Trump’s Tariff Agenda Bets on Americans Giving Up Cheap Goods
www.nytimes.com
Treasury Secretary Scott Bessent argues that the American dream is about more than cheap televisions, but inflation-weary consumers might disagree.
  • cabron_offsets@lemmy.world
    161·
    19 days ago

    Lol, okay.

    I am in the top 2% of household income distribution. Yes, we’ll buy pizzas and wings and shit like that. My wife still buys farm produce, and that’s cool. But most discretionary spending is on hold in my house. I don’t know if my employer will exist in 6 months.

    I was planning on shopping for a new house a few months ago. Figured we could afford an upgrade. Nah, fuck it. I’m cool living a modest lifestyle and reevaluating over the coming years.

    I sold $1mm in stocks over the last 2 weeks.

    Trump is gonna fucking tank everything.

    • partial_accumen@lemmy.world
      5·
      19 days ago

      I sold $1mm in stocks over the last 2 weeks.

      That must have been a really hard decision especially to incur the likely $100k+ of capital gains taxes.

    • SpaceNoodle@lemmy.world
      3·
      19 days ago

      Are you just holding that in cash now? That’s gonna devalue even faster. Get that shit diversified in world markets - you’ll at worst lose money more slowly.

      • cabron_offsets@lemmy.world
        71·
        19 days ago

        You’re kidding yourself if you think there’s safe harbor other than buying when everyone else sells.

        Or, don’t take it from me, watch what Warren Buffet does.