Yes!

But the covid situation is way worse than you think. The government stimulus was really helpful to the poor and middle class, but they spent all that money.

And who profited from that? The asset owners. Covid stimulus essentially was a direct transfer from the government to company owners and house rentals. These rich guys then used it to buy other assets such as more houses, equities and businesses. That’s why the stock market went up - your money went straight into it.

Yeah, but let’s consider what happens:

• Tariff applied
• Prices go up
• Supermarket trolleyfull becomes more expensive
• People have less money to buy other things
• Companies sell less
• Company profits fall
• Stock valuation drops
• GDP falls

That’s why the Dow Jones and S&P are lower - this shrinks company profits and US GDP.

Their pride.