When he said this in a recent interview, he also blurted out "a few month ago people thought we wouldn't make it"
Trump is obviously projecting but he's a simple creature and you can learn a lot about what he project, in this case it looks like the US debt crisis behind the scenes is a lot worse than they're admitting to, Trump at some point really did feel like they might not make it.
Also the fact that he called going "Cold Turkey", which by definition means someone who's suffering, means he knows perfectly what's going on, lol
That is absolutely true after that silliness with the Liberation Day tariffs.
My impression was a financial crisis was about erupt, I thought it was that close. Then again I am just a shitposter, and once Trump reversed himself, then things were fine. Touch the hot stove once, they will not do that again.
Then a few weeks later, was watching this video, and that Mohamed El-Erain guy (someone who should know because he is an insider), said the same thing.
Expect it was worst.
He said that the bond market did stop functioning in those days, in the week after Liberation Day. It was that close.
The Americans had no choice. They had to stop the silliness otherwise another worldwide recession with a financial panic. Only China probably will not be going into recession.
That was how it got to the edge, like it was over the edge basically at that point, and only a complete reversal can save it.
At the 8:50 mark of the video.
So, trying to take on China again, for another round, is not in the cards. Because it is TACO time.
Also, that is why people are not going camping, even though us Chinese love the great outdoors.
Any move that is too radical, will invite another crisis, an event that the Americans cannot handle. If they see Jensen Huang being taken away, there will be a flood to the exits. 40% of the NYSE is owned by foreigners. The bond market has a lot foreign participation.
The problem with Team Trump 1.0 and Team Trump 2.0 is the same. Lack of basic knowledge of how things work.
That Bessent guy knows, but he has a blind spot when it comes to China, so he will be easily outmaneuvered.
Instead of pack camping supplies, maybe start prepping, if things get worst, lol.
