The stock wipeout was to be expected. The Big Dipper strikes again. Yesterday’s stock wipeout was just the beginning of Summer Camp for the Stupid.
Thanks to a dazzling combination of total economic illiteracy and failed policies from a century ago, the Big End of Town got its big end kicked hard.
You’ve just lost trillions worth of working capital. Who knows how long it’ll take for prices to recover, even with market manipulation and cosmetic buying?
China and the EU have responded angrily to the tariffs. They can do a lot of damage to US trade individually, let alone together. Nike just got massacred by 48% tariffs on Vietnam, where they make most of their shoes.
I’ll try to minimize the scatology.
Of all the unrealistic, ludicrous attempts at making a chicken salad from this administration, the tariff policies are the worst. They’re suicidal, and you were told they were suicidal.
Here are a few snippets from the rest of the world:
The world can’t deglobalize. America locked in the trade realities decades ago. These “new” policies are the equivalent of taking a box of matches and a lot of highly flammable idiots on Wall Street and elsewhere to a napalm party.
America has real competition now. This is big competition with a lot of real money and market reach, and it’s competent. China, Japan and South Korea have already worked out a way of avoiding the US altogether.
Nobody else has ever managed to totally antagonize Canada in a few sentences. Your biggest domestic trading partner has had enough. That’s already costing you billions. Do you cocoon dwellers get that, yes or no?
Simultaneously you’ve just crashed the US domestic economy. The only things likely to be Made in America for some time are lawsuits and bankruptcy hearings.
US revenue, on which the Sacred Government Contracts are based, is now a bingo game. Assuming the US dollar holds up, which it might not now.
The credit markets are going to get hit hard as this demented plush toy bites. You really think they’re not going to see trillions lost, and not gouge you when you borrow bailout funds? Why?
“American exceptionalism” now equates to an exceptional level of ignorance. You’d be lynched in first-year economics or business for this load of garbage. People would be wondering how you got out of grade school.
Repeated warnings were ignored. Everybody around the world and in the US said unanimously that this would be a disaster. It is. Any questions, bozos?
I’ll try to express the situation simply.
On Facebook this morning I got an approach from someone called Elon Tesla, asking me for a friend request. He said he’d wait. I said the dinosaurs should be back by then.
You don’t have that much time. You’re losing big money right now.
You’ve got one option to get out of this. I suggest you don’t wait.
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Disclaimer
The opinions expressed in this Op-Ed are those of the author. They do not purport to reflect the opinions or views of the Digital Journal or its members.
