The old adage of ‘It’s the economy stupid’ really stands the test of time. Unless the current economic policies of the Trump administration really do improve the economy, primarily by making stuff more affordable, Trump’s approval rating will continue to sag. Unlike some other issues where the media can influence views, like immigration and crime, people generally experience the economy on a daily basis and won’t be spun by the talking heads. I think this will end poorly for R’s because the current economic policies, especially around tariffs, are unlikely to help the economy and are more likely to raise prices without a commensurate economic benefit.
There you go again, a liberal calling anybody who doesn’t agree you with a dumb ass
I just logged on. I haven’t read any of the comments except for this one. I’m going to bet there are many people who are saying the Democrats absolutely can’t handle the economy Any better.
Not calling anyone dumb…..just pointing out that ultimately Trump’s approval ratings and success will be determined primarily by economic outcomes rather than other things (like the media coverage which can be so slanted in both directions). So if you think Trump’s economic plan will work and create a better economy then you should be bullish on his prospects. That’s not my view but the great thing about this country is we can have differing views and express them civilly.
Who’s the governor of Arizona? No liberals in Arizona? I’m wondering who’s confused here. I’m not posting as a MAGA at all. You might despise MAGA but get your facts straight
The Liberal Patriot's exceptionally refreshing and insightful journalism has become more than repetitively boorish and politically doctranaire when it comes to the snapshot in time known as polling; even accurate polling.
The damage done to and by American trade, tariff and industrial policy over the past 50 years made that "giant sucking sound" we continue to ignore at our own peril. The economically eviscerated rustbelt is one legacy of that folly. Visit a once economically vibrant Flint, Michigan or Dayton, Ohio for the stark evidence of this enduring decline.
Americans with a clearer understanding of this sorry economic trajectory, fostered under both past Democratic and Republican administrations, also understand that the devastation is not going to be undone overnight, and it can't be undone piecemeal.
Yes, the Trump Administration's remedies seem draconian, certainly compared to the smug and unsatisfactory statism of most of the past half century or more.
But reverse those past policies and eliminate or vastly reduce runaway trade and budget deficits isxa must. Most Americans almost certainly are willing and, frankly, have no choice but to give this Administration and Congress until the midterms -- the only poll that counts -- to show continued and preferably. escalating signs of progress.
These policies would be worthy of good will if they demonstrated an effort by those that crafted them to actually sit down, assess the issue, and craft a solution with a basic understanding of it.
Instead, they have imposed policies that A.) give the people affected by them no time to adjust, and B.) don't make any economic sense whatsoever.
If you are determining tariff rates by targeting trade surpluses, as Trump's team did, you have not taken the time to understand trade surpluses and deficits. If your goal is to A.) achieve a trade surplus via tariffs, and B.) maintain the dollar as the world reserve currency, without a gold standard in place, you don't understand the relation between reserve currencies and trade deficits.
If you're an NP at a hospital and you're determined to help a patient with an ill-functioning heart, and you attempt to do so by drugging them, performing open-heart surgery on them without any authorization or training, and without being in the presence of other doctors, causing the patient to almost die, you are not worthy of "good will"--you are guilty of malpractice.
What we just witnessed since liberation day is, in essence, economic malpractice. That's not just my opinion; that's the bond market's opinion.
Paraphrasing, NAFTA ushered in Globalism and Globalist Trade. It did not deliver anything it promised because as the article explained, "It wasn't designed to."
NAFTA and its sequels (Trans-Pacific Partnership with eleven Pacific Rim countries, an a free trade agreement with Europe), is a major contributor to rising inequality of incomes and wealth.
Democratic leaders, Republican leaders, and Corporate America traded away the interests of the American worker so they could get wealthy. NAFTA and its sequels enabled legal access to cheap labor, less environmental, safety, and health regulations, and weak governments more susceptible to bribery.
We are living the consequences of an elitist class that really doesn't care about the average American who has to work for a living.
