[jetpilot]

Jeff Carlson
@themarketswork
·
4h
The same people losing their minds over Trump's tariffs were cheering for inflationary stimulus and catastrophic levels of national debt. They supported global lockdowns during Covid. They also couldn't care less about you.

Measuring the health of the US solely by current markets has always been a fallacy. In large part because those markets are dominated by large global companies (The Magnificent 7) who derive much of their revenue and profits abroad.

The markets have been massively overvalued with roughly $15-20 Trillion of fiscal stimulus pumped into them over the last four years. There was a correction already waiting.

Financial markets are an indicator but they provide little or no measure of the financial health for average Americans who are struggling to meet their monthly needs. A two tier economy of asset holders and those who are increasingly left behind.

We transferred Trillions in wealth to China and traded our entire blue collar class for "You want fries with that". Absolutely insane. We [intentionally] lost all sight of comparative advantage and threw away our inherent leverage as the country of destination.

We have to do something. We're already facing immense problems. Nearly $37 Trillion in debt coupled with terminal, perpetual trade deficits that only get worse over time.

We're facing short-term pain with a longer-term payoff. Recapturing our internal infrastructure is hard but we have to do something—particularly after being led down the path of globalist failure for decades.