I don’t think we’re anywhere near the George W. Bush-style economic collapse of 2008 that elected a black guy. More pain will be required to convince the most racist, ignorant and innumerate among us that a different path is needed.
There’s more to go.
I’m closely monitoring the LIV Golf negotiations the President is hosting in Palm Beach, Florida today.
https://www.politico.com/news/2025/04/04/trump-golf-stock-market-00006830
intercst
Unlike 2008, this one was started with the stroke of a pen, and can end with the stroke of a pen.
Or ramp up the pogrom against the “others”.
Steve
Trump has backed himself into a corner. This is a religion for him. He isn’t going to back off unless forced to. More pain to come.
And his acolytes care more about worshiping him than care about the country.
All the digital ink spilled on the market dropping - all the news anchors warning of dire economic outcome while swaths of Americans out there that don’t have a brokerage account, don’t watch the news, and wouldn’t care if Apple closed down 70%. it won’t hit home with them for many many months. Someone on this board said it would take a 2x4 to the head. not even close yet.
At this point, his low info voters are not relevant. He doesnt need them any more.
What will matter, and what will have to happen are congress critters fearing the loss of their jobs more than they fear a primary challenge.
Money doesnt always win elections but the lack of such win certainly lose you one and if financial support bleeds away from pols, they might start to rebel.
Yep. It’s 67 votes in the Senate to convict on an impeachment. You’d need 20 Republicans voting with the DEMs. I think we’re a long way from that.
In a lot of these bright RED states, only a small portion of voters turn out for the primaries. You need the pain to be severe enough to reach this minority.
intercst
I don’t think so.
There has been some serious damage done, not only with adversaries, but with countries once considered close allies.
Loss of trust is not something that can be undone with a pen.
We’re in uncharted waters.
Remember that sharp V bottom the market put in, in March 2009? “Conventional wisdom” said there would be a consolidation period, then, after rising a bit, a retest of the bottom. Nope. People suddenly trusted the market, and piled in again.
Steve
I’m talking about something deeper than just the stock market charts. I still have money in stocks because I believe they will, at some point, come back.
But just undoing the tariffs won’t just undo the long-term harm they’ve caused.
I’m talking about trust and relationships with other countries. It appears that Japan and South Korea are starting to think that China is a more trustworthy partner than the U.S. Countries will form new partnerships if they think it is in their best interest to do so. If the world doesn’t trust us, will they look for a different currency to trade with? There are all kinds of implications that are not good for our economy and harmful to our national interests.
Domestically, institutions that help our citizens are being torn down. Billions of dollars are being withheld from states and programs on the whim of one person. I don’t believe many people think the current cabinet represents America’s best and brightest. This will have negative impacts on our lives. We appear to be headed for a recession and inflation - stagflation.
I understand the world changes. I don’t mind changes that are thoughtfully implemented. Some will work and some won’t. That’s OK. Humans are imperfect.
I do not believe the repercussions of all these actions have been carefully thought through or, honestly, even thought about.
Yeah, although over 60% own stocks, over 90% of stocks are owned by the top 10%.
We’re a long way from rock bottom.
True dat. It’s easy to see some, but others won’t become apparent until we’re feeling the impact. Many are saying that the first 100 days of this administration will go down in infamy.
And those dollars are being redistributed to that one person, and his wealthy cronies. Nothing new. This process has been going for over forty years.
Michigan example: when fuel taxes and vehicle registration fees were raised “to increase funding for road repair by $300M”, $300M of road funding, that had been coming from general revenue was withdrawn. So net, there was no additional road funding, but the withdrawl of the general revenue money helped cover another tax cut for the “JCs”. There was a promise made that, if the budget surplus became large enough, the general revenue road funding money would be restored. But, every time the budget surplus starts to increase, the drumbeat starts for another tax cut for the “JCs”, so the surplus evaporates, and there is never any money for road maintenance.
Steve
He still needs them to prop up his gutless, sniveling sycophants in the house and senate. My hometown went 79% Trump. If my high school friends (now former friends) are any indication, the Moron Army is willing to undergo lots of pain in order to teach the dirty furreniers not to mess with us. Sacrificing for the sake of MAGOO is an honor. The Dumb but Mighty are willing to march into the flames for the honor of the Great Cheeto chanting “They got the brains, but we got the numbers!” Suck it, libturds!
Of course, that is what they are saying now. Who knows what they will think when the price of a four-wheeler goes up.
Oh for half the country the stock market is irrelevant, or at least they think it is. The market could drop another 3,000 points Monday and it wouldn’t matter to them. They don’t have any stock in anything anyway. They’re lucky if they can make the paycheck last through Thursday.
