It would appear that the only thing that Trump liberated yesterday was more value out of investments.
As of almost 10 am Eastern time, the major US stock indices are all down 3% or more.
Via Fox Business News:
And just to demonstrate the North Korea-esque nature of our current administration, we get this (source: CNN) from the White House Press Secretary.
“To anyone on Wall Street this morning, I would say trust in President Trump,” Leavitt said. “This is a president who is doubling down on his proven economic formula from his first term.”
Sure. That’s how all of this works.
If these measures stay in place, and note that the main hope is that this is all some kind of bluff,* this could end up being one of the biggest self-owns in the history of the world.
Wrecking the US-European military alliance, destroying the rules-based international system, and removing the US as the main driver of the global economy will make America weak, not great.
I marvel that anyone thinks any of this is a good idea.
And while many people tried to warn American voters, here we are.
*Think about it: if your main hope is that the person you support isn’t really going to do the crazy-ass thing they have been promising and are actively doing, then maybe, just maybe, you shouldn’t be supporting this guy. And (spoiler alert!) this isn’t going to bring about some new mythic golden age of manufacturing.
