RE: trumpy and oil1 Jul 2018 00:44
haha hope he spares a thought for you mate. But I don't think putting tariffs on foreign oil is in the US best interest. Last time I read, the US was now a net exporter... so that would harm US oil companies. As there's no trade deficit in oil it wouldn't be worth his while.
The way I see it (and it's only an opinion)... The US debt is astronomical, it's growing far faster than GDP and I don't just mean government debt. All debt combined it's about $70 Trillion. Sooner or later that is going to cause the mother of all downturns... it'll probably make the 1930's look like a prosperous time.
He could do nothing about that like the previous presidents did, or he could try to at least stop the trade deficit with other countries. He's got an ego, so he won't like the market going down either though, so if they take a significant hit, he'll probably say something on Twitter and up it goes again.
The market will only go on a sustained downtrend if the tariffs filter through to actual negative growth data in the various economic measures.