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?
Walmart’s CFO just said that price hikes from tariffs will kick in within a few weeks in Walmart stores. Inflation has finally cooled off somewhat 5 years after Trump initiated a huge wave of it in 2020 but he seems determined to unleash even more inflation.
The reasoning they give for Tariffs is great and I agree but, if it’s just going to be used to give tax breaks to the rich while the middle class gets screwed, again, then to hell with them.
Far more productive would be to have legislation that crushed financialization tactics and which penalized directly the officers of companies that use imported goods or assemblies. You import goods, parts or assemblies then the top pay at your company is only 20 times what the lowest paid worker makes. Including contract staff not a permanent part of the company. That would get their attention. And if they say they can’t do it, then eventually we will get someone who can. Let them go down with the rest of us if we are gong to be raw material suppliers only. Get rid of “special” tax rates for finance. Why should someone who uses capital gains get better rates than someone who worked on a project for the same amount of time?
Make a law that says no banker can make over 20 times the median American income…ever(combine with separating merchant and commercial banks). The people who are only in it for the money will abandon this profession and we will likely get bankers made up of basic citizens who will do a better job.
Tax short term stock and financial transactions a tiny bit. Enough to stop so much stock manipulation. Fine short sellers. In the commodities market if you are not in the business of say, making wheat products, then you can’t buy wheat futures or other commodities. All the futures markets are gamed and in some cases rigged and it does not stabilize prices. It only stabilizes profits into speculators pockets.
The function of all these is to make it so that to make huge sums of money you have to “do something”. Make something and sell it. Not use financialization to capture markets. You must make money by selling things people want.
The pozzed Supreme court rules corporations are people so can give as much money to campaigns as they want. Fine tax them like people. Including any tax break set asides States, cities and counties give them as income and let them pay the same taxes as…people. Make them choose which tax category they want. People or no campaign funds corporations.