Monday, 10 March 2025

US Economy Tanking...Quelle Surprise

What could possibly go wrong when you put a six times bankrupt businessman in charge of a nations economy?
'It's a very rough patch for Wall Street' said one economist from  B. Riley Wealth as they queued up to give a bleak analysis of the US economy, with one economic indicator suggesting it was shrinking at its fastest pace since the pandemic.
When the markets opened this morning Wall Street's main indexes fell amid fears a trade war could spark an economic slowdown with the Nasdaq and the S&P 500 falling 1.3% and 2.03%, respectively and the Dow Jones Industrial Average falling 0.72%.
Nvidia was down 2.2%, Meta and Amazon.com were down more than 3% each and Tesla was down 7% while JPMorgan Chase and Goldman Sachs declined more than 3% each.
To make matters worse still, Chinese retaliatory tariffs come into force today and a Reuters poll showed 91% of economists see a high risk of a recession risks due to Trump's economic policies.
Commerce Secretary Howard Lutnick, acknowledged that the price of some goods may rise but to be honest I don't know what any of that means except going by the shaking of economists heads, it isn't good for America and yet another example of everything the Mango Moron touches turns to crap.