That’s the New York Times graph this morning showing stock markets since President Trump’s inauguration. The lowest line (in orange) is Japan; the next lowest line is the U.S. The reason for all of those declines are believed to be Trump’s tariff policies.
A commenter last week asked why Ethics Alarms hadn’t discussed Trump’s tariffs. My response was, 1) I didn’t see them as an ethical issue and 2) I wasn’t informed sufficiently on the topic to opine on it. Veteran EA commentator Chris Marschner said, “Hold my beer!” The post below is the result: you van review the whole thread, which includes more from Chris, here.
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I don’t know if this is an ethics angle per se but the tariff objections illustrate without question America’s unwillingness to suffer any short term discomfort in order to obtain long term security. I keep hearing that Trump is a narcissist such that he has this inappropriate sense of sense but one of the clinical signs of narcissistic behavior is a sense of entitlement. The minute anything Trump does causes some immediate discomfort or loss many in the public feel they are entitled to what they had before.
A large percentage of the stock market gains are illusory because much of that growth was driven by inflated profits and subsequently inflated stock prices. Consumer and producer prices rise before costs are actually incurred because labor costs are negotiated on longer term contracts as are so many of our commodities. The Biden administration fueled those inflated profits – and he said as much in a speech in the port of Baltimore – when he poured 2 trillion dollars into the economy with too few goods to buy. Employment gains in the last 4 years were in large measure government jobs that produce intangibles whose values are only measured in terms of their employment.
People need to realize that the algorithms used by traders are driving much of the sell off because tariffs are deemed to be anti-growth. What the buy/sell programs are not factoring in is the 6 trillion dollars worth of investment commitment which will revitalize our semi-conductor industry and other strategic industries. We have to buy spare avionics parts for our military and the base materials for our medicines from our political adversary who has a 100 year plan to dominate the globe.







