President Trump’s tweeting fingers may need medical attention after the holidays. His impeachment and the upcoming impeachment trial is his worst nightmare. The president thinks he can tweet his way out of impeachment by trash-talking Nancy Pelosi and the Democrats.
Mr. Trump knows he has to keep his army of spineless senators on board his sinking impeachment ship. But that mission shows signs of wear and tear. Alaska’s Senator Lisa Murkowski told the press she uncomfortable with Mitch McConnell’s decision to work closely with Trump’s lawyer so the trial goes the way Trump wants.
The phase one trade deal is still up in the air even though Mr. Trump claims president Xi plans to sign the agreement in January. Wall Street economists question China’s ability to buy $40 billion worth of farm products due to the commitments Chinese importers have with Brazilian and Argentinian farmers. Chinese importers place soybean orders with Brazil for delivery in 2020. In 2019, China bought more soybeans from Brazil than they bought from U.S. farmers.
The Chinese didn’t confirm they would spend $40 billion on American farm products. According to China’s foreign minister, Chinese lawyers and translators continue to work on the agreement. The foreign minister told the press China won’t announce the terms of the agreement until the deal becomes a real deal.
Wall Street economists think the Federal Reserve’s decision to keep cash flowing into the repo market is not a good sign. And the fact the Fed continues to buy treasury notes every month doesn’t support Jerome Powell and President Trump’s claim the U.S. economy is in good shape. Several hedge fund investors think the bottom will fall out of the stock market by April 2020, and GDP product growth will slip below two percent. Mr. Trump knows his reelection depends on good economic numbers, so he continues to rave about low unemployment and inflation while other economic factors continue to deteriorate.
The Wall Street Journal helped Trump keep the pressure on Huawei, China’s tech giant. The Journal reported the Chinese government gave Huawei $75 billion in aid, but Huawei immediately tore into the conservative-leaning publication. Huawei officials claim the report is a Trump smackdown delivered in a different way.
The Wall Street Journal report claims the Chinese government gave Huawei $46 billion in loans and lines of credit, and $25 billion in tax breaks, as well as a $2 billion land purchase discount, and $1.6 billion in grants.
