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I Know An Old Lady Who Swallowed A Fly

David R. Kotok
Thu Jul 26, 2018

I know an old lady who swallowed a fly.
I don’t know why she swallowed a fly.
Perhaps she’ll die.

I know an old lady who swallowed a spider.
It wiggled and jiggled and tickled inside her.
She swallowed the spider to catch the fly.
I don’t know why she swallowed the fly.
Perhaps...

The official version of this children’s favorite rhyme was copyrighted by Rose Bonne in 1952. (Wikipedia)

Market-Commentary-Cumberland-Advisors-Trade

Let’s see. The Wall Street Journal warns against the Navarro-led Trump trade war, and Peter Navarro uses Fox and Maria Bartiromo to promise and explain why the WSJ is wrong and there will be no retaliation and no cost (see http://video.foxbusiness.com/v/5743778657001/?- sp=show-clips), and the opening tariffs on steel and aluminum are launched by Trump and defended now by Navarro and Mnuchin and Hassett and Kudlow and Ross as we ratchet up and up, and now the Trump team proposes expanding the deficit by more federal borrowing in order to raise cash to give to farmers who have been hurt by the retaliation that Navarro said wouldn’t happen, and the Trump team blames the Chinese and others for the need to borrow, and all this is done under Section 232 in the interest of our nation’s security as permitted in a law that Congress could amend or repeal, while Republicans in the Senate now denounce this latest scheme and the Trump team warns the Fed that it will be their fault if the economy falters.

“I know an old lady who swallowed a fly...”