Red Alert: Stop Buying Now!
Keep your money in your wallet, things are about to get rough
So, Trump dropped his new tariff plan yesterday, after the markets closed.
Today, the markets opened to the news that the United States’ economy was committing suicide on the White House lawn.
As I’m writing this, the Dow has already dropped by 1,400 points and it is still going down—it’s still morning in Wall Street. I’m dreading to see what’s going on by the afternoon.
This is bad. This is worse than a lot of people might realize.
This will impact retirement savings, investments, basically anything to do with the stock market—and on top of that, the tariff situation means that the cost of literally everything you buy is about to go up astronomically. He’s slapping 50% tariffs on some countries on that list, and they’re major sellers on the global market.
The American economy is crashing hard, and it will cause one hell of a shock wave.
If you have major purchases coming up, no you don’t. Save your money now. Save cash if you can.
This is bad, guys. It could get really, really bad.
Solidarity wins.
I have only the barest understanding of economic theory and international trade, but even I could see this coming. If I could make use of a somewhat rude metaphor Trump decided that he could punish nations he didn't like by pissing into the wind.
You're right, this is a disaster for everyone across the world and it's only going to get worse. I have slowed my roll with major purchases for the time being as we watch the chaos unfold. I am hunkering down from here on out. Trump just made the world a more dangerous place.