Think it's starting to happen. All sorts of ugly breadcrumbs in Google and Amazon's reports. Google especially looks nasty, they've unleashed Gemini and destroyed their cash cow.
The irony will be that, in any given situation the Democratic party as currently constituted would be more effective than the feckless Trumpists, that the AI bubble popping and the stock market taking a huge haircut and us heading into recession will be pointed at the Democrats should they take the House and Senate, even as Trump asserts more control with random executive orders.
The merry go round goes round and round.
To be "fair", while tariffs and the Iran war are very bad, the real issue is going to be a 2008 style reckoning that I struggle to figure out how Government prevents. 2008 was at least in part a function of some deregulation of the financial sector. I'm not sure how in a capitalist economy you stop lenders from lending ridiculous amounts of money to companies that have a neat technology but zero business plan on how to make money and repay the loans.
I do note that the yields on Treasuries are dropping, which I suppose is a good thing except that it's from people selling stocks and corporate bonds and needing a place to hide their money.
Buckle up.
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