The $20 Move Giving You Exposure to 2 Ounces of Pure Gold (Worth About $8,000 Today)

Ex-Goldman Sachs VP reveals a secret of the rich and connected that lets you tap into the upside of a huge amount of real, physical gold for just about twenty dollars at a time. He says the upside could be 1,000% in the coming future.

Trump Tariffs 'Biggest Shock For Middle Class Families' Since 1970s, Says Larry Summers

Vishaal Sanjay
April 13, 2025

Former Treasury Secretary Larry Summers called Trump tariffs the biggest shock for middle-class families he'd seen since the 1970s.

What Happened: Debating conservative political commentator Oren Cass on CNN’s Fareed Zakaria GPS on Sunday, the former Chief Economist at the World Bank and Secretary of The Treasury in the Clinton administration started by calling the Trump administration’s tariff programs “completely ill-conceived” for its objectives.

He disputed his opponent’s claims that manufacturing jobs accounted for 8% of total employment, stating that only about 4% were actually involved in production, calling it a “very small and dwindling share” of the country’s workforce.

Summers cites the example of the steel industry, which is now subject to 25% tariffs on imports, stating that there are “50 times more workers in industries that use steel, than those who work in the steel industry,” and these industries are now less competitive as a result of the tariffs and the “higher input costs” resulting from the same.

While he admitted that there are things to be done on the manufacturing front, he believes the current administration’s programs have largely been counterproductive. Such as the dismantling of the CHIPS Act, which was meant to build manufacturing capacity in the sensitive semiconductors industry.

He further adds that this program burdens “our manufacturing teammates Canada and Mexico,” before stating that “if you punch your erstwhile friend in the face, you will get their attention,” referring to America’s trade partners who are now coming to the table, in order to negotiate a trade deal with the country.

However, Summers believes the U.S.’ new trade policies will cause it to lose friends, driving them “into the arms of our adversaries.” He concluded by saying that the only winner in all this is China and its Premier Xi Jinping, who are seeing “scope for new markets, scope for new influence, and displacing the United States.”

See More: Jim Cramer Urges Investors To Stay Strong--’If You Were OK In 2008, It Came Back’--Says Market Plunge Is A Buying Opportunity

Why It Matters: Summers has been a vocal critic of the trade tariffs for quite some time, having stated on Liberation Day that it would result in an ‘Oil Crisis-Like Shock’ that would wipe out $30 trillion from the economy.

He has also rejected the administration’s claims of China cheating in trade, stating that “if China wants to sell us things at really low prices” such as solar collectors or cheap batteries for electric cars “It’s kind of a good deal for us,” when asked about the Chinese government subsidizing its industries.

Image via Shutterstock

Read More: Ray Dalio Foresees Economic Crisis Worse Than Recession: ‘I’m Worried About Something Worse Than A Recession, If This Isn’t Handled Well’

Popular

Five 2026 vehicles you should absolutely wait for

Don’t buy that new car yet. If you can wait, you’ll have new 2026 model year options that aren’t out yet. Although some models barely change, others are completely redesigned and often get the latest features and improvements. Whether you’re interested in improved fuel economy, cutting-edge technology, or maybe just fresh and distinctive styling, there’s likely a car on the horizon that you’ll be interested in. To ensure you don’t miss out on the latest and greatest, the car experts at Edmunds highlight five vehicles you should consider waiting for.

Trump's $300 Million White House Ballroom Could Soon Bear A Very Familiar Name

President Donald Trump is reportedly planning to name his new $300 million White House ballroom after himself.

Gold Beats U.S. Treasuries and Could Make Your Income Soar - Ad

While the world's central banks dump America's bonds for gold, one income expert reveals a quiet $15 fund turning that shift into massive monthly income, up to $1,152 every month.

Cathie Wood Dumps $3.7 Million Of Palantir Stock Despite AI Boom — Here's What She's Buying Instead

Ark Invest boosted positions in Qualcomm and BYD, while trimming Palantir and Shopify. Ark also acquired shares of China's BYD despite recent recall.

