BREAKING: MAGA world erupts in outage as Blackrock CEO Larry Fink announces that the United States may already be in the midst of a recession thanks to Donald Trump's disastrous tariffs.
He added that America has become a "global destabilizer" under the MAGA regime and he wasn't done there...
"I think we’re very close, if not in, a recession now," Fink said on CNBC.
"I think you’re going to see, across the board, just a slowdown until there’s more certainty. And we now have a 90-day pause on the reciprocal tariffs — that means longer, more elevated uncertainty," he added.
While Trump has dropped the tariffs on most countries down to 10%, pausing the outrageously inflated numbers that he temporarily imposed, he is still locked in an escalating trade war with China.
"Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense, and it will become a joke in the history of the world economy," stated Chinese officials.
Just today, China bumped its tariffs on American goods from 84% to 125% in response to Trump placing an effective 145% on Chinese goods. In addition to skyrocketing inflation, these tariffs are going to destroy American small businesses who rely on those imports.
By slapping the tariffs in place so haphazardly and suddenly, Trump failed to give U.S. companies adequate time to resource their supply chains — meaning that many will wither and die.
Fink stated that Blackrock's clients are facing "uncertainty" and as a result the world's largest asset manager is "spending more time with more conversation with more clients globally than any time. Our job now is to be, you know, helping, calming, giving them, giving them ideas."
"This is not a pandemic. This is not a financial crisis. This is something that we’ve created," he continued. "As I said, also on Monday, United States, post World War II was a global stabilizer. We are the global destabilizer."
"That’s a very hard thing to say, because I pride ourselves of being, you know, bringing the leadership, bringing the conversations," said Fink. "But I will say the power of U.S. capitalism is still alive."
If these tariffs are not reversed soon, the damage could be irreparable. American economic growth will stagnate and countless millions will be immiserated.
Please retweet and ❤️ to demand the repeal of the Trump tariffs — and consider joining the growing exodus to Tribel, a new pro-democracy social network that is exploding in popularity because Twitter and Facebook are trying to stop its growth — which is only making Tribel grow even faster. Please follow us on Tribel to get all of our breaking news alerts sent straight to your phone or computer by clicking the following link: https://t.co/HnJzSKjCwX
BREAKING: Maine Governor Janet Mills Just Stood Up to Donald Trump
SHE SAID THIS
“In America, the President is neither a King nor a dictator, as much as this one tries to act like it – and it is the rule of law that prevents him from being so.”
🔥🔥🔥🔥
BREAKING: Donald Trump's week ends with a car crash of bad news as polling reveals that 62% of Americans believe that he has not "gone far enough" to reduce prices — as groceries skyrocket and eggs become near impossible to find.
The political "honeymoon" is officially over...
According to CNN polling conducted by SRSS at the end of Trump’s fourth week in office, only a measly 27% of respondents believe that Trump has "been about right" in his approach.
Given the fact that roughly a third of this country will approve of just about anything that their MAGA cult leader does no matter what, these holdouts are not surprising.
Bizarrely, 11% of respondents said that Trump has gone "too far" in his efforts to bring down prices despite the fact that he has done next to nothing. We would challenge them to name even a single thing he has done.
In fact, Trump's ignorant fixation of tariffs and threatening trade wars with our closest allies has thrown the entire economy into chaos, moving us decidedly in the wrong direction.
Perhaps most surprisingly, 47% of Republicans agree with the 73% of Democrats who say that Trump has not gone far enough to wrestle prices down. 65% of Independents say the same.
Americans are waking up. Voters were conned into supporting the worst president in history for a second term because he promised to bring down prices. Instead, costs are higher than ever and our government is falling apart.
Please retweet and ❤️ if you think that the second Trump administration is a disaster — and consider joining the growing exodus to Tribel, a new pro-democracy social network that is exploding in popularity because Twitter and Facebook are trying to stop its growth — which is only making Tribel grow even faster. Please follow us on Tribel to get all of our breaking news alerts sent straight to your phone or computer by clicking the following link: https://t.co/HnJzSKj4Hp