'Hidden From the American People,' GOP Moves to Give Trump Unchecked Trade War Powers
"They slipped in a little clause letting them escape ever having to debate or vote on Trump's tariffs," said one Democratic critic. "Isn't that clever?"
U.S. House Speaker Mike Johnson (R-La.) speaks while House Majority Leader Steve Scalise (R-La.) looks on during a March 11, 2025 press conference on Capitol Hill in Washington, D.C.
(Photo: Roberto Schmidt/AFP via Getty Images)
Brett Wilkins
Mar 11, 2025
COMMON DREAMS
Republican leaders in the U.S. House of Representatives on Tuesday snuck language into a rule on the GOP's stopgap funding bill that a pair of Democratic lawmakers warned would "effectively surrender congressional power over raising taxes and tariffs on the American people" to President Donald Trump as he escalates his trade war against the world.
The Republican move would prevent any Democratic vote to challenge the "national emergency" being invoked by Trump to levy sweeping tariffs on countries including Canada, China, and Mexico—and, according to remarks by the president during his joint address to Congress earlier this month, any nation that does not lower barriers to trade with the United States by April 2.
Trump has used the International Emergency Economic Powers Act to slap tariffs on Canadian, Chinese, and Mexican exports—although some products have been granted exemptions. The 1977 law empowers the president to control international transactions by declaring a national emergency. However, the measure has never been invoked in order to impose tariffs.
While House Speaker Mike Johnson (R-La.) and some of his GOP colleagues said Tuesday that they believe they can push through the six-month funding measure that would avert a government shutdown, Democratic lawmakers condemned the Republicans' process, in which they say they were not included.
"Guess what [Republicans] tucked into this rule, hoping that nobody would notice?" Rep. Jim McGovern (D-Mass.), the ranking member of the House Rules Committee, said on the lower chamber's floor on Tuesday. "They slipped in a little clause letting them escape ever having to debate or vote on Trump's tariffs. Isn't that clever?"
Reps. Don Beyer (D-Va.) and Suzan DelBene (D-Wash.), both members of the House Ways and Means Subcommittee on Trade, said in a joint statement Tuesday that "every House Republican who votes for this measure is voting to give Trump expanded powers to raise taxes on American households through tariffs with full knowledge of how he is using those powers, and every Republican will own the economic consequences of that vote."
"It speaks volumes that Republicans are sneaking this provision into a procedural measure hidden from the American people," added Beyer and DelBene, who together previously introduced the Prevent Tariff Abuse Act and the Congressional Trade Authority Act in a bid "to rein in Trump's abuses of tariff powers."
The lawmakers continued:
Today, Trump is further endangering the U.S. economy and hiking prices on the American people by increasing his destructive and pointless tariffs on Canada. There can be no doubt about how he will use the power Republicans are about to give him, and about the disastrous economic effects we have already seen from Trump's tariffs. While he babbles about making Canada the 51st state, your groceries and housing are getting more expensive and your retirement accounts are getting crushed—and House Republicans are supporting him every step of the way.
"The Constitution delegates authority setting tariffs, which are taxes, to Congress, and Congress retains the power to stop Trump from wrecking our economy," Beyer and DelBene added. "Yet House Republicans are choosing to surrender the power of their own votes to a reckless president, putting politics over the country and their constituents. We will continue urging our colleagues to come to their senses and save our economy from Trump's tariff chaos."
"They slipped in a little clause letting them escape ever having to debate or vote on Trump's tariffs," said one Democratic critic. "Isn't that clever?"
U.S. House Speaker Mike Johnson (R-La.) speaks while House Majority Leader Steve Scalise (R-La.) looks on during a March 11, 2025 press conference on Capitol Hill in Washington, D.C.
(Photo: Roberto Schmidt/AFP via Getty Images)
Brett Wilkins
Mar 11, 2025
COMMON DREAMS
Republican leaders in the U.S. House of Representatives on Tuesday snuck language into a rule on the GOP's stopgap funding bill that a pair of Democratic lawmakers warned would "effectively surrender congressional power over raising taxes and tariffs on the American people" to President Donald Trump as he escalates his trade war against the world.
The Republican move would prevent any Democratic vote to challenge the "national emergency" being invoked by Trump to levy sweeping tariffs on countries including Canada, China, and Mexico—and, according to remarks by the president during his joint address to Congress earlier this month, any nation that does not lower barriers to trade with the United States by April 2.
