FAST FIVE: Morgan Stanley's Business Conditions Index Just Suffered The Biggest One Month Decline In History

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“We know firsthand that the additional tariffs will have a significant, negative, and long-term impact on American businesses, farmers, families, and the US economy,” the companies said in the letter.

There aren't going to be any winners in this trade war, and anyone that suggests that there will be is just being delusional.

Dollar General (DG) Chief Financial Officer John Garratt also said the company's low-income shopping base “will be facing higher prices as 2019 progresses.” If prices go up but our paychecks stay the same, that means that our standard of living is going to go down.

At this point, global trade has already collapsed to levels not seen since the depths of the last recession.  Manufacturing numbers are plunging all over the world, and we just got some brand new numbers from the UK that are extremely alarming- Production output in the UK dropped by 2.7% in April from March, and GDP fell by 0.4% in just one month, according to the latest figures by the Office of National Statistics.

Among people who were adults before the recession hit, 33 percent said their financial situation is “about the same” as it was before 2007, while 23 percent said their situation is worse.

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