"Current events have revealed that Ayn Rand’s novel Atlas Shrugged is not just fiction, but almost a prophesy. Elizabeth Warren’s Accountable Capitalism Act and the cronyism of Trump’s tariff policies are straight out of Rand’s novel. It won’t end well..."
"The U.S. is trying to conclude the trade disputes swiftly, but China is prepared for a protracted war... China has time to fight to the end. Time will prove that the US eventually makes a fool of itself."
The market continues to gingerly ignore the accelerating currency devaluation in China, where the yuan is headed for a record eight weeks of declines. Italian bond yields spike ahead of an important meeting and payrolls are on deck.