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| And we find out tmrand is really a hobby farmer/rancher.
just kidding.
Kevin O'Leary was on CNN, Monday night, extolling the stock market and its all time record high. A high stock market is mainly good for the investor class. The stock market may not be a good indicator of the underlying economy. Anyone remember the history of the roaring 20's? And what followed? Overall the stock market reflects a bet on companies ability to sell things. The general tariffs in place and future ones will be a drag on their ability to sell because of higher consumer prices.
"A survey published last week by KPMG found more than 80% of companies plan to hike prices in the next six months, and 73% said they have already passed on up to half of tariff-related costs to consumers. But that was still not enough to preserve earnings, as 57% of firms said their gross margins are falling." - https://fortune.com/2025/07/14/who-pays-for-tariffs-trump-tariff-cos...
More: https://thehill.com/business/5406292-businesses-tariff-costs-consume...
A detailed report: https://www.simon-kucher.com/sites/default/files/media-document/2025...
Taxes were raised, via tariffs, on the vast majority of Americans who buy things. This reduces their ability to buy things which will eventually show up in business's profits which will eventually bring the stock market down.
The tariffs on steel, aluminum did save some steel production jobs but many more jobs were lost among manufacturers who use steel. Tariffs can be a useful tool but they need to be used strategically.
A final thought, Republicans seems to have embraced Stephanie Kelton's ideas. She is the author of the The Deficit Myth and suggests deficits don't matter. | |
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I just wonder..
