Durable goods orders, earnings, container board, oil chart, German exports, infrastructure, GDP forecasts

by WARREN MOSLER

More of same as trade war takes its toll globally:

Headline Durable Goods New Orders Declined in April 2019. Inflation Adjusted New Orders Are In Contraction

Trump to Democrats: No infrastructure without trade deal

On the eve of a highly anticipated meeting with Democrats at which President Donald Trump was expected to unveil a way to fund a $2 trillion infrastructure proposal, Trump instead put Congress on notice that it will have to take a backseat to a trade deal.

“Before we get to infrastructure, it is my strong view that Congress should first pass the important and popular USMCA trade deal,” Trump wrote in a letter to House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer Tuesday evening.

At an impromptu press conference late Thursday afternoon during a photo-op with farmers, Trump lit into Pelosi, who earlier in the day said that the president had committed “impeachable offenses” and was in need of “an intervention” by family and friends. The president lashed out at the speaker, calling her a “mess.”

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