Professor Jeremy Siegel of the Wharton School considers President Trump’s recent tariff policy a major mistake, potentially worse than the Smoot-Hawley Act. These tariffs, including a 10% baseline tariff and significantly higher rates on specific countries, have already triggered market downturns and retaliatory measures from China. Siegel predicts a heightened recession probability exceeding 50% if tariffs persist, though he anticipates a slowdown even if they are removed. He further forecasts lower interest rates and higher inflation as a consequence.
Read More
President Trump’s imposition of widespread tariffs, touted as a powerful economic tool, is instead causing significant economic hardship. Rising prices, plummeting stock markets, and job losses are resulting from this trade war, impacting both allies and adversaries. This economic downturn directly contradicts the administration’s claims that tariffs would boost U.S. manufacturing and create jobs, as experts cite automation and higher production costs as major obstacles. Republicans, having voted for Trump, are now facing the consequences of this self-inflicted economic crisis.
Read More
The U.S. stock market has wiped out $9.6 trillion since Inauguration Day, a staggering figure that reflects a significant downturn in the economy. This massive loss represents a considerable portion of the overall market value, impacting investors across the board.
The extent of this decline is truly alarming, representing a dramatic shift in market sentiment and potentially signaling a broader economic slowdown. This loss isn’t just a number; it translates to real consequences for individuals and families whose retirement savings and investments are tied to the market.
It’s easy to get lost in the sheer magnitude of the figure. Nine point six trillion dollars is a sum so large it’s almost impossible to comprehend in everyday terms, yet it represents a tangible loss for millions.… Continue reading
In response to new U.S. tariffs, China’s Finance Ministry announced a 34% tariff on all U.S. imports, effective April 10th. This action, deemed a violation of international trade rules by China, follows the U.S.’s imposition of additional levies totaling 54% on Chinese goods. Furthermore, China added 11 U.S. companies to its “unreliable entities list” and implemented export controls on several rare earth elements. These retaliatory measures underscore escalating trade tensions between the two nations.
Read More
Trump just imposed the largest tax hike since 1942 without congressional approval, a move that has sparked outrage and raised serious constitutional questions. This unprecedented action, disguised as a series of tariffs, effectively functions as a substantial tax increase on consumers, impacting the working class disproportionately. The sheer scale of this tax hike is staggering, comparable to actions unseen since World War II.
This isn’t simply a matter of fiscal policy; it’s a blatant disregard for the fundamental principles of representative government. The very idea of taxation without representation, a cornerstone of the American Revolution, is being resurrected in a modern context.… Continue reading
House Democrats sharply criticized Republicans for supporting President Trump’s reciprocal tariffs, which followed the announcement of the “Make America Wealthy Again” initiative. The DCCC highlighted the potential $5,200 annual cost to American families, citing a Center for American Progress report that disputes the tariffs’ purported benefits. Democrats accused Republicans of prioritizing party loyalty over economic consequences, framing their support as complicit and cowardly. This follows earlier criticism of the Trump administration for negatively impacting the stock market, contrasting it with the strong market conditions under the Biden administration.
Read More
President Trump announced sweeping, economy-wide tariffs on imported goods, claiming they are reciprocal and a form of national liberation. However, economists and critics widely condemned the action, arguing the tariffs will raise prices, harm consumers, and negatively impact the global economy, offering no real benefit to American workers. The move was described as reckless and unpopular, potentially pushing the economy into recession and enriching only the ultra-wealthy. While some acknowledge the strategic potential of tariffs, the current implementation is viewed as chaotic and lacking the necessary supportive policies.
Read More
President Trump’s announcement of sweeping tariffs triggered a significant sell-off in US and Asian stock markets. Dow futures plummeted over 1,100 points, while major Asian indexes experienced substantial drops exceeding 2%. Tech giants like Apple and Tesla led the decline in after-hours trading, reflecting concerns about disrupted supply chains and increased costs. Analysts described the tariffs as “worse than the worst-case scenario,” anticipating negative economic consequences including inflation and slower growth.
Read More
Republicans are increasingly anxious about a potential midterm wipeout, fueled by a perfect storm of economic woes and self-inflicted political wounds. The party’s current trajectory suggests a significant electoral setback is not only possible, but increasingly probable. This anxiety is palpable, with whispers of a need to return to “pocketbook issues” replacing the overt culture war rhetoric that has defined recent years. However, actions taken so far contradict this professed shift, indicating a deeper, more intractable problem.
The economic landscape is shaping up to be particularly brutal for Republicans. Stagflation, coupled with rising unemployment and a potential deep recession, paint a grim picture for the party that once claimed to be the champions of economic prosperity.… Continue reading
President Trump announced sweeping new tariffs, including a 34% tax on Chinese imports and a 20% tax on European Union goods, aiming to address what he termed a national economic emergency and bolster domestic manufacturing. These tariffs, levied under the 1977 International Emergency Powers Act, represent a significant escalation of trade tensions and risk triggering a global trade war. The move is expected to increase prices for consumers and potentially cause a global economic slowdown, despite the administration’s claims of increased revenue and job creation. Experts warn of severe consequences, including potential recessions in multiple countries, and bipartisan criticism highlights concerns about the lack of congressional approval and potential negative impacts on the U.S. economy.
Read More
John Q. Hosedrinker 
Matt Underwood