I keep hearing this line - "the world took advantage of us" "we are getting hosed by the whole world in trade"
Who, exactly is hosing us? Is it South Korea who imports our goods at near as makes no difference 0% effective tariff rate? Is it Australia with whom we have a significant trade surplus? I was reliably informed that if you have a trade deficit with someone that must mean they're hosing you. So are we hosing Australia? Must be somehow.. And if so why are we slapping additional tariffs on them? Dude just take a step back and call a spade a spade here. None of this makes any f-ing sense.
It's a nice graph though. The rich indeed are getting richer at a faster rate than the people with less money. That's exactly how compound interest works. Even for regular folks, it takes approximately the same amount of time to accumulate your first $100k as it does to go from $100k to $1M. Isn't it crazy how math works?! That's also exactly what I would expect growth curves to look like when comparing the 0.1% to the rest of the population. Turns out if youre in the 0.1% you're probably pretty freaking good at allocating money and making more of it. To pin wealth inequality in the US on "globalization" and the "myth of free trade" is definitely a new one.
But ultimately the real issue here is your implication that trump's deranged and incoherent tariff plan is going to somehow rectify this wealth problem. What evidence do you have for that? Because so far all I've seen are normie financial dummies panic selling, while the savvy billionaires short the market and use their connections and insider info to capitalize on the insane volatility. The tariffs are also effectively a wildly regressive tax. When you jack up the price of normal goods across the board it's going to hurt regular people far far more, because us normal folks need the same amount of food and toilet paper as billionaires do.