Trump has used the International Emergency Economic Powers Act to slap tariffs on Canadian, Chinese, and Mexican exports—although some products have been granted exemptions. The 1977 law empowers the president to control international transactions by declaring a national emergency. However, the measure has never been invoked in order to impose tariffs.
While House Speaker Mike Johnson (R-La.) and some of his GOP colleagues said Tuesday that they believe they can push through the six-month funding measure that would avert a government shutdown, Democratic lawmakers condemned the Republicans' process, in which they say they were not included.
"Guess what [Republicans] tucked into this rule, hoping that nobody would notice?" Rep. Jim McGovern (D-Mass.), the ranking member of the House Rules Committee, said on the lower chamber's floor on Tuesday. "They slipped in a little clause letting them escape ever having to debate or vote on Trump's tariffs. Isn't that clever?"
Reps. Don Beyer (D-Va.) and Suzan DelBene (D-Wash.), both members of the House Ways and Means Subcommittee on Trade, said in a joint statement Tuesday that "every House Republican who votes for this measure is voting to give Trump expanded powers to raise taxes on American households through tariffs with full knowledge of how he is using those powers, and every Republican will own the economic consequences of that vote."
"It speaks volumes that Republicans are sneaking this provision into a procedural measure hidden from the American people," added Beyer and DelBene, who together previously introduced the Prevent Tariff Abuse Act and the Congressional Trade Authority Act in a bid "to rein in Trump's abuses of tariff powers."
The lawmakers continued:
Today, Trump is further endangering the U.S. economy and hiking prices on the American people by increasing his destructive and pointless tariffs on Canada. There can be no doubt about how he will use the power Republicans are about to give him, and about the disastrous economic effects we have already seen from Trump's tariffs. While he babbles about making Canada the 51st state, your groceries and housing are getting more expensive and your retirement accounts are getting crushed—and House Republicans are supporting him every step of the way.
"The Constitution delegates authority setting tariffs, which are taxes, to Congress, and Congress retains the power to stop Trump from wrecking our economy," Beyer and DelBene added. "Yet House Republicans are choosing to surrender the power of their own votes to a reckless president, putting politics over the country and their constituents. We will continue urging our colleagues to come to their senses and save our economy from Trump's tariff chaos."
How will Trump lie and cheat his way out of this slump?
REUTERS/Lucas Jackson/File Photo/File Photo
A trader works on the floor of the New York Stock Exchange shortly before the closing bell as the market takes a significant dip in New York, U.S.
REUTERS/Lucas Jackson/File Photo/File Photo
A trader works on the floor of the New York Stock Exchange shortly before the closing bell as the market takes a significant dip in New York, U.S.
March 11, 2025
ALTERNET
Recall that Trump was elected largely because Americans thought the economy was lousy and believed him when he said he’d fix it.
Now, seven weeks after his inauguration, the bottom is falling out. Stocks are plunging. Treasury yields are falling. Consumer confidence is dropping. Inflation is picking up.
Over the weekend, Trump refused to rule out a recession this year, telling Fox News there will be a “period of transition, because what we’re doing is very big.”
Well, yes, if “very big” means destroying much of the federal government, allying with Putin against our traditional allies, and putting high tariff walls around America.
The cost of living — the single biggest problem identified by consumers over the last several years — is going up, not down. Trump’s tariffs on steel and aluminum, and his threatened 25 percent tariffs on Canada and Mexico, are playing havoc with supply chains inside and outside America.
Trump’s trade war with China intensified today as China began imposing retaliatory tariffs on a wide range of American farm products. Food prices are rising.
Corporations are pulling back from investing in new productive capacity — additional jobs, equipment, factories — because Trump and Musk’s chaos makes it impossible for them to gauge what the future will bring. Joblessness is rising.
The S&P 500 was down more than 2 percent in this morning’s trading — after last week’s 3.1 percent drop (the biggest drop in six months) — signaling that investors are unnerved.
Tesla’s stock tumbled more than 8 percent this morning. Shares of Apple, Microsoft, Alphabet, Amazon.com, Nvidia, and Meta Platform fell more than 2 percent.
Long-term bonds —which reveal investors’ expectations about the economy over the next decade —are also down. They expect hard times. The 10-year U.S. Treasury yield slipped below 4.23 percent (it had settled Friday above 4.31 percent).
