It looks like Trump’s tariffs have not been well received. China did the predictable thing and retaliated immediately. Europe and Canada will as well. And, Trump says he will never change his mind as he bashed the Fed Chair and claimed irrationally that the good jobs report reflected the success of destroying trillions of dollars of value in the market. Even for him, this is quite an achievement.

But, fear not faithful readers. As we know, any promise made by Trump is illusory and when he abrogates his word he attacks those who remind him of what he said.

In all likelihood, we will have inflation and a recession at the same time.  According to Mr. Trump, I’m sure if that occurs, it will not be his fault.

Meanwhile, he and his enablers are behaving as if they are in the movie, “The Wizard of Oz,” screaming, “ignore the man behind the curtain.”  Despite this clown show, let’s hope we can somehow get Dorothy and Toto home safely.