Americans Really Dislike Trump. But They're About to Truly Hate Him. [View all]

[Celerity]

Welcome to the summer of scarcity and the full-blown Trump recession.

https://newrepublic.com/post/194705/trump-scarcity-tariffs-recession-economy

https://archive.ph/BHcnw


Empty shelves at a Dollar Tree store in Alhambra, California, on April 28

Donald Trump’s first 100 days in office may have been the longest, figuratively speaking, of any U.S. president in history. But we can also say definitively that they were the most disastrous, ever. His draconian deportations, destruction of the federal government, and insane tariff Tilt-a-Whirls have driven his approval numbers so low as to be a modern marvel; the last time a president was this disliked after 100 days, we were fighting a world war and the Slinky was the country’s most popular toy. Trump has ended up here for no other reason than that he pursued the very policies he promised to pursue on the campaign trail. That’s the story of his first 100 days: Americans elected a dumb asshole, and natural consequences followed.

Now let’s consider the next 100 days, which look to be even worse for all of us—including the president. As The New Republic’s Alex Shephard wrote this week, there are a lot of good reasons to believe Trump’s standing with the American people hasn’t hit bottom yet, the main one being that the worst is yet to come. The president, Shephard writes, “is still stubbornly clinging to tariffs, which inevitably will cause product shortages and rising costs in the near future—not to mention a potential recession, the odds of which are worryingly high.”

Last weekend, Apollo Global economist Torsten Slok published a preview of coming attractions in the form of a report documenting what he’s calling the imminent “Voluntary Trade Reset Recession.” As Slok documents, Trump’s economy—though quite sluggish—has been boosted by the fact that inventories rose rapidly as firms acted in anticipation of tariffs being imposed. Now that tariffs have arrived, the sugar high is over and collapse is on the way. The most straightforward way of looking at the future is on page 4 of Slok’s report.

Apollo Global Management/Torsten Slok

What we have here is the prelude to the summer of scarcity, coming soon to a retailer near you. We are already well and fully in the stage where activity at our ports falls off a cliff. As TNR’s Tim Noah wrote this week:

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