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There's been some events happening over the past couple of days, liney. I know news takes a week or so to reach Owosso so I'm giving you a sneak peek in advance.
If you don't want to read about it then share more stuff about NCAA Women's swimming or Hunter Biden. You know, stuff that REAL Americans think are the most important issues of the day.
As I said, .. rant on ...if it makes you feel any better.
In Owosso not much has changed since the Reagan administration. We're still paying high taxes, we're still ignored by our leaders, we pay high grocery and gasoline prices, our kids attend substandard schools, ran by incompetent school boards and administrators. And nobody, .. from Bush 1, to Clinton, to Dubya, to Obama, to Trump 1, to Biden, and again to Trump has changed anything, nor will they ever change anything. Politics is never, ever about "what's best for America". Its about power, and who wields it. For now, its the Republican's turn. I don't expect anything better than when the Democrats had it all. I keep my expectations low, and that way I'm never disappoiinted.
So .. as I said, .. rant on. There are less than a dozen regular contributors here, and if you think your rants can make a difference in the world, then rant on....
Right before sweet potatoes are mashed, they get very quiet. This is known as the silence of the yams
I'm not hoping to change anything really. I just want the MAGA voters here to bear witness to what they voted for. To not simply talk about Joe Biden and women's sports (as if any of you really care) for the next 4 years while diverting your eyes from the current shitshow.
Look people, that trillions of investment dollars have been wiped out as a result of negative sentiment about the global economy, is a real shocker to those that do invest in the markets. From the Motely Fool:https://www.fool.com/research/how-ma...4480%20billion.
About 162 million Americans, or 62% of U.S. adults, own stock.
The top 1% holds 50% of stocks, worth $23 trillion.
The bottom 50% of U.S. adults hold only 1% of stocks, worth $480 billion.
It should surprise no one that consumer sentiment has plummeted. The reality is that the big hits to investment holdings were sustained by the top 1% of people that hold stocks. The rest, including the folks that don't invest, aren't feeling immediate pain. They might as the economy and spending contract as they are predicted to do but were not there yet and won't be for a while.
There are those that are arguing that the market was over-valued and due for a correction. Trump's tariffs catalysed it. Those who are invested in risky assets are going to pay a much higher price in immediate pain than those who are properly positioned with their investments to deal with this kind of volatility. I'm not a fan of Trump's approach to tariffs but I also see his endgame even though most analysts don't think Trump's endgame goals (the two I've repeatedly mentioned here) are achievable. Because I'm a glass half full kind of person and will listen to both supportive and contrary arguments on the subject of tariffs, my take within the first 72 hours or so of "Liberation Day" is hold on to your ass. You may not like the ride and it's likely not over but your world is not coming to an end.
Mission to CFB's National Championship accomplished. But the shine on the NC Trophy is embarrassingly wearing off. It's M B-Ball ..... or hockey or volley ball or name your college sport favorite time ...... until next year.
I'm not going to be looking at my 401k any time soon. I assume it's down close to 10% over the past 2 days like all the major indices.
If the tariffs are all still in place in early summer I think that's when the real pain will begin. By that point auto dealers will have cleaned out their inventory and people will notice big price hikes. Auto dealerships are already encouraging people to buy a car asap. It could come sooner for consumer goods, I'm not sure how fast they burn through inventory.
"It's not going to be great but the world's not ending." Not exactly a high standard there, to be honest.
Some MAGA influencers already adopting vaguely Marxist slogans. "Learn to live with less. Losing money builds character. Sacrifice for the common good". Definitely a slow pivot away from explicitly denying that tariffs raise prices to of course they raise prices and you should be happy about that.
This is unfortunately behind a paywall. Pittsburgh-based Howmet Aerospace supplies airplane parts for most commercial airlines and a lot of military aircraft too. The apparently sent out a letter to their customers declaring the tariffs a "force majeure" event that allows them to void any contracts they may currently have (I presume because they may need to raise prices now).
I admit the 401K is painful to look at but been expecting it for a long time in the fake shitshow economy. Going to get worse before it gets better but maybe for the good.
This is unfortunately behind a paywall. Pittsburgh-based Howmet Aerospace supplies airplane parts for most commercial airlines and a lot of military aircraft too. The apparently sent out a letter to their customers declaring the tariffs a "force majeure" event that allows them to void any contracts they may currently have (I presume because they may need to raise prices now).
The decline in manufacturing as an employer began right after WWII ended. Free trade agreements are not the primary reason why. It's because human workers have gradually been replaced by machines and productivity has constantly improved. Fewer workers don't just do the same amount of work, they do more.
Tariffs cannot both raise enough revenue to balance the budget and force us reshore all our industry. Both things cannot happen at once. They are completely contradictory goals. Reshoring industry means we're buying very few imports. Buying very few imports means they can't generate revenue. Regardless of how I feel about the strategies, you can only pick one.
Why are affordable consumer goods a bad thing all of a sudden? Why is it critically important that Huggies diapers all be made in the United States?
Or, why don't we open the market for the Chinese EVs that sell in China for $ 13,500? Imagine how that would lower the cost of living in the US.
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