r/politics • u/OnweirdUpweird • 1d ago

Trump's tariffs are 'biggest policy mistake in 95 years,' Wharton's Jeremy Siegel says

https://www.cnbc.com/2025/04/04/trumps-tariffs-are-biggest-policy-mistake-in-95-years-whartons-jeremy-siegel-says.html
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u/AskMeAboutOkapis 1d ago

This is like burning down a city so you can buy up cheap real estate from the smoldering ruins. These tariffs are going to fundamentally change America's role in global trade. It won't just be like the covid crash where the economy bounced right back to mostly normal within a couple years.

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u/StrangerFew2424 1d ago

Exactly. 

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u/Spa_5_Fitness_Camp 1d ago

They don't care if it bounces back. Look how wealthy the russian oligarchs are, with a tiny fraction of the economy the US has. And their wealth is not locked up in publicly known stocks, it's far more liquid and hidden. That's what they want with the US.

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u/thebochman 23h ago

Japan’s stock market never bounced back to its peak in the 80s, the precedent is definitely there for something like that to happen.

Albeit the US has more tools for fixing it than Japan did, but still.