Yellen: Trump Lacks Basic Economic Understanding; Chinese Trade Envoy Laughs in His Face

[goldenequity]

Trump Lacks Basic Economic Understanding Says Yellen, Days After Chinese Trade Envoy Laughs in His Face
https://www.haaretz.com/us-news/trump-lacks-basic-economic-understanding-says-yellen-1.6975548

https://images.haarets.co.il/image/upload/w_1149,h_669,x_2,y_0,c_crop,g_north_west/w_857,h_482,q_auto,c_fill,f_auto/fl_any_format.preserve_transparency.progressive:no ne/v1551184033/1.6975637.959990305.JPG

Trump met with top Chinese trade officials on Friday in the Oval Office in an exchange which went viral after Chinese vice premier Liu He laughed out loud as Trump sparred with his top trade negotiator Robert Lighthizer.

"I don’t like MOUs (memorandums of understanding) because they don’t mean anything," Trump said during the exchange, "To me, they don’t mean anything."

Lighthizer tried to clarify, "An MOU is a contract, it's the way trade agreements are generally viewed... an MOU is a binding agreement between two people. It's detailed. It covers everything in great detail. It's a legal term. It's a contract."

"By the way, I disagree," Trump quickly shot back, to which Liu burst out laughing.

https://media.giphy.com/media/mpfMDb6MB6EWQ/giphy.gif

[goldenequity]

Donald Trump clashes with his own trade chief in front of Chinese delegation
https://www.theguardian.com/global/video/2019/feb/25/donald-trump-clashes-with-his-own-trade-chief-in-front-of-chinese-delegation-video

[goldenequity]

https://www.youtube.com/watch?v=X0ROLHtpxL0

[specsaregood]

Trump is right, they don't really mean anything.

[goldenequity]

just yer basic blowback for literally threatening almost every economy and trade exchange policy around the globe...

Germans trust China more than US two years into Trump’s presidency, survey finds
https://www.independent.co.uk/news/world/americas/germany-us-relations-china-trump-nato-europe-atlantic-bridge-a8796371.html


nuthin to see here... move along.

[goldenequity]

Trump is right, they don't really mean anything.

HA.. neither do the one's we sign in blood.
anyways... not exactly a GOOD idea to argue the point with your own representative in front of the principal and cameras... r u kiddn me???

[specsaregood]

HA.. neither do the one's we sign in blood.
anyways... not exactly a GOOD idea to argue the point with your own representative in front of the principal and cameras... r u kiddn me???

Not if you are calling it out as meaningless for a reason. What did he want instead of an MOU?

[goldenequity]

First truck completes Europe-China delivery in just 12 days
https://www.euractiv.com/section/transport/news/first-truck-completes-europe-china-delivery-in-12-days/

https://www.euractiv.com/wp-content/uploads/sites/2/2019/02/47174975651_b85b6c31cb_k-800x450.jpg

[Superfluous Man]

Lighthizer tried to clarify, "An MOU is a contract, it's the way trade agreements are generally viewed... an MOU is a binding agreement between two people. It's detailed. It covers everything in great detail. It's a legal term. It's a contract."

I'm not a lawyer, or anyone who has ever had to use a memorandum of understanding. But is this true? It's not what I thought. So why did Lighthizer say this?

[goldenequity]

Not if you are calling it out as meaningless for a reason. What did he want instead of an MOU?

Understand this:
1. Lighthizer and Navarro have been pressing Trump NOT to cut a 'modest' agreement (they want a TOUGHER policy)
so
an MoU is exactly what Lighthizer WANTS (at this stage.)
Lighthizer is an extremely skilled and shrewd negotiator.
Trump BLEW it cuz
E
G
O

[Superfluous Man]

To me a much more basic problem for all parties involved in that meeting that I'd like to see argued about publicly at that level, is the whole idea that the POTUS has the authority to sign such a contract as a trade agreement with a foreign regime at all.

A binding contract? Just whom are they binding. The American people aren't signing it. And neither is anyone to whom they have delegated the authority to sign one of these on their behalf.

[goldenequity]

the 'other' half of the article concerns his misconceptions of the fed


https://youtu.be/d_B39d4onnE