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:
Talking points went out, I see. I noticed the Democrats were beating the recession drum and tariff drum just like you, Erick. As always, change is resisted in favor of security. Do you not think that Trump and team has a strategy? It's been two freaking months and it's already gloom and doom. Can we not sit still and wait to see what happens instead of running around like Chicken Little saying the sky is falling? We desperately need Rush Limbaugh right now and his unfailing optimism to counter all you sad sacks. Trump is attempting to change the way we're doing things in regards to trade, in the regards to so many other things. Change takes courage. Now, I'll be the first to say I don't like how my investments are taking a beating right now, especially when I'm on the cusp of retiring, but I'm willing to give it a chance before I get all weak-kneed and start wringing my hands. I'm willing to wait and see because I LOVE the draining of the swamp. I understand that there will be pain before it's morning in America again, and if there is no morning, then I'm trusting my God because no matter what you want to say - God, by saving Trump's life in Butler, PA, put him where he is today. Whether it's for good or bad, it's God's plan, and I'm ok with that.
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…