Gary Cohn: U.S. is desperate for a China trade agreement

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Gary Cohn: U.S. is desperate for a China trade agreement
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Published on Mar 14, 2019
Trish Regan and former Trump Deputy National Security Adviser K.T. McFarland on the growing tensions between the U.S. and Iran.

FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is the leading business network on television, topping CNBC in Business Day viewers for the second consecutive year. The network is available in more than 80 million homes in all markets across the United States. Owned by FOX, FBN has bureaus in Chicago, Los Angeles, Washington, D.C. and London.

Subscribe to Fox Business! economic collapse that is on our doorstep, because the economic numbers are really starting to deteriorate very rapidly now.  On Tuesday we got some more new numbers, and they were just as bad as we thought they might be.  But even before today’s numbers all of the data were telling us the exact same thing: economic collapse is coming. 

The world has never seen anything like this ever before, and one of the central themes of Epic Economist youtube channel is that these bad economic numbers will destroy our society with a horrible stock market crash and financial collapse:

The New York Fed’s Empire State manufacturing index just suffered the worst one month decline in U.S. history, Morgan Stanley’s Business Conditions Index just suffered the largest one month decline that we have ever seen, global trade numbers are the worst they have been since the last financial collapse, and just last week I detailed the complete and utter “bloodbath” that we are witnessing in the U.S. trucking industry right now.  So considering what we already knew, it shouldn’t have been a surprise that new home sales in the U.S. were down a whopping 7.8 percent during the month of May: The Commerce Department said Tuesday that new homes sold at a seasonally adjusted annual rate of 626,000 in May, down from 679,000 in April. During the first five months of the year, purchases of new homes have fallen 3.7% compared to the same period in 2018. Those are absolutely horrible numbers, and this is precisely what an economic crisis looks like.

On Tuesday we also learned that U.S. consumer confidence is rapidly declining. Once again, this is precisely what we would expect to see during a recession.

In the fiscal fourth quarter, which ended May 31, FedEx reported a loss of $1.97 billion, compared with profit of $1.13 billion a year earlier. FedEx blamed this horrible number on the ongoing global economic slowdown, and unfortunately things are not likely to get any better for them any time soon.

Many in the mainstream media continue to speak of “the next economic collapse” as some future event, but when we get the final economic numbers many months from now we may discover that it had already started by now.  In fact, one prominent economist recently stated that he believes that “we’re probably already in a recession”

Meanwhile, the global trade war continues to intensify, and over 300 companies are literally begging the Trump administration to find a way to end it. Sadly, it isn’t likely that the trade war will end any time soon.
In fact, it is probably much more likely that a shooting war will start in the Middle East instead.  And if that happens, economic collapse will dramatically escalate.

America is headed for a day of reckoning, and author Michael Snyder is sounding the alarm.  His novel about the future of America entitled "The Beginning Of The End" and his best-selling book about the end times entitled "The Rapture Verdict" are both available on Amazon.com.

Michael Snyder's author page: Bill Gates discusses the trade dispute between the United States and China.Kai-Fu Lee, chairman and CEO of Sinovation Ventures and former president of Google China, discusses China's ambitions in tech with Bloomberg's David Westin on "Bloomberg Markets: Balance of Power."Former Australian Prime Minister Kevin Rudd joins "Closing Bell" to discuss Gary Cohn's comments on the podcast 'Freakonomics' in which he says the U.S. is desperate for a trade agreement.

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