We are simply back to where we were pre Liberation day but with higher 10% Tariffs on many nations. Not enough to bring production back to USA. But just enough to raise prices for consumers.
“Trump has become the greatest bag-holder-maker that Wall Street has ever seen.”
Excerpt of original essay
“Over many decades, when Wall Street discovered it had pushed market prices higher than the public could pay or was interested in paying, they rolled the market top, unloading stocks on buyers who believed the nonsense their analysts and sycophants were spewing. When they were ready to pull the plug by simply going ‘no bid’, the market crashed. Typically, the take-out specialist was the Federal Reserve System chairman, who Wall Street and financial media painted as evil incarnate. In 1980, the hated Fed chairman had quickly raised interest rates to an unacceptable 20% to kill out-of-control inflation. In 1986-87, the Japanese would buy up all the American real estate until Japan crashed. In 2000-2001, the bad guy was the day trader shops, until the customers realized that 90-95% were losers and had no profits to buy Caribbean private islands. In 2006-2007, it was the CNBC real-estate tour across America selling over-priced condos that would double in price annually due to foreign investors, who were either drug dealers or ghosts.
For more than 60 years, I have watched these cycles repeat, as the public got screwed out of hard-earned wealth. I have watched Humongous Banks & Brokers, market & politically savvy CEOs, and financial TV personalities get richer, and the average person fall further behind.”
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