1 Like
What happened next week will indicate whether situations would develop into Global Great Depression and WW3 eventually. My nightmare is I would end up in an internment camp.
Just saw the new SG PM addressed the nation. Situation is dire.
1 Like
10% tariff is for countries US has trade surplus with. That means countries we don’t import much from.
For an average Walmart shopper the tax would be 30 or 40%.
People would rather be woke than broke.
We may soon be smuggling in iPhones from other countries. Buy in Hong Kong. No tariff and no sales tax either. Half price.
1 Like
Wrecking the market is not popular.
1 Like
meanwhile Bessent says “There doesn’t have to be a recession.” 
1 Like
Bessent is right. There is absolutely no reason to have a recession. Our economy was the envy of the world as late as Jan this year.
Until Trump wrecks it for no reason. He and his henchmen 100% own this.
Betting market odds for recession this year now stands at 67%
What happen if China decides not to respect US IP rights?
Surprisingly, some nations didn’t realize is not a tariff issue, it is a deficit issue. Trump wants a barter trade, if US imports $10B from nation B, he expects nation B to import $10B from US. So dropping tariff to 0 won’t help. Also, minimum 10% tariff even if nation B imports $10B. 10% is a stealth sale tax… Trump didn’t want to get it directly from American consumers, he wants the three parties (American consumers, American importers, foreign exporters) to fight it out.
You are giving too much credit to Trump. He is just a moron with an IQ < 85. He truly thinks Americans buying stuff from abroad is a ripoff. And a large part of his base still believes his bullshit.
This man has been saying the same stuff for the last 40 years. He was stupid to believe that when he was younger and still had some functioning brain cells. He’s 80 now and likely even more stupid. He won’t update his thinking.
Only thing he understands is personal win/loss and bullying. If market goes down too much there will be such a huge political pressure that even Trump can’t withstand. At that point he will back down. Not because he realizes his theory was stupid. But because he knows he will lose this fight.
When will that day come? I don’t know. Bill Ackman has just started bitching non stop on Twitter right now. Elon was visibly unhappy. Trump’s coalition is turning against him. A matter of time.
1 Like
.
That I agree 
1 Like
MAGA thinks China having huge trade surplus is unfair. Interestingly, from China’s perspective the system is unfair to them.
Chinese people work like a dog for low pay making stuff for Americans. In return US just prints infinite money on demand and hand the Chinese a piece of paper. US is free to print because USD is the premier reserve currency. Chinese government always resents this fact.
I don’t think the system is unfair to either side. But funny both sides thinks it’s unfair to them.
3 Likes
Singapore ex PM Lee on tariffs. Very clear eyed on the causes and implications. Sharp guy.
His point is that you can’t expect China not to respond. Every country has their own politics. To be seen as weak is just not politically plausible for Xi.
https://x.com/artinmemes/status/1909098456632938855?s=46&t=e2DAkaxaGRhpAWcndjTw-g
1 Like