We are well beyond the the gold standard understanding of inflation Friedman based most of his economic thinking on.
I don’t know about a shooting war but yea a new world by summer if these tariffs and retaliatory tariffs continue.
We're in a shooting war, because economics. Nearly $1 billion spent on missiles shot into Yemen, to kill a couple of guys, because they're shooting at ships supplying the Israeli genocide in Gaza, which the US is supporting to keep Fort Israel open and access to ME oil & gas assured.
One woman blogger remarked that rich people love these huge corrections because it gives them the opportunity to buy company shares at bargains. These so called trade wars could end faster when those hit the hardest by the tariffs, wake up to their senses. If not, those countries will pay a heavy price. A lot of countries now talking with US to resolve those burdensome tariffs. All they have to do is cut or totally eliminate tariffs on US goods. Since, it is reciprocal, US will respond in kind.
Europeans have been imposing tariffs on US goods for a while now. Now, that they are being tariffed, they are crying like little babies that they are. Chinese tariffs in retaliation for their tariffs on Chinese electric vehicles, tariffs on French Cognac and Italian luxury goods should take a huge hit too. It gets worst for Europe because their European NATO proxy war in Ukraine is draining their coffers. Now, they are talking of taking the retirement accounts of Europeans to fund the proxy war in Ukraine.
Wow...some pension funds and retirements for Americans were completely wiped out today...5 trillion dollars gone. Trump is now blaming FED Chairman Powell and not his tariffs that other countries are hitting us with retaliatory tariffs. https://www.cbc.ca/news/world/china-tariff-response-us-1.7501860 Now analysts on Bloomberg are saying if Trump messes with the FED for a problem that Trump created, it could result in a global financial disaster especially if China hits us with more retaliatory tariffs. Only the rich get richer from shit like this including the Chinese who swoop in to buy more U.S. properties/businesses when it becomes cheaper...similar to what they did (buying up U.S. Treasury Securities, real estate and sports teams) after the 2008 financial crisis. Looks like China prepared and smart up from Trump term 101. China are now presenting themselves as stability for the world while showing America as the ones causing instability. Markets haven't seem this much bullshit since March 2020 of the Pandemic and billions of dollars in M&A and IPO investments put on hold today...paused indefinitely. In the meantime, NASDAQ officially fell into a bear market today and recession probability for a recession has gone UP to above 50%. Ted Cruz is now warning (changing his tune) that if the United States hits a recession and there's more tariff war...it will be a stunning wipeout of the GOP in the mid-terms. Brewing companies are now saying they are on the brink of going out of business. Some already closed shop when Canada stopped being their customer. #chaos #triple-whammy-friday wrbtrader
Trump Napalms market. Smells like...VICTORY, Then again, maybe not. Apocalypse Now intro: The Doors, The End {1979}