Min sjuka mor drabbas av börsnedgången
Trump’s tariff experiment to restore manufacturing jobs threatens an economic slowdown.
Even if these policies improve the lots of workers (and I really doubt it), the efforts are already coming at the expense of American retirees.
S&P 500, the underpinning of tens of millions of retirement savings accounts, is down around 11% since Wednesday and 17% since the February high
To the extent that the market keeps falling, it will automatically hit the millionaires and billionaires (okay, fine);
the old and relatively well off (not great) and
millions of regular retirees that worked hard all their lives to build a nest egg (bad).
The outcome will be all-the-more challenging if, as many economists expect, tariffs deliver a stagflationary shock that keeps inflation high even as the the economy sputters.
Jonathan Levin Bloomberg 5 april 2025
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