Today's Agenda  Trump Voters Are in for More Economic Anxiety A relatively unsung factor behind President Donald Trump's election in 2016 — beyond James Comey, Russian meddling and Hillary Clinton forgetting Wisconsin — was a near-recession that few noticed at the time. It might have tipped key swing states in Trump's favor. The bad news for Trump in 2020 is that those same states — Michigan, Pennsylvania and the aforementioned Wisconsin — are once again under the economic weather, notes Karl Smith. In fact, in some ways, they're in worse shape than in 2015:  Ugly factory data yesterday raised recession fears and triggered a two-day swoon in stock prices, which Trump has blamed on the Federal Reserve and Democrats talking about impeaching him. But the economy's biggest threat is the trade hostilities Trump himself launched more than a year ago, hobbling the global economy. In fact, argues Conor Sen, the Fed's recent rate cuts seem to have bolstered the housing market, which could soften the pain of trade. That may be enough to avoid a full-on recession; whether it will help re-elect Trump is a different question. Trade Wars: A New Hope An end to the trade wars is still just a hazy hope, which suffered a setback today when the World Trade Organization gave Trump the go-ahead to impose tariffs on Europe in retaliation for government support for Airbus SE. The administration is reportedly wasting no time doing just that. But Trump should resist the temptation to go through with it, warns Bloomberg's editorial board. It would lead to more retaliation and make an already bad situation for global trade even worse. Restraint is in order, which may sound like a tall order for this administration. But it showed a bit of that by giving Apple Inc. a few exemptions on China tariffs. Still, the exemption process appears arbitrary, writes Tim Culpan, and designed more to hand out PR wins than to actually help American manufacturing. One smart thing the president could do would be to mend relations with Europe to form a united front against China. Maybe then he could even persuade Europe and Japan to funnel some of the mountains of spare capital they have lying around into developing-world infrastructure projects, suggests Mihir Sharma. That would counter China's Belt and Road Initiative while making sure new projects are sustainable and fair. One can hope. Further Trade-War Reading: Boris Johnson May Not Be Serious About Avoiding a No-Deal Brexit Just 29 days from the U.K.'s Brexit deadline, Boris Johnson has finally made the EU an offer for a new deal. But the offer seems unacceptable to the EU, writes Lionel Laurent. In fact, it seems designed only to get shot down so the prime minister can blame Europe for a disastrous no-deal Brexit. He may not even get that outcome, seeing as Parliament has ruled a no-deal Brexit illegal and all. In that case, all he'll manage to do is annoy the EU and bolster his standing with Brexiters. But maybe that's all he wants, to rally Tories in the next election. That election will pit Conservatives against Labour, led by Jeremy Corbyn, who is not terribly well-loved. But his supposedly extreme left-wing policies are quite popular, writes Matthew Goodwin. Brits are apparently tired of austerity and the nonexistent benefits of Brexit. Trump Takes a Bad Refugee Situation and Makes It Worse Last week, Trump's State Department proposed capping the number of refugees admitted to the U.S. this fiscal year at 18,000. This would break the previous record low, set last year at 30,000. And it would be far below the 100,000 or so we regularly admitted in the early 1990s.  Contrary to Trump's assertions, refugees are a net benefit to America, writes Bloomberg's editorial board, and for decades we have managed to take them in at much higher rates. Like Trump's border wall, with or without snakes or laser beams, this will do nothing to make America great or solve Trump's self-made crisis at the border. Telltale Charts Investors rewarded Johnson & Johnson for settling an opioid lawsuit, but they'll keep punishing pharma until it strikes a broad settlement, writes Max Nisen.  Further Reading Private equity's just like your kids: It loves water parks. – Tara Lachapelle Trump throws "treason" accusations around much too easily. There's a reason the founders defined it in the Constitution, and narrowly at that. – Cass Sunstein Volodymyr Zelenskiy is being called a traitor for considering a peace deal with Russia; he may have no choice. – Leonid Bershidsky Letting central banks have their own digital currency is a bad idea that will undermine traditional banking. – Tyler Cowen IPOs are generally bad deals for companies, but direct listings aren't much better. Dutch auctions are. – Joe Nocera Winning at health care may be a bigger challenge for Best Buy Co. Inc. than surviving Amazon. – Sarah Halzack and Max Nisen Eating beef may actually not be as bad for the climate as flying in planes. – Justin Fox We still need diversity-based college admissions, the Harvard case shows. – Noah Feldman ICYMI Secretary of State Mike Pompeo was on Trump's call with Zelenskiy. Bernie Sanders stops campaigning and gets stents after suffering chest pains. Cars sure are expensive these days. Kickers Fat Bear Madness — catch it! (h/t James Greiff) New Banksy shop appears overnight in London. (h/t Scott Kominers) Researchers find the tallest known tree in the Amazon. What it's like to become an overnight millionaire. Note: Please send cars and complaints to Mark Gongloff at mgongloff1@bloomberg.net. New to Bloomberg Opinion Today? Sign up here and follow us on Twitter and Facebook. | 
⋮↠〖*HDvideo~〗 2020 Spycies: Dos espías rebeldes Película Completa En Línea released 2020. story: Vladimir y Hector, dos agentes secretos d...
Post a Comment