Trend Macro Chief Investment Officer Donald Luskin on the economic factors that lead to young people having a sense of entitlement and the state of the markets.

Prior to Mr. Xi’s agreement this morning to meet with Mr. Trump next week, the always interesting Donald Luskin of Trend Macrolytics had predicted that Beijing would come back to the table because of a “game changer” in the negotiations. According to Mr. Luskin, a separate Trump negotiation recently put Mr. Xi on notice that China was not going to win a tariff battle with the United States. In a Friday video, Mr. Luskin observed: