Tuesday, April 3, 2018

What Is Anti-Trade Adviser Peter Navarro Telling the President About the Crashing Stock Market?



President Trump's anti-trade adviser Peter Navarro appeared on CNBC yesterday.

In an interview with CNBC"s "Closing Bell," Navarro said Trump's "singular focus is on economic growth, rising wages and a strong manufacturing and defense industrial base."

"If we hit all points … the market will go up."

The Dow Jones industrial average closed down 459 points on Monday partly on fears of a trade war.

"Everybody needs to relax and kind of look the chess board here. This economy is just strong," he said. "I'm thinking the smart money is certainly going to buy on the dips here because the economy is as strong as an ox."

As far as the new tariffs imposed by China, Navarro said China was "basically throwing another punch" at the U.S.

"Are we supposed to not defend ourselves and then when we defend ourselves are we supposed to take another punch from them?" he added. "The Chinese side needs to think very carefully about how they respond because the American people are not going to stand for that kind of response.

We can assume that Navarro is telling Trump the same thing behind closed doors: "Don't worry Mr. President, we are playing chess here. It's what happens in the long run that counts and in the long run we will beat the Chinese." What a mercantilist, nationalist nut job, who just happens to now be in charge of the mental IV that Trump is getting daily.

-Robert Wenzel 

(via CNBC)

5 comments:

  1. "If we hit all points … the market will go up."

    That's some weasel language right there ... the excuse for failure is built right in.
    Further, I'd also bet that he's being really generous with the "we" - he's going to blame everyone other than himself for not "hitting all points".

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    1. Not only that, but it's infantile to argue that prosperity of the US population should be measured by stock price inflation.

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  2. I love how he criticizes China for doing the exact same thing the Trump administration is doing. I guess trade restrictions are only good when it’s the US that’s imposing them. This is every bit as hypocritical as attacking Iran for having a nuclear program.

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    1. Evan, we're the "exceptional" nation.

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  3. "They steal our stuff"? Escalating . . . .

    His economic commentary sounded an awful lot like this analyst. https://m.youtube.com/watch?t=58s&v=YgGvd1UPZ88

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