WDDDDT? #47 AKA ERROR #2: “MAIN STREET”

April 9, 2025: DAY 80 of 100

   

Bob Seger sang it clearly…

Sometimes even now, when I'm feeling lonely and beat

I drift back in time and I find my feet

Down on Mainstreet

Down on Mainstreet

Down on Mainstreet

   Our fearless leader, THE GREAT MANIPULATOR stated he favors MAIN STREET over WALL STREET but I tend to doubt this. We are on Main Street screaming for some clarity from him and at the same time so is WALL STREET. WTF are you doing, Sir????

   The Wharton School Graduate (Class of 1968) kicked his friends in the balls to see how they will react. Well, China, the world’s second largest economy, and the only superpower capable of challenging the United States economically, technologically and militarily, not truly a member of the “friends” group is taking a baseball bat (84%) to the fight asking politely, “you wanna fuck with me, I’ll beat your ass”. And they probably can. Meanwhile, listening to China the European Union thought this “retaliation” might be the way to protect themselves from another groin kick.They implemented a $23 BILLION in retaliatory tariffs on US good…it ain’t over folks…the “fun” has just begun. You think just your IRA is tanking, wait until the prices on Main Street go way up.

   Over on WALL STREET, Jaime Dimon, head of JP Morgan Chase said it best last week, “America First is fine,” referring to THE GREAT MANIPULATOR’s description of his policies, “as long as it doesn’t end up being America alone.” I’m starting to feel alone.

While the self proclaimed “ boss of everyone and everything” responded on TRUTH SOCIAL…“BE COOL!”. “Everything is going to work out well. The USA will be bigger and better than ever before!”. His best line was “I know what the hell I’m doing.” I doubt that…Isn’t he the same guy who went bankrupt in Atlantic City and a few other places??? If these retaliatory tariffs morph into a trade war with China, our allies Japan, South Korea and the European Union  are in no mood to help manage China.We are on our own there.

   The tariffs went into effect (April 9) on 60 trading partners based on bilateral trade deficits, or the gap between what the United States sells to each country and what it buys. That’s simple enough math for me to understand. But is it economically sound one might ask. Many economists do agree with the #47 administration that America’s overall trade deficit with the rest of the world reflects a problem for the U.S. economy. With the USA so dependent on manufacturing elsewhere (China) the trade deficit was 1.2 TRILLION last year, a new record.Focusing on individual nations imbalances can be highly misleading. In 2024 The US had surpluses (World Bank Data) with 116 nations while maintaining deficits with 114 countries. These tariffs are calculated simply by dividing the trade deficit by the value of goods the U.S. imports from that country. If it doesn’t balance out that country will face additional tariffs, over the 10% already imposed. 

   This formula forgets that some countries are better at making certain products that the American people desire or nations providing us with advanced technology, toys, cocoa beans or corn.The tariffs and the administration will be looking at the loopholes whereby some tariff heavy nations (China for one) have been able to move goods through third counties to get into our market.

   So, where do we go from here??? I ask again, “What’s the plan, what’s the vision???”

   But wait a minute. He, THE GLOBAL DISRUPTER blinks…

Oh, Ye, gentle mistresses and most distinguished gentlemen, and others… The opinions and observations are solely my own views, and I take full responsibility for any errors of fact, not to mention any predictions that prove to be wildly inaccurate.