### Comment:
Good point. I assume you are long then?  
 What are your opinions on failed trade talks as a catalyst? It seems like the market has been strung along on dwindling promises of a potential deal.

### REPLY:
Isn’t that important. Most of the market volatility and uncertainty was from the fed.  
  
 Bubbles bursting are almost always based on debt. The biggest risk is interest rate hikes. And theirs only one place I see debt burdens high enough to cause a recession. And that’s student debt. Corporates not great rn but without any rate hikes it can b a gentle deleveraging without and damage on a macro level

### END.