There are some very dark days ahead as a result of the disastrous trade policies being implemented by Donald Trump, and a noted professor of economics says those policies threaten to crash the US economy.
Justin Wolfers, a University of Michigan economics professor, says a deep recession is just around the corner,
Speaking with MSNBC host Nicolle Wallace, Wolfers explained, “You and me, our family budgets and how we make plans depends entirely on what happens in the White House, and it’s even harder than that because they haven’t announced a single clear coherent policy.”
That led Wolfers to this five-second summation:
“We have tariffs, then we don’t. Then we’re on a pause. Then we’re not. Then we’re going to make deals. And actually, we’re not going to make deals — I’m just going to say a new number.”
That sort of confusion and uncertainty is the kiss of death for any economy, Wolfers noted, and it suggests a recession is ahead for the United States.
“Realize that everything we buy is at risk. With the 145% tariff, it basically becomes impossible to buy any of those things.”
There are plenty of signs that hard times ahead for most Americans.
The stock market is in decline, consumer sentiment is at a new low, business spending is down dramatically, and the number of ships at major trading ports has declined precipitously, suggesting not only higher prices, but shortages the likes of which we haven’t seen since the COVID pandemic shut down most of the world and led to a jobless recession in the United States.
Long story short: As long as Trump remains in office, we’re all screwed. And for a hell of a lot longer than just five seconds.