"Promoters of NAFTA-style globalization paint the opposition as “protectionists.” This is demagoguery. The issue is not trade with other nations. It is trade policies. For 200 years U.S. trade policies balanced imports and exports, and the interests of workers and investors. Job losses in one sector were matched by job gains in others. So if a company replaced workers with machines, the increased profits were re-invested in other parts of the domestic economy. But after NAFTA, companies were encouraged to re-invest—and create the new jobs—overseas. As a result, the more trade expands, the more jobs are outsourced."
Congratulations, you went on a rant about NAFTA totally tangential to my point. My post was about how Trump's tariff policies have shown no understanding about how the mechanics of world trade--trade surpluses, trade deficits, the effects of tariffs on such, the effects of the dollar's reserve currency status on such--work, and as a result have done nothing but inflict economic damage on everyone, most of all Americans, thus failing to help with any of the problems you mention above. And policies crafted with seemingly no understanding of these mechanics does not make said policies worthy of 'good will'.
If you have some counterargument that shows Trump's policies demonstrate an understanding of these issues, please lay it out. You can start with the idea basing your tariff rates by targeting the trade surpluses of other countries--I'm eager to see how you can possibly explain that as rational policy. Then I'd like to know how, exactly, any rational policymaker can plan to achieve a U.S. trade surplus and keep the dollar as the reserve currency.
Explain how these policy *implementations* (not the same as their goals) are at all rational, please.
I can explain why the ways in which these policies are being implemented are irrational, if you wish. But since you claim they *are* rational in their implementation, I'd prefer to hear your explanation first.
I did not claim they are rational (meaning TRADE POLICIES), in fact just the opposite if you bothered to read what I wrote. (Regarding Trump's use of Tariffs, it is a tool he can use to bring Trade negotiations to the table which I believe he is succeeding at. The exception is China which should be obvious as to why)
Besides if you have something to say, say it, otherwise find another website to fill with your blathering. (Sounds like you are an Orange Man Bad simp, and if so say it, don't beat around the bush)
Note that nowhere in point #2 or #3 does he mention the gold standard, which is what kept the 'American System' (high tariffs paired with high exports) afloat by balancing the terms of trade. (see: https://web.uncg.edu/dcl/courses/global/unit5/part2.asp)
Nor does he talk anywhere about Bretton Woods and the trade effects of the de-linking from gold...or the petrodollar...or the entire context of global trade since the 19th century.
But otherwise a great exercise in not explaining the relation between trade, tariffs and the dollar's role in the world economy very well.
The one thing you can definitely expect Trump *not* to have to show for all this needless chaos, if he continues in the fashion he is governing right now, is the manufacturing renaissance he promised.
Factories take years to build; even existing factories can take lots of time to relocate production. If you are someone involved in the decision to build or not build a factory, why the heck would you build one if you have no way of determining what import taxes you will be paying a week from now, or a month from now? How do you price input costs? If you want to relocate production, how can you be sure the effort will be worth it when one day tariffs are at 50% and the next they're at 0%?
And if interest rates are jumping around in the bond market *without* any signals from the Fed, but in response to capricious trade policy, why would you risk investing in something as capital-intensive as building a factory? There's no way to estimate what interest rates will look like a few months from now.
A huge element of effective protectionism is stable incentives. Industrial companies have no incentive to either reshore or invest in new facilities in this environment.
What “Trump mandate”? He won because of an entrenched two party system dominated by extreme anti-government activists in his party, with his opponent being a de-facto Marxist crowned in desperation by the leftist activists of her party. We centrists had no meaningful choice, although I at least expressed my disdain for both Trump and Harris by writing in a rational centrist.
People aren't going to read your links. What you "think" is irrelevant. Companies require real stability to invest billions in manufacturing. Anywhere. As long as chaos reigns and people are filled with uncertainty...Ford and GM stay put in Puebla.
Trump and his minions don’t care as he’s term limited and it’s always been about him and him alone. Voters who thought otherwise should have learned from his first term. Sadly, we are all paying for their ignorance or stupidity.
