I’ll admit it: I wasn’t the most attentive economics student in college. But recent events have forced me into a crash course in tariffs, trade, the stock market—and most urgently—the U.S. Treasury market.
These aren’t abstract terms anymore. I’ve been following the conversations—some sober, some frantic—coming from economists, traders, financial analysts, and CEOs. What stands out is how few of them support our current approach to tariffs. I hesitate to call it a “policy.” It feels more like something made up on the fly.
President Trump has been lucky in the past. He was rescued by his father’s money and banks willing to take risks that didn’t always pan out. He wasn’t so lucky in the casino business, and I don’t think he realizes he’s holding a weak hand in the high-stakes game of tariffs. When countries like China and Japan begin offloading U.S. Treasuries, it’s not just a financial maneuver—it’s a warning. They’re saying loud and clear: you’re not playing with our house money.
Let’s be honest: America is losing friends. Longtime allies are distancing themselves. They were stunned when Trump won reelection last November—and outright furious when “Liberation Day” was declared weeks ago. While Congress, the courts, and much of the press seem hesitant to challenge him, our international allies are not. They’re making new economic and diplomatic arrangements—and the U.S. is no longer on the guest list.
This has consequences. If foreign investors stop buying U.S. Treasury bonds—or worse, start selling them—our ability to fund government programs, including Social Security, is at risk. No one will be spared the fallout. It’s hard to believe our leaders don’t grasp how dangerous this path is.
And it may already be too late. Confidence in the U.S. has taken a major hit. There are reports of Canadian tourists canceling trips here—more signs of the growing unease.
If you’re a CEO or business owner, how can you plan with any confidence when the rules of the game keep shifting? The White House seems deaf to the frustration coming from both abroad and increasingly from within our own borders.
Democrats and critics are pinning their hopes on the 2026 midterms. But if this trajectory continues, I worry about what condition the country will be in by then.
And what about the seniors who voted for Trump? How do they feel now that Social Security offices are closing and workers are being laid off? When the Commerce Secretary brushed off concerns about late checks—suggesting a delay of a week or so would be no big deal—I wanted to shout: Wanna bet?
There’s a lot of noise out there. A lot of shouting, marching, hand-wringing. But not a lot of clarity or direction. Sometimes, it feels like we’ve passed the point of no return. Judging by the way our allies are behaving, they seem to think we already have.
Esot-eric 