{"id":318049,"date":"2019-08-05T16:05:00","date_gmt":"2019-08-05T20:05:00","guid":{"rendered":"https:\/\/admin.rushlimbaugh.com\/?p=318049"},"modified":"2019-08-06T15:56:26","modified_gmt":"2019-08-06T19:56:26","slug":"chicoms-strike-back-in-trade-war-spook-markets","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2019\/08\/05\/chicoms-strike-back-in-trade-war-spook-markets\/","title":{"rendered":"ChiComs Amp Up Trade War, Spook Markets"},"content":{"rendered":"

RUSH:\u00a0 While you\u2019re not looking, the ChiComs have really amped up the trade war.\u00a0 They have devalued their currency.\u00a0 That has stock market eager beavers just spooked to all get out, and they have put a screeching halt on agriculture imports.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: This ChiCom trade war news is worth you knowing in the midst of all the societal rot that\u2019s happening in America. The ChiComs have responded to Trump\u2019s threat to increase tariffs with another escalation of the trade war today. They have devalued their currency. They haven\u2019t taken it to the level it\u2019s at in 10 years and this is something Trump has been on their case about since he was campaigning and that is the devaluation of their currency and how that leads to a tremendous imbalance of trade.<\/p>\n

\"\"<\/p>\n

And the ChiComs are sitting there saying, “Look, you can huff and puff at us all you want, but we hold the cards here, and so watch us.” And they have just put a stop on agricultural imports, American agricultural imports. And they have lowered the yuan, the currency, in responding to Trump\u2019s tariff threat. The yuan was at its weakest level in more than a decade. And the ChiComs asked state owned companies to suspend — they didn\u2019t ask anybody. They demanded. The ChiComs don\u2019t ask anybody. They asked state owned companies \u2013 (laughing) How do you ask a state owned company? State owned is the ChiComs own it. Not asking anybody. The ChiComs are suspending imports of U.S. agricultural products.<\/p>\n

Now, this is a MarketWatch story. It says the moves antagonize Trump, who used Twitter to accuse the ChiComs of currency manipulation, which will greatly weaken China over time. He\u2019s repeatedly criticized Beijing for not keeping promises to buy more U.S. crops, and this is what\u2019s caused the stock market volatility today. It\u2019s down 716 points at the moment on the Dow.<\/p>\n

And, you know, you talk about the repeating cycle of things, every news story today about the stock market plunging 700 points is no different than the last time it plunged 300 or 500. And the basic theme is, “Okay. That\u2019s it. The runup is over. It\u2019s time to get out, folks. It\u2019s time to get into gold. It\u2019s time to get into real estate. The smart money is cashing out of stocks.”<\/p>\n

It never fails. I think they just copy and paste this stuff. And they create panic among people that call their broker or call their asset management firm, “Oh, my God. The media says…” And the asset managers, the smart ones, say, \u201cRide it out. How many times have we been through this in your life, ride it out. Where\u2019s the market net high in all these years? It scored a record recently, right?\u201d If you\u2019re old and you need the money out soon, that\u2019s a different thing, but just the cyclical nature of this.<\/p>\n

You know, Holman Jenkins of the Wall Street Journal had a column over the weekend<\/a> on how hapless the Mueller investigation was because it did not investigate the veracity of the Steele dossier, that nobody did, that everybody just accepted it and ran with it, and then he focuses on the media. He says the media really has some questions to ask.<\/p>\n

Now, he maintains that the media does what it does not because they are biased, which I disagree with profoundly, but rather than paraphrase it, let me find and actually read his — here it is. This is what he says. ” News consumers might marvel that so many journalists at least are so devoted to their partisan allegiances, but devotion has nothing to do with it. It\u2019s just dumb conformism and lack of imagination. As in any field, one learns not to be surprised that so many unprepossessing persons are in positions of authority.\u201d<\/p>\n