Donald Trump Jr.-Linked Drone Maker Unusual Machines Wins Major Pentagon Deal

Unusual Machines secures its largest Pentagon drone contract to date, with Trump Jr. serving as an adviser but not involved in the deal.

This Backdoor Energy Play Beat Gold by 15X - Ad

Gold has hit all-time highs, but one little-known energy play has seen 15x the return since the start of this year. It's all thanks to the incredible energy demands AI is putting on our country. It's a bull market hiding in plain sight, and 40-year Wall Street veteran Larry Benedict has found one company at the heart of it all.

Shaquille O'Neal's $180,000 Range Rover Stolen in Suspected Hacker Heist

The custom Range Rover belonging to Shaquille O'Neal has been stolen, reportedly due to a cyber attack.

San Francisco mayor proposes denser housing to tackle affordability crisis

SAN FRANCISCO (AP) — San Francisco Mayor Daniel Lurie is trying to get more homes built for people like Liam Murphy: a fifth-generation city kid who found himself repeatedly outbid for tiny two-bedroom houses that wound up selling for $1.6 million.

Seven AI Unicorns. One Investment. - Ad

Discover the new standard for venture investing. Introducing The Standard Fund, seven sought-after pre-IPO AI companies packaged into a single institutional-grade fund.

Ford's enormous F-150 becomes unlikely part of Japan's efforts to woo Trump

TOKYO (AP) — Japan's most iconic truck might be the tiny white transport vehicles that farmers use to lug gear on the narrow roads that link their rice fields.

How It's Possible to Rake in Huge Gains From Gold's Surge - Ad

Gold blasted past $4,300 recently. It's up almost 50% in the past year. But why settle for 50% like most coin buyers... when past gold cycles have thrown off gains of 2,300%, 7,746%, even 9,850%? Weiss Ratings' gold expert Sean Broderick reveals what he believes is a more profitable way to play this surge. No futures, no options, no vault required.

LKQ Corp Reveals German Solar Power Partnership

LKQ shares rose after it announced a 20-year solar power deal in Germany, advancing its sustainability and emissions goals.

World's Biggest Multibillionaire Investor Group Is Buying Gold by the Tons - Ad

Most folks have completely missed the fact that there's one group of investors so powerful they're literally buying GOLD by the tons... Stacking it in their locked vaults on pallets in record numbers.

Why Is Trump Memecoin Soaring As Bitcoin, Ethereum Tumble?

The Official Trump (CRYPTO: TRUMP) memecoin erupted into a double-digit rally on Wednesday amid reports that the project's issuer is in talks to buy crowdfunding platform Republic.

Taiwan Didn't Steal US Chip Jobs, It Helped Create Them, Says Tech Insider

Taiwan Semiconductor Manufacturing Co stands at the heart of global chip production, powering US tech giants and fueling growth.

Will the "Mar-A-Lago Accord" Cause the Biggest Gold Bull Run in History? - Ad

Gold could soon soar past $27,000 an ounce... as a strange new financial reset, being called "The Mar-a-Lago Accord" rolls out. It's causing insiders to make unprecedented moves... According to one top analyst, you must move YOUR money into his no. 1 gold stock, to secure your wealth and potentially reap massive profits in the process.

Energy Fuels (UUUU) Stock Is Rising Tuesday: What's Fueling The Surge?

Energy Fuels shares are trading higher on Tuesday alongside Cameco Corp, which announced a strategic partnership with the U.S. government.

Is Gold About to Replace the Dollar as the World's Reserve Currency? - Ad

Central banks are hoarding gold and dumping the dollar - and one little-known fund is paying out up to 64% a year while the metal climbs. An income expert calls it "the smartest gold play most investors have never heard of."

Trump Reportedly Rebuffs Ukraine Missile Appeal After Putin Call: 'Time To Stop...'

President Donald Trump declined to supply Ukraine with Tomahawk missiles after a tense meeting with Ukrainian President Volodymyr Zelensky at the White House on Friday, according to a report.

