Donald Trump has announced a “Tariff War” against China, as the primary target, but also against most of our trade partners.
In so doing, he is guaranteeing a disastrous economy down the road.
In 1930, Herbert Hoover went along with the Smoot Hawley Tariff, and it helped make the Great Depression, which has begun months earlier, become an ever greater calamity.
But Donald Trump knows nothing about Herbert Hoover, and nothing about the effect of “tariff wars”.
So expect economic calamity, including American agriculture unable to sell their products overseas, causing a massive farm depression.
And expect that businesses will be harmed, and will start to raise prices, and those will be passed on to the consumers, all of us.
We will be paying a lot more for food, clothing, technology, and industrial goods of all kinds.
Also, many businesses, if they lose revenue, will lay off tens of thousands of workers, causing a massive rise in the unemployment rate.
And just today, the stock market reacted by losing nearly three percent, and dropping 724 points, and this will not be a one day phenomenon.
Donald Trump is destroying the revived and prosperous American economy accomplished by Barack Obama in his eight years in office.
It is almost as if he is purposely doing everything he can to wipe out the memory of our first African American President.
We have a very sick, demented President, and the nation is suffering, and will suffer ever more until he forced out of the Presidency, and it cannot come fast enough!