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I have degrees in mathematics, science, and education from the University of Toronto. My son is a PhD candidate in computer science at Oxford University.

By combining my 40-years of market experience with my son's youthful computer science knowledge, we produce a uniquely ... more

The tariffs won't happen.

Date: Thursday, August 1, 2019 8:35 PM EST

The tariffs on $300B of Chinese goods --actually, on US consumers and businesses--will never happen.  The political money backing the Senators, who are allowing Trump to stay in power (by avoiding impeachment), will not allow it.  It would hurt their businesses, and that is not allowed; tax-cuts are dandy, but making a whole host of items, that are not easily sourced from elsewhere, more expensive, would be disastrous, like  tariffs on Mexico would have been disastrous. They simply cannot be implemented. Before the month is up, Trump will claim some sort of trade victory (significant of not) and the tariffs will be dropped.

Gold was on its way to breaking below 1400 and the SPX was on a tear higher before the Tweet. Soon, both markets will continue on the path they were on before 1 p.m.this afternoon.

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