President Donald Trump shared a video on social media that falsely claimed legendary investor Warren Buffett supported the administration’s tariff plan, which has battered the US stock market and ignited fears of a recession.
“Trump is crashing the stock market by 20% this month, but he’s doing it on purpose,” said the narrator in a video Trump shared on his social media platform, Truth Social. “And this is why Warren Buffett just said that Trump is making the best economic moves he’s seen in over 50 years.”
Buffett’s multinational conglomerate, Berkshire Hathaway, swiftly rejected that claim.
A constant undertone to all the talk from the Whitehouse is how badly other countries have been treating the US. How it just isn’t fair.
Writing in the New York Times Thomas Friedman sets out why the world is what it is and how we got there. Not certain I agree with all of the points but it does help me understand why Trump is wrong.
the world has been the way the world has been these past 80 years because America was the way America was: a superpower ready to let other countries take some advantage of it in trade, because previous presidents understood that if the world grew steadily richer and more peaceful, and if the United States just continued to get the same slice of global G.D.P. — about 25 percent — it would still prosper handsomely because the total pie would grow steadily. Which is exactly what happened.
The world has been the way the world has been because China brought more people out of poverty faster than any other country in history, largely on the back of a giant, relentless export engine that took advantage of the U.S.-engineered global free trade system.
The world has been the way the world has been because the United States had the good fortune to be bordered by two friendly democracies, Canada and Mexico. Together the three nations wove a network of supply chains that made them all richer, no matter that many goods manufactured in North America could have a label saying, “Made by America, Mexico and Canada together.”
The world has been the way the world has been thanks to the alliance between the United States and both the other members of NATO and the European Union, which, with U.S. help, kept the peace in Europe from the end of World War II right up to the Russian invasion of Ukraine in 2022. This vast, prosperous trans-Atlantic partnership has been a pillar of global growth and security.
The world has been the way the world has been because America had the government work force it had, with an expertise, incorruptibility and funding of scientific research that were the envy of the world.
I cancelled my digital subscription for the New York Times. And told them the reason.
Cancelled Apple subscriptions for extras like iCloud, Music, etc. And told them the reason.
Decided to stop using Amazon.de, couldn’t figure out (yet) how to tell them why.
Yah, two out of the three are as much victims as we are but if they don’t stand up to the angry old man, who will.
Me too.
I’m sure losing my once a year visits to MacDonald’s will be a huge blow to them and I’ve never been to KFC in my life and I don’t intend to start now.
“… it also forces farmers to sell more here in the US to bring grocery prices way down, we’ve already seen that with eggs”
Which reminds me: Did Denmark ever sell them those eggs the US asked them for?
Funny, I consume none of that. Ever. Apart from the occasional coke which I don’t miss at all. Coke is produced in Switzerland, no? Wouldn’t even matter then.
Also interesting how sales changed since I was in the business. You don’t buy from us so we will punish you one way or the other. How does that translate into daily life? You tell your boss “that company didn’t buy from me, you must charge them my bonus”?
