Does anyone doubt that the rebound on Wall Street is not due to massive money printing propping up the wall? Professor Richard Wolff thinks so, and so do I. Wall Street is just too big to fail as always. And as always, most will be fooled.
And I have a feeling that someone is raking in the dough buying and making piles of toilet papers. Is there an agenda for the top 1% to now cast their net during the trough, having already pulled in the net at the peak, realizing that the tariffs will decimate the USA and Wall Street earlier? That was how the middle class in USA lost their pants or were destroyed by the top 1% over the years. When it comes to greed, the lesson is never learned. And Trump is obviously giving the top 1% a big hand, with himself probably in the game.
The tax cuts for the super-rich is already worth US$4.5 trillion as reported by some analysts. That is astronomical, an amount bigger than the GDP of any of the G7 countries including India. Trump and Elon Musk are now digging into areas for cost cutting to fund the tax cuts. Of course, Tesla is also benefitting from the money printing and propping going on.
Anonymous
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The USA will not collapse that fast, with all the frenzied money printing going on. What will happen is that inflation will result in civil unrest, when cost of living becomes intolerable. This isn't just affecting the Blacks, but across the board. 'Black Lives Matter' protests just died down eventually, but when it affects the whole bottom feeders, making up 50% of the USA population, the protests will not be trivial.
There is a massive protest now in the UK against Kier Starmer by pensioners, students, unions and farmers demanding for his resignation. Starmer basically did the opposite of what he promised when he took over the PM's job. He lied all along. This is a worst nightmare unfolding for Starmer which is touted to be unknown in UK history.
Trump is going to face the same Karma, sooner than later. Of course, as I said, the USA holds the money printing privilege that the UK does not have, to prolong the inevitable. But when the USA cannot continue to export its money printing inflation to the rest of the world, that will ignite the fuse domestically, as consumers find the price increases intolerable as in the UK.
This is still early days yet for Trump's tariffs to show up in the economy, despite all the gloating about inflation not rising uncontrollably. It will take a month or two to see the real damage over those tariffs. The lull in the storm is made possible by the stockpiling late last year when Trump was elected. Businesspeople knew that Trump will be escalating his trade war with more tariffs, and they already did their stockpiling in anticipation. But stockpiling needs avenues for repetition, which is not forthcoming, as imports continue to be more expensive.
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