Finance Foggle

Treasury Secretary Scott Bessent Defends Tariffs as Economic Tool, Denies They Are a Tax on Americans Key Takeaways Massive refund threat : Treasury may need to refund half of all collected tariffs - nearly $90 billion - if Supreme Court rules against Trump administration Legal confidence : Bessent claims he's "confident" SCOTUS will uphold tariffs but admits administration has backup plans using other legal authorities Economic argument : Administration argues tariffs boost domestic investment and strengthen economy despite recent job market softness Geopolitical tool : Tariffs used as leverage against multiple countries including China, Russia, EU, and others to advance US interests Who Exactly is Scott Bessent Anyway? So let's talk about the guy behind all these tariff declarations - Scott Bessent ain't your typical Treasury Secretary. For starters, he's actually the first openly gay person to hold this position, which puts him fifth in the presidential lin...

AI Bubble Economic Impact: How a Burst Could Trigger Recession, Job Losses, and Dot-Com-Level Market Crash | Analysis of Productivity Myths & Investor Risks Key Takeaways The AI bubble could burst worse than dot-com due to  greater market concentration  and  bigger valuations  – we're talking about companies with P/E ratios over 500 Productivity gains are mostly mythical  right now – studies show AI actually makes developers 20% slower, not faster Job losses are already happening  (10,000+ cuts tied to AI in 2025 alone), but the bigger risk is broader economic collapse Regular investors are exposed  through retirement accounts and index funds – you're probably invested in this bubble whether you know it or not The recovery could take years  – unlike dot-com, AI infrastructure investments are massive and widespread, meaning a crash would ripple through the entire economy The Productivity Myth: Why AI Isn't Delivering (Yet) Here's the dirty secr...