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July 18, 2018 | Facing a Global Trade War, Wall Street Amps Up Bravado

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, an online service geared to traders of stocks, options, index futures and commodities. His detailed trading strategies have appeared since the early 1990s in Black Box Forecasts, a newsletter he founded that originally was geared to professional option traders. Barron’s once labeled him an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case. He received a $200,000 reward when a conviction resulted, and the story was retold on TV’s FBI: The Untold Story. His professional background includes 12 years as a market maker in the pits of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader.

Who could have imagined just a couple of months ago that stocks would continue to ascend with a full-blown trade war brewing? Most of us thought Trump was just playing poker, but if that is the case the pot has grown big enough to become scary. We all have some skin in the game, and not just because we buy little stuff from China that comes in packages from Amazon. The 25% levy on imported cars, for instance, will raise their average price by a reported $5800. That might be good news for American manufacturers who assemble cars from parts and materials made in the USA, but this is just a minuscule part of the market.  Many in the car business seem to doubt Trump will actually go through with it, but if he does implement a 25% tariff it’s going to cause serious dislocations in the U.S. economy, with unforeseeable repercussions.

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July 18th, 2018

Posted In: Rick's Picks

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