FAST FIVE: "Slipping Into Madness": The Comparisons To The 1920s And 1930s Are Just Uncanny

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Again, the West is cash-strapped and less confident in itself and its economic vitality, war-weary, and unwilling to physically fight against more aggressive forces.

Let us fight to free the world, to do away with national barriers, to do away with greed, with hate and intolerance.

Let us fight for a world of reason, a world where science and progress will lead to all men's happiness.

In short, not only are US-China trade talks going badly–so badly they are going to end early–but the political mood is now moving towards a broad-spectrum confrontation over economic power and the political values it can then (great) dictate – again not a surprise to us given our long-standing argument that this was never about trade per se.

That the Fed can be cutting rates and doing NOT-QE4 and the USD still be holding up is a real signal there.

Categories: ZH