The Psychic Observer

The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.

Who?

We have the absolute dumbest people in charge right now

Supporting trump is not dangerous?

I know. GDP growth is forecast to be negative and we have a good chance of a recession.

All I know is they have tanked the economy.

There is a medication for autism? Is it an instantant cure?

Licknut said this morning that the electronics exemption from Friday night is just temporary now and there will be a new round of tariffs for these products in another month or two. Then says that he's confident that a deal will be made before that They have no idea what they are doing.

What is the meaning of the word instantant?

I remember those finger traps. Good times. Hopefully trump keeps caving on these tariffs. He's very weak.

Trump continues to defy the courts. Constitutional crisis.

Can you share the evidence of this? I believe you are lying.

You had 4 years to talk about Biden. He's gone. Trump is president now.

Where do you live?

So he wasn't serious about manufacturing these products after all. He wasn't serious about raising money to pay off the debt. It's becoming increasingly obvious as he now starts to cut deals that this is a personal game to him, enjoying people coming to him asking for deals so he can gain favor. That or he has no idea what he's doing

The University of Michigan consumer survey's mid-month reading on sentiment fell to 50.8, down from 57.0 in March and below the Dow Jones consensus estimate for 54.6. Respondents' expectation for inflation a year from now leaped to 6.7%, the highest level since November 1981 and up from 5% in March.

One thing that Trump et al ignore when it comes to trade is services. When America changed from being a manufacturing economy we became a services economy. America exports a trillion dollars in services each year for a $280B surplus. This 1950s romanticism that Trump has about manufacturing is strange. The fact that he has conned young men to think that working in a factory all day is manly is even more strange. The US has the world's largest GDP. It's comical to think that we're being "ripped off" and that trade deficits are inherently bad. They can be bad on a case by case basis but the trump approach is juvenile and asinine.

The irony is the tariffs have eroded trust in the US and the dollar as the world's reserve currency positioning China in a more powerful place than ever.

Tariffs have driven up bond rates. That means mortgage rates go back over 7% now. Auto rates up. This is not good for growth.

Freedom of speech. There is antisemitic speech here. Should Cdub be sent to CECOT?

It's not.

Do you have a wealth manager or you do everything with Charles Schwab?

I think he's trying to say that you can't have a mutually beneficial trade relationship if you have a trade deficit which is an infantile argument.

Are you still flush with cash or have you invested it all this week?

Trading $5 for $2 does sound bad. Is that what we've all been doing? I've never done that. Maybe just stop doing that.