It will all work out over the next year or two. Yes, the American people are a bit disappointed, and how the economy seems to be going right now, but they are also being misled by the liberal press. The real issues that concern real Americans, and that will propel Donald Trump to the fan that he deserves are the cultural issues that affect the great American life, and he will bring it back. Crime is rampant in this country, especially violent crime. Illegal aliens are ruining our cities. And as foreign policy goes Trump has a mission, and it is directly opposite the appeasement of Joe Biden
Why ever would the public sour on the economy, with the constant drumbeat of the press (the first six pages of our local paper is 100% negative stories on the current administration)?
I can't figure out the Democrat platform right now? Is it still open borders? Violence? Performance videos? What?
The Trump team's seeming incompetence on many fronts is disconcerting. I want to see them succeed on many issues and they seem to be floundering.
It feels as if I've lost a heck of a lot of money over the past couple of weeks. This trade war seems ill considered. I like the idea of tariffs but removing them so quickly for no reason and with no concessions from China doesn't seem like winning. I'd say we took a huge hit to our stock market, and China has now restricted the rare earth minerals we need to manufacture tech as well as the batteries for E car manufacture. Not a good look.
Our border has been far more restrictive, but little has actually been done to reverse the excess of the Biden folks. Deportations hardly exceed current immigration levels and nothing has been done with E verify.
I’m going through this very very quickly. But I think I’m agreeing with at least parts of what you’re saying. Congress actually needs to do something. They need to actually write some laws that need to be passed. Trump is just doing stuff that can be reversed.
Again - the word "liberal" in the website title moniker is a definite tell.
Since President Woodrow Wilson's arrogant academic obsession with seeing his "living document" theory applied to the US Constitution, like a hammer seeing every problem as a nail, he did so to the point of earning being called the grandfather of liberalism. But now that's been updated to "Progressivism" with all its deleterious affects spilling out all over everything labeled liberalism. Like the above comment.
Incompetence? obsessive TDS.
Floundering? delusional.
Losing money in the markets? Who hasn't?
But the percentage is hardly a BLIP historically.
E-car Manufacturing has been declining across the board, moot point.
Regarding Border security - the Border is more secure today than it was during Biden's Administration.
Why are people having such a hard time understanding the dazzlingly brilliant strategy of delays, retreats, new threats, sudden exceptions and trial balloons? Somebody once said trade wars were easy to win.
You have reversed the causality on the people like me metric. The GOP gains on this are the cause of the voting preference of the working class, not the result.
Time will tell the story on tariffs. And Democrats, just keep grasping at anti-Trump straws to hang on to so you can feel better. No matter what happens, we'll see how short the memory is of independent voters when it's time to vote. The Democrat Party ALLOWED OPEN BORDERS, an invasion of ILLEGAL MIGRANTS, historic INFLATION, and CRIME INCREASE throughout America. WE CANNOT TRUST THE DEMOCRATS!!! And now the face of the Democrat Party is AOC and Jasmine Crockett. Good luck to Democrats
While it is unlikely that Trump will ever move on from his obsession with tariffs, it looks like his attention has been diverted for a while with a war on Harvard and higher education. He will, of course, move on from this diversion as well with little to show for it. Presumably, he might become engaged on the legislative tax bill. While, more certainty about tariff policy would be preferred by investors, the pause in the daily drama should settle things down a little.
Following the pandemic the U.S. economy has grown faster than the EU, Japan, and other developed countries. Lower future growth will mean higher debt service.
A lot of people like the idea of tariffs. It is the reality of implementing tariffs that sucks - inflation, unemployment and economic stagnation (so-called short-term pain). Not so long ago the United States' economy was the envy of the world.
Have you seen an estimate as to how much revenue would be generated by tariffs to reduce the budget deficit? Peter Navarro often uses this as a justification for high tariffs. Other Trump advisors argue that tariffs are transitional to be used to leverage other things.
