President Donald Trump said Friday he would place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective Saturday, raising the specter of swift price increases for U.S. consumers even though he suggested he would try to blunt the impact on oil imports.
So much for controlling inflation and bringing down the price of oil and groceries.
A crash and depression may be what he has in mind.
I can't even enumerate all the things that will jump by 25% that's
ReplyDeletepercent, not 25 cents. Inflation at that level will break the
economy in a very short time. I think 3 months of that and
people will be looking for orange turds head on a pike. He
can't duck it if it all turns to shit, his name will be on it..
Eck!
And so will his party. They will be the Party of Hoover/Trump for a generation or more. After the 2026 elections, it will be thirty years or more until they have a shot at controlling Congress.
DeleteYou were told it was going to be a circus. GLD is up 40 points since I bought it. It exceeds the 10% weighting for someone my age. I thought about buying some more this morning. Do I hear bond vigilantes warming up in the background? https://www.youtube.com/watch?v=C_zo0FiNheI
ReplyDeleteFirst he will damage his base, then the party will follow. Or maybe
ReplyDeleterevolt to save the party.
Either way the willful blind followers will suffer. Some may have an Epiphany. But times up, too late.
Eck!
He will blame it on the Democrats, and many of his followers will believe him.
ReplyDeleteIf it drives Democrats to show up and vote, we will win a few elections.
-Doug in Sugar Pine
I've long wondered if we haven't gotten too good at saving ourselves from various kinds of disaster....from dread disease (once Death in many forms), from economic crash, from loss of everything (bank regulation and insurance), etc...that we have come to the point that too many think that these hazards no longer exist/don't need prevention, indeed that dead-nuts competency is some fraud perpetrated by self-inflated elites and professionals. The Rise of the Moron. That it might take another God-awful Great Depression/Plague to force a sanity/reality check upon the idiots. And we DO so love being idiots, many of us. I'm a dumb peckerneck and I'm proud and I will thump your ass to show you how superior I am.
ReplyDeleteSchiller: "Against stupidity the very gods themselves contend in vain."
As I have Canadian family, I'm going to buy goods as much as possible from Canada to support them.
ReplyDeleteThanks JustMusing. As a Canadian family, we are preparing to buckle down for a rough ride. We won't starve but times will not be good. This is going to hurt you, but it's going to hurt us more as we do not have as far to fall before ground contact. And Stewart Dean, I think you are right because the fat's been stripped off the steer for some time.
ReplyDelete