by Bill Bonner
Acting Man
Too Late for Trump?
BALTIMORE – We checked. We checked again. Nothing. Despite our recent open letter to him, the person not sending us an email was Donald J. Trump. But let’s check with the markets before we return to politics.
[…] While the world’s attention is fixed on Mr. Trump, Mr. Market is playing it cool. U.S. stocks have barely budged for months. Yet the ground beneath the stock market’s feet is giving way. Corporate earnings are down 15% over the last two years.
And China – which economists told us was the “engine of growth” for the global economy – continues to dig itself into a debt hole as its order book goes blank. Meanwhile, U.S. home buyers are mortgaging themselves up again – just like they did in 2007. And the average ratio of rent to income is also back at pre-crash levels.