mauldineconomics.com / BY JOHN MAULDIN / JULY 19, 2017
Consequential and Contentious
What Would Steel Tariffs Really Mean?
Buy American
Tit for Tat
Grand Lake Stream, Colorado (?), and Lisbon
“We’re already in a trade war with China. The problem is we’ve not been fighting back.”
– Peter Navarro
“The battle for Helm’s Deep is over. The battle for Middle Earth is about to begin.”
– Gandalf the White
This letter should find you buckled in for the turbulence I described last week. If not, I hope this one convinces you. The storm is seven days closer now. There are times when normality slips out of reach, and I believe we are approaching such a time.
I have lived through recessions and bear markets; I know what they look like. I wish I could forget what they feel like. They don’t come out of nowhere; there are always warning signs. Many investors choose to ignore those signs; I choose not to. I hope you make the same choice.
The monster can come from different directions. Imagine the horror movie where the doomed victim knows the creature is out there. He hears its growls and desperately looks all around for their source. Then the camera pans left and you see the darned thing sneaking up on him from behind. [Cut, add scream, fade to black.]
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