Unintended consequences
I get that Trump is too stupid to understand that his tariffs (a) will be paid by American consumers, (b) will drive inflation and (c) will prevent future Fed rate cuts.
But there are other negative consequences:
“While Wall Street frets about potential volatility from President Trump’s April 2 “Liberation Day” plans, another part of America is also bracing for more possible chaos: US ports.
“If the president next week imposes sweeping new duties on America’s top trading partners, that could place a significant new burden on ports of entry from coast to coast, which act as conduits for a wide variety of goods critical to the global economy.”
The 1% doesn’t care about “Liberation Day,” but they’ll care about recession caused by predictably stupid Trump policies.
Trump’s tariffs burden ports of entry
But there are other negative consequences:
“While Wall Street frets about potential volatility from President Trump’s April 2 “Liberation Day” plans, another part of America is also bracing for more possible chaos: US ports.
“If the president next week imposes sweeping new duties on America’s top trading partners, that could place a significant new burden on ports of entry from coast to coast, which act as conduits for a wide variety of goods critical to the global economy.”
The 1% doesn’t care about “Liberation Day,” but they’ll care about recession caused by predictably stupid Trump policies.
Trump’s tariffs burden ports of entry
I was wondering about that especially with auto parts. I recall that they were going to lower or eliminate the consumer directly purchasing from China de minimus standard and then backed off because the postal service said it was unworkable.
Whether Mack Donald Trump is stupid or not depends upon one’s perception of his motives. If general support in the electorate remains effectively positive despite widespread objections and bitcoin rises in market price relative to other so-called assets then one might consider Trump a genius or at least a very clever crook, albeit self-serving above all else. Elon must be elated.
IOW, the 1% had their chance to oppose Trump in 2024, but now they must just sit by and eat it regardless of how bad it tastes. The slim electoral majority does not care about the 1% and political money only talks during campaigns.