Great Depression 2.0
Which will win: Environmental collapse? Agricultural collapse? Or economic collapse?
I just witnessed the biggest policy error of my 23+ year career. Arguably, this is the biggest self-own since the Great Depression.
On Wednesday, the genius-in-chief announced sweeping, massive tariffs on dozens of countries. The rates vary, but overall we're looking at roughly 35% across the board on all imports into the US. Individually, they go much higher. China's combined tariffs are now 54%!
It seems like the race is on. Which will win: Environmental collapse? Agricultural collapse? Or economic collapse?
Tariff rates as of Wednesday's announcement rival those of the Smoot-Hawley act that helped accelerate the Great Depression.
This is authoritarianism in action. Despite 99% of economists agreeing that tariffs - especially such aggressive, wide-ranging tariffs - are no good for the economy, they all bent over so the golden calf could make his "liberation day" announcement.
A bunch of yes men and women crowding out intelligence and experience. This is the public illustration of what's happening behind the scenes in every government department across America.
THOSE IN CHARGE DON'T KNOW WHAT THE FUCK THEY'RE DOING.
Not only is this apparent by the imposition of trade restrictions. It's also clear in how they calculated the tariffs foreign countries impose on US exports. What they're calling a "tariff" on US exports is actually the trade deficit as a % of imports. In other words, foreign governments aren't necessarily taxing American goods. Rather, American simply want to buy the goods produced by that foreign country.
The point is the "rationale" behind the tariff rates inflicted on Wednesday is nothing but witchcraft and tea-leaves that no educated human would consider rational. Again, if this is what they're showing us in public demonstrations of their "prowess" what are we not seeing behind the scenes.
This catastrophic mismanagement of government is putting us on the path to economic collapse.
The irony is that if these ridiculous tariffs cause a Great Depression 2.0, the anti-environmentalist administration might actually give the environment a some breathing space.
Business as usual is carrying us to our demise. Perhaps destroying the economy - however it's done - is what is necessary to slow environmental collapse. Even if completely by accident.
By creating a depression, the "elite" wish to create desperation and total subservience. By creating agricultural collapse along with eliminating environmental and health protections, they create death. It's ironic that the most concerned minds on climate and overshoot agree the planet is unsustainably overpopulated because it appears psychopaths have a plan to do something about it.
In theory, it didn't have to be this way. There are plenty of people who wish to help others and lead us to a rational, equitable way of living together. This would include sharing, consuming less and improving as a species. Population, always a heated topic, is not the only problem. We are taught to be greedy and hateful. We're mostly not born that way. Tragically, those who would promote egalitarian ideas and policies are ill-equipped to fight monsters.
April 5th, the WSJ wrote that the market melt down shows “there is no place to hide”. Agreed. They also quoted the financial advice, which is standard, “don’t panic, keep an eye on the long term.” Me thinks these savy investors are scared shitless because they see there is no long term. The jig is up.