A Black Wednesday for the World Trade

Bye-bye Toblerone

Day of Liberation, so called it Trump. The European translation reads Day of Despotism.

Trump's tulips are watching their master's ceremony

The tariffs announced in the Rose Garden of the White House will restrict exports to the US and make imported goods more expensive. The logical consequence iś that consumer prices will increase in the United States.

Most economists predict the new tariffs will lead to more bankruptcies and rising unemployment figures in many countries. The tariffs could plunge the world into a dangerous trade war in which there will be only losers.

This view is not shared by Ms. Miller Wellington, who sells candies in Delta, a village of around 3000 people less than 100 miles south of Detroit. She is unfazed by the possibility of price increases predicted by most economists. "Sometimes you have to walk through fire to get to the other side," she says, echoing the president's main argument: "If tariffs bring companies and business back to hard-working people like the ones who live here, then it's worth it."

The Washington Post writes," Wall Street worries Trump tariffs could wreck the souring economy." 

Let Stephen Colbert enlighten us: 

"And Trump's toadies are out there defending the tariffs. Here's Louisiana Senator John Kennedy on FOX Business arguing that ultimately nothing is knowable, 'The truth is that nobody knows. I've listened to economists for the last month. Some say this will cause a recession; his tariffs will cause a recession. Others say it will cause growth. In my eight years in Washington, I've learned that for every economist, there's an equal and opposite economist.'"

(Laughter from the audience) And Stephen continued, "Sounds crazy, but it is actually true. For example, Milton Friedman was always opposed by the equal and opposite economist Friedmil Manton."

"Most experts dispute the idea that these tariffs would lead to any growth at all. Instead, they say we could be looking at a prolonged recession, higher prices, and higher unemployment. Okay, a little more practice. Man, awww, damn, these grapes smell like wrath."

The Dow Jones Industrial Average plunged 2,200, and the S&P 500 tumbled 6% as Wall Street's worst crisis since the COVID crash deepened after China matched President Donald Trump's big raise in tariffs announced earlier this week. 

Still, leaving Washington to watch a golf tournament at Mar-a-Largo, the "stable genius" claimed in one of his chopper talks:

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To be continued ...

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