The stupidest episode in American economic history continues ...Middle East

It's all so stupid.

The economy is next.

Here is Olivier Blanchard, former chief economist of the IMF:

Gigantic tariffs on China. Implemented without delay. Unclear specific instructions. An administration without the means to implement it right. So goods that will not come, goods that will be unavailable at any price, exploding prices for others. Expect the news of the next few days (unless some other grenade explodes) to be dominated by stories of shortages, disruptions, small business bankruptcies. (Remember Covid…)

S&P 500 futures are down 2%.

This article was written by Adam Button at www.forexlive.com.

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