Well look at that, he’s already caved. https://apnews.com/article/donald-trump-trade-tariffs-european-union-f335ba9aa9d0b36cfe483f6f045c9b01 |
+1. In the last 2 months, I upgraded my iPad to give my college kid my 2 year old one, we replaced my other college kids 5 year old laptop, and both kids got new noise cancelling headphones for their birthdays (both had 5 year old ones that were absolutely falling apart. Apparently college is loud). I also bought several pieces of nice, classic clothing from a niche brand I love, US company manufactured in Korea. My daughter is a rising college senior whose weight has stayed very stable. We also bought her some high quality core pieces of a classic capsule work wardrobe. Normally I would have waited until around college graduation. But she’ll work before grad school, need things to interview, and well tailored black pants aren’t going out of style. And with that our family’s electronics purchases and high end clothing for the next 3+ years are done (DH is 100% telework software engineer still wearing t-shirts from 2005). Everyone has an iPhone that will last that long. DH and I have work laptops. Other kids is only 2 years old. And I keep my wardrobe small, but high quality and classic. My workout gear is good. I may buy nothing clothing wise but socks, underwear and probably a new pair of workout shoes for the next 2-3 years. My DD is largely covered and can fill in with a few pieces of fast fashion (she wears classic clothes to death and also has a small wardrobe). This says two things, neither of them good for Trump. One— if you look at April-May consumer spending in my house, the economy is still okay and our consumer confidence is high. But that’s deceptive. It actually reflects a lack of consumer confidence and a desire to get ahead of price hikes on purchases that we would have spread out over 18+ months. And we have the savings to suck it up and make the purchases now, and avoid inflated prices later. But you also see it with, well, everything at Costco too. People are buying everything from TVs to TP now in anticipation of not buying later and supply chain disruptions. Which leads us to 2. We only needed to do one big order, and we’re done for 3 years. If that holds and isn’t just us, it means that the Consumer driven American economy is in for a bad three years. It’s great for May numbers that there is a rush on imported electronics. But, it’s really just front loading months or years worth of purchases. Add in tanking tourism? Bad. You would have thought that COVID would have taught us something about disrupting supply chains, the complexity of the global economy, the importance of tourism in some places, and the importance of consumer confidence to small business. I guess not. Pain is coming. And unlike COVID, there won’t be bailouts of the 99% and the pain will have been entirely self inflicted. |
While the US market was closed so his EU and arab friends could make money on that insider information. |
Question is, who is taking the other sides of these trades? Is it a random sampling of people making blind monthly buys with their paycheck on highs (no, because Trump is is not raising the market, he's just lowering and restoring it)? Retirees making blind monthly sales to withdraw on down days? Is Trump robbing America's retirees pay out himself and his billionaire buddies? |
👏👏👏👏👏 |
👆this. Let MAGA reap what MAGA sows. They have lied and spread completely false stories for years, accusing democrats and real Republicans of what they themselves intended to do once in power (weaponization of the law and corruption being top of that list). When we finally wrest our country back from these thugs and criminals, they will experience exactly what they have brought to reality. |
Quite possible. Although he only stayed for 23 minutes and talked to only 10% of the 220 attendees. The rest were not happy. |