The counterpoint is that Democrats will be increasingly overleveraged if all they're relying on is the economy imploding to such an extent that it affects more than the asset owning classes. The average person in the middle 10% of the wealth distribution curve doesn't have a 401(k) or a significant position in the stock market. If we go by the 10% tariffs on Chinese steel from recent years, those translated to a 1% to 2% actual price increase. The way the press is portraying the tariffs would have you think a 50% tariff translates to a 50% increase in consumer prices.
I'd wager older/wealthier people trended more towards Biden anyways, as they subconsciously voted for the only suitable platform Democrats could have won on but failed to emphasize - namely that having a vegetable for a president doesn't matter since all the important stuff is held together on autopilot by the administrative state. Trump doesn't have much to lose so long as consumer prices don't increase to the extent that people have been greased to expect, even with something like a 15% stock market correction.
Short term economic pain to all for long term economic benefits to the bottom 80% replacing the decades of short-term benefits for the top 10% and 1% over the long-term pain of the bottom 80%
People tend to respond to the here and now, and so the dip is expected.
The old adage of ‘It’s the economy stupid’ really stands the test of time. Unless the current economic policies of the Trump administration really do improve the economy, primarily by making stuff more affordable, Trump’s approval rating will continue to sag. Unlike some other issues where the media can influence views, like immigration and crime, people generally experience the economy on a daily basis and won’t be spun by the talking heads. I think this will end poorly for R’s because the current economic policies, especially around tariffs, are unlikely to help the economy and are more likely to raise prices without a commensurate economic benefit.
I am betting that we will start seeing a fruitful return on our short term pains.
Most smart people disagree with you.
There you go again, a liberal calling anybody who doesn’t agree you with a dumb ass
I just logged on. I haven’t read any of the comments except for this one. I’m going to bet there are many people who are saying the Democrats absolutely can’t handle the economy Any better.
Not calling anyone dumb…..just pointing out that ultimately Trump’s approval ratings and success will be determined primarily by economic outcomes rather than other things (like the media coverage which can be so slanted in both directions). So if you think Trump’s economic plan will work and create a better economy then you should be bullish on his prospects. That’s not my view but the great thing about this country is we can have differing views and express them civilly.
David, wasn't replying to you - sorry for the confusion. I was replying to Algo, who was implying, well, you know....
I'm from Arizona. There aren't any "Liberals" here. Just people who despise Chump.
Who’s the governor of Arizona? No liberals in Arizona? I’m wondering who’s confused here. I’m not posting as a MAGA at all. You might despise MAGA but get your facts straight
The Liberal Patriot's exceptionally refreshing and insightful journalism has become more than repetitively boorish and politically doctranaire when it comes to the snapshot in time known as polling; even accurate polling.
The damage done to and by American trade, tariff and industrial policy over the past 50 years made that "giant sucking sound" we continue to ignore at our own peril. The economically eviscerated rustbelt is one legacy of that folly. Visit a once economically vibrant Flint, Michigan or Dayton, Ohio for the stark evidence of this enduring decline.
Americans with a clearer understanding of this sorry economic trajectory, fostered under both past Democratic and Republican administrations, also understand that the devastation is not going to be undone overnight, and it can't be undone piecemeal.
Yes, the Trump Administration's remedies seem draconian, certainly compared to the smug and unsatisfactory statism of most of the past half century or more.
But reverse those past policies and eliminate or vastly reduce runaway trade and budget deficits isxa must. Most Americans almost certainly are willing and, frankly, have no choice but to give this Administration and Congress until the midterms -- the only poll that counts -- to show continued and preferably. escalating signs of progress.
These policies would be worthy of good will if they demonstrated an effort by those that crafted them to actually sit down, assess the issue, and craft a solution with a basic understanding of it.
Instead, they have imposed policies that A.) give the people affected by them no time to adjust, and B.) don't make any economic sense whatsoever.
