Global growth concerns have shot back onto the radar of financial markets as weakening U.S. economic data and growing trade tensions hurt consumer confidence and business activity.
Although recession is not the base-case scenario for economists, given underlying U.S. resilience, recent data has unnerved investors and U.S. President Donald Trump’s new 25% tariffs on Mexico and Canada are exacerbating growth concerns.
Oil prices are at their lowest since October , stocks from New York to Tokyo are retreating from recent multi-year highs and two-year U.S. Treasury yields are at their lowest since October as bond investors see increased chances of near-term rate cuts.
“One thing is essential for an economy and that’s confidence, which has taken a hit,” said Francois Savary, chief investment officer at Genvil Wealth Management, referring to weakening U.S. consumer and business sentiment.
Americans betrayed one another since Reagan under the capitalist call of “you can get more, just fuck over the fellow Americans that you don’t like” for over half a century. When’s the last time a party has said a god damned thing about solving a relatively easy problem for a wealthy nation: ending homelessness?
The incoming pain is well earned.
I’m going to think of all the burgeoning socialist regimes we’ve destabilized through soft power and military action, places that wanted to be societies of people that lifted one another up, in the name of keeping exploitation markets open to our capitalists, now that the bill for our mass cultural malice both within and without has come due when I’m feeling the pain.
How about you? Will you acknowledge our nation’s decades of unrepentant malice when your family is hungry? Or blame it on the for profit media pushed powerless scapegoats dejour like the homeless or immigrant neighbors we’ve failed and often ironically vocally resent?