As world leaders reacted to the US president’s “liberation day” tariff policies demolishing the international trading order, about $2.5tn (£1.9tn) was wiped off Wall Street and share prices in other financial centres across the globe.
World leaders from Brussels to Beijing rounded on Trump. China condemned “unilateral bullying” practices and the EU said it was drawing up countermeasures.
While Trump timed his Wednesday evening Rose Garden address to avoid live tickers of crashing stock markets, that fate arrived when Asian exchanges opened hours later.
The biggest take away I see from this is how easy it was to remove $2.5 trillion dollars … yet the world didn’t end.
I mean, the stock market is still up 5% or so from a year ago. Which doesn’t refute your point that it’s disconnected from reality, but rather that the wealthy people are not exactly suffering due to a single day or even a few weeks of market losses.
Check your pension fund
Imagine they go into building trains and tracks!
Investors have a long way to go before they’re living like subsistence farmers.
There’s always someone else who is working harder for less, so the idea work won’t get done is bullshit.
Yet