If you are determining tariff rates by targeting trade surpluses, as Trump's team did, you have not taken the time to understand trade surpluses and deficits. If your goal is to A.) achieve a trade surplus via tariffs, and B.) maintain the dollar as the world reserve currency, without a gold standard in place, you don't understand the relation between reserve currencies and trade deficits.
If you're an NP at a hospital and you're determined to help a patient with an ill-functioning heart, and you attempt to do so by drugging them, performing open-heart surgery on them without any authorization or training, and without being in the presence of other doctors, causing the patient to almost die, you are not worthy of "good will"--you are guilty of malpractice.
What we just witnessed since liberation day is, in essence, economic malpractice. That's not just my opinion; that's the bond market's opinion.
NO, you are incorrect. Please read this article ref: https://www.epi.org/blog/nafta-twenty-years-disaster/
Paraphrasing, NAFTA ushered in Globalism and Globalist Trade. It did not deliver anything it promised because as the article explained, "It wasn't designed to."
NAFTA and its sequels (Trans-Pacific Partnership with eleven Pacific Rim countries, an a free trade agreement with Europe), is a major contributor to rising inequality of incomes and wealth.
Democratic leaders, Republican leaders, and Corporate America traded away the interests of the American worker so they could get wealthy. NAFTA and its sequels enabled legal access to cheap labor, less environmental, safety, and health regulations, and weak governments more susceptible to bribery.
We are living the consequences of an elitist class that really doesn't care about the average American who has to work for a living.
"Promoters of NAFTA-style globalization paint the opposition as “protectionists.” This is demagoguery. The issue is not trade with other nations. It is trade policies. For 200 years U.S. trade policies balanced imports and exports, and the interests of workers and investors. Job losses in one sector were matched by job gains in others. So if a company replaced workers with machines, the increased profits were re-invested in other parts of the domestic economy. But after NAFTA, companies were encouraged to re-invest—and create the new jobs—overseas. As a result, the more trade expands, the more jobs are outsourced."
Congratulations, you went on a rant about NAFTA totally tangential to my point. My post was about how Trump's tariff policies have shown no understanding about how the mechanics of world trade--trade surpluses, trade deficits, the effects of tariffs on such, the effects of the dollar's reserve currency status on such--work, and as a result have done nothing but inflict economic damage on everyone, most of all Americans, thus failing to help with any of the problems you mention above. And policies crafted with seemingly no understanding of these mechanics does not make said policies worthy of 'good will'.
If you have some counterargument that shows Trump's policies demonstrate an understanding of these issues, please lay it out. You can start with the idea basing your tariff rates by targeting the trade surpluses of other countries--I'm eager to see how you can possibly explain that as rational policy. Then I'd like to know how, exactly, any rational policymaker can plan to achieve a U.S. trade surplus and keep the dollar as the reserve currency.
Explain how these policy *implementations* (not the same as their goals) are at all rational, please.
And you sir, for the most part, don't know what you are talking about.
I hope nobody depends on you for your negotiation skills.
I can explain why the ways in which these policies are being implemented are irrational, if you wish. But since you claim they *are* rational in their implementation, I'd prefer to hear your explanation first.
Lay it out for me.
I did not claim they are rational (meaning TRADE POLICIES), in fact just the opposite if you bothered to read what I wrote. (Regarding Trump's use of Tariffs, it is a tool he can use to bring Trade negotiations to the table which I believe he is succeeding at. The exception is China which should be obvious as to why)
Besides if you have something to say, say it, otherwise find another website to fill with your blathering. (Sounds like you are an Orange Man Bad simp, and if so say it, don't beat around the bush)
https://www.facebook.com/share/p/1Zbu2teQxq/
Note that nowhere in point #2 or #3 does he mention the gold standard, which is what kept the 'American System' (high tariffs paired with high exports) afloat by balancing the terms of trade. (see: https://web.uncg.edu/dcl/courses/global/unit5/part2.asp)
Nor does he talk anywhere about Bretton Woods and the trade effects of the de-linking from gold...or the petrodollar...or the entire context of global trade since the 19th century.
