Jonas Max Ferris: ‘Nobody Wants To Be the Country that Isn’t Working with China’

Neil All right Warren ░░░░░░░░ no one has made ░░░░░░░░ investing than Warren Buffett ░░░░░░░░ human history it s ░░░░░░░░ simple fact so his ░░░░░░░░ weighing in on developments ░░░░░░░░ the world they re ░░░░░░░░ and watching Liz Claman ░░░░░░░░ out in Omaha and ░░░░░░░░ lot more from her ░░░░░░░░ up and a lot ░░░░░░░░ from Warren Buffett coming ░░░░░░░░ and his thoughts on ░░░░░░░░ world and these Chinese ░░░░░░░░ back and forth which ░░░░░░░░ to imply that it ░░░░░░░░ not a war in ░░░░░░░░ eyes but skirmishes can ░░░░░░░░ out of control and ░░░░░░░░ max ferris knows about ░░░░░░░░ and kind of worries ░░░░░░░░ it and he s ░░░░░░░░ saying maybe cooler heads ░░░░░░░░ but our economic avenger ░░░░░░░░ team came back and ░░░░░░░░ didn t have anything ░░░░░░░░ came back empty handed ░░░░░░░░ do you think It ░░░░░░░░ like an agree to ░░░░░░░░ agree meeting which at ░░░░░░░░ point is good It ░░░░░░░░ have gotten worse and ░░░░░░░░ s not solved the ░░░░░░░░ aren t going to ░░░░░░░░ make a 200 billion ░░░░░░░░ deaf nit just disappear ░░░░░░░░ If they disagree they ░░░░░░░░ t want to set ░░░░░░░░ arbitrary number to pair ░░░░░░░░ surplus right No and ░░░░░░░░ really can t I ░░░░░░░░ what would ideally they ░░░░░░░░ stop doing certain things ░░░░░░░░ that in itself would ░░░░░░░░ the problem go away ░░░░░░░░ can t really target ░░░░░░░░ gap and you know ░░░░░░░░ they would have to ░░░░░░░░ more stuff and I ░░░░░░░░ t know if that ░░░░░░░░ going to happen Our ░░░░░░░░ expensive relative Neil But ░░░░░░░░ about the president s ░░░░░░░░ is then remove the ░░░░░░░░ you put on our ░░░░░░░░ that come into your ░░░░░░░░ or whatever We charge ░░░░░░░░ 5 the president says ░░░░░░░░ an extra 20 Just ░░░░░░░░ that that would be ░░░░░░░░ big difference They definitely ░░░░░░░░ away It s not ░░░░░░░░ this is a base ░░░░░░░░ argument They did pick ░░░░░░░░ one country where Trump ░░░░░░░░ kind of a strange ░░░░░░░░ on trade that goes ░░░░░░░░ to Japan and it ░░░░░░░░ right with China Neil ░░░░░░░░ let me think he ░░░░░░░░ brought that to light ░░░░░░░░ you thinks tariffs the ░░░░░░░░ they do kind of ░░░░░░░░ Governments have let them ░░░░░░░░ away with it in ░░░░░░░░ same way that like ░░░░░░░░ companies have There s ░░░░░░░░ place that could get ░░░░░░░░ with telling a tech ░░░░░░░░ no you have to ░░░░░░░░ this and give us ░░░░░░░░ other than China because ░░░░░░░░ wants in on China ░░░░░░░░ governments are the same ░░░░░░░░ They want the cheap ░░░░░░░░ The companies here neat ░░░░░░░░ cheap materials we want ░░░░░░░░ so we let them ░░░░░░░░ away and they have ░░░░░░░░ power than they should ░░░░░░░░ everyone s hooked on ░░░░░░░░ for lack of a ░░░░░░░░ word so Trump in ░░░░░░░░ ways is the only ░░░░░░░░ that s willing to ░░░░░░░░ them on because most ░░░░░░░░ companies Neil By the ░░░░░░░░ he s secretly egged ░░░░░░░░ by European countries