A Backlash IS Coming
As I write this, the NASDAQ is down over 4 percent with the world’s largest companies shedding between five and ten percent of market cap. While this is happening, consumer sentiment reached a brand new low, according to the New York Fed, as China and Canada announced new retaliatory tariffs this morning.
A backlash is coming. The same voters who swept the Democrats out over kitchen table issues in 2024 are watching prices go up as their 401(k) gets hammered. But even if it takes a while for the benefits of tariffs to kick in, Republicans have one key advantage and should use it immediately. Watch:
I hate losing money short term but we’ll be in far worse shape as a nation if we don’t close the deficit and get our budget under control. There was always going to be a backlash but the GOP can get ahead by not only doing what you suggest but pointing out that home sales have been grinding to a halt for years, auto repos have been increasing for years and credit card debt and interest has been climbing for years. Reagan inherited something very similar and a little short term pain led to 20-25 years of growth. Until the banks of course got too greedy…
Yeah but…….. being the geezer that I am, my retirement that I’m currently using plus the prices of every day living……….
I sort of understand what Trump is doing and I’m really in his camp so far. So I guess I will just tough it out and make do. God willing and the creek don’t rise America will be great again for our children and grandchildren. Thank you Mr. Erickson