For months before and after the election, most of the media have been working very hard to scare Americans that Trump’s tariffs would absolutely devastate their purchasing power. Meanwhile, throughout the four years of Biden’s presidency, they downplayed the loss of purchasing power for all of us, but especially the poor and middle class.

They didn’t care that a family that spent $50,000 a year in 2020 essentially had to spend $60,000 a year by 2024 to maintain that lifestyle because of 20% inflation caused greatly by Biden’s (the Democrat’s) policies.

For journalists, that is $10,000 per year each and every year thanks to Biden’s policies, yet today, they are trying to scare the people by telling them that Trump’s tariffs will cost somewhere between $1,500 and $4,000 per year. Journalists don’t seem to understand or care that Americans can alter their purchase choices with tariffs but they have little choice with generic inflation.

Image by Grok.

Here is an article from Rick Newman of Yahoo Finance, which really takes the cake on spreading fear. He says that the tariffs will mean that all cars on the road will essentially be old and not run, just like cars in Cuba, if the tariffs go into effect.

Maybe Newman can explain why Germany, France, and England still have modern cars despite high import charges.

Here is their tax structure on imports:

Maybe Newman should learn the difference between communism and capitalism. Maybe the reason Cubans don’t have modern cars is that the average salary in Cuba, after 66 years of communism, is the equivalent of $15 per month. What a joyous life to live in a country that takes such good care of the people:

The average salary in Cuba is $15.38 a month. The vast majority of the population has to stand in line for hours to get meager food rations at subsidized prices. Only the very wealthiest Cubans can afford food delivery or to shop at “high-end” grocery stores.

I don’t recall when or if Newman or other journalists ever cared that Biden and the Democrats wanted to make all gas cars in America essentially worthless by effectively outlawing gasoline and diesel fuel, along with the purchase of gas vehicles in a very few years.

I don’t recall when or if the media cared about the inflationary aspect of forcing car companies to convert to making cars and trucks that are impractical and expensive. How many billions did Ford and General Motors lose seeking to go to the fictional
“net zero” that government regulators were demanding? The price of gas cars and trucks, along with insurance and repairs, increased substantially due to the car companies having to cover the massive capital and operating costs associated with electric vehicles.

As the media are trying to scare people with the tariffs, they are intentionally ignoring how Trump is getting rid of the regulations for electric cars will have a deflationary effect.

I’ve seen a lot of garbage written by people like Paul Krugman, Mark Zandi, Robert Reich, and others trying to destroy the public’s views of Trump’s policies, but I do not recall a piece so worthless and uninformative as this piece by Newman that tries to make people believe that Trump’s tariffs will convert America into Cuba.

Why does Newman have a job?