Trickle by vvvracer h/t Flickr
“American workers are struggling in large part because they are underpaid—and they are underpaid because 40 years of trickle-down policies have rigged the economy in favor of wealthy people like me. Americans are more highly educated than ever before, but despite that, and despite nearly record-low unemployment, most American workers—at all levels of educational attainment—have seen little if any wage growth since 2000.”
— Nick Hanauer
“Everything about recessions are easy to predict except the timing, location, duration, magnitude, and policy response.”
— Morgan Housel, @morganhousel
“Negative interest rates are the primary warning signal of a pending financial calamity. The trend in that direction began with Trump’s election. His response today was to expand the trade war to add more burdens on Mexico.”
— Frederick Feldkamp
“Every day the bucket goes to the well
But one day the bottom will drop out
Yes, one day the bottom will drop out,…”
— Bob Marley, I Shot the Sheriff
h/t Getty Images
“When I was poor and complained about inequality they said I was bitter; now that I’m rich and complain about inequality they say I’m a hypocrite. I’m beginning to think they just don’t want to talk about inequality.”
— Russell Brand
Chaos, h/t thenewstack.io
“Our soul is a vast panorama. There is room for so much in us at the same time: Love and treachery, faith and faithlessness, adoration of one person and longing for another, or for several others. We try to bring order into ourselves as best we can, but this order is, after all, something artificial. Our natural state is chaos.”
— Arthur Schnitzler
This quote can be descriptive of economic data and markets. Grasping their chaotic nature can help in wading through information overflow to get to the heart of the matter.
Enjoy the rest of your weekend!
“Most economists, like doctors, are reluctant to make predictions, and those who make them are seldom accurate. The economy, like the human body, is a highly complex system whose workings are not thoroughly understood.”
— Alice Rivlin, 1931-2019
“Once again, why sell soybeans to China when instead we could borrow from China to pay soybean farms to NOT sell soybeans to China.”
— Catherine Rampell, @crampell
“Neither trade wars nor Fed wars are good and easy to win.”
— Catherine Rampell
“It is easier to induce national governments to discriminate against foreign producers than to defend the interests of domestic consumers.”
— George W. Stocking
As the market opens, it’s another trade tension Trump tariff Tuesday.
In the end, tariffs are a tax on US consumers.
Taco Tuesday tastes better.