After a round of steel and aluminum tariffs that were a clear shot at China with almost every other major exporter nation being protected by immunity rocked the markets, President Trump doesn't seem done pounding them with export fees. Recently announced technology tariffs are another direct shot at our number one threat to our seat as the number one economy the world.
Last week President Trump announced his plans for steel and aluminum tariffs in an attempt to keep true to his promise and save the steel workers jobs. The truth is that while it may save steel jobs, almost every other job sector will take a hit. Domestic consumers will feel it across the board as well.
It was another up and down week for the stock markets with the Dow swinging between 25,400 and 24,800 over the week before closing the week up almost 100 points at 25,304. Wild weeks like this will be common over over 2018.
The stock market saw it rise for the 5th straight day in a row, and many are beginning to claim we are in the clear. The dow is back up over 25000 closing the day at 25,200, up 306 points (1.23%). The Nasdaq also closed up over 112 points (1.58%) and the S&P added 32 points (1.21).
The cyclical nature of an economy makes it a certainty you will see a few recession in your life time, and with our last one almost ten years behind us now it is safe to start preparing for the next one. There are a bunch of steps people can take to minimize the impact of a perspective recession or even worse a depression.
While to most realists it appears the days of the new crypto millionaires who just threw money at random coins worth nothing then watched them rise to metric value making themselves rich beyond belief is a thing of the past, there are other ways to profit from it.
Billions sit in banks every day void of any real growth potential. As that money sits there, all of that money that could be multiplying for it's owners, it is just sitting their letting inflation rot away at it. Passive income is exactly as it sounds, income that accumulates as time passes without any effort.