Exactly. The damage has been done; the fact that economic policy could dramatically change day-by-day makes investing and planning very difficult. In addition, the tariffs on China are insane.
One of my biggest concerns is the value of the dollar. If foreigners are discouraged from doing business with America either due to tariffs or due to other matters, how does this affect the dollar, which is a fiat currency? The US dollar is currently the world's reserve currency, which is the result of the United States' emerging victorious from WWII while Britain, holder of the world's previous reserve currency (the pound), had to contend with rebuilding as well as dealing with the loss of its empire. Fiat currencies, by definition, are not backed by assets, but are instead backed by "faith"; not in the religious sense, but in the faith that people have in the government issuing the currency. How will the world keep the faith if the custodian of the dollar acts so recklessly?
For many years I've been concerned about deficit spending and easy-money policies from central banks. However, for the past few months I've become very concerned about Trump's policies that alienate our allies and partners. What Trump and the rest of MAGA simply do not understand is that the United States is part of an interconnected world. American strength is more than just weaponry; it's also in our economy and our reputation.
Unfortunately Trump and his cabinet have done extraordinary damage to our nation in less than three months. He's like an angry man with a baseball bat smashing up irreplaceable artifacts in a museum, and sadly there is no police to stop him, because he is the chief of police. He is by far the worst president America has ever had to endure, and if this continues our nation will end up at war, either with itself or with other nations.
One of my biggest concerns is the value of the dollar. If foreigners are discouraged from doing business with America either due to tariffs or due to other matters, how does this affect the dollar, which is a fiat currency? The US dollar is currently the world's reserve currency, which is the result of the United States' emerging victorious from WWII while Britain, holder of the world's previous reserve currency (the pound), had to contend with rebuilding as well as dealing with the loss of its empire. Fiat currencies, by definition, are not backed by assets, but are instead backed by "faith"; not in the religious sense, but in the faith that people have in the government issuing the currency. How will the world keep the faith if the custodian of the dollar acts so recklessly?
For many years I've been concerned about deficit spending and easy-money policies from central banks. However, for the past few months I've become very concerned about Trump's policies that alienate our allies and partners. What Trump and the rest of MAGA simply do not understand is that the United States is part of an interconnected world. American strength is more than just weaponry; it's also in our economy and our reputation.
Unfortunately Trump and his cabinet have done extraordinary damage to our nation in less than three months. He's like an angry man with a baseball bat smashing up irreplaceable artifacts in a museum, and sadly there is no police to stop him, because he is the chief of police. He is by far the worst president America has ever had to endure, and if this continues our nation will end up at war, either with itself or with other nations.