Even before this Trump slump, only the richest 10 percent of Americans had enough purchasing power to keep the economy going with their spending. The bottom 90 percent — including most Trump voters — were barely getting by. The next 18 months could be rough on millions of people.
Will the Trump slump turn into a recession? How will Trump lie and cheat his way out of it? Stay tuned.
Robert Reich is a professor of public policy at Berkeley and former secretary of labor. His writings can be found at https://robertreich.substack.com/.
ALTERNET
Recall that Trump was elected largely because Americans thought the economy was lousy and believed him when he said he’d fix it.
Now, seven weeks after his inauguration, the bottom is falling out. Stocks are plunging. Treasury yields are falling. Consumer confidence is dropping. Inflation is picking up.
Over the weekend, Trump refused to rule out a recession this year, telling Fox News there will be a “period of transition, because what we’re doing is very big.”
Well, yes, if “very big” means destroying much of the federal government, allying with Putin against our traditional allies, and putting high tariff walls around America.
The cost of living — the single biggest problem identified by consumers over the last several years — is going up, not down. Trump’s tariffs on steel and aluminum, and his threatened 25 percent tariffs on Canada and Mexico, are playing havoc with supply chains inside and outside America.
Trump’s trade war with China intensified today as China began imposing retaliatory tariffs on a wide range of American farm products. Food prices are rising.
Corporations are pulling back from investing in new productive capacity — additional jobs, equipment, factories — because Trump and Musk’s chaos makes it impossible for them to gauge what the future will bring. Joblessness is rising.
The S&P 500 was down more than 2 percent in this morning’s trading — after last week’s 3.1 percent drop (the biggest drop in six months) — signaling that investors are unnerved.
Tesla’s stock tumbled more than 8 percent this morning. Shares of Apple, Microsoft, Alphabet, Amazon.com, Nvidia, and Meta Platform fell more than 2 percent.
Long-term bonds —which reveal investors’ expectations about the economy over the next decade —are also down. They expect hard times. The 10-year U.S. Treasury yield slipped below 4.23 percent (it had settled Friday above 4.31 percent).
Even before this Trump slump, only the richest 10 percent of Americans had enough purchasing power to keep the economy going with their spending. The bottom 90 percent — including most Trump voters — were barely getting by. The next 18 months could be rough on millions of people.
Will the Trump slump turn into a recession? How will Trump lie and cheat his way out of it? Stay tuned.
Robert Reich is a professor of public policy at Berkeley and former secretary of labor. His writings can be found at https://robertreich.substack.com/.
'Great unraveling': Pulitzer-winner warns Trump will trigger economic 'nervous breakdown'
Erik De La Garza
March 11, 2025
RAW STORY
FILE PHOTO: A trader works on the floor of the New York Stock Exchange shortly before the closing bell as the market takes a significant dip in New York, U.S., February 25, 2020. REUTERS/Lucas Jackson/File Photo/File Photo
The global uncertainties spawned by President Donald Trump’s inconsistent policies – both economic and foreign – will not only topple the markets and send investors and entrepreneurs into panic mode, but is also certain to unleash a global “nervous breakdown.”
That’s according to Pulitzer Prize-winning columnist Thomas Friedman, who warned readers in an op-ed published Tuesday that Trump retreating to “his old obsessions and grievances” once he returned to the White House, coupled with cramming his administration with “fringe ideologues” and teetering tariff threats, is causing “a great unraveling.”
“Four years of this will not work, folks,” Friedman wrote.
“Our markets will have a nervous breakdown from uncertainty, our entrepreneurs will have a nervous breakdown, our manufacturers will have a nervous breakdown, our investors — foreign and domestic — will have a nervous breakdown, our allies will have a nervous breakdown and we’re going to give the rest of the world a nervous breakdown,” he said.
The Pulitzer Prize-winning columnist added that “top officials of our oldest allies” fear the country is not just becoming unstable, “but actually their enemy.”
“The only person who gets treated with kid gloves is Putin, and America’s traditional friends are in shock,” Friedman wrote.
Similarly, he said economists have expressed fear over “profound uncertainty” surrounding Trump’s economic policies that could lead to a “combination of stagnant growth and inflation (from so many tariffs) known as stagflation.”
Friedman laid blame on all the turmoil Trump has so far triggered in the seven weeks since Inauguration Day, all because he ran for reelection “to avoid criminal prosecution and to get revenge on people he falsely accused of stealing the 2020 election."
