A credit-rating agency reported Thursday that President Donald Trump’s proposed tariffs could slow economic growth, increase inflation and push up unemployment.

  • TheCriticalMember@aussie.zone
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    6 hours ago

    So, all the things they already said before the election in which a significant portion of Americans voted for him because of economic and totally not bigotry related reasons?

  • kava@lemmy.world
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    6 hours ago

    i wonder if it’s all just a big show. he threatened tariffs to mexico and canada. when canada said “ok bro fuck you too” all of a sudden they come to an agreement to delay. similar story in Mexico. in a few weeks he’ll say “i got the best deal out of the history of deals. Mexico and Canada are gonna pay their fair share” and people will forget about it to focus on the next ludicrous thing he says

    i wonder if it’s gonna be the same with the deportations. something like 5% of the workforce is illegal. and they are highly concentrated in specific industries. it would wreck havoc on those industries and the economy as a whole. it’s really hard to understate. something like every 100 illegals deported causes something like 18 jobs to be lost according to research from Iza based on Obama’s radical deportations. (Obama’s 1st and 2nd term both deported more than Trump’s first term)

    i read an analysis by an economist the other day, the deportations alone could reduce lead to the GDP shrinking by something like 3%. keep in mind the housing crisis back in '08 led to a 2.4% decrease in GDP

    basically- if Trump actually goes through with his plans we’re in for a long period of economic hardship that we haven’t seen in half a century. and with it comes lots of radical movements because people will be angry and scared and the right wing is more than happy to throw fuel on the fire

    however… maybe this is all sort of a show. Kind of like his last term with “the Wall”. The wall was never meant to be built nor was it meant to accomplish anything. It was just a big theater for his base. An easy to understand symbol to point to. Trump supporters believe based on feeling and not on logic.

    of course, that could just be me being optimistic.