Links: China tariffs, Italy, monetary offset and midterm turnout

Links on the Chinese reaction to tariffs, economic problems in Italy, the dangers of monetary offset for shares, and the importance of voter turnout for the midterm US elections.

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I used to do a daily links post that gave you a feel for the kind of news flow I was seeing. But the last time I did a links post was 2014. Over the past several years, I have gradually switched to Twitter for that. But I want to bring the links post back to Credit Writedowns since I am more fully invested in writing here.

I only have four links today. But here goes. In the coming weeks, expect me to beef up these posts. Cheers, Edward.

China holds fire on imposing US soyabeans tariffs – The trade war that Trump has started by imposing tariffs won’t necessarily damage trade. It all depends on the retaliatory action. Here, we can see the Chinese have shown restraint. Likely that’s because exports are important for Chinese growth.

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Financial markets fail to reflect the eurozone time-bomb in Italy – This is a Wolfgang Munchau post. His argument is that the economic problems in Italy will still be in place during the next recession in Europe. And Europe will be ill-prepared to handle these problems. Furthermore, because Italy is so large, it can’t be bullied like Greece.

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Stock market ‘on a collision course for disaster’-Guggenheim CIO – The view expressed here is basically that Trump’s fiscal stimulus will precipitate a monetary offset. I think we are already seeing that with Powell. But the Guggenheim CIO believes this will be negative for shares and eventually cause a recession.

Why the Stormy Daniels interview should scare Republicans – CNN – There are two things to the Stormy Daniels interview. One is campaign finance laws. The second is the political repercussions. This post suggests the Stormy Daniels affair will mobilize anti-Trump sentiment for Democrats. And so turnout will be a big issue for the midterm elections.

P.S. – There’s one thing I forgot. I used to add a link or two after the post went out, if I saw something I thought was really important to mention. I might do that here. But I just might save the links for tomorrow.

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