But otherwise a great exercise in not explaining the relation between trade, tariffs and the dollar's role in the world economy very well.
The one thing you can definitely expect Trump *not* to have to show for all this needless chaos, if he continues in the fashion he is governing right now, is the manufacturing renaissance he promised.
Factories take years to build; even existing factories can take lots of time to relocate production. If you are someone involved in the decision to build or not build a factory, why the heck would you build one if you have no way of determining what import taxes you will be paying a week from now, or a month from now? How do you price input costs? If you want to relocate production, how can you be sure the effort will be worth it when one day tariffs are at 50% and the next they're at 0%?
And if interest rates are jumping around in the bond market *without* any signals from the Fed, but in response to capricious trade policy, why would you risk investing in something as capital-intensive as building a factory? There's no way to estimate what interest rates will look like a few months from now.
A huge element of effective protectionism is stable incentives. Industrial companies have no incentive to either reshore or invest in new facilities in this environment.
Wrong again, Sherlock!
Really this website should block this user.
Capricious trade policy? Read: https://www.epi.org/blog/nafta-twenty-years-disaster/
That article was written in 2014. Its worse now.
The Trump mandate was not a request.
I think companies will get the point if they aren't by now.
What “Trump mandate”? He won because of an entrenched two party system dominated by extreme anti-government activists in his party, with his opponent being a de-facto Marxist crowned in desperation by the leftist activists of her party. We centrists had no meaningful choice, although I at least expressed my disdain for both Trump and Harris by writing in a rational centrist.
People aren't going to read your links. What you "think" is irrelevant. Companies require real stability to invest billions in manufacturing. Anywhere. As long as chaos reigns and people are filled with uncertainty...Ford and GM stay put in Puebla.
Algo is now the mind-reader, knows-all, knows what all people will/won't do. WOW! Amazing what you know.
What all these polls tell us is those polled have no patience, imagine that, and want it all now.
Pollsters have nothing useful to do, those who report on them have nothing useful to print.
Sorry guys. Tomorrow you could print an article 180 degrees from this one. Or as in most polls, they will be replaced and forgotten in a day or two.
Trump and his minions don’t care as he’s term limited and it’s always been about him and him alone. Voters who thought otherwise should have learned from his first term. Sadly, we are all paying for their ignorance or stupidity.
Oh brother. Yes, Dems should run again on the voters are ignorant and stupid.
Don't you wish
It will all work out over the next year or two. Yes, the American people are a bit disappointed, and how the economy seems to be going right now, but they are also being misled by the liberal press. The real issues that concern real Americans, and that will propel Donald Trump to the fan that he deserves are the cultural issues that affect the great American life, and he will bring it back. Crime is rampant in this country, especially violent crime. Illegal aliens are ruining our cities. And as foreign policy goes Trump has a mission, and it is directly opposite the appeasement of Joe Biden
Why ever would the public sour on the economy, with the constant drumbeat of the press (the first six pages of our local paper is 100% negative stories on the current administration)?
I can't figure out the Democrat platform right now? Is it still open borders? Violence? Performance videos? What?
The Democrat party is easy to figure out it loves gay people, people of color, illegal, immigrants, criminals, etc.
The Trump team's seeming incompetence on many fronts is disconcerting. I want to see them succeed on many issues and they seem to be floundering.
It feels as if I've lost a heck of a lot of money over the past couple of weeks. This trade war seems ill considered. I like the idea of tariffs but removing them so quickly for no reason and with no concessions from China doesn't seem like winning. I'd say we took a huge hit to our stock market, and China has now restricted the rare earth minerals we need to manufacture tech as well as the batteries for E car manufacture. Not a good look.
Our border has been far more restrictive, but little has actually been done to reverse the excess of the Biden folks. Deportations hardly exceed current immigration levels and nothing has been done with E verify.