"He never had a coherent theory of the biggest trends in the world today and how to best align America with them to thrive in the 21st century. That is not why he ran," Friedman summed up.
Friedman concluded that Trump's "biggest lie of all his big lies" are his "claims that he inherited an economy in ruins and that’s why he has to do all of these things. Nonsense."
Erik De La Garza
March 11, 2025
RAW STORY
FILE PHOTO: A trader works on the floor of the New York Stock Exchange shortly before the closing bell as the market takes a significant dip in New York, U.S., February 25, 2020. REUTERS/Lucas Jackson/File Photo/File Photo
The global uncertainties spawned by President Donald Trump’s inconsistent policies – both economic and foreign – will not only topple the markets and send investors and entrepreneurs into panic mode, but is also certain to unleash a global “nervous breakdown.”
That’s according to Pulitzer Prize-winning columnist Thomas Friedman, who warned readers in an op-ed published Tuesday that Trump retreating to “his old obsessions and grievances” once he returned to the White House, coupled with cramming his administration with “fringe ideologues” and teetering tariff threats, is causing “a great unraveling.”
“Four years of this will not work, folks,” Friedman wrote.
“Our markets will have a nervous breakdown from uncertainty, our entrepreneurs will have a nervous breakdown, our manufacturers will have a nervous breakdown, our investors — foreign and domestic — will have a nervous breakdown, our allies will have a nervous breakdown and we’re going to give the rest of the world a nervous breakdown,” he said.
The Pulitzer Prize-winning columnist added that “top officials of our oldest allies” fear the country is not just becoming unstable, “but actually their enemy.”
“The only person who gets treated with kid gloves is Putin, and America’s traditional friends are in shock,” Friedman wrote.
Similarly, he said economists have expressed fear over “profound uncertainty” surrounding Trump’s economic policies that could lead to a “combination of stagnant growth and inflation (from so many tariffs) known as stagflation.”
Friedman laid blame on all the turmoil Trump has so far triggered in the seven weeks since Inauguration Day, all because he ran for reelection “to avoid criminal prosecution and to get revenge on people he falsely accused of stealing the 2020 election."
"He never had a coherent theory of the biggest trends in the world today and how to best align America with them to thrive in the 21st century. That is not why he ran," Friedman summed up.
Friedman concluded that Trump's "biggest lie of all his big lies" are his "claims that he inherited an economy in ruins and that’s why he has to do all of these things. Nonsense."
By AFP
March 11, 2025
Wall Street: — © Digital Journal
Asian markets tumbled Tuesday following a sharp sell-off on Wall Street fuelled by fears about the US economy as Donald Trump presses ahead with his global trade war and federal jobs cuts.
Traders had initially welcomed his election on optimism that his promised tax cuts and deregulation would boost the world’s top economy and help equities push to more record highs.
But there is now a growing pessimism that a recession could be on the cards amid warnings that tariffs imposed on key trade partners will reignite inflation and force the Federal Reserve to hike interest rates again.
The president’s weekend comments that the economy was facing “a period of transition” and his refusal to rule out a downturn did little to soothe investor worries.
A new wave of tariffs due this week will see steep levies of 25 percent on steel and aluminum imports.
Uncertainty over Trump’s tariffs and threats have left US financial markets in turmoil and consumers unsure of what the year might bring.
Fears about the future battered Wall Street, where the Nasdaq tanked four percent owing to another plunge in high-flying tech titans including Apple, Amazon and Tesla.
And Asia followed suit, with losses across the board.
Tokyo was among the main losers after Japanese Trade Minister Yoji Muto said he had failed to win an immediate exemption from US tariffs.
Hong Kong and Shanghai extended Monday’s selling that was stoked by a big miss on Chinese consumer prices that added to worries about the Chinese economy.
Sydney, Singapore, Seoul, Taipei, Wellington and Manila were also deep in negative territory.
“Economic uncertainty and recession fears have intensified, partly driven by President Trump’s weekend comments about the economy being in “a period of transition” and his reluctance to rule out a recession,” said Shaun Murison, senior market analyst at IG online trading platform.
“This uncertainty has heightened investor anxiety. Trump’s trade policies, including ongoing tariff discussions are creating uncertainty and fears of economic slowdown.
“These tariffs could potentially elevate prices and complicate efforts to reduce interest rates.”
The plunge in sentiment across markets in the past few weeks has filtered through to other risk markets, with bitcoin falling below $80,000 on Monday to its lowest level since November — having hit a record close to $110,000 in January.
