RE: GLEN29 Jan 2025 19:47
The US is arguably overvalued. And if not, it deserves the VIX index. The Fed are doing a good job and jobs figures and housing are good, as are auto sales. The US is almost isolationist to be honest, but cannot decouple from China which produces many of its goods. Trump blusters about tariffs but he will shoot himself in the foot. My BA and MA in Economics taught me that tariffs fuel inflation. Self-defeating, as interest rates will then stay high and business and jobs suffer( as Reeves economics here has shown). Hard to know with China. Cheap slave labour feeds the world with goods. And you can’t trust what they publish. Deepseak was a political attack upon Trump’s tariff ambition. Touché! I can’t really see how a company like Glen can suffer massively regardless of tariffs though as the US is only one market. China has more of an effect as it needs what Glen mines, particularly copper. The coal is for steel and to date profitable.
It may be a massive kneejerk over steel and copper tariffs and China slowdown that is driving this plummet. But it is rather severe, and the market seems to know something.