Oil just hit $100 a barrel. Low oil prices were the only thing preventing inflation from going back up.
Oh and also last month’s jobs report was -92,000 jobs which is really fucking bad, especially considering the context. Employers have the upper hand in the job market. Trump chickened out on the H1Bs, tariffs are eating profit margins.
China is pumping out goods for the rest of the world. There have been job losses related to Chinese dumping like the worst of the China Shock days. The tariffs haven’t done shit because they’re not designed to strangle China. They’re designed to enrich Trump and his friends.
The stockpiles of goods that importers built up before the tariffs went into effect have been mostly depleted.
Meanwhile consumer spending has remained robust because boomers, people who snagged 2% mortgages, and people making way over $100,000 a year are still spending. I’m sure niggers are also buying now and paying later with shit like Klarna.
Great work Donny, you’re causing stagflation.