The cryptocurrency’s losses have also been driven by disappointment that Trump signed an executive order to establish a “Strategic Bitcoin Reserve” without planning any public purchases of it.
Oil extended Monday’s drop of more than one percent amid worries about demand as US recession speculation builds.
– Key figures around 0230 GMT –
Tokyo – Nikkei 225: DOWN 1.7 percent at 36,382.57 (break)
Hong Kong – Hang Seng Index: DOWN 1.1 percent at 23,512.73
Shanghai – Composite: DOWN 0.4 percent at 3,354.29
Euro/dollar: UP at $1.0855 from $1.0836 on Monday
Pound/dollar: UP at $1.2888 from $1.2878
Dollar/yen: DOWN at 146.90 yen from 147.26 yen
Euro/pound: UP at 84.23 pence from 84.13 pence
West Texas Intermediate: DOWN 0.5 percent at $65.70 per barrel
Brent North Sea Crude: DOWN 0.4 percent at $69.03 per barrel
New York – Dow: DOWN 2.1 percent at 41,911.71 points (close)
London – FTSE 100: DOWN 0.9 percent at 8,600.22 (close)
Op-Ed: Are the markets calling the shots right for once? It’s complicated
By Paul Wallis
DIGITAL JOURNAL
March 10, 2025
Nasdaq building in New York. — © AFP
In a culture where the phrase “market forces” was a mantra for “no ideas,” the phrase has become mystic, and the lack of ideas is pervasive. Markets are manipulable, overhyped, and usually overvalued.
The markets are usually particularly unreliable as predictors of anything much. Big investment money tends to react too slowly to new things and is very risk averse. That slowness to react is turning ugly.
2008 was an exception. The markets caught up with reality, a very rare event since the Greed is Good psychoses. The markets had to call it like it was. A huge volume of worthless securities decimated Middle America. Fortunes were made but mostly lost in the retail investment sector.
There’s a big but nasty-looking difference this time. This is the whole economy in play, and the stakes are much higher.
The big drops in recent days, notably the NASDAQ, are NOT the same thing. The usual suspects. Nvidia, Tesla, and Amazon took a lot of damage and took the index with them. A lot of real money went with them.
Now consider:
All three stocks are hyper-sensitive and oversold to the market.
They all have specific issues. They typically move more than any other stocks with a few exceptions.
Nvidia has been super-hyped on the basis of future earnings from new AI chips. Tesla’s market image has been almost completely destroyed by its demagogue-in-chief.
Amazon is the top storey of the retail market, and retail is under tremendous pressure. The consumer market is shrinking thanks to massive increases in prices across the board. The retailers are trying to dodge the bullets, and not succeeding.
Of themselves, these stocks are usually pretty neurotic and no basis for prophecy. The underlying reason for the moves is more worrying. The massive instability and visions of chaos created by the new administration are extremely disruptive. Nobody has a clue what the future Federal budget will be like. Big job losses and highly questionable numbers don’t do much to reassure.
More Federal debt isn’t exactly popular. It could also be dangerous, and if the cost of borrowing goes up, major defaults are quite possible. The credit market could react badly to a $4 trillion Federal debt ceiling over any time frame. Who wants to lend that sort of money? Who’s paying for it? The US could well have already shut itself off from foreign lenders as well.
Trade is looking particularly bad. Reciprocal tariffs will also hit US exporters. Importers now have new 25% margins to find in their markets to make a profit.
Who has 25% profit margins to absorb the tariffs? Nobody who’s doing business legally. When importers and exporters are both hit with extra big costs, it’s no surprise who pays. The consumer market is too broke to afford it.
The likely result is uncontrollable and unavoidable deflation. That’s the bad kind of deflation. If you manage your own price moves, you can control it, but that’s almost impossible now. Forget “growth” in this environment.
You can’t run any economy on tantrums. This hysteria is going to cause severe insecurity and cost very big money throughout the US economy from top to bottom.
That means everybody loses.
Even the Mafia could go out of business as the hard cash dries up. You can’t even lend loan shark money to people who’ll probably never have any money.
So – Have the markets got it right? This is where it gets complicated. The really big US capital is now in play, and it has never liked any sort of risk. It’s not happy about having to wake up and pay attention.
There’s more to this idyllic Beatrix Potter-like picture of utter lunacy. The US property market, the multi-trillion sacred cow of US capitalism, isn’t looking very safe. Florida and California are looking iffy. One look at the property market headlines will tell you that nobody’s trying too hard to predict what happens next.
