Saturday, May 31, 2025

Trump chaos has already damaged the economy. It may be too late to fix it

 https://edition.cnn.com/2025/04/23/business/trump-tariffs-fed-damage

Forecasters broadly say there is an elevated risk of a recession this year — perhaps as high as a 50% to 70% chance. Virtually all note those odds are in flux because of Trump’s ever-shifting tariff agenda.

Even if all of the Trump 2.0 tariffs were unwound today, the US would still lose at least 1% of GDP just from the policy uncertainty, said Kent Smetters, professor of business economics and public policy at the University of Pennsylvania’s Wharton School. “We are projecting that GDP will eventually fall by 5% if all the tariffs are implemented.”

“The US-Canada trading relationship is profoundly damaged, and will be forever,” Wolfers said. “It’s made it politically impossible for Canada to be pro-America … That damage is done.”

2 comments :

  1. Trump is chaotic and has no real plan or policy

    ReplyDelete
    Replies
    1. On the contrary, he has a bold plan.
      According to various outlets (that lie through their teeth but let's pretend), Trump's wealth is built on a foundation of debt. He's actually bankrupt but has found a way to keep borrowing to prevent the actual foreclosure on everything he owns.
      So his plan is to ensure that his family takes advantage of the opportunties he's throwing them and makes billions so he can pay off his debts in 2028.

      Delete

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