Posted on 04/09/2025 2:11:51 PM PDT by E. Pluribus Unum
Many of America’s billionaires and millionaires thought they knew how they would profit from a second Trump term: There would be tax cuts and deregulation and an end to bothersome government investigations.
In other words, a White House sedulously attuned to their interests.
What they didn’t count on, however, was a chaotic and nonsensical tariff policy that threatens to plunge their investment holdings into a bear market — or in some cases, has already done so — and to unravel the global economy in which they made all their money.
Now, many of his erstwhile supporters among America’s plutocrats are screaming for mercy. In interviews and social media postings, and in one case even via a federal lawsuit, they’ve been calling on him to roll back his tariff plans or at least to pause them for several months.
Is he listening? So far, he hasn’t indicated a change in strategy. Whether Trump is open to persuasion or his White House sits behind a figurative barrier against criticism, like the Coulomb barrier that repels protons from an atomic nucleus until they reach a high energy level, isn’t known.
Criticism of the tariffs by Trump’s wealthier supporters has emerged as the investment markets continue to reel over Trump’s tariff plans and his apparent resistance to moderating the levies or his anti-free-trade rhetoric.
One can’t pretend that Trump’s backers haven’t been speaking clearly. Let’s listen in on the backlash from billionaires and the billionaire-adjacent.
Among the most vociferous is Ken Langone, the co-founder of Home Depot. Langone, whose net worth is estimated at about $9.5 billion by Forbes, is a Trump backer whose political contributions have gone mostly to Republicans, including a $500,000 donation last year to the GOP’s Senate Leadership Fund.
(Excerpt) Read more at latimes.com ...
“misguided tools”
Trump used the tools Congress gave him - tariffs.
Judging by the willingness to deal expressed by about 70 nations, they seem to have been guided very well.
It’s amazing given the so-called capitalist, so-called experts that the US runs a trade deficit.
It’s amazing given the so-called capitalist, so-called experts that Walmart is filled in the majority of aisles by mainly foreign-made stuff.
It’s amazing given the so-called capitalist, so-called experts that Home Depot is filled in many aisles by mainly foreign-made stuff.
Looking at the stuff in Walmart and Home Depot, much of it could have been made and packed in the USA by automated machinery.
Lefties are sad about the market rebound today. They’d love to see this country financially ruined if it hurt President Trump. They hate this country.
That Ken Fisher?!
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