that ░░░░░░░░ of agree but don ░░░░░░░░ want to step out ░░░░░░░░ and be publicly saying ░░░░░░░░ Right nobody wants to ░░░░░░░░ almost need to have ░░░░░░░░ an OPEC to counter ░░░░░░░░ because c Neil Well ░░░░░░░░ s going to happen ░░░░░░░░ could just stay bluster ░░░░░░░░ talk for years and ░░░░░░░░ could definitely turn Neil ░░░░░░░░ longer it goes on ░░░░░░░░ more those tariffs pileup ░░░░░░░░ It only has minimal ░░░░░░░░ to certain areas farming ░░░░░░░░ metals markets mostly It ░░░░░░░░ t gotten to where ░░░░░░░░ s wholesale tariffs and ░░░░░░░░ could do that Neil ░░░░░░░░ haven t the Chinese ░░░░░░░░ buying American soybeans already ░░░░░░░░ but they don t ░░░░░░░░ that much stuff That ░░░░░░░░ one of the reasons ░░░░░░░░ this isn t such ░░░░░░░░ threat That said there ░░░░░░░░ not a 40 tariff ░░░░░░░░ iPhones yet either there ░░░░░░░░ so it could go ░░░░░░░░ no question about it ░░░░░░░░ they re trying to ░░░░░░░░ tough They don t ░░░░░░░░ to just buckle quickly ░░░░░░░░ it would look like ░░░░░░░░ could get away with ░░░░░░░░ and negotiate anything so ░░░░░░░░ try to play it ░░░░░░░░ and use their power ░░░░░░░░ in us wanting to ░░░░░░░░ stuff from them and ░░░░░░░░ that We haven t ░░░░░░░░ gotten into some of ░░░░░░░░ other things they get ░░░░░░░░ with there s environmental ░░░░░░░░ he was supposed to ░░░░░░░░ made there not just ░░░░░░░░ it s cheaper because ░░░░░░░░ re skirting rules that ░░░░░░░░ here whether it s ░░░░░░░░ we have all these ░░░░░░░░ to do business here ░░░░░░░░ But are you surprised ░░░░░░░░ know they said we ░░░░░░░░ t expect anything but ░░░░░░░░ ve sent our avengers ░░░░░░░░ these are our all ░░░░░░░░ top economic guys led ░░░░░░░░ mnuchin and everyone else ░░░░░░░░ guess he is sort ░░░░░░░░ like a captain America ░░░░░░░░ nothing They come back ░░░░░░░░ nothing We don t ░░░░░░░░ what they re going ░░░░░░░░ do because they didn ░░░░░░░░ get anything we may ░░░░░░░░ a more tariffs in ░░░░░░░░ few days I will ░░░░░░░░ the stronger our economy ░░░░░░░░ the better position we ░░░░░░░░ into start trouble with ░░░░░░░░ because it s going ░░░░░░░░ be look it s ░░░░░░░░ good for the economy ░░░░░░░░ start to have a ░░░░░░░░ war but if you ░░░░░░░░ in a very strong ░░░░░░░░ you can handle trouble ░░░░░░░░ China If we were ░░░░░░░░ a weak economy a ░░░░░░░░ years ago you can ░░░░░░░░ start a problem they ░░░░░░░░ in a more powerful ░░░░░░░░ right now inflation is ░░░░░░░░ under control the economy ░░░░░░░░ strong you can be ░░░░░░░░ with this country so ░░░░░░░░ if it s going ░░░░░░░░ happen it would probably ░░░░░░░░ this year where we ░░░░░░░░ have hopefully a short ░░░░░░░░ trade war but it ░░░░░░░░ spiral out of control ░░░░░░░░ then we have elections ░░░░░░░░ up so maybe nobody ░░░░░░░░ to do anything until ░░░░░░░░ Neil You re our ░░░░░░░░ which one They asked ░░░░░░░░ to go I was ░░░░░░░░ Neil I ve got ░░░░░░░░ be here on your ░░░░░░░░ Neil Thank you very ░░░░░░░░ my friend