@theMarket: 'Demolition Day' in global marketsBy Bill Schmick,
02:21PM / Friday, April 04, 2025 | |
Stocks fell to kick off the second quarter following the worst quarterly performance for equities in the past three years. The culprit was Wednesday evening's "Liberation Day" announcement of tariffs far worse than the markets expected.
By now, most readers know that the president not only levied a 10 percent tariff on all nations across the board, but he also added reciprocal tariffs to that total on individual nations. China was signaled out for the harshest treatment with a combined 54 percent total round of tariffs. In response, China announced 34 percent tariffs on U.S. goods.
As I warned readers last week, these tariffs would be 0 Comments
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The Retired Investor: Trump's Plan to Boost the EconomyBy Bill Schmick,
03:48PM / Thursday, April 03, 2025 | |
Transforming a government-heavy economy into one where the private sector leads not only takes time but also requires a period of detoxification, according to U.S. Treasury Secretary Scott Bessent. The idea that pain may need to come before any gains has caught the nation and the stock market by surprise.
Last week, I explained that "the administration's first objective, is to slow demand in the real economy. Keynesian demand-side economics says the best way to do that is to reduce spending. Doing so, they believe, will also slow inflation. How do they do that? By distributing less money to the greatest number of people possible. That means slowing wage 0 Comments
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