I'm doubtful most Americans can (or are willing to) draw enough of a link between cause and effect to really learn a lesson from this. Half of the voters seem to either:
- Not believe the data (it's a hoax, rigged, fake news etc) or
- Blame the current issues on the previous administration or do a whataboutism justification or
- Don't really care because deporting immigrants / owning the libs / pretending trans people don't exist etc are more important
Maybe I am missing something but ~1/3 of voting age Americans voted for this. Trump was very clear that tariffs were coming, and even warned that Americans should be prepared for some tough times.
And another ~1/3 were comfortable enough with this to not bother voting.
Fourth and one inside the two yard line? Sorry bud. Coach called a pass play, so you get to take that L with everyone else.
Shoulda had a better coach.
Benefit of democratic government is that you get exactly the government you deserve. We can recover. There will be more elections. But even then we'll get what we vote for, no more and no less.
Tariffs might be a factor, but there's also a wider economic downturn globally at the moment. Canada lost 66k jobs in august, UK unemployment rate rose to 4.7%, Europe as a whole has slowing growth, deflation is becoming crisis-level in China and unemployment is rising.
All economists and financial analysts seem to say so:
“It will be difficult for the U.S. to avoid a recession if the tariffs stay at the level that’s been announced,” Claudia Sahm, chief economist at New Century Advisors.
"Fong says that could lead to changes in businesses’ cost structures, such as downsizing operations and laying off workers."
"J.P.Morgan ratcheted up its odds for a U.S. and global recession to 60%, as brokerages scrambled to revise their forecast models with tariff distress threatening to sap business confidence and slow down global growth."
"industries impacted by tariffs have shed tens of thousands of jobs."
"Torsten Sløk, chief economist at Apollo Global Management, observed job growth in tariff-impacted sectors is negative, while those not affected by tariffs have seen slower growth but remain in positive territory."
“Tariffs represent a negative supply shock, which hurts production and raises prices – a much smaller scale of what we experienced in the pandemic,” Nationwide economist Kathy Bostjancic wrote earlier this year.
