United States Senate Commerce Committee Chair Ted Cruz expressed concerns over the latest tariffs imposed by US President Donald Trump, saying that he is “not a fan.” “If we’re in a scenario 30 days from now, 60 days from now, 90 days from now, with massive American tariffs, and massive tariffs on American goods in every other country on earth, that is a terrible outcome,” Cruz stated in his podcast released on Friday, expressing concerns about other countries retaliating against Washington. Cruz, who ran against Trump in 2016 GOP primaries but then endorsed him ahead of the 2024 election, warned that Republicans could suffer in the 2026 midterms as a result of the tariffs and their impact on the economy. “If we go into a recession, particularly a bad recession, 2026 in all likelihood, politically would be a bloodbath,” he pointed out.
Nick note:
You really need to pay attention here because we are flirting with disaster. This tariff war can easily spin out of control and devastate the global economy. the last depression was caused by the world economy shutting down in 1930 because of trade wars. It was caused by he Smoot–Hawley Tariff Act. It was a protectionist trade measure signed into law in the President Herbert Hoover. the act raised tariffs on over 20,000 imported goods in an effort to shield American industries from unfair foreign competition. sound familiar? There is no discussion the US suffers the unfair trade practices. It was allowed because politicians wanted cheap consumer goods for American citizens. The cost is d-industrializing the country. destroys the US mining including oil, farming and manufacturing base including software. Wealth is created in these places. And anything that disrupts a countries ability to have these resources domestically will eventually end in disaster. And stopping the flow of manufactured goods, food, raw materials and digital products across borders is the road we are headed\down
When goods and services stop crossing border then armies willl
Trumps mistake here is abruptly stopping the flow of goods and services and materials with the entire world. He is dramatically increasing the cost of those goods. This is going to spin out of control. Let me warn you the odds are 70% that we will be in a global recession in the next 6 months. And the odds are more than 60% that that global recession will lead to a global depression. It may be too late to stop it. Calmer heads need to prevail immediately and slow escalation of tariffs which are taxes. These abrupt changes as you are seeing has led to a stock market that now is a major correction in just 3 days. An economy that’s going into a nosedive. Most important thing is the psychological effects on people as they watch their retirement accounts wipe out and their costs of food and goods increase by 25% across the board. You should be damn scared and rightly so. Here’s my warning to you this could end up in the 1929 depression and stock market wipe ou.t But hear me it’s far worse this time because there’s a huge amount of debt by citizens corporations and governments and that has a great chance of being defaulted on. That’s when it’s game set match. We have to reorganize the world out of the ashes of World War III cuz could. come from this