Will there be a stock market crash? There definitely will if the big investors bail out to dodge losses. That money can easily go offshore to a safer and saner environment, where it will be very welcome.
All of the above equate to one thing.
The key US economic fundamentals are far beyond lousy across all sectors and clearly deteriorating.
These market moves could be the first whimper of a real collapse. Let’s hope not.
___________________________________________________________
Disclaimer
The opinions expressed in this Op-Ed are those of the author. They do not purport to reflect the opinions or views of the Digital Journal or its members.
By Paul Wallis
DIGITAL JOURNAL
March 10, 2025
Nasdaq building in New York. — © AFP
In a culture where the phrase “market forces” was a mantra for “no ideas,” the phrase has become mystic, and the lack of ideas is pervasive. Markets are manipulable, overhyped, and usually overvalued.
The markets are usually particularly unreliable as predictors of anything much. Big investment money tends to react too slowly to new things and is very risk averse. That slowness to react is turning ugly.
2008 was an exception. The markets caught up with reality, a very rare event since the Greed is Good psychoses. The markets had to call it like it was. A huge volume of worthless securities decimated Middle America. Fortunes were made but mostly lost in the retail investment sector.
There’s a big but nasty-looking difference this time. This is the whole economy in play, and the stakes are much higher.
The big drops in recent days, notably the NASDAQ, are NOT the same thing. The usual suspects. Nvidia, Tesla, and Amazon took a lot of damage and took the index with them. A lot of real money went with them.
Now consider:
All three stocks are hyper-sensitive and oversold to the market.
They all have specific issues. They typically move more than any other stocks with a few exceptions.
Nvidia has been super-hyped on the basis of future earnings from new AI chips. Tesla’s market image has been almost completely destroyed by its demagogue-in-chief.
Amazon is the top storey of the retail market, and retail is under tremendous pressure. The consumer market is shrinking thanks to massive increases in prices across the board. The retailers are trying to dodge the bullets, and not succeeding.
Of themselves, these stocks are usually pretty neurotic and no basis for prophecy. The underlying reason for the moves is more worrying. The massive instability and visions of chaos created by the new administration are extremely disruptive. Nobody has a clue what the future Federal budget will be like. Big job losses and highly questionable numbers don’t do much to reassure.
More Federal debt isn’t exactly popular. It could also be dangerous, and if the cost of borrowing goes up, major defaults are quite possible. The credit market could react badly to a $4 trillion Federal debt ceiling over any time frame. Who wants to lend that sort of money? Who’s paying for it? The US could well have already shut itself off from foreign lenders as well.
Trade is looking particularly bad. Reciprocal tariffs will also hit US exporters. Importers now have new 25% margins to find in their markets to make a profit.
Who has 25% profit margins to absorb the tariffs? Nobody who’s doing business legally. When importers and exporters are both hit with extra big costs, it’s no surprise who pays. The consumer market is too broke to afford it.
The likely result is uncontrollable and unavoidable deflation. That’s the bad kind of deflation. If you manage your own price moves, you can control it, but that’s almost impossible now. Forget “growth” in this environment.
You can’t run any economy on tantrums. This hysteria is going to cause severe insecurity and cost very big money throughout the US economy from top to bottom.
That means everybody loses.
Even the Mafia could go out of business as the hard cash dries up. You can’t even lend loan shark money to people who’ll probably never have any money.
So – Have the markets got it right? This is where it gets complicated. The really big US capital is now in play, and it has never liked any sort of risk. It’s not happy about having to wake up and pay attention.
There’s more to this idyllic Beatrix Potter-like picture of utter lunacy. The US property market, the multi-trillion sacred cow of US capitalism, isn’t looking very safe. Florida and California are looking iffy. One look at the property market headlines will tell you that nobody’s trying too hard to predict what happens next.
Will there be a stock market crash? There definitely will if the big investors bail out to dodge losses. That money can easily go offshore to a safer and saner environment, where it will be very welcome.
All of the above equate to one thing.
The key US economic fundamentals are far beyond lousy across all sectors and clearly deteriorating.
These market moves could be the first whimper of a real collapse. Let’s hope not.
___________________________________________________________
Disclaimer
The opinions expressed in this Op-Ed are those of the author. They do not purport to reflect the opinions or views of the Digital Journal or its members.
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