Today, April 2, is the day that Donald Trump will reveal the extent of his Tariff “Wars” against the world, including not only China, Mexico, and Canada, but also our NATO allies and nations we are allied with in Asia, as well.
An economic disaster is ahead, as economists have warned against such lunatic action as putting tariffs on all kinds of economic activities.
History tells us what happened when Herbert Hoover imposed tariffs in 1930, despite admonitions by hundreds of economists, signing the Smoot-Hawley Tariff, which helped to make for the horrors of the Great Depression of the 1930s.
Economists now predict that America will witness a severe recession, as more Americans lose their jobs, not only federal workers who are being fired enmasse, but also ordinary Americans who will suffer from lower economic activity, causing bankrupties of businesses and massive layoffs in many industries, as sales decline rapidly.
But also, it is predicted there will be high inflation, with the excessive increase in costs of all kinds of goods as other nations raise tariffs in reaction to our raising of tariffs.
So we are likely to have the worst possible combination of high unemployment and inflation, which is what is called “stagflation”.
This is what Donald Trump is bringing us, when he promised lower prices on “Day One”, and the stock market just had its worst quarter since the height of the COVID 19 Pandemic in 2022!
With his Rose Garden speech just concluded, Trump is causing a major decline in the stock market, which will be fully revealed on Friday!