hey i saw that and agreed too. people will be happy to pay the tariff tax on the corners of their finances if it hurts the investment class more. sure there's 5d chess theories about the rich holding cash to buy up the crash, but right now Tennessee plumbers aren't freaking out, its New Jersey brokers.
I don't think that's necessarily true, a significant amount of low cost products come from overseas. Dollarama does exceptionally well during recession but all its items are overseas cheap manufactured items. China, Cambodia, Vietnam, India, just look at the tags on any of your cheap walmart clothing. You can say, well that's not core like food, but it is everyday spending, and a small hit obviously already hurts this people enough.
I think it very much will have an impact, and the attempt to downplay it is just service to a party that's causing more havoc than anyone originally anticipated and its just a cope to say it won't. Look at almost every product distribution company that does well during recessionary pullback periods, its ones that carry ultra cheap manufactured items from overseas.
I do think its true that's ultimately how Trump got elected, obviously there's a level of unhappiness in the states as peoples financial positions decline and life declines, and Trump was the ultimate middle finger to Washington, well the only one really so disgruntled people who thought Washington was not severing their interests anymore went the middle finger route. And I don't think they're wrong, Washington was serving special interest groups more than the average rust-belt American. Its just unfortunate we only had the one middle-finger candidate.
From a pure dollar value, it might hurt the upper-class the most, but that dollar value means the least amount. I think that's the difference in thinking. You think I care if my investments swing 7 figures? No. It will have zero impact. I would care if my paycheck was 1500 every two weeks and suddenly all my cloths and consumer goods went up even 5%.
Quick google:
Case in point -
https://ca.finance.yahoo.com/news/dollarama-hikes-dividend-by-15-races-to-open-new-stores-even-as-tariffs-spook-consumers-192446270.htmlThis post was edited by SBD on Apr 7 2025 10:06am