The only checks we’re going to see are the ones we’re going to have to cut to soy bean farmers, again.
Generic talking points? Yeah, seven TRILLION newly printed dollars dumped into the economy is far from talking points. It's the very reason why we got Biden-flation.
And now he tanks the market worse by pressuring the Fed Chair to push for lower interest rates (prior to inflation from tariffs). It turns out that markets don't love signals of violating the independence of the Fed. Markets now down about 4%.
Hey, remember when Trump's cabinet added a journalist to their war plans chat group, and some of us wondered what terrible thing Trump would have to do next to make everyone stop talking about that colossal screw-up? It was last week... Imagine voting for a rapist felon whose incompetence was already proven (let's get bleach and light inside the body!) and then watching him out-scandal Hillary Clinton and out-Jimmy-Carter the economy in one week. It must take so much self-denial and projecting just to make it through each day.
Yeah… hadn’t thought about that… tariffs drive inflation… the FEDs default position is to raise rates to fight inflation…. Stagflation, here we come. Enjoy the hardship and pain Trump and Musk promised, America….
No way Powell is going to cut interest rates at this point. High employment numbers combined with a trade war speaks to just the opposite. Cutting interest rates at this point would be asinine.
Not sure what that equates to in dollars but I saw somewhere that Musk’s net worth drops by one billion for every $2 and change ($0.40?) that Tesla shares value drops. That has to have made a dent.
Clearly most of us underestimated the extent of trumps tariffs and are now paying the price. Personally, I lightened up a bit earlier this year, but clearly not enough, losses mounting. Those not in the stock market, probably not really impacted yet. One can only hope some common sense prevails and these tariffs are negotiated down before inflation/recession/unemployment become a reality. Could be a stock buying opportunity if you are a trumpster or believe these tariffs will soon be negotiated down/rescinded.
The problem for him is that doing so will require admitting that his core policy is stupid. And he can't unring the bell around the instability. If he pulls the tariffs and the markets return, let's say, 70-80% of the value lost, then he admits he cost people huge chunks of money for no actual reasons.
