cross-posted from: https://fedia.io/m/[email protected]/t/2006492
Fox News appears to have removed their DOW ticker in a pattern for the company, choosing to block out the steep drop in DOW points after Trump’s tariff announcement
cross-posted from: https://fedia.io/m/[email protected]/t/2006492
Fox News appears to have removed their DOW ticker in a pattern for the company, choosing to block out the steep drop in DOW points after Trump’s tariff announcement
Just in time for the next election
Last time (1930) it took down the US economy, you threw out the Republicans and President Hoover, and the Democrats under Roosevelt had to fix the mess, which finally happened about 1934. Since then it is textbook established that tariffs are a stupid idea, but sadly the only historical books the orange turd reads are “Mein Kampf”…
This modern tariff-induced catastrophe is different from the one in 1930 in one important aspect: Back then, the reliance on foreign trade was way, way smaller than today. If the Smoot-Hawley Tariff Act of 1930 put the US into a serious recession (with still lower tariffs than Trumps!), guess what will happen today in an America that cannot produce screws, bolts and nuts; transistors, resistors, and capacitors; and about every piece of mass-produced item, being it plastic, metal, or whatever.