Donald Trump, Adam, David Malpass discussed on Financial Exchange with Barry Armstrong
The big stories in the market Adam thanks for coming on Berry thanks for having me and by the way welcome. Back, from vacation mind starts Lucky, you I. Got I got mine and now it's time for you. To get yours I guess so it's what's talk a, little bit about WalMart, here we, were talking about him a little bit earlier today but for a company this size this is. About as good of, an earnings report is, you can get it seems like Now my best failed a year and a half percent and there's so much that we, could talk about. Here from brick and mortar is not dead to, air pivot. Court groceries and buying jet dot com for deliveries I. Mean all that was very good but I think the, single most important takeaway, from the, report guy is the fact that it more evident tax cut are percolating through the economy You know we cut people's taxes they have more to the average American data five percent raise and WalMart were they shop More, than anybody else so much more than Amazon in America shop so when you see. WalMart rise the most in ten years that direct relation or direct. Reflection of tax cuts at the wonderful wonderful door Adam so that's one of the big stories that's moving things upward today the other one. Is the news that China in, the US are going to. Be, resuming trade negotiations prior to the end of the month so within the next two weeks we're going to have that I, I'm somewhat skeptical on these just because I feel. Like we've, we've seen the store. Before and have an ad progress made but, I'm curious what your thoughts. Are on it Yeah This is hitting quite, deserves but Really Hear what the headline from, the you, know you look in the mirror, time, negotiations, resume, dot dot, dot really low. Level it's not actually a low. Level. Okay because it's not the Treasury Secretary for the, commerce secretary. Himself people interpreted the low level it David. Malpass David Malpass is the under secretary of the. Treasury I actually know David Malpass very well I, sat down. With him a number of time and he's. The former economist from Euboea extremely thoughtful and here's. The key is very very close like They talk every clothes who Larry cudlow who is. President Trump economic advisor in the. White House these quote committed Trump himself I don't think people realize the fact that David Malpass is leading spearheading. Meet negotiation is important as it. Is I think that he Kudlow and Trump are going to. Have all their talking points in line and and effectively now pack is the Trump messenger it's not a low level thing is a back door thing I think the goal is to try. To figure out how to a help the Chinese space. And make it, look like. Trump got a victory and. That has to happen behind the scenes they need to make it a at those low. Level but trust me it's not it's a really, big deal Adam are the Chinese incentive to get. Something done soon as in before, the midterm elections Oh my gosh, yeah there. Is a school of thought. That says if they wait until the midterm election Trump Mike it weekend if he loses Right The way the generic ballot is starting to move in your favor and all of a sudden now they've played double jeopardy. Law the fact is the Chinese stock market has fallen twenty five. Percent they have a real problem in China right. Now they're having to lead the Bank with liquidity to try to make up for the fact that failed abroad are struggling to keep. Up it's also one of the reasons why the Chinese wanted, ball so, precipitously the Chinese at admit that they need a, deal but they really. Do Adam are as a country in the United, States I assume is the biggest customer of the Chinese France doesn't by more than. US Britain doesn't by more than. Us we are China's biggest company. Customer we not, well if you look at the EU as a, whole it's pretty close and depending upon how you wanna that you might actually say you lately larger, customer but that's a combination of countries that, that's you, know there's, countries but, yeah as far as a single. Country, oh. Yeah no, one, no No, one. Else even, come Has been with Trump point They need us. More than we. Need them I'm not sure, I necessarily agree, with that but you. Know I, get my portfolio I mean I'm long Alibaba at apple On John Deere and, co you, know I think actually we're going to get a very positive announcement on Mexico and they're gonna use basket four candidates at the. Table, also we've.