I’m going through this very very quickly. But I think I’m agreeing with at least parts of what you’re saying. Congress actually needs to do something. They need to actually write some laws that need to be passed. Trump is just doing stuff that can be reversed.
Again - the word "liberal" in the website title moniker is a definite tell.
Since President Woodrow Wilson's arrogant academic obsession with seeing his "living document" theory applied to the US Constitution, like a hammer seeing every problem as a nail, he did so to the point of earning being called the grandfather of liberalism. But now that's been updated to "Progressivism" with all its deleterious affects spilling out all over everything labeled liberalism. Like the above comment.
Incompetence? obsessive TDS.
Floundering? delusional.
Losing money in the markets? Who hasn't?
But the percentage is hardly a BLIP historically.
E-car Manufacturing has been declining across the board, moot point.
Regarding Border security - the Border is more secure today than it was during Biden's Administration.
Why are people having such a hard time understanding the dazzlingly brilliant strategy of delays, retreats, new threats, sudden exceptions and trial balloons? Somebody once said trade wars were easy to win.
You have reversed the causality on the people like me metric. The GOP gains on this are the cause of the voting preference of the working class, not the result.
Time will tell the story on tariffs. And Democrats, just keep grasping at anti-Trump straws to hang on to so you can feel better. No matter what happens, we'll see how short the memory is of independent voters when it's time to vote. The Democrat Party ALLOWED OPEN BORDERS, an invasion of ILLEGAL MIGRANTS, historic INFLATION, and CRIME INCREASE throughout America. WE CANNOT TRUST THE DEMOCRATS!!! And now the face of the Democrat Party is AOC and Jasmine Crockett. Good luck to Democrats
While it is unlikely that Trump will ever move on from his obsession with tariffs, it looks like his attention has been diverted for a while with a war on Harvard and higher education. He will, of course, move on from this diversion as well with little to show for it. Presumably, he might become engaged on the legislative tax bill. While, more certainty about tariff policy would be preferred by investors, the pause in the daily drama should settle things down a little.
Following the pandemic the U.S. economy has grown faster than the EU, Japan, and other developed countries. Lower future growth will mean higher debt service.
A lot of people like the idea of tariffs. It is the reality of implementing tariffs that sucks - inflation, unemployment and economic stagnation (so-called short-term pain). Not so long ago the United States' economy was the envy of the world.
We're $36 trillion in debt.
Have you seen an estimate as to how much revenue would be generated by tariffs to reduce the budget deficit? Peter Navarro often uses this as a justification for high tariffs. Other Trump advisors argue that tariffs are transitional to be used to leverage other things.
And we're the envy of the world?
Thousands want to come here to cut your grass. They aren't going to Argentina.
I'm glad thousands of people want to come here. What does that have to do with our $36T debt?
Nothing. Makes your lawn look better though.
The counterpoint is that Democrats will be increasingly overleveraged if all they're relying on is the economy imploding to such an extent that it affects more than the asset owning classes. The average person in the middle 10% of the wealth distribution curve doesn't have a 401(k) or a significant position in the stock market. If we go by the 10% tariffs on Chinese steel from recent years, those translated to a 1% to 2% actual price increase. The way the press is portraying the tariffs would have you think a 50% tariff translates to a 50% increase in consumer prices.
I'd wager older/wealthier people trended more towards Biden anyways, as they subconsciously voted for the only suitable platform Democrats could have won on but failed to emphasize - namely that having a vegetable for a president doesn't matter since all the important stuff is held together on autopilot by the administrative state. Trump doesn't have much to lose so long as consumer prices don't increase to the extent that people have been greased to expect, even with something like a 15% stock market correction.
Short term economic pain to all for long term economic benefits to the bottom 80% replacing the decades of short-term benefits for the top 10% and 1% over the long-term pain of the bottom 80%
People tend to respond to the here and now, and so the dip is expected.
Hard to believe how many radical progressive Marxist Left Democrat Party aligned drinkers there are on this website.