Kim Jon Un let Japan’s President Abe know he’s an idiot and an imbecilic for confusing a ballistic missile with the missiles Kim firing his way. The North Korean leader let Trump’s golfing buddy Abe know he’s coming for him if the Trumpster doesn’t close the sanction and real estate deal they have on the table.
Mr. Kim told Trump he has to stop making him look stupid by saying he wants a meeting, but never follows through. Kim told the press the president has until the end of the year to drop some sanctions. Kim wants to punish Japan and South Korea if Trump doesn’t set up another meeting this year. South Korea just signed a security agreement with China in case Trump decides to bring the more than 26,000 troops camped on the border, home. Trump wants South Korea to pay the cost of keeping U.S. military on the border. The U.S. pays most of those military incurred costs.
China’s economy has Trump’s tariff flu, but the manufacturing sector of the economy had a good November. The Chinese know their huge manufacturing sector is in serious trouble. The government plans to step up the stimulus package they designed to attract more foreign buyers. Vietnam, Thailand, Cambodia, and other Asian countries took a large slice of China’s business when the trade war hurt American importers.
Consumer debt is through the roof in the U.S. as well as in China. Consumer debt in China is 99 percent of GDP growth. U.S. consumer debt is not that bad, but Jay Powell and the Feds know another rate cut would sink consumers deeper in debt.
China’s GDP growth is the weakest it’s been in 30 years. But growth in China is still much stronger than U.S. growth. Mr. Trump claims Powell is the reason economic growth in the U.S. is not twice as good as it is. But according to economists, Trump’s tariffs and sanctions did a number on the global economy in 2019, and they think 2020 could be another 2008-meltdown-type year.
But as long as consumers keep spending, the U.S. economy will continue to grow. But not as fast unless Trump’s adds the December tariffs to the trade debacle. Holiday Internet sales made a lot of economists happy. Shoppers spent $4.2 billion online on Thanksgiving. And Black Friday Internet sales were more than $7.4 billion.