Stocks, Tariffs & Billionaires
Scientist and U.S. Congressman Bill Foster (D–IL) claims that “billionaires will be unscathed” by “plunging” stocks “unleashed” by Trump’s tariffs.
IN FACT, the world’s 500 richest people lost $208 billion in wealth yesterday, and the price-to-earnings ratio of the S&P 500 was still 20% above its modern average. Such asset inflation, fueled by money printing favored by Democrats, benefited the wealthy and harmed the middle class by making homes and stocks unaffordable.
