Ben Garrison #wingnut grrrgraphics.com
President Trump is getting blamed for the markets going down. His reciprocal tariffs triggered the fall, but the real reason is the stock market has been going up steadily for way, way too long. Easy money from the Fed has pumped up the markets to stratospheric levels.
It reached the point where people expected the market to go up all the time and without any significant pullbacks. The stock market retreat does long significant if viewed through a short term lens, but overall, drop is not that significant. That doesn’t mean people aren’t becoming terrified over less money in their 401ks.
Many knew the markets were due for drop. Major companies weren’t just fairly valued, they were way overvalued. They were in a bubble waiting to pop. Warren Buffett knew this and he sold a lot of stocks well before Trump’s tariffs. “ The mega billionaire known as ”The Oracle Of Omaha” now sits on $300 billion in cash. Buffett will wait for a bottom before getting back in.
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Trump warned us there would be economic turbulence when his fair trade tariffs were set in place. No pain, no gain. Trump’s tariffs should have happened many decades ago. Now we’re seeing many countries beginning to drop their tariffs and allow a level trading field with the US.