Dogecoin's $0.21 Problem: Why This Analyst Says Keep It On Your Radar

On Monday, social media influencer Ali Martinez, known popularly on X as Ali, drew the attention of the crypto community to an important resistance level for Dogecoin (CRYPTO: DOGE).

Do You Have $500? Here's How to Cash in On Trump's New Deal - Ad

President Trump just proved he's a master dealmaker with this NEW Trump deal... A deal that could help unleash $100 trillion in new wealth. And unlike all his other deals, for the first time ever... Everyday folks like you can cash in on it... starting with just $500.

Tech Stocks Drop, Netflix Sinks 10% On Worst Day Since 2022: What's Moving Markets Wednesday?

Risk sentiment deteriorated sharply on Wednesday as a wave of disappointing earnings guidance and escalating U.S.-China trade tensions rattled investor confidence.

Weekend Round-Up: Crypto World Buzzes With Coinbase, Cathie Wood, Melania Trump And Bitcoin News

There was a whirlwind of activity in the cryptocurrency world this week. From optimistic predictions by Coinbase Global Inc. CEO Brian Armstrong to Cathie Wood's backing of a major Ethereum holder, the crypto market was abuzz with news.

The New Gold Trade Dominating in Wall Street - Ad

According to Dr. David Eifrig, the gold bull run is just getting started. He says you should move your money to his No. 1 gold stock immediately (not a miner or ETF but it has 1,000% upside potential.) Dr. Eifrig is no stranger to moments like this... As a former Goldman Sachs Vice President, he has traded profitably through just about every stock market situation, that's why his latest gold alert deserves your attention.

China's Gold Binge May Eclipse US Dollar, Says Top Economist

China has emerged as a major force behind the recent surge in gold prices, with its growing influence projected to surpass even that of the U.S. dollar, according to a top economist.

IonQ Shares Are Trading Lower Monday: What's Going On?

IonQ shares were trading higher Monday but have since reversed and began trading lower.

The $20 Move Giving You Exposure to 2 Ounces of Pure Gold (Worth About $8,000 Today) - Ad

Ex-Goldman Sachs VP reveals a secret of the rich and connected that lets you tap into the upside of a huge amount of real, physical gold for just about twenty dollars at a time. He says the upside could be 1,000% in the coming future.

Meta Deepens Clean Energy Pact With ENGIE

Meta signed a new 600MW solar PPA with ENGIE, expanding total clean energy capacity in Texas to over 1.3GW and powering U.S. data centers.

Gold Beats U.S. Treasuries and Could Make Your Income Soar - Ad

While the world's central banks dump America's bonds for gold, one income expert reveals a quiet $15 fund turning that shift into massive monthly income, up to $1,152 every month.

Why D-Wave Quantum (QBTS) Stock Is Getting Hammered Today

Shares of D-Wave Quantum are trading lower Wednesday afternoon, caught in a broader market downturn.

Jeff Bezos-Backed Anthropic Projects To Nearly Triple Revenues By 2026: Report

Anthropic, the artificial intelligence (AI) startup, backed by Alphabet's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google and Amazon.com (NASDAQ: AMZN), is reportedly projecting to more than double and potentially nearly triple its annualized revenue run rate next year.

This Backdoor Energy Play Beat Gold by 15X - Ad

Gold has hit all-time highs, but one little-known energy play has seen 15x the return since the start of this year. It's all thanks to the incredible energy demands AI is putting on our country. It's a bull market hiding in plain sight, and 40-year Wall Street veteran Larry Benedict has found one company at the heart of it all.

L3Harris Lands $2.26 Billion South Korea Air Defense Contract

L3Harris won a $2.26B deal to deliver modified Bombardier Global 6500 AEW&C aircraft to the South Korean Air Force.

TotalEnergies Profit Outlook Brightens On Refining Strength

TotalEnergies (NYSE: TTE) expects 3Q25 performance to improve with 4% Y/Y increase in oil & gas production.

Seven AI Unicorns. One Investment. - Ad

Discover the new standard for venture investing. Introducing The Standard Fund, seven sought-after pre-IPO AI companies packaged into a single institutional-grade fund.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service