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Hedge fund billionaire Bill Ackman warns Trump is losing business leaders' confidence: ‘This is not what we voted for’ (thehill.com)

submitted 1 week ago by mar_k@hexbear.net to c/news@hexbear.net

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“By placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital,” Ackman wrote.

He argued that Trump should consider calling a “90-day time out” that would allow him to negotiate and solve “asymmetric tariff deals, and induce trillions of dollars of new investment in our country.”

If that doesn’t happen and instead the U.S. launches “economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate,” Ackman wrote.

“What CEO and what board of directors will be comfortable making large, long-term, economic commitments in our country in the middle of an economic nuclear war? I don’t know of one who will do so.”

Ackman predicted that if markets crash, “new investment stops, consumers stop spending money, and businesses have no choice but to curtail investment and fire workers.”

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[–] Terrarium@hexbear.net 6 points 1 week ago

The capitalist class is only united by their interests. Cutting wages? You'll get full support. Blame the minorities for every problem? Well that's useful for Ted firing an entire factory of white workers to scapegoat POC underclass workers but it runs counter to Bob's PR hiring strategy for hiring PMC Karens.