His point here is that it\u2019s not really bias that makes the media left. It\u2019s that they\u2019re all conformists. And they are conforming with what their buddies are. They\u2019re conforming with what the people they admire are. Now, I think there is some of that. He says it\u2019s lazy conformism, that they\u2019re basically a bunch of hapless, lazy conformists and this is why they don\u2019t know anything. That it\u2019s not so much an ongoing, conscious bias as it is lazy conformism.<\/p>\n

\"\"<\/p>\n

Now, as I say I think there\u2019s truth to that to a certain degree, but I don\u2019t agree that there isn\u2019t any bias, and I don\u2019t agree that there isn\u2019t any leftist ideology. The leftist ideology is the foundation. The conformism is to that. But I do get what he means when he talks about lazy conformism \u2019cause these stock market stories are nothing but repeats, lazy conformism.<\/p>\n

Lazy in the sense that every stock market decline is treated identically. “It\u2019s the end. You\u2019re gonna die. You\u2019re gonna go broke. You better get out.” Accompanied by stories of the uber-wealthy selling stocks and buying gold or buying real estate, making you think you\u2019re gonna be left out.<\/p>\n

Now, if it was unique, that\u2019s one thing. But it\u2019s the story every time there\u2019s a market plunge. And then you add to it there is the ever-present fatalism, apocalyptic tone, disaster is right around the corner, which, as I addressed so adroitly on Friday<\/a>, sells. And yet I don\u2019t engage in it. But everybody in the media, a lot of people do. Because they think it works. And that\u2019s what we\u2019re seeing now.<\/p>\n

We\u2019re seeing the apocalypse, we\u2019re seeing it\u2019s over with, Trump\u2019s gotta stop it, this or that, America\u2019s finished. And I think it\u2019s wearing people out. I really do.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: By the way, the ChiCom government is mobilizing right now on the border with Hong Kong. The people of Hong Kong may be on the verge of having a totally new definition of freedom visited upon them, and I don\u2019t know how many people in Hong Kong have guns, but this could be a good illustration of why it\u2019s not wise to have the only guns in distribution in control of the state.<\/p>\n

But ChiComs loaded for bear here. I guess they\u2019re willing to have their people starve. They have lowered their currency, devalued it, and this in response to the Trump additional tariff threat. And they\u2019ve also threatened to stop importing all American agricultural products. So they\u2019re content to let their people starve. Where they gonna go? We feed the world. Where they gonna go? This is what happens when you don\u2019t really care about your people except from the standpoint of making sure they work and produce what they\u2019re supposed to each and every day.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: This ChiCom trade war news is worth you knowing in the midst of all the societal rot that's happening in America. <\/p>\n","protected":false},"author":49,"featured_media":309069,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[12,1],"tags":[],"yoast_head":"\nChiComs Amp Up Trade War, Spook Markets - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2019\/08\/05\/chicoms-strike-back-in-trade-war-spook-markets\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"ChiComs Amp Up Trade War, Spook Markets - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: This ChiCom trade war news is worth you knowing in the midst of all the societal rot that's happening in America.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/05\/APP-051319-China-Trade-War.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"George Prayias\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\",\"url\":\"https:\/\/admin.rushlimbaugh.com\/\",\"name\":\"The Rush Limbaugh Show\",\"description\":\"Excellence In Broadcasting\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/admin.rushlimbaugh.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2019\/08\/05\/chicoms-strike-back-in-trade-war-spook-markets\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/05\/APP-051319-China-Trade-War.jpg\",\"contentUrl\":\"https:\/\/www.rushlimbaugh.com\/wp-content\/uploads\/2019\/05\/APP-051319-China-Trade-War.jpg\",\"width\":640,\"height\":360},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2019\/08\/05\/chicoms-strike-back-in-trade-war-spook-markets\/#webpage\",\"url\":\"https:\/\/www.rushlimbaugh.com\/daily\/2019\/08\/05\/chicoms-strike-back-in-trade-war-spook-markets\/\",\"name\":\"ChiComs Amp Up Trade War, Spook Markets - 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