As the year 2024 approaches, the anticipation and excitement for the upcoming US presidential election is already palpable. But amidst all the political buzz and speculation, there is another group of individuals who are eagerly awaiting the outcome of the election – the banks and crypto bros.
Ever since Donald Trump’s election in 2016, the financial world has been on a rollercoaster ride. From tax cuts to deregulation, Trump’s economic policies have been a boon for the banking and cryptocurrency industries. And with the possibility of another term for Trump, these industries are salivating at the thought of what lies ahead.
The banner year of 2024 is set to whet the appetites of banks and crypto bros even further. With Trump’s promises of further tax cuts and deregulation, these industries are gearing up for a feast. But what does this mean for the average person? Will they also get a piece of the pie?
Unfortunately, the answer is no. While the largest companies are salivating over Trump’s economic policies, the little guy is guaranteed to lose. The recent tariffs imposed by the Trump administration have already created a hunger games landscape where the rich get richer and the poor get poorer.
The Intercept, an independent news publication, recently published an article titled “Trump’s Tariffs Will Create a Hunger Games Landscape Where the Little Guy Is Guaranteed to Lose”. The article delved into the potential consequences of Trump’s economic policies and how they will affect the average American.
The first and most obvious impact of Trump’s tariffs is the increase in prices of goods. With tariffs being imposed on imported goods, the cost of these goods will inevitably rise. This will have a direct impact on the wallets of American consumers, who will have to pay more for everyday items such as clothing, electronics, and even food.
But it’s not just the prices of goods that will be affected. The tariffs will also have a ripple effect on the overall economy. As prices rise, consumers will have less disposable income, resulting in a decrease in consumer spending. This, in turn, will have a negative impact on businesses, leading to job cuts and a slowdown in economic growth.
The article also highlighted the fact that the tariffs will not only hurt American consumers but also American businesses. Many companies rely on imported goods for their production, and with the added tariffs, their costs will increase significantly. This will not only affect their bottom line but also their ability to compete in the global market.
Moreover, the tariffs will also have a detrimental effect on international trade. The US has been engaged in trade wars with several countries, including China and Mexico. These countries have retaliated with their own tariffs, resulting in a decrease in US exports. This will not only hurt American businesses but also damage the country’s reputation as a reliable trading partner.
But perhaps the most alarming consequence of Trump’s tariffs is the potential for a recession. The US economy has been on an upward trajectory for the past few years, but the tariffs could put an end to that. The uncertainty and instability created by the tariffs could lead to a downturn in the economy, causing widespread job losses and financial hardship for many Americans.
In conclusion, while the largest companies may be salivating over Trump’s economic policies, the average American should be wary. The tariffs imposed by the Trump administration will create a hunger games landscape where the little guy is guaranteed to lose. The prices of goods will increase, the economy will suffer, and the potential for a recession looms over the country. It’s time for the American people to demand economic policies that benefit everyone, not just the wealthy few.
