Per the article ...
1. Fed tightening
Under Trump, the Federal Reserve is trying to end a decade-long party. Massive programs of money-printing and low-to-zero-interest rate lending were implemented to keep markets moving after the 2008 disaster.
Terms like "unlimited liquidity" began to catch on to describe the level of central bank support the financial world could expect in the post-crash universe.
2. Trump's tax cuts depend on monster growth
When Republicans rammed through the administration's tax-cut package, more than a few analysts warned that the cuts were based on too-rosy projections of economic growth.
Groups like the Tax Policy Center warned, "Trump's tax cuts would drive new activity at first, but ... the impact would be blunted in later years by rising deficits, forcing more federal borrowing."
3. Trump's tariffs
Here's how dumb Donald Trump is. First, he announces a massive unnecessary tax cut that can only be paid for by unsustainably high growth.
Almost immediately, he has to increase national borrowing to pay for it.
The traditional Treasury note supply goes up right away, but even that's not enough to pay the nut. In fact, this week -- October 16th, to be exact -- the government is going to debut a brand-new two-month Treasury bill, through which it hopes to raise $30-$35 billion immediately.
So we're going to have to sell more and more Treasury notes. On whom do we depend most of all to buy those notes?
That's right: China, which holds about $1.2 trillion in Treasury notes and about $1.5 trillion in U.S. debt overall.