Monday, August 19, 2019

Crackermobile Market Crashing?

Maggie Fitzgerald / CNBC:
Here's what new tariffs will cost the average American household  — J.P. Morgan estimates the average American household will be down $1,000 per year thanks to the newest round of tariffs on Chinese goods.  — The firm’s chief U.S. equity strategist Dubravko Lakos-Bujas says unlike the agriculture sector, which is receiving subsidies from the government to offset some of the tariffs, “there is no simple way to compensate consumer.” — Given the larger impact on the wallet of the U.S. consumer going in the 2020 election, Lakos-Bujas says the administration will likely roll back tariffs or compromise on a trade agreement.
Oliver Willis / Shareblue Media:   Kellyanne Conway says ‘Trump economy’ is great as 74% of economists warn of recession
Shayndi Raice / Wall Street Journal:
An Economic Warning Sign: RV Shipments Are Slipping  —  Some manufacturers in Elkhart, Ind., cut production as tariffs drive up costs of components  —  Elkhart, Ind., is flashing a warning sign about the economy.  —  Capital of the country's recreational-vehicle industry …
Kevin Drum / Mother Jones:   RV Sales Are Down  —  I guess we should all be prepared …
Peter Weber / The Week:   As signs of a looming recession mount, Trump is pre-emptively blaming the Fed, the media, other countries

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