SHORT TERM PAIN FOR LONG TERM GAIN: RECESSION
JPMorgan Chase has issued a warning, giving a 60% chance of a global recession by year-end-an induced recession, as they describe it.
In the U.S., many consumer goods are expected to become more expensive, including imported cars, luxury items, plastics, imported alcohol, and food, just to name a few categories.
Consumers will certainly feel the short-term pain this year.
However, there is a silver lining: this economic strain and the potential shortages may spur domestic innovation and new businesses, reducing our long-term reliance on imports.
A recent example is Russia-faced with sanctions from the U.S. and its allies, it pivoted toward China and ramped up domestic production of essential consumer goods.
This is a bold gamble by the Trump administration, and we can only hope it pays off. We certainly don't want our trade partners turning to China and away from the U.S.
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JPMorgan Chase has issued a warning, giving a 60% chance of a global recession by year-end-an induced recession, as they describe it.
In the U.S., many consumer goods are expected to become more expensive, including imported cars, luxury items, plastics, imported alcohol, and food, just to name a few categories.
Consumers will certainly feel the short-term pain this year.
However, there is a silver lining: this economic strain and the potential shortages may spur domestic innovation and new businesses, reducing our long-term reliance on imports.
A recent example is Russia-faced with sanctions from the U.S. and its allies, it pivoted toward China and ramped up domestic production of essential consumer goods.
This is a bold gamble by the Trump administration, and we can only hope it pays off. We certainly don't want our trade partners turning to China and away from the U.S.
Subscribe to: