Eyes on the prize: tariffs aren't a "general solution", they're what Mr. Alligator Moat wanted. The Econ 101 read on tariffs is "universally bad idea". Much like concentration camps for immigrants and an ineffectual wall for border security. I mean, ignorance. When you don't understand why the complex solution isn't working, and you aren't smart enough to be educated as to why the simple solution won't work either, you stumble into the simple solution. And hey - North Korea's manufacturing is robust. They have a captive market. The Duterte approach to the drug war works when viewed through a properly narrow perspective. The externalities and legitimate crimes against humanity are only an issue if you care about humanity. This recession isn't a truly American one, though. Germany is leading the curve, probably due in no small part to Dieselgate but also due to the fact that the Chinese aren't buying as many cars. Large swaths of Europe are sensitive, as johan pointed out: The global economy is so interconnected these days that you can almost predict what the Dow will look like based on watching the DAX the night before. The thing about tariffs is they generally punish the receiver. Perpetually true.What's most surprising to me is how the general solution for "The other kids in the neighborhood aren't playing fair, so I'm taking the bat and ball and bases home with me, 'cause that'll make them wanna play with me more" mentality continues to this day.
What, I wonder, allows for our leadership to continually apply such a small-minded solution to such a complex situation?
Essentially we're pitching a fit and jacking up the game for all involved.
That, and those that have the fewest resources to weather a recession will feel the turbulence the most.