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Edward Harrison — Trump’s working class sellout, tactical nuclear weapons, government shutdown, tax reform and immigration

Summary:
Since Donald Trump became US president, his core economic agenda has been sidetracked repeatedly by so-called cultural issues. However, now the administration is stepping up its tax reform effort. Even so, other issues threaten to derail this agenda item too (like nuclear war on the Korean Peninsula!). Of course, it’s not even clear we’re talking about tax reform here. Much more likely, Trump has sold out and is now merely pushing for tax cuts for the wealthy. Nevertheless, the risk to the economy of failure is not that big. And the risks of a government shutdown have receded due to Hurricane Harvey. Now, the real risk is a military confrontation in Korea. Thoughts below…. Credit Writedowns Trump’s working class sellout, tactical nuclear weapons, government shutdown, tax reform and

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Since Donald Trump became US president, his core economic agenda has been sidetracked repeatedly by so-called cultural issues. However, now the administration is stepping up its tax reform effort. Even so, other issues threaten to derail this agenda item too (like nuclear war on the Korean Peninsula!). Of course, it’s not even clear we’re talking about tax reform here. Much more likely, Trump has sold out and is now merely pushing for tax cuts for the wealthy.
Nevertheless, the risk to the economy of failure is not that big. And the risks of a government shutdown have receded due to Hurricane Harvey. Now, the real risk is a military confrontation in Korea. Thoughts below….
Credit Writedowns
Trump’s working class sellout, tactical nuclear weapons, government shutdown, tax reform and immigration
Edward Harrison
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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