Wait a minute.
I thought Trump destroyed the economy.
I thought we were on the verge of a Black Monday wipeout.
I thought this was the beginning of empty shelves and the Second Great Depression.
“With major indicators from April — the month of peak tariff uncertainty — now in, none show the kinds of recessionary or inflationary conditions implied by business and consumer surveys.
Why it matters: Warnings and anecdotes are taking on greater importance as signs of how tariffs are working their way through the economy.
The big picture: New data out Thursday showed steady retail sales and a surprising drop in wholesale prices in April. So far, so good. …”
Shouldn’t a mild permanent 10% global revenue tariff, which would take us back to the 1960s, have unleashed Armageddon?
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