Dear Editor:
Back in 2008, the stock market took a dive bcecause of the mortgage policies of the banking industry. A few investors took the risk of anticipating significant drop in the value of stocks. They bet that the market would fall during this crisis. In doing so, some investors made in excess of a billion dollars profit that year alone. If one investor could predict that the market would fall significantly in value, why would that investor not provide significant moneys to “short sell” stocks.
Enter Donald J Trump and his extremely wealthy cabinet.
Certainly, every advisor available to this group of individuals has stated to them, and to the public, that the imposition of tariffs would significantly impact the value of stocks. International investors would pull out of the market and 401k and retirement funds would take a big hit.
Do you think, for even a moment, that Trump and his cabinet, given the knowledge and impact available only to them, that they would become honorable persons and forgo “selling short” with the millions of dollars available to them? Would they abandon the opportunity for huge profits with little risk?
Trump has bankrupted businesses 7 times, and made money personally on most of them. His executive decisions have caused the market to fall nearly 20% at the time of this letter. Regardless of the reasons he has stated for these tariffs (and he may genuinely believe them), these tariffs will cost the average person, you and I, a lot of money. Take for example your morning cup of coffee. Since coffee does not naturally grow in the United States (except for Kona coffee from Hawaii) all of your future coffee purchases will cost at least 10% more…the tariff.
Only the Donald can be expected to make a profit from these tariffs.
James Miner
