Trump and Musk are a joke
To the Editor:
Despite what MAGA Republicans say, our esteemed president inherited a robust economy from President Biden (except for egg prices, apparently). The stock market was booming, unemployment was low and inflation was going down.
Since Trump assumed the highest office in the country — holding massive power and the responsibility for what goes right and what goes wrong — the stock market has tanked, losing over 7% of its value. The Dow Jones went from 44, 050 to 40,738 (as of March 13). Trump is “unconcerned” about market losses and the predictable talk about a looming recession.
Thousands upon thousands of federal employees are now unemployed. Trump flip-flopped for days on the imposition of tariffs on Canada, Mexico and China. Then he imposed 20% tariffs on Chinese imports. Then he imposed 25% tariffs on metals from Canada. Canada and the European Union retaliated. Trump insists he will retaliate. Everyone (everyone except Trump and his allies) watching this fiasco unfold agrees this is bad for business and worse for consumers. Prices will rise well beyond the inflation we suffered post COVID.
In the coming weeks and months, keep your eyes open, keep track of the cost of living day-to-day. Things will get tough.
Finally, in the face of certain economic catastrophe, the president did let us know that he is concerned about the financial health of his new bestie, Elon Musk, whose net worth is in the neighborhood of $300 billion even though Tesla stock has lost 40% of its value this year. The president became the chief smarmy salesman of Teslas this past Tuesday by hawking Teslas parked on the White House lawn. You all be sure to go out and order your $50,000 model 3.
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What you are seeing here is the polar opposite of the Midas touch.
Ann Fulton
Sylva
