To:         Larry Kudlow

From:    Investor Class

Date:      April 11

Re:          U.S.-China Trade Dispute

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We appreciate your positive disposition but time to get real with the markets.   Don’t
lose your credibility.

Also, the Administration’s fear of losing the stock market puts the U.S. at a negotiating disadvantage.  China is playing an uncooperative game with asymmetric information.