CNBC Influencers: tariffs are bad, but I couldn't tell you why.
Discussion
They probably actually don’t know why!
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Tariffs destroy the fiat wealth redistribution scheme. It stops them from stripping the wealth from one nation to give to another. Reciprocal tariffs essentially end up to be free trade.
You put your finger on why everyone reacts the way they do. Tariffs may drive prices up in the short term, but they promote local production and trade of goods. The Wall Street types and the bankers want to monetize debt not promote industry. It gives them the control over the economy.
Kaiser Wilhelm complained that Germany had become the dumping ground for cheap goods and grain. The effect in the 1870s was that prices went through the floor and overall quality dropped significantly. It also hurt German agriculture and industry by making it diffulicult to compete.
Germany reinforced the policy in 1902.
I'm not saying this is what caused WW1, but in the Treaty of Versailles, Germany was forbidden from issuing tariffs until 1925, which tells you something about what the City of London, which held all the gold, felt about tariffs.
They think anything that makes the market go down is bad.
when all assets are monetized and all the asset values are artificially inflated by inflation, and all your money is in those assets, you like the system.
What people who are not in the stock market (which is most people) need to wrap their heads around is that prices will forever go up in this system. Complaining about tariffs causing price increases is like complaining that the ocean keeps getting the beach wet. Without tariffs, prices have gone up at a shocking rate since 2009, and especially since 2020.