TL;DR
Trump’s 104% tariff on Chinese goods triggered a market meltdown, echoing past financial crises. The average Joe, as usual, is left holding the bag.
Story
John’s retirement vanished faster than free beer at a frat party. Why? Because in the financial casino, the house always wins. This time, the game was tariffs—taxes on imported goods. Trump slapped a 104% tariff on Chinese goods. Imagine paying double for everything from your phone to your shoes. That’s what a 104% tariff means. This trade war, like the ones in history books, is a race to the bottom. Everyone loses.
‣ Tariff: A tax on imported goods.
Think of it like this: China makes cheap stuff. We buy it. Trump wants us to buy American, but American-made is expensive. So, he taxes Chinese goods to make them more expensive than American ones. Sounds smart? Nope. It’s like burning your house down to get rid of ants. Now everything’s expensive.
Remember the 2008 crash? Or Enron? Same story, different costumes. Greed, stupidity, and a sprinkle of ‘irrational exuberance.’ People thought the good times would never end. They were wrong. The market’s a rollercoaster, and right now, it’s a one-way trip down. The only winners here are the rich, who can afford to ride out the storm. Everyone else? Back to ramen noodles and hoping for a miracle.
‣ Irrational Exuberance: Being overly optimistic about the economy, leading to bad decisions.
Advice
Diversify your investments, kids. Don’t put all your eggs in one basket, especially when that basket is woven by politicians.