Economic Council Director Kevin Hassett just announced that over 50 countries have already reached out to begin negotiations following President Trump's new tariff policies.
"I got a report from the USDR last night that more than 50 countries have reached out to the President to begin a negotiation.
But they're doing that because they understand that they bear a lot of the tariff."
That's 50 out of about 185 countries. So about one-third of the countries are already moving in a positive manner, within 48 hours of the imposition of Tariffs. This seems, on its face, to be a GOOD thing.
No word yet about all the other countries except for China, which has already announced it is imposing more Tariffs on the US, and Canada, whose new Prime Minister actually said on television "If the US doesn't want to lead the world anymore, then Canada will." Most nations laughed quietly at the utter absurdity of his remarks.
Tonight, we will all get to see how tomorrow's stock market opening is likely to go. Futures begin trading here in New York at 6:00 PM eastern time tonight. That will be a giant heads-up about what tomorrow is likely to bring.
Calm reflection - or panicked selling? We just have to wait and see.
When margin calls are issued, they can create a vicious feedback loop as selling stocks to meet the Margin Call can push prices down more.
Many now fear a repeat of the devastating 'Black Monday' from October 19, 1987, when the Dow Jones Industrial Average plummeted by 22.6 percent, the largest one-day percentage drop in history. If Monday is a Bloodbath like Friday, then I believe that the house of cards that is the Global Economy will be officially crumbling.
Friday night, I reported these Margin Calls and suggested to readers they go to the bank on Saturday and get cash. Not to pay bills, but to survive. If everything goes haywire, credit and debit cards may be shut Post too long. Click here to view the full text.
