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Too Many Circles To Square
A key question as Donald Trump squeezes into his "Tariff Man" leotard in the service of rebalancing global trade asks if US consumers are willing and able to foot the bill for the restoration of American "greatness."
Even Trump conceded last week that "We may have some pain" in the short-term, where "we" is a category that doesn't include billionaires like himself. Rather, "we" means everyday people who, depending on how this all develops, will pay higher prices as a result of steep import duti
America now has people in the lower income brackets being jerked from one economic paradigm to the other- where they lose both ways – at a time when the greatest danger may well be inequality itself (which gave rise to populism that is now perceived to be driving the bus). In other words, the new solution is the disease in disguise. Meanwhile, corporations and the ultra rich get even richer once again, which is never acknowledged by the powers that be – and the uninformed victims are duped again, blinded by their destructive rage.
DL, very well said.
The problem with saying the corporations can afford it is that I expect a large portion of that post 2020 spike in profits is due to the Mag 7. And they don’t import much in the way of goods.