Trumpenomics
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Right but Buffet’s wife’s standard of living won’t change if she takes a 30% hit in her equities.
When you’ve made just enough, you need to be more conservative as you age so you don’t get clobbered by a downturn that you don’t have time to recover from. When you’ve made far more than you’d ever need, you can invest for future generations (ie the long term) even if you’re 85.
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The Wall Street editor of The Economist magazine had this to say about the exemption for Chinese made electronics:
If you were running a secret strategy to undermine American manufacturing, exempting popular finished consumer goods from tariffs and keeping them in place for intermediate goods, capital goods and raw materials would be a good way to go about it.
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@jon-nyc said in Trumpenomics:
ChatGPT gave me an estimate of 4-7 years to build a large aluminum smelting plant in the US at a cost of ~$5B per million tons of annual output. Oh and that assumes you have 15-20 terawatt hours per year of electricity generation nearby, enough to power about 1MM homes.
So yeah, no one’s doing that based on a tariff that might not last until June, let alone 2030.