They will notice when the cost of fruits and vegetables in the supermarket go up (remember eggs?). When coffee prices go up, they’ll notice. Wait for chocolate to go up and increase their favorite candy bar price, they’ll notice.
There will be a slowdown when a million former government employees can no longer afford luxuries and cut back. But they’ll really sit up when their friends - and maybe them - start to get laid off because “supply chain.”
Stellantis just laid off 900 in Indiana and Michigan, because they produce the transmissions and other parts for cars assembled in Canada, which (of course) are tariffed and therefore too expensive for their target market when imported back into the US.
In a letter sent to employees on Thursday morning, Antonio Filosa, Stellantis' chief operating officer for the Americas, said the company is "continuing to assess the medium- and long-term effects of these tariffs on our operations, but also have decided to take some immediate actions."
These included temporarily pausing production at some Canadian and Mexican assembly plants, affecting jobs at several of Stellantis' U.S. powertrain and stamping facilities, he said.
Some of this is happening now. More will happen next week. Even more next month, assuming the fools promoting this policy don’t reverse course quickly and decide they have to “tough it out.”
It’s gonna be good and hard, and it will accelerate and get gooder and harder with time. There seem to be no Republicans willing to stand up to these idiots, and few Democrats have even found their voice.
This is like watching the train coming down the tracks at you from 10 miles away, and you just stand there and watch it until it hits you square in the head. Then it qualifies as goodest and hardest, but by then it’s too late.
Those 900 work at Warren Stamping, and Sterling Heights Stamping. Those temp layouffs were announced the same time as the suspension of assembly at Windsor Assembly, across the river. So would seem that the stampings those people were producing were used in the minivans built in Windsor.
If Strabismus successfully converts those minivan prospects into buyers of Detroit built Grand Cherokees, those stamping plant people will be redeployed to increase production of Grand Cherokees.
Steve
I’m afraid I’m unable to see the conversion of a minivan buyer becoming a giant SUV buyer as particularly likely.
Goofy <— minivan owner. Wouldn’t have an SUV if you gave it to me.
Neither GM, nor Ford, feel any compulsion to offer a minivan. Pre-tariff, base price of the Pacifica and Grand Cherokee are just about the same. The cut rate Voyager starts at $39,995, Pacifica $42,450, Pacifica hybrid $51,055. Two row 4x2 Grand Cherokee Laredo starts at $37,035 three row: $39,035. Based on what it cost to move the old Cherokee from Toledo to Belvidere, it would cost the company $350M, and a year, to move Pacifica production to Belvidere. The current minivan has been in production since 2017. It’s very long in the tooth. Why pay to move it? Why pay to develop another generation minivan? vs running the Grand Cherokee lines they already have harder and faster, which would make them more profitable?
Steve…giving his MBA hat a workout today.
Dear Steve,
No it can not be. First it will take negotiations. Good luck.
Because the rest of the world has raised tariffs on us.
The rest of the world is seeking ways to lower tariffs among themselves.
They want to screw us now. Which is what he was worried about. Bit like how he manages to bankrupt repeatedly. It looks like he has not had any sleep for days.
It’s a matter of perspective. From my perspective, USian “JCs” have screwed over their employees, by sending production to Mexico or the Pac Rim. I have told the story before how Electrolux used, then threw away, the employees at an appliance plant in Greenville, MI.
But the administration can’t bite the “JC” hand that bribes it, so blames foreigners instead.
TIG spoke more clearly in 2016. In the Michael Moore piece I posted, which was then purged, Moore paraphrases TIG’s speech in 2016. At that time, then Ford CEO Mark Fields, was saying they would build a new plant in Mexico, to build the Focus compact, instead of building the Focus in Wayne, MI. TIG got up on that stage and called Ford out saying words to the effect “if you build that plant in Mexico, I will tariff those cars at 35% and no-one will buy them.”
Ah, the net is a wonderful thing. Found a piece of the speech, where TIG pointed his finger right at Ford Motor, and called them a “disgrace”.
Here’s a print report of the threat to Ford Motor.
“When that [Ford] car comes back across the border into our country that now comes in free, we’re gonna charge them a 35% tax. And you know what’s gonna happen, they’re never going to leave,” Trump told Fox on Thursday morning.
Working folks never heard that before. They have heard, from both sides of the aisle, the virtues of “free trade”, so they can get the stuff they want cheaper, without thinking about the other USians that can’t earn a decent wage, on a high school diploma anymore.
Steve
