Bubble, bubble, toil and trouble, look at those stock markets crumble! Asian ones, Australian ones, from East to West and North and South, near, far and wherever you are, a historic $6 trillion stock market crash (SO FAR), and hedge fund managers are talking about “nuclear winter.”
. . . JPMorgan has lifted the odds for a US and global recession to 60 percent, and short sellers and those with strong cash positions are licking their bear-chops. Even crypto is crashing (though by less).
. . . Also panicking the exchanges, the tariffs Trump says are reciprocal are actually not, and not based on foreign countries’ trade barriers at all. His big-brain formula is a percentage of bilateral trade deficits, the percent more we are buying from other countries than they are buying from us, not how much countries are charging purchasers of American goods. And there is nothing wrong with trade deficits, as that is and how trade works. I too have a “trade deficit,” with Costco, of groceries, because they don’t accept Wonkette articles as payment and I can’t grow all my food in my backyard. That is what trade is.
The man and his minions are stupid or lying, and both are bad. (Speaking of his minions, remember that Trump got many of his most genius tariffs ideas from his favorite econ crank Peter Navarro, who got them from “Ron Vara,” an imaginary “expert” he made up that is just an anagram of his last name. Really.)
Wait . . . what??