> Agreed. However, by imposing tariffs it is not the privileged who are going to be affected the most.
I thought the idea was that the billionaires would buy up all the crashed stocks then suddenly the tariffs would be lifted so that they can sell them off as soon as they recover. If so, the privileged will be affected the most but only in terms of how much money they'll make while everyone else suffers in the meantime.
I never really understood this argument. The billionaires wealth is mostly in stock. In a crash like this their wealth goes down 10% like of all us. They can buy assets on the dip, but it will only regain that 10% they lost.