Halls of Shrewd'm / US Policy
No. of Recommendations: 14
“Bloomberg reports that 62% of Americans they polled say the cost of everyday items has climbed over the past month and that 55% of employed Americans say they’re worried about losing their job. It also notes, as CNBC economic commenter Carl Quintanilla pointed out, that international stocks are outperforming the U.S. S&P stock index by the widest margin in 16 years. Yesterday the University of Michigan consumer confidence survey hit its lowest reading in 65 years.
Tonight Ana Swanson, Maggie Haberman, and Tyler Pager of the New York Times reported that the administration is attempting to lower food prices by preparing exemptions to tariffs, suggesting that some members of the administration are finally facing the fact that Trump’s fantasy ideology cannot defy reality forever.”
—Heather Cox Richardson, fake Professor of History at Boston College with three obviously forged Harvard degrees
No. of Recommendations: 9
preparing exemptions to tariffs, suggesting that some members of the administration are finally facing the fact that Trump’s fantasy ideology cannot defy reality forever.”
People have been pointing out some of Trump's protectionist tariffs are on goods where there is no US industry to protect, like coffee and bananas. Some understand that the tariffs have never been about protecting US industry, as much as they are shifting the tax burden to the Proles, so the "JCs" can have another tax cut.
Steve
No. of Recommendations: 3
Some understand that the tariffs have never been about protecting US industry, as much as they are shifting the tax burden to the Proles, so the "JCs" can have another tax cut.
You may be right, Steve. But I don't know if Trump thinks that strategically. In his puerile mind, those tariffs are money he imaginations going into his pocket. Easy money! Despite being cunning in his grifting, he really is amazingly stupid about almost everything else.
No. of Recommendations: 2
Yes, of course 62% polled think the cost of everyday items have increased because annualized inflation is somewhere around 2.8-3.0%. So about .25%/month.
What's really shocking is the 38% who do NOT think the cost of everyday items has increased.
How is that possible?
I think I have an answer.
These are the 38% who aren't responsible to actually pay for anything, perhaps. Disconnected from the markets, and disconnected from reality. Democrats all, no doubt.
The Cleveland Fed has reported that inflation increased at .18% on a monthly basis in October 2025, which works out to about 2.18% annualized (if compounded monthly for 12 months) or 2.16% annualized if you don't compound monthly.
That is remarkably close to the Fed's "target rate" of 2%/annually.
Core CPI, which excludes volatile items such as food and energy, was up .25% for the month of October, or about 3% annualized. Still a bit on the high side but much, much better than 9+% during the Biden Armageddon.
The New York Fed recently reported that short-term inflation expectations have declined, but medium and long term expectations remain at about 3% annually.
It is no surprise that international stocks are finally outperforming U.S. stocks this year, after lagging considerably over the past 10-15 years (if not more).
That's to be expected and is actually healthy. That's why it's smart to have a diversified investment portfolio that includes a healthy amount of international stocks and/or international stock index funds, and not have excessive home country bias in one's portfolio.
Heather Cox Richardson is not an economist, by the way.
No. of Recommendations: 1
Trump's tariffs are and always have been a negotiating ploy.
So what? If putting pressure on China et al via tariffs ends up benefiting the U.S., it's a win.
If not, Trump will try something else.
If it looks like the economy overall is hurting due to the tariffs, Trump will remove them.
So far, the tariffs don't seem to be significantly hurting the overall economy.
TBD.
