunities. The plutocrats will make sure of that. Maybe we should be grateful?
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