Exciting Times to Buy a Car!
By 
I need few material possessions, outside of my books. So I’ve driven a 2010 Ford Focus for the last 12 years. But it’s starting to fade and we have a nephew who just graduated from college and needed an old car to get by for awhile, so we gave it to him. It was time to buy a new car anyway (our “newer” car is a 2013 Honda Civic). So you can imagine how happy I am to buy this in the times of Trump Tariffs!
President Trump’s punishing new tariffs on more than 90 countries snapped into place after the stroke of midnight Thursday, the latest escalation in a global trade war that has started to exact a toll on the U.S. economy.
Few of America’s major trading partners were spared under Mr. Trump’s updated slate of duties, which together have sent the average effective U.S. tariff rate to its highest level in nearly a century. In the hours before the import taxes took effect, the president signaled there would be more to come, as he doubled down on a strategy that has rattled markets, driven up prices and spooked consumers and businesses around the world.
Mr. Trump announced the new rates in a series of executive orders he signed last week, some of which formalized the preliminary trade agreements that he had reached in recent days with the European Union and other countries. The president has long maintained that these levies would help reset trade relationships that he deems unfair, raise new revenue for the U.S. government, spur more U.S. manufacturing and achieve other goals.
Mr. Trump’s tariffs have indeed helped generate money — roughly $152 billion in customs collections through July, recent data show — but his policies have not been without consequence. A growing number of businesses have warned recently that they may no longer be able to stomach the rising costs of key foreign components.
As a result, prices have started to climb. The latest monthly measure of inflation showed that appliances, clothing and furnishings became more expensive in June. The economy has grown but at an anemic pace, and some analysts predict little improvement through the remainder of the year. The labor market has experienced its own strains, with hiring sharply slowing in July.
At least Trump is going full Argentina in the late 90s and just firing anyone who counters his preferred economic news. These are going to be the good years my friends, the good years for American greatness,