The only carbon units more delusional than the Donald about the distinctively un-awesome state of the US economy are the boys and girls who inhabit the canyons of Wall Street. They are being given every chance to get out of Dodge, but they keep bellying up to the bar for still another swig.
Consider yesterday’s doings. The White House actually confirmed during market hours that Trump is moving towards a 25% tax on Americans who buy goods made in China—-and those are mostly the cheaper goods in the Wal-Mart aisles which represent what Flyover America can actually afford to buy.
Taxing that stuff by 25% is full retard crazy—-even if the White House might argue that people can still order soon-to-be more costly lamps, travel bags, canned tuna, vacuum cleaners and toilet paper on their trusty iPhones, which would remain tax-free under the latest Trumpian demarche.
But if that’s any consolation to the rank-and-file, you’ve got to wonder about Wall Street. The hideously over-valued S&P 500 dropped by the grand sum of 2.93 points (o.10%) at yesterday’s close, and then took off for the races again today as if a potential $50 billion Trumpian war on the American consumer means nothing at all.