Trump Dances

With Wall Street and….

Trump has vowed to impose heavy tariffs on Canada, Mexico and China on his first day in office. Mexico’s president promised to retaliate with heavy tarrifs on the US., Bejing could respond with a currency war. Trade wars may ensue, instability. Is this what Musk meant when he said before the election that it will be rough going at the onset, but everyone will eventually benefit? My supposition is that the wealthy will benefit, and in the meantime they won’t feel the effects of the tariffs as much as ordinary folks.

“The increasing specificity of Trump’s tariff threats, both in terms of the amounts and the countries to be targeted, indicates the strong possibility that these are looming actions rather than just blustery threats,” said Eswar Prasad, a professor of trade policy at Cornell University in the NY Times.

He’s picked two Wall Street players to run his economic policy, this after bemoning Wall Street’s influence on Washington. One of them, Scott Bessent, invested money for billionaire Democratic philanthropist George Soros for decades — Maga demonized Soros from the start. The other is Howard Lutnick, the chief executive of Cantor Fitzgerald. The selection of these two men makes one think his economy will be structured to benefit the rich. But I don’t fully grasp this stuff. Perhaps I am falling victim to thinking that at…