It’s Trump’s morning in America.
“The stock market is down over fourteen hundred points,” my wife greets me.
“Hey girl,” I answer. “Good morning.”
If my wife seems gleeful about the stock market, it’s because she’s angry. Bottom line, she’s in the FAFO camp. Reads ‘The Leopard Ate My Face’ tales daily. Spoons up all those tales about Trump supporters and apologists who are now Trump victims.
Trump said he would do tariffs when he ran for POTUS in 2024. Professional economists have almost all agreed, bad, bad, bad, bad, terrible idea. Trump always thinks he knows better than everyone else. He usually doesn’t. I mean, this is the guy who bankrupted a casino.
Facts don’t matter to Trump. You knew that if you watched his tariff announcement yesterday. He displayed a chart with bogus tariff info. It shows tariffs imposed on U.S. goods. Almost all those supposed tariffs by other countries are inflated by significant amounts.
With almost no surprise, then, worldwide markets dropped after his tariffs announcement.
Some people rationalize what Trump is doing as necessary. They prophesize Trump’s tariffs will bring jobs back to the United States. Factories will spring up like mushrooms after a rain across the nation. And those factories won’t use robotics, as many modern factories do. No, they will employ human, American workers. Even though the U.S. must import many of the raw and finished materials used in modern products, imported materials which will be high-priced due to Trump tariffs, those goods produced in these new factories will be amazingly cheap because they’re made in the U.S.A. There won’t be any profit taking and price gouging, because that’s not how corporations work in the United States. And the workers in those factories will be magnificently compensated for their hourly labor because companies in the United States are known to generously pay hourly employees. Why, it’ll be the greatest economy ever!
If you believe all that, I have an automobile manufacturing plant in Ashlandia to sell you.