A report out today cites a Chinese boycott of Apple iPhones. The same thing can happen to Musk if Trump rides the crazy tariff train to US corporate destruction in China.

The question becomes, is 10 percent the saturation number for online sales?

Interesting comment. Also, 10 year yields appear to be in a range, Prof.

Tariff related hashtags on twitter are starting to ramp up. Trade is center stage. The US has already lost the steel wars. So what if China opens markets? American goods will be overpriced anyway. iPhones are inferior to Huawei and Samsung phones and are already overpriced. China has the power to destroy Apple, and the price for iPhones if they were made in the USA would be ludicrous. China could shut down Apple in China. Remember, it is only the cult of the iPhone, not quality, that keeps iPhone sales up.

Interesting! Of course, Mises would say deflation is no big deal. But where credit is applied or taken away, deflation can be a very big deal.

Interesting. Assuming something physical to the planet does not happen before that, cashlessness could happen. It would not occur without serious pain to those who need cash, imo. As far as trans border currencies, so many do not trust the Euro now. As to NGDP targeting, will this mean that business cycles will be eliminated and investors in the real economy will continue to invest as business cycles last longer? What if business does not trust the permanence of the business cycle and pulls back on investment, fearing a crash? How will business be convinced to invest without a recession to bring cost of materials down? This could impact housing and factories and retail. In housing, prices have ballooned in the past 5 years in Las Vegas. But commodities have not generally skyrocketed. What would be the mechanism to bring house prices back to earth when investors not investing in housing actually drives prices up as fewer houses are built. Only demand decline. And that could freeze the housing market.

Bernanke failed to see a housing bubble. The Fed seems blind to the obvious. But the Fed does have a plan. It prematurely squelches wage appreciation, usually too soon. It has historically liquidated speculation with a vengeance once that speculation passes beyond froth. The problem I have is that other central banks help smaller businesses with credit availability after the liquidation. The Fed leaves the smaller businesses to fend for themselves and makes it really hard for mainstreet..

Nothing warms my heart more than Trump supporters having their hearts and companies ripped apart by the great con artist himself.

FDR put people to work in a bad situation. As Jeffrey Snider said today, monetarism does not always work, especially the sterilized variety. It just distorts the wealth divide.

Kyle Bass was right. Helicopter money is the only way out. This sterilized stimulus is no stimulus at all.