China might prefer a managed decline, but it’s dealing with a US political class too incompetent to even attempt one. Do you honestly believe clowns like Lutnick or Bessent, who barely grasp the crisis unfolding around them, have the slightest clue how to fix it? Wall Street is often wrong, if you’re banking on their confidence then buckle up for disappointment.

I get why denial runs deep. If your whole life, crises were ‘solved’ and things limped back to ‘normal,’ it’s easy to assume the system’s resilient. But each ‘recovery’ has been a wealth transfer to the top, leaving workers with thinner margins and less capacity to survive the next shock. Today we see record debt delinquencies, credit cards funding groceries and rent, a populace already financially underwater.

Tariffs will act as a catalyst spiking prices, crushing consumption, and triggering further business collapses. The resulting resulting job losses will accelerate the downward spiral. This is a classic crisis of capitalism.