President Donald Trump lashed out at a reporter who asked how much economic pain he would be willing to tolerate as his tariffs wreck the stock market.The president returned Sunday evening to Washington, D.C., as U.S. stock futures plunged, indicating more market turmoil ahead, following two days go...

Summary

Trump snapped at a reporter who asked how much economic pain he was willing to inflict amid plunging markets triggered by his new tariffs.

Speaking after a weekend at his Florida resort, Trump dismissed speculation he was trying to crash the market, claiming tariffs would bring in “$1 trillion” and spur U.S. manufacturing.

When asked about a pain threshold for Americans, he called the question “so stupid,” arguing economic “medicine” was necessary to reverse decades of “stupid leadership.”

He insisted the strategy would make the U.S. “solid and strong again.”

  • sp3ctr4l@lemmy.zipEnglish
    3·
    7 hours ago

    Britain always had bad news about the EU in the newspapers. Their population was never fully committed so it was possible to create a majority against the membership.

    Cool, Brexit was still a disaster.

    Likewise US companies will regularly discuss what they will do when China is going to overtake them. That moment has come. I don’t believe in the coincidence that the US is doing its biggest blunder at the most crucial time of their history.

    Overtake is a gradual, predictable process.

    Suddenly putting roughly 30% tariffs on the entire world in a very sudden and chaotic matter is not even in the same galaxy as US corporations making business plans based on predictable market trends.

    We are making a blunder because we became decadent, entitled, and privileged, and aggreived and then fell under the allure of an incompetent fascist, who, again, is a fucking moron at policy.

    Of course, the strategy can be that half the workers are fired, but with the expectation that they are hired by somebody else.

    … What? If everyone is firing, no one is hiring.

    This is called a recession or depression.

    Lose your higher paying job and maybe replace it with a shitty part time job.

    Net result is everyone is poorer.

    … If you wanted to kickstart making new manufacturing jobs in the US, well you’d need actual money to build the factories.

    If the entire economy crashes, no one, no companies, have money to invest in new capital expenditures. Foreign investment won’t come because exporting out of the US will be a shitty prospect due to retaliatory tariffs, and the general lack of a skilled manufacturing labor force in the US.

    There would have had to have been some kind of accompanying domestic fiscal policy to throw government money, subsidies, tax breaks, whatever to kickstart domestic manufacturing… before you throw the tariffs on.

    But Trump is an idiot and is ideollgically opposed to the government spending money on seemingly anything other than bitcoin and explosively liquifying brown people in ‘removed’ countries (his words).