But he illegally (without required notice period and specific reason provided to Congress) fired them right at the beginning of his term.
> are completely insane
More likely detached from reality, laser focused on personal gain, and punishing perceived enemies.
He owns his own social media stock (DJT), where he post this morning "THIS IS A GREAT TIME TO BUY!!! DJT" to his followers. Attracting more to his social media company.
He has a meme coin in cryptoland, and now via tariff manipulation, he can guide select people to place big bets on the largest derivatives market.
Grifter crypto scams aren't necessary when it's possible to fleece taxpayers directly.
What the hell is even going on
What if the Stock Market was entirely converted to Meme Stocks?
"Alright, I think people knew of the tariff pause and traded it beforehand ... "
Seems to show people knew it was going to happen a few minutes before he posted.
This is all so obviously dumb and I’m frankly astounded by so many people (especially here on HN) playing devils advocate or, I don’t know, honestly believing that this all makes sense.
Even if you agree with the stated (also somewhat incoherent, by the way) goals why do you think this implementation can achieve any of that?
Tariffs are appealing to him because they are incredibly forceful blunt instruments over which he alone has almost complete control. They give him immense, immediate influence over the entire world. What we're seeing is that the US President today, if the full capacities of that office are pushed as far as possible without violence, is arguably one of (if not the) most powerful human beings ever.
Beyond this, Trump has said that one of his greatest weapons is uncertainty. He wants to be feared. Having people genuinely afraid of you is the next step of power that he is already flirting with by posting videos of people being blown up in warfare on social media.
That's the true aim behind all of this constant course shifting. The ultra rich, those who have large amounts of liquid assets or outright cash, can make bank at the moment... buy the dip. Even if the markets dip another 20%, they'll rebound soon enough.
It's a good idea to hedge against future trade uncertainties.
After COVID some Danish and German companies began looking for non-Chinese alternatives for electronics manufacturing. The only area where China is the absolute better alternative is PCB manufacturing without mounting chips/components. The Danish and German companies get tens of thousands of these bare PCBs from China. The chips/components are from Taiwan, South Korea, the US, Italy, and Germany and can be cost effectively mounted in Denmark and Germany.
In the automotive sector alone - GM, Ford, and Stellantis all flipped the master breaker to "off" on a number of plants and sent everyone packing.
That hire-back will not be instant. People are going to miss payments for rent/mortgage, car loans, utility bills, etc.
Let's not forget that many companies hit the brakes, hard, on exporting goods to the US - so there's going to be the shipping equivalent of those traffic "waves" because two hours ago someone on the highway panic-braked
Still I'm sure I unintentionally missed many examples of people who've been negatively affected by this saga. I didn't mean anything by that, it's just ignorance or lack of thought on my part.
Let's not forget everything else he's doing because there is nothing good in the plan.
The hike will not be 10% on consumers. In most cases the seller will eat a good chunk of the cost otherwise it won't sell.
Take coffee, tea, or chocolate: Americans buy a ton of those, there’s almost no domestic production, and most of the market lives on tight margins. Trump’s tax hike means that the average consumer’s choices devolve to paying more or buying less.
If they raise prices by 10%, consumers will buy significantly less. There's a sweetspot somewhere for max profit, it's not 10% and probably not 0% either.
Coffee and tea are very cheap when you buy from a retailer and make it yourself, 10% is nothing anyway. Stuff like starbucks have crazy profit margings. Chocolate is a delicacy that shouldn't be consumed in large quantities anyway. That shit should have a 200% tax.
I know that with RSUs etc people treat it that way. But no the risk is real.
Yea, I want my president looking out for financial vultures leveraged to the hilt