...as a point of reference the peak to trough on the '22 drawdown on the Nasdaq was 35%, and that was all the Fed hikes to stamp out inflation.
A lot of folks thought the culprit for inflation was the size of the federal deficit. The US was starting to hit its speed limit for debt issuance as the coverage ratios at the treasury auctions were decreasing to worrying levels.
Cutting govt spending is their idea to drive down inflation. Tariff inflation is considered a one off, and the Fed has lots of altitude to cut rates from the latest hiking cycle.
I'm not saying it's right.
How does that explain every other country also experiencing excessive inflation? The answer is simple, it was the pandemic. I don't know why people keep hunting for things to blame that inflation wave on.
Who is going to step up and be the next Luigi Mangione.
These guys have caused more misery than any of the biggest financial frauds in US history. If they were regular civilians they’d be doing twice what Madoff got.
These guys are clearly evil, and are really tapping into the desire to be gleeful about punishing others. They argument against getting the guy they illegal deported to El Salvador (at least the one guy we know about), is that since El Salvador is a separate country, they can't be compelled to return anyone, and the guy was a gang member anyway, even though they have no proof.
One of the things I fear most about the American economy tanking is the scapegoating that will take place. Trump and his sycophants will do anything to shift the blame and I'm afraid his true believers will direct their wrath anywhere but in his direction. I'm afraid the levels of xenophobia and anti-semitism this might spur are going to lead to some incredibly dangerous times.
Haha, a MAGAt on Twitter (don’t hate me) today said Trump’s genius will soon be proven when the tariffs and other economic strategies turn the economy around, enable the elimination of taxes and (I forget the other absurd claim).
Haha, a MAGAt on Twitter (don’t hate me) today said Trump’s genius will soon be proven when the tariffs and other economic strategies turn the economy around, enable the elimination of taxes and (I forget the other absurd claim).
Elimination of taxes is never a good thing.
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Watching the Oilers defend is like watching fire engines frantically rushing to the wrong fire
The idea is that tariffs will replace taxes for government income. Except citizens end up paying it anyway, and the tariffs are too low to make up for the loss of income taxes. Plus, you know, the whole global market meltdown.
