“Remember tariffs are a tax, and they’re primarily a consumer tax,” Scaramucci added. It’s “a consumption tax, sort of like a VAT [value-added tax]. And that’s a regressive tax. So what ends up happening is the poor people — it eats up more of their disposable income than any other income group.”
“Tariffs are actually — we’ve had a lot of experience with them. They’re an act of war, to some degree,” Berkshire Hathaway (BRK-B) CEO Warren Buffett said in a new CBS News interview on Sunday.
Trump’s Global Reciprocal Tariffs aren’t going to put the US into a recession, Trump’s Global Reciprocal Tariffs are going to plunge the US and the rest of the World into the greatest Economic Depression since (coincidentally) the 1930’s. As night follows day. He’s blowing a hole in the bottom of the boat.
And even if he’s stopped, then global warming will really kick in (since we did fuck all to mitigate it) and civilisation as we know it now will cease to exist. Peace and prosperity will